Sunday 16 December 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

  • A 100pc owned subsidiary of retail chain Life Style Sports has collapsed into insolvency, leaving creditors substantially out of pocket.
  • Northern Ireland property tycoon Padraig Drayne has been revealed as the private developer who bought the former Ballynafeigh police station on the Ormeau Road in Belfast.
  • Brexit is a 'low priority' for Irish businesses as they battle rising costs, including increased wage costs and increased commercial insurance costs.
  • Investors are betting on China's potential to feed the global pharmaceutical pipeline, putting a multi-billion-dollar price tag on a handful of stocks.

Irish Times

  • Semi-state forestry group Coillte plans to apply for planning permission for about 59 new homes on a 3.2-hectare site that it owns in Co Galway.
  • Employees are to receive entitlements from tax allowances and credits more quickly under a new system being introduced in 2019.
  • A new $300m (€254m) global investment start-up fund co-founded by a former Irish rock musician turned serial entrepreneur is to actively target technology companies in Ireland.
  • Irish consumers are increasingly using their smartphones to shop online with one in five young people spending between €100 and €500 a month buying goods in this way.

Irish Examiner

  • The number of profit warnings issued by British companies jumped to 75 in the third quarter, the biggest quarterly rise in almost six years.
  • Live entertainment events in Ireland generated €1.7bn of revenue over the last 12 months and supported employment for almost 11,500 people.

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