Wednesday 21 February 2018

Irish award nominees

Five Irish businesses have reached the finals of the 2014/15 European Business Awards. Dawn Meats, water treatment company EPS Group, technology company Version 1 and the Irish arms of Morgan McKinley and Paypal are on the shortlist.

The awards recognise and reward excellence, best practice and innovation in companies across the EU.

The Irish companies will also receive an award known as the Ruban d'Honneur.

"To survive in this economic climate is hard enough, so to innovate, prosper and expand in the way this year's Ruban D'Honneur recipients have is truly remarkable. Europe needs more companies like these," European Business Awards chief executive Adrian Tripp said.

Cybercrime hits 40pc

Two in five Irish internet users have received emails or calls from scammers trying to access their computer or personal details, according to a new poll by Eurobarometer, which surveys public opinion on behalf of the European Commission.

Nearly a third of Irish respondents said they have discovered malicious software on a device, and 6pc said they have accidentally encountered child pornography online. One in ten said they were a victim of bank card or online banking fraud.

Canada Life deal

Canada Life, a subsidiary of Irish Life's parent company Great-West Lifeco, has agreed to buy the Irish arm of investment and tax planning company Legal & General Group. The terms of the transaction were not disclosed.

Legal & General International Ireland primarily focuses on the UK high net-worth market.

"The proposed transaction will enhance the position of Canada Life in the UK, and give clients and professional advisers further confidence in our UK offshore business," Great-West Lifeco president and chief executive Paul Mahon said. The deal is subject to regulatory approval and is expected to close in the second quarter of this year.

China economy growth

China will be the world's largest economy by 2030, but its growth rate is likely to revert towards the average in the long term, according to a new report by PwC.

The report said India could be challenging the US for second place by 2050. "Eventual reversion to the global average has been common for past high growth economies such as Japan and South Korea and we expect China to follow suit," PwC chief economist John Hawksworth said.

Irish Independent

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