Business World

Tuesday 24 October 2017

ARFs won't be subject to 1pc levy


INSURANCE industry body the IIF has reassured members that Approved Retirement Funds, dubbed ARFs, will not be subject to the 1pc life insurance levy. The levy was removed from pensions as part of the recently-published Finance Act, however life insurance companies thought the wording of the act meant the levy would remain on ARFs.

Grab & Go set to appoint liquidator


THE company that pioneered Ireland's first hot-food vending machines is to be wound up at a creditors' meeting. Legal notices placed show that Grab & Go will appoint a liquidator on February 23.

New Look shelves its market plans


BRITISH fashion chain New Look has shelved plans for a stock market flotation in the wake of recent financial turmoil. The decision marks the second time in two years that New Look's owners have scrapped an initial public offering for the retailer.

Mixed signals for the US recovery


THERE were mixed signals for the US economy from the latest figures released yesterday. Government figures showed that sales at US retailers rose by more than expected in January, but a separate survey showed a surprise fall in consumer sentiment.

Probe into leaking of Shell records


A FULL-scale investigation was under way last night into a security breach at Royal Dutch Shell as the oil company faced explaining to staff how the personal details of 170,000 employees and contractors had made their way on to the internet. Seven non-governmental organisations, which were emailed a database of all Shell staff this month, have been dragged into the row.

Storms to cost US firms over $2bn


storms that struck the eastern US will cost insurers more than $2bn as companies reimburse customers, research company Eqecat said. "The majority of the losses will be focused in the corridor from northern Virginia to the New York metropolitan area," Oakland, California-based Eqecat said yesterday in an emailed statement. The estimate is based on a preliminary review of snow, ice and wind from two February storms.

Irish Independent

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