Thursday 15 November 2018

HMV must honour vouchers – ACCA

THE appointment of a receiver to the HMV in this country and an administrator in the UK does not invalidate any HMV Ireland gift vouchers, accountancy body ACCA Ireland said. The vouchers are still legal debts of HMV, advisory services manager Aidan Clifford said.

ACCA believes that it was also wrong of HMV Ireland to refuse to accept vouchers as payment after the administrator was appointed in the UK but prior to the receiver being appointed in Ireland.

BA to add further Heathrow flights

British Airways is to boost its Dublin-Heathrow service in time for summer. The airline said it will add up to three extra flights a day, beginning on March 31. It said it was adding the extra capacity due to the route's continued popularity.

British Airways currently operates up to eight flights a day between Dublin and Heathrow. It began operating the route after acquiring BMI last year. The service directly competes with Aer Lingus.

Paddy Power adds ex-O2 boss to team

Danuta Gray, the former boss of O2 Ireland, has been named a non-executive director of Paddy Power. Ms Gray is also a non-executive director at both Aer Lingus and Irish Life and Permanent.

Paddy Power chairman Nigel Northridge welcomed Ms Gray to the board. He said she is a "highly accomplished and capable director" who will bring valuable insight to the company.

Ardagh advances Verallia buyout

Irish glass container maker Ardagh said it has finalised a share purchase agreement with Saint-Gobain to buy the French firm's US Verallia unit for $1.7bn (€1.27bn).

Ardagh has raised $1.2bn via three separate issues to fund the acquisition. The largest issuance is for $850m of senior notes with a coupon of 7pc.

Lansdowne closer to gas in Celtic Sea

British oil and gas exploring firm, Lansdowne Oil & Gas, said in a statement that it has found "fluid anomalies" consistent with a gas find in its Midleton and Rosscarbery prospects in the Celtic Sea, off the south coast.

The find is close to the Barryroe oil field, where Providence Resources said last March it had found an oil field with more than one billion barrels of oil. Lansdowne is a minority partner in Barryroe. The find came after a 3D seismic survey of the site.

Irish Independent

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