Sunday 21 January 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

  • Trump team backs Norwegian Air in row over US flights as airline unions have failed to demonstrate how Norwegian Air International's launch of services from Ireland to the US will lower working conditions for pilots and cabin crew.
  • The true cost of cyber crime is turning up on the books as Cyber security was ranked eighth among the 12 biggest specific risks facing Reckitt Benckiser Group in its last annual report.
  • Air France-KLM Group has signalled that a turnaround which began early this year is continuing as summer bookings rise, and tourists return to France after staying away in 2016.
  • AstraZeneca's prognosis is a tonic for shareholders which three years ago Astra saw off a controversial bid by its US rival Pfizer.

Irish Times

  • ESB has been hit by 387 lawsuits over flooding in Cork in 2009, after the High Court found 21 months ago that it was largely responsible for millions of euro of damage to UCC buildings.
  • The rate of expansion in construction activity in the Republic slowed in June, according to a report published on Monday.
  • Adare Manor hotel will step up its staff recruitment programme this week in advance of its reopening in November following a multimillion euro refurbishment.
  • Fitch warned over the weekend that the high level of problem loans in the Republic’s banks continue to weigh on the State’s credit ratings.
  • Desmond-backed bank in Latvia has said it will appeal a French court ruling from last week in which it was fined €80m.

Irish Examiner

  • Cosco has agreed to buy Orient Overseas for $6.3bn (€5.5bn) in cash creating the world’s third-largest shipping company.
  • Business group IBEC’s Retail Ireland said €200m remains uncollected each year by local authorities because of "deficiencies".

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