Wednesday 18 July 2018

What it says in the papers – business pages

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

Irish Independent

  • Canadian energy giant Brookfield and Coillte are separately eyeing projects that could add another 1,225 megawatts of wind energy output to Ireland’s national grid and cost about €1.3bn.
  • Shares in UK regional airline Flybe plunged by as much as 20pc in early trading yesterday as it issued a profit warning - its second in just over six months.
  • AIB is preparing to launch the largest non-performing loan sale in its history next month as it embarks on the final phase of its post-crisis balance sheet purge.
  • The directors of the Swiss-owned Killarney Hotels Ltd sounded a note of caution as revenues continued to increase last year at the group to €19.2m.
  • CSO boss Pádraig Dalton says the national statistics agency needs to do more than provide data.

Irish Times

  • A stamp duty relief aimed at farmers is to be extended in the wake of controversy over the hike in commercial stamp duty in the budget.
  • AIB “is the most profitable bank in the euro zone”, flattered by Ireland’s high mortgage rates and the lender’s ability in recent years to free up provisions previously set aside for bad loans, according to a German brokerage.
  • Fianna Fail has accused the Government of deliberately suppressing two more reports on the economic impact of Brexit on Ireland.
  • The number of professional job vacancies in Ireland in September increased by 9pc compared to the same month last year.
  • The Supreme Court has directed a fresh hearing of claims a settlement agreement, under which two brothers allegedly agreed to pay €1.1m arising from the collapse of a building partnership, is unenforceable.

Irish Examiner

  • After more than five years of declining sales, IBM says it will finally show investors it can grow again. Wall Street cheered, sending the shares up the most in more than eight years.
  • US Treasury secretary Steven Mnuchin said the stock market will probably see its gains wiped out if politicians fail to deliver planned tax cuts that will benefit corporate America.

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