Sunday 25 February 2018

What it says in the papers: business pages

Michael Cogley

Michael Cogley

Here are the main business stories from this morning's papers:

Irish Independent

* There is no real compelling case for introducing Budget measures to help first-time buyers, TCD economist Ronan Lyons has claimed.

In a report from property group Daft, published this morning, Mr Lyons pointed out that the number of new homes being sold in Dublin and the rest of the country is continuing to rise.

* US venture capital heavyweight Mark Stevens - who oversaw early-stage investments in firms such as Google and PayPal - has taken a stake in Ireland-based student loan provider Future Finance, underpinning the Dublin firm's plans to enter new markets.

And Future Finance chief executive Brian Norton has told the Irish Independent that his company hopes to have Central Bank clearance by the end of this year to begin offering loans to students in the Irish market by 2017.

* Nearly a fifth of Ireland's insurance leaders are planning to either buy a rival or merge with a competitor, according to a survey launched this morning.

The first ever Insurance Ireland-PwC Pulse Survey, which asked chief executives in the sector for their views, found that 18pc of the bosses think M&A activity is on the cards for them in the coming year.

The Irish Times

* Last year one in five civil servants were paid lump sums of in excess of €100,000 with five senior State officials receiving lump sums of between €250,000 and €300,000.

Over the last three years over 500 senior civil servants have netted a lump sum of over €100,000 for their retirement.

* A new threat of increased regulation and diminishing investment is facing the insurance industry, a survey has found.

Lower interest rates have reduced investment income, according to new research from PwC of around 50 industry leaders.

* Property prices have risen on average by around 7pc this year with national supply slowing the number of deals being completed, according to two new surveys.

Research from and MyHome point to a potential price surge of 5pc over the coming year as the Government continues to try and ramp up house building.

Irish Examiner

* The Government is intensify its preparations for Britain's exit from the EU, foreign minister Charlie Flanagan had said.

In response to the British prime minister's comments that the Brexit process would start no later than the end of March, Mr Flanagan said it is important Ireland remains a strong member of the European Union.

* Big business across Ireland is backing post offices across the country as postmasters bid to become 'the State on your doorstep' in providing services likes remote health checks and acting as tourism information areas.

New research from communications firm Ericsson has shown how post offices can serve their communities and urged the Government to put in a plan to save them.

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