Monday 11 December 2017

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

  • The automatic right of EU citizens to live and work in the UK will end in March 2019 once the country pulls out of the bloc, Downing Street has insisted.
  • Pre-tax profits at the Cork- based unit of sweet manufacture Ferrero last year decreased by 3pc to €2.7m.
  • HSBC could spend up to $300m (€255m) moving jobs and parts of its business to Paris following Britain's exit from the EU, CEO Stuart Gulliver has said.
  • Independent News and Media (INM plc) has warned that newspapers will close and journalism jobs will be lost unless there is consolidation in the sector.

Irish Times

  • In a rare attack of camera-shyness, Cristiano Ronaldo hid from 200 journalists waiting outside the Madrid court where he is under investigation for tax evasion.
  • AIB has brought legal proceedings against a number of insurers after they declined to cover the bank for losses arising out of $700 million fraud by rogue trader Rusnak.
  • Ryan Tubridy, Paul O’Connell and Jennifer Zamparelli are some of the almost 250 people who have been approved for a tax exemption of up to €50,000.
  • The High Court has ruled against a group of investors in Permanent TSB who had challenged the State’s 2011 bailout.
  • The country’s aviation regulator is set to act after the collapse of Lowcostholidays.

Irish Examiner

  • US cable channel Discovery has agreed to buy Scripps Networks, for $11.9 in a bet that uniting ownership of cable channels like Animal Planet and HGTV will help the company adapt to the changing television landscape.
  • Heineken saw strong growth in its cider sales in Ireland during the first half of the year, something analysts view as more pressure for the Bulmers-owning C&C Group.

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