Monday 22 January 2018

The week in Business

Bumper year: Horse trainer Aidan O'Brien
Bumper year: Horse trainer Aidan O'Brien
Glanbia Managing Director Siobhán Talbot. Photo: Bloomberg

A look back at the main business stories of the week.


Scandinavian airline Norwegian has paid a total of over $1m to a high-profile Washington lobby firm and a former senior civil servant with the US Department of State in its efforts to secure a US permit for its Dublin-based subsidiary, according to figures seen by the Irish Independent.

The Bank of Tokyo-Mitsubishi is helping to bankroll the construction of five new schools being built in Ireland under a public-private partnership programme.


Remuneration to key management personnel at Dublin aircraft leasing firm SMBC Aviation Capital has more than doubled to $28.8m (€25.5m).

The racehorse training and bloodstock firm operated by top horse trainer Aidan O'Brien enjoyed a bumper 2015, recording profits of over €625,000.

Big investment banks with their European headquarters in London will start the process of moving jobs from the UK within weeks of the government triggering Brexit, a faster timeline than their public messages of patience would imply, sources say.


Irish exporters may be facing more pain on the currency front as global bank HSBC predicts the euro will reach parity with sterling within 18 months, arguing further weakness is required for the UK economy.

Glanbia Managing Director Siobhán Talbot. Photo: Bloomberg

The slump in sterling since June's Brexit vote doesn't make the UK any more attractive for Glanbia's potential acquisition activity, according to group managing director Siobhán Talbot.

The falling pound has bolstered interest in acquisition activity in the UK by foreign buyers.


A global survey of 2,000 investment professionals has tipped Dublin to benefit from the UK's vote to pull out of the European Union. The study by the CFA Institute - the global association of investment professionals - finds that 62pc believe Dublin, as a financial services centre, will be a winner from the Brexit result, just behind Frankfurt.

Irish exploration firm Tullow Oil begins pumping oil from its strategically important Ghanaian TEN project.

Irish Independent

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