Tuesday 20 March 2018

Ruling on Ryanair takeover bid due

THE European Commission will announce its decision today on Ryanair's bid for Aer Lingus Group, said Antoine Colombani, a spokesman for the Brussels-based regulator.

Mr Colombani referred in an email to the commission making a decision on the proposed acquisition of Aer Lingus by Ryanair today. He said an earlier statement by another spokesman that the EU would take a "major decision" referred to a merger case. Ryanair said earlier this month that the EU was planning to block its takeover attempt for its Irish rival.

ECB urged to weaken the euro

THE European Central Bank should weaken the euro, confronting the new "currency war" head on to help address economic stagnation in the region, French industry minister Arnaud Montebourg has said.

Calling for a more activist and "political" management of the currency shared by the eurozone, Mr Montebourg said he wanted "the European Central Bank to do its job". He said the euro was "too strong".

Net income down at Virgin Australia

VIRGIN Australia, Australia's second-largest carrier, posted first-half profit that missed analyst estimates amid a fight with Qantas and the impact of a carbon tax. The shares slumped.

Net income dropped 56pc to A$23m (€18m) in the six months to the end of December, the Brisbane-based company said. Qantas is headed by Dubliner Alan Joyce.

IBEC welcomes action on carbon

EMPLOYERS' group IBEC welcomed the publication by the Department of the Environment, Community and Local Government of draft legislation designed to enable Ireland's long-term transition to a low-carbon economy.

IBEC's energy chief Dr Neil Walker said: "The Irish business community broadly agrees that any national climate legislation should focus on how best to achieve our existing and future EU-mandated targets."

KBC appoints new distribution chief

KBC Bank Ireland has appointed Pat Watt as head of distribution.

Mr Watt will be responsible for multi-channel distribution including branches, pop-ups, mobile advisers, direct sales (phone, online and mobile), intermediaries and brokers, and customer service.

Irish Independent

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