Wednesday 17 January 2018

What it says in the papers: business pages

Michael Cogley

Michael Cogley

Here are the main stories from this morning's papers:

Irish Independent

* There is simply no question that the Irish authorities sought to give Apple any kind of special tax deal. That is according to Minister for Finance, Michael Noonan who has stated that "detailed and comprehensive responses have been provided to the EU Commission demonstrating that the appropriate amount of Irish tax was charged in accordance with the relevant legislation, that no selective advantage was given and that there was no State aid".

* Dublin Aerospace, the aircraft maintenance firm established by former Ryanair executive Conor McCarthy, is evaluating opportunities to expand its operations outside Ireland, the Irish Independent has learned.

* Professor Philip Lane was being paid by the Central Bank for over three weeks before he officially took over as Governor, and while Patrick Honohan was still in office.

The Irish Times

* The European Commission has warned the Government to broaden its tax base in order to reduce the nation's vulnerability to economic shocks. According to a report in The Irish Times, the warning came in the commission's first report since the formation of the coalition.

* Johnny Ronan has received permission for his €200m six-storey office block in Ballsbridge, which have the capacity to house up to 2,200 workers. A report in The Irish Times said the project got the green light despite over 20 separate objections.

* Profits at Spar and Mace owner BWG Group increased by 41.4pc in the first half of its financial year with its sales being boosted by the acquisition of ADM Londis. The firm said it was pleased with the results.

Irish Examiner

* Telecoms provider Eir has said it is willing to sign a deal to deliver high-speed broadband to 300,000 homes and businesses. According to a report in the Irish Examiner, the deal is the latest in a long battle between the provider and the Government.

* The Dublin Airport Authority has backed plans by Norwegian Air to develop a transatlantic service between Cork and the US, despite a number of route cancellations at the airport.

* Paddy Power Betfair chairman Gary McCann defended the company's executive bonus structure as 32pc of the firm's shareholders voted against a resolution in relation to renumeration.

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