Saturday 16 December 2017

What it says in the papers - business pages

Ellie Donnelly

Ellie Donnelly

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

Irish Independent

  • Eir wants the State to pay it €56m for having kept rural phone lines going in recent years.
  • Financial firms looking to relocate to Ireland due to Brexit must demonstrate that local management will be accountable for decision-making and that operations can be effectively supervised the Central Bank has said.
  • Carbery Group, the Cork-based international manufacturer of value-added ingredients, flavours, and cheeses, has reported an increase in annual earnings of 4.8pc to €37m for year ended 2016.
  • The Office of Public Works is to build a seven-story office block that will connect to a historical Dublin building.
  • Three pubs in the Charlie Chawke pub empire enjoyed a bumper year last year posting combining profits of almost €800,000.

 

Irish Times

  • US president Donald Trump has signed a new executive order directing a review of steel imports, most of which come from China, sparking fears that the world’s largest economy could be embracing protectionism.
  • Irish and multinational-backed investor MML has bought a minority stake in Fastway Couriers for a figure said to be about €12m.
  • NTMA opens new avenue for State to raise money as it prepares to refinance more than €29bn of government bonds over the next three years.
  • The collapse of Setanta Insurance is leading to renewal chaos for van drivers as more than 60,000 of them have the same renewal date – April 17 – the date that Setanta policies cease to be active.
  • Some $60m (€56m) of debt issued by a Dublin-based company for a Russian bank last November has been deemed worthless as the borrower has been declared bankrupt.

 

Irish Examiner

  • Potential for AIB shares sale to raise more than €3bn for the government
  • British shoppers could face an average tariff of 22pc on food from the EU if British prime minister Theresa May fails to reach a trade deal with Brussels before Britain leaves in two years time, retailers said.
  • ICMSA president John Comer has criticised reports of progress in trade talks between the South American Mercosur group of states and the EU.

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