Saturday 24 March 2018

What it says in the papers

Sean Duffy

Here's a look at what it says in the business papers of today's newspapers:

Irish Independent

  • Shelved plans for a €500m gas terminal on the Shannon have been revived as a result of Brexit, with PwC mandated to find a buyer to fund the huge Shannon LNG project at Balylongford, close to Tarbert.
  • A company built around the research of Craig Wright, who claims to have invented the bitcoin digital currency, has been sold to a private equity firm in a deal the company says is the biggest to date involving blockchain technology.
  • Ballymaloe hotel sees profits triple as revenues rise to €3.5m
  • The top 50 US companies have a total of $1.6 trillion (€1.5 trillion) stashed offshore and are depriving governments around the world of much needed tax revenues, according to a new report from charity Oxfam.
  • The Government is planning financial support for exporters hit by Brexit, but it first needs approval from Europe.
  • AIB is tot sell a book of buy-to-let mortgages to US financial giant Goldman Sachs.

Irish Times

  • UK officials have realised that Brexit is an act of “great self-harm”, according to Ireland’s leading Brexit official John Callinan.
  • Minister for Finance Michael Noonan could have a bigger amount of money to spend when the new Government estimates are published in June.
  • Rabo Direct have said that Irish customers using their investment services must sell their funds by April 24.
  • Whistleblower Jonathan Sugarman says the Irish State has completely destroyed the lives of whistleblowers.
  • Irish fintech company First Circle has raised €1.2m in a funding round.
  • Irish banks could be most affected by new capital requirements being imposed by the EU.
  • There was a 16pc rise in the rate of mortgage lending in the first two months of this year.

Irish Examiner

  • Minister for Finance Michael Noonan has said that a motorway between Limerick and Cork could be built.
  • The cosmetics plant in Nenagh that closed last year with the loss of 200 jobs was part of a company that made profits of €11.6m.
  • The cost of a new mortgage is almost twice the average rate in the rest of the Eurozone.
  • The Institute of Directors has said that conflicts of interest are rampant on Irish boards.

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