Business Irish

Wednesday 21 February 2018

What it says in the papers – business pages

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

Irish Independent

  • US vulture fund Lone Star is set to flip the Jurys Inn chain, likely making at least a €300m profit on the business where taxpayer-owned IBRC and other banks wrote off €300m in loans in 2013.
  • Ryanair has already decided where its 85 aircraft based in the UK will be repositioned to in 2019 if a hard Brexit results in no aircraft being able to fly between the UK and the EU.
  • The head of listed property group Hibernia Reit says new building codes geared specifically towards the construction of rental residential accommodation need to be introduced to help alleviate Dublin's housing crisis.
  • Katie Taylor was boxing clever outside the ring last year as accumulated profits at her firm passed the €1.4m mark.
  • The Malaysian Airline boss, and former Ryanair executive, is enjoying his new challenge in a sunnier version of Ireland, he tells John Mulligan.

Irish Times

  • The European Central Bank has warned that some housing markets may have ‘excessive exuberance’ in some European housing markets.
  • Two tech firms are to create at least 150 jobs, including US tech firm Pitney Bowes which is to create 100 new jobs in Dublin over the next three years.
  • US-backed Broadhaven is thought to be paying more than €90m for three Dublin sites with planning permission for up to 870 homes.
  • A nephew of businessman Sean Quinn remains bound by an order made in Dublin to fully disclose any details of an alleged asset-stripping scheme, the High Court in Belfast has ruled.
  • Donegal Investment Group has told shareholders the company will “discontinue the payment of dividends for the foreseeable future.”

Irish Examiner

  • Norwegian Air said it remains confident that a deal can be struck with Ryanair or another airline to transport passengers from continental Europe to the US using the low-fare model.
  • Providence Resources boss Tony O’Reilly Jr has said landing a development partner for the company’s headline assets remains the top priority.

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