Business Irish

Saturday 25 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:

The Irish Independent

  • Permanent TSB will finalise a clean-up strategy for its problems loans, including mortgages, by mid-year in a move designed to end investor uncertainty about the mounting regulatory pressures facing the lender.
  • Around 200 jobs are set to go at RTE after Director General Dee Forbes said that the financial situation at the State broadcaster was “critical”.
  • The Central Statistics Office (CSO) is looking to embark on an estimated €60,000 rebranding to develop a new corporate identity.
  • The State's Comptroller and Auditor General (C&AG) will no longer be sole auditor of Nama's group entities, with the bad bank now drafting in a firm to undertake statutory audit work for the next three years, when the agency expects to be wound up.
  • Renewable energy firm Amarenco is ready to invest €56m in new solar farms in the south of the country, but is still waiting on a change to legislation that would subsidise the power generated from solar, just as power generated from wind is.
  • The ECB could fast track authorisation of banks leaving the UK because of Brexit, a top official confirmed yesterday.

The Irish Times

  • A renewed construction boom could again overheat the economy, according to the ESRI.
  • The private sector contributed just 64 new social housing dwellings in 2015, according to official data.
  • Losses at Irish mineral exploration company Kenmare Resources halved in 2016, according to the company’s annual accounts.
  • Eurogroup head Jeroen Dijsselbloem will not step down despite having made comments in which he said countries that had required EU bailouts had spent their money on “booze and women”.
  • Automatic number plate recognition that can identify uninsured drivers may not be rolled until 2019.
  • Ireland’s largest purchaser of advertising, Core Media, has suspended its advertising on Google and YouTube because of fears that ads are appearing alongside extremist content.

The Irish Examiner

  • The EU’s Brexit chief, Michel Barnier, wants to have an agreement with the UK in place by 2019, but has warned the country that it will not get everything that it wants.
  • Dubray Books posted its best ever year in 2016, with profits coming in at just under €500,000.
  • Dublin has been rated as the most appealing city for bankers relocating from London in the wake of Brexit.
  • The European Investment Bank has warned that the UK’s bill after Brexit could be costly, with the EU body calling for “civilised” divorce talks.

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