Friday 19 January 2018

In brief

Royal Dutch Shell expects to cut 2,800 jobs globally to save costs if its takeover of BG Group goes through as planned early next year following a final green light from China.

The acquisition, which was announced on April 8 and is biggest in the sector in a decade, has been cleared by China's Ministry of Commerce, Shell said yesterday, after earlier approvals from Australia, Brazil and the European Union.

The group's combined workforce wil be 100,000.

Annette Flynn has quit the board of Grafton Group, citing a potential conflict of interest with another directorship.

Ms Flynn joined the board of Dairygold last week. The potential conflict is thought to be due to the overlap between Grafton's hardware stores and hardware sold in Dairygold shops.

Ms Flynn had been on the Grafton board for five years. As a result of her resignation, Roderick Ryan will not retire this year, and retain his position on the Grafton board into 2015.

THE Central Bank has published its themes for investigations in 2016, with investment funds and asset managers squarely in tis crosshairs.

The regulator will look closely at the production costs of investment funds and asset management plans that are in place for funds. The Bank's director of markets supervision, Gareth Murphy, said the moves were "consistent with [our] mandate of investor protection, market integrity and financial stability".

Irish Independent

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