What it says in the papers – business pages
Here's a look at what it says in the business papers of today's newspapers:
- Dublin is ahead of Paris but losing out to Frankfurt in the bid to attract financial services firms looking to relocate from London in the wake of Brexit, according to one of Europe's top property experts.
- Digital revolution gathers speed as Tralee makes most of latest fibre broadband rollout, with Irish small businesses out-performing all other European small businesses when it comes to ecommerce.
- US global logistics giant UPS has acquired Irish firm Nightline, making for a multi-million-euro pay day for its two founders.
- Irish Mars chief underlines food giant's concerns over Brexit costs when speaking with the Irish Independent.
- TV3 owners waits in the wings as takeover speculation mounts after ITVs Crozier quits after seven years, as the UK broadcaster shakes up its executive ranks amid a Brexit-derived advertising slowdown.
- The Central Bank governor Philip Lane has rejected suggestions that the economy is on the brink of another housing bubble.
- Almost all Irish senior executives believe that a hard Brexit is inevitable, with less than a quarter considering that a deal is possible in two years, according to a survey.
- Ardagh Group faces strong resistance in any efforts to recoup losses relating to a $50m US patent ruling against a business it bought from French industrial giant Saint-Gobain two years ago.
- Facebook profits surge 76pc fuelled by robust growth in its mobile ad business.
- Almost three-quarters of Ireland’s construction industry leaders expect commercial and residential building to increase over the next year even as the industry struggles with staffing issues and uncertainty relating to Brexit.
- UK supermarket Sainsbury is struggling to keep up with supermarket rivals and discounters in a British grocery market under pressure from a Brexit-induced fall in the value of sterling.
- Businessman Ben Dunne expects his expanding gym business to generate revenues of over €10.3m in its current financial year.
- The Department of Finance has expressed disappointment at the continuing underperformance of tax revenues, but will be looking to May’s figures — traditionally a big revenue month on all tax fronts — as a better indicator for the full year.