Business Irish

Thursday 23 November 2017

What it says in the papers: business pages

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

Irish Independent

  • The new owners of Bord Gáis Energy are sitting on profits of €92.9m just two years after buying the business in a privatisation demanded by the Troika.
  • Homeowners are being warned to prepare for interest rate rises, as the era of cheap debt is set to end. The Governor of the Central Bank warned that falling house prices could become a reality again.
  • A European Commissioner has said London will continue to be important in terms of financial services after Brexit, but that Frankfurt and Paris will also take on enhanced roles.
  • Packaging giant Ardagh Group has told analysts that plans to list shares on the New York Stock Exchange later this quarter are well advanced.
  • Eir has launched a process to cut the cost of its debts, by asking lenders to accept lower interest payments.
  • Roadbridge Civil Engineering and Building Contractors has been awarded the first major contract on the €233m Center Parcs development in Longford.
  • Fáilte Ireland has warned that the acute shortage of hotel bedrooms in Dublin poses a major threat to the expansion of the tourism sector in the capital.

Irish Times

  • Norweigan Air sold more than 5,000 flights yesterday just hours after announcing flights from Ireland to the US.
  • IT services company Ergo has forecasted revenues of €60m for 2017.
  • Former IMF managing director Rodrigo Rato has been jailed in Spain for four years on embezzlement charges.
  • RSA Insurance losses grew by 62pc last year as a result of a major number of claims in 2014 and 2015.
  • Barclays is looking at options in Dublin as the bank seeks out a new European headquarters in the wake of Brexit.
  • The Central Bank has said it will intervene in the housing market if prices get out of control.

Irish Examiner

  • The British government has reduced its stake in Lloyds bank only a day after the bank posted its best set of results since before the financial crisis.
  • Morgan Stanley is scouting offices in Frankfurt and Dublin as it looks to relocate 300 workers from London after Brexit.
  • British American Tobacco wants to double the number of countries in which it sells vaping products.

 

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