| 16°C Dublin

What it says in the papers: business pages


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

Irish Independent

*House prices will continue to soar in 2017 - especially those outside the capital, which saw double digit inflation in 2016, according to Daft.ie.

*The Central Bank has begun laying the groundwork to accommodate a significant number of London-based financial services firms looking to move operations to Dublin in the wake of Brexit.

*Euro-area manufacturing expanded in December at the fastest rate since April 2011, in the clearest sign yet that an often fragile recovery in the single currency area remains intact heading into 2017.

*The volume of farmland sold at auction declined by 30pc last year reflecting the uncertainty in agriculture - with auctioneers and consultants blaming volatile farm incomes, Brexit and the banks' tighter lending policies.

*The UK's plan to exit the European Union is the biggest fear for Irish firms in 2017, according to a survey by Dublin Chamber of Commerce.

*The US Food and Drug Administration cleared just 22 new medicines for sale last year, the lowest number since 2010 and sharply down on 2015's tally of 45.

The Irish Times

*More than 100 US legislators have asked US president-elect Donald Trump to revoke a permit allowing Norwegian Air International to fly from Cork and Shannon to Boston.

Washington's department of transportation recently granted Irish-based Norwegian Air International a foreign carrier's permit, allowing it to fly between the European Union and the US.

*The brother of Ryanair founder and aviation pioneer Tony Ryan has died at the age of 76. Michael "Kell" Ryan also built his career in the aviation sector.

*Applications from first-time buyers for financial support under the help-to-buy scheme open today. The measure will allow purchasers to claim a rebate of income tax already paid up to a maximum of €20,000, depending on the value of the property.

*European shares rose the first day of trade in 2017, aided by data showing better-than-expected manufacturing performances across the euro zone.

*Bitcoin kicked off the new year by jumping above $1,000 for the first time in three years, having outperformed all central bank-issued currencies with a 125pc climb in 2016

Irish Examiner

* Growth in core domestic spending - consumer and government spending plus real investment - slowed from 3pc from an average of 5.5pc in the previous two years, according to data from the CSO.

*Many Dublin firms plan to hire staff this year despite Brexit weighing on their minds, according to the Dublin Chamber.

*Young drivers are taking the strain for the mistakes of insurers for charging too little for motor premiums in the past and are now being charged far too much, online broker coverinalick.ie has said.

*A process of regular consultation between Agriculture Minister Michael Creed and his British counterpart Andrea Leesom on the implications of Brexit for the Irish agric-food and fisheries sectors has started.

*Cookies on web pages were rated the most annoying aspect of the internet, according to teh European Commission's consultation survey carried out in all 28 member countries.

Online Editors