Belfast developer Paddy McKillen has offered to buy Clerys department store from US investor Gordon Brothers, the newspaper quoted a McKillen spokesman as saying. The US investor has yet to decide whether to sell the shop on Dublin's O'Connell Street less than a year after it was bought. Mr McKillen has offered to pay around €2m in cash and to take on debts of €14m, the newspaper added. Gordon Brothers, which specialises in turning around failed retailers, bought the store for €1m in 2012.
Newbridge Credit Union, which went into administration last year, is to be merged with neighbouring Naas Credit Union, 'The Sunday Business Post' said yesterday without citing sources. The administrator and Central Bank want to hammer out an agreement that would see Newbridge stop operating and shift all accounts to Naas. Naas has 18,000 members and is a relatively sophisticated operation, the newspaper added.
Royal Bank of Scotland's retail banking head, Ross McEwan, could be named as chief executive as early as this week, 'The Sunday Telegraph' reports, without saying where it got the information. The newspaper added that BlackRock's Asia-Pacific boss, Mark McCombe, is not taking the top job at the British bank which also owns Ulster Bank here in Ireland. Mr McEwan looks set to replace Stephen Hester who resigned following disagreements with the British government about the future direction of the lender.
THE Siemens supervisory board will vote this week on whether to replace chief executive Peter Loescher with industry division head Siegfried Russwurm, Germany's 'Manager Magazin' reported. Reuters also reported the possible change to the top position of Europe's largest engineering firm. The magazine said shareholder representatives were pushing for Mr Russwurm's appointment. A Siemens spokesman declined to comment.
Britain's Nuclear Decommissioning Authority has drafted KPMG to review running of Sellafield's nuclear waste site in Cumbria, the London-based 'Independent' reports. The report concludes the government should clean up the Sellafield site which has been run by Nuclear Management Partners since 2008, a consortium of URS, Areva and Amec. The consortium was fined £700,000 for sending radioactive waste to a landfill site. The KPMG report has concluded that finding a new private sector partner would be "too costly and time consuming". A decision will be made in the autumn.