Business World

Tuesday 12 December 2017

In Brief: Homebase chain gets examiner

AN examiner has been confirmed for DIY chain Homebase which now has until September to prepare a survival scheme. Homebase House & Garden Centre Ltd employs 558 people in 15 stores here, of whom 114 are full-time.

There had been two expressions of investor interest in the company, one from a related company in its UK-based group and one independent, Mr Justice Brian McGovern was told.

AVIATION AUTHORITY STAGING AIR SHOW

THE AVIATION industry, which now supports 26,000 Irish jobs, is celebrating the sector with FlightFest, an international airshow that will see 30 aircraft fly through Dublin on September 15.

Large commercial aircraft, the Irish Air Corps and the Royal Air Force will fly into Dublin Port and up along the River Liffey, as far as the Customs House.

BILD OWNERS SELL OFF PUBLICATIONS

GERMANY'S biggest publisher Axel Springer, which owns Europe's top-selling newspaper 'Bild', is selling off its regional dailies and magazines for €920m.

"The decision to divest some of our brands with the longest tradition in our company was not easy," said Springer chief executive Mathias Doepfner. The company intends to ramp up its focus on digital media.

GREECE SECURES €2.5BN LOAN

GREECE has secured the release of another €2.5bn loan installment to tide it through the coming weeks, as European governments put off debate over Greek debt relief until after Germany's election in September.

Eurozone governments approved the payment yesterday during a conference call between senior finance officials, after Greece took steps to cut public-sector payrolls, meeting the last of 22 conditions set by creditors.

LVMH INCREASES HERMES STAKE

LVMH, the world's largest luxury goods maker, has increased its stake in Hermes to 23.1pc from 22.6pc in what it described as "an opportunistic move."

Hermes, the maker of the famed Birkin bag, has repeatedly called for LVMH to reduce the stake it built starting in 2010 after converting cash settlement equity swaps.

Irish Independent

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