Thursday 14 December 2017

Insolvency post filled

SOLICITOR Bill Holohan, senior partner at Holohan Solicitors, Cork and Dublin, has been appointed by Justice Minister Alan Shatter to the personal insolvency practitioners' complaints committee. The appointment is for five years.

Mr Holohan is qualified as a solicitor and notary public and insolvency practitioner as well as being an arbitrator and a trade mark practitioner. He is co-author of a number of books on insolvency subjects. He is a founder member of and current committee member of the Irish Society of Insolvency Practitioners.

BOEING ENGINE WOES

US regulators are poised to order airlines to avoid flying Boeing 787 Dreamliners and 747-8 jumbo jets with General Electric engines near thunderstorms after some of the planes experienced ice buildup.

A directive due this week is an "interim action" to ensure pilots fly clear of icy conditions that could reduce thrust from GEnx engines, the Federal Aviation Administration said.

INDIA GROWTH STALLING

India's economic growth is expected to stay below 5pc for a fourth straight quarter, the longest stretch in data going back to 2005, as Prime Minister Manmohan Singh struggles to boost investment and tame elevated inflation.

GDP rose 4.6pc in July through September from a year earlier, compared with 4.4pc in the prior quarter, according to the median of 35 economists' estimates.

REMY SALES IN DECLINE

Remy Cointreau, the maker of Remy Martin, said it expects a "substantial double-digit decline" in annual earnings as China's crackdown on extravagant gifting and dining weigh on demand for expensive cognacs.

The shares slumped as much as 9.7pc, the most in almost five years, after the company said the business climate will be "less favourable" in the second half of the year.

US FIRM FOLLOWS SUIT

US retailer Men's Wearhouse has struck back at Jos A Bank Clothiers with a $1.5bn (€1.1bn) bid to acquire the suit and tuxedo retailer, only weeks after rejecting a takeover offer from its smaller rival.

Men's Wearhouse, under pressure from shareholders to merge, offered $55 per share in cash for Jos A Bank, an offer that values the smaller retailer's stock at a 9pc premium to its close on Monday.

Irish Independent

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