Journalists

Co-founder hails new biopharma startup 

Biopharma firm Sitryx has launched with $30m (€26m) Series A funding.

'We can't compete with the big guys, all we can do is be different' - how this brewing company is setting itself apart 

In an increasingly saturated craft beer market, Rye River Brewing Company has set itself apart by offering consumers something different.

Patisserie Holdings suspends shares following the discovery of potentially fraudulent accounting irregularities 

Patisserie Holdings, the owner of Patisserie Valerie, has suspended its shares following the discovery of potentially fraudulent accounting irregularities.

Softbank in talks to take majority stake in WeWork 

Japan's SoftBank is in talks to take a majority stake in shared office space provider WeWork, in what would be one of the largest deals of the past decade's startup boom, the Wall Street Journal reported on Tuesday.

Shares in Paddy Power tumble as betting tax doubles 

Shares in Paddy Power Betfair fell almost 5pc after the Finance Minister announced plans to double the betting tax levy to 2pc from 1pc.

Aer Lingus CEO to step down next year 

IAG has announced that Stephen Kavanagh, CEO of Aer Lingus, is stepping down on 1 January 2019.

Cork's CIX data centre expands with €6m investment 

Cork's CIX data centre has expanded with a €6m investment.

US tech company to create 100 jobs in Sligo 

US-based tech company Overstock is to create 100 jobs in Sligo.

Aryzta €800m capital raise 'in the best interest of all stakeholders' – board 

Troubled Irish-Swiss food group Aryzta has confirmed its plan to raise €800m in equity, despite opposition from shareholder Cobas Asset Management.

Glanbia agrees to acquire SlimFast for $350m 

Irish food and nutrition group Glanbia has agreed to buy SlimFast for $350m (€303m).

IPUT pre-lets One Wilton Park to LinkedIn 

Property fund IPUT has pre-let the entirety of One Wilton Park in Dublin to LinkedIn.

Mark Wilson steps down as Aviva CEO 

Mark Wilson has stepped down as chief executive of Aviva Insurance.

Value of 'brand Ireland' pushes it into world's top 30 

Ireland’s ‘nation brand’ has jumped 26pc to €468bn according to a global report by consultants Brand Finance.

Citi fined €1.3m for six code of practice breaches 

The Central Bank has fined Citibank €1.3m after it admitted six breaches of the code of practice governing loans to directors, executives and large shareholders.

Dell Ireland boss Keegan wins businesswoman award 

Aisling Keegan, vice-president and general manager of Dell EMC Ireland, has received the Women Mean Business 2018 Businesswoman of the Year award.

Kingspan joins initiative to reduce greenhouse gas emissions 

Kingspan has joined over 370 companies worldwide in committing to the Science Based Targets Initiative (SBTi) to reduce greenhouse gas (GHG) emissions.

Providence Resources appoints as Angus McCoss as senior independent director 

Irish oil and exploration company Providence Resources has appointed Dr Angus McCoss as senior independent director with immediate effect.

Tourism industry sentiment falls on Brexit concerns 

Sentiment in the tourism industry is down slightly this year, an indication that perceptions regarding growth in the sector are dipping.

Kennedy Wilson acquires site in Dublin’s North Docks for €113m 

Kennedy Wilson, alongside its joint venture partners, AXA Investment Managers and Cain International, has acquired one of the last remaining mixed-use development sites in Dublin’s North Docks for €113m.

Services sector activity accelerates in September 

Growth in the Irish services sector accelerated in September on the back of a further sharp expansion in new business.

Tesco sees half-year profits rise 2pc to €633m 

Tesco has reported a 2pc rise in half-year profit before tax of £564m (€633m).

Drinks industry warns of Brexit hit 

The impact of a hard Brexit on Ireland's drinks and hospitality sector could cost the Exchequer €135m a year.

Canadian tech firm Soti in €20m Irish expansion 

Canadian tech company Soti is to create 150 jobs in Galway with the opening of a new office.

Cubic to roll out Audi Q8 system across Europe 

Tech company Cubic Telecom has extended its partnership with car manufacturer Audi.

Customers experiencing welfare payments delay should get funds into accounts by end of day 

Customers whose social welfare payments were affected can expect payment to reach their account over the course of today.

IoT solutions firm SOTI creates 150 jobs in Galway with opening of new office 

SOTI, which provides mobile and IoT device management solutions, is to create 150 jobs in Galway with the opening of a new office.

Impact of hard Brexit on drinks and hospitality sector could cost the Exchequer €135m - report 

The impact of a hard Brexit on Ireland’s drinks and hospitality sector could cost the Irish Exchequer €135m annually.

Ryanair traffic up 6pc in September despite industrial unrest 

Ryanair traffic grew 6pc to 12.6 million customers in September, despite on-going industrial unrest.

Irish company that connects cars and computers to mobile networks extends partnership with Audi 

Irish company Cubic Telecom has extended its partnership with Audi, with the expansion of its connectivity management solution for the new Audi Q8’s across Europe.

On board: Glanbia's Talbot takes director role at CRH 

Glanbia managing director Siobhan Talbot has joined CRH as a non-executive director.

Buyback of bonds ends prospect of FBD takeover 

FBD will hit the market as early as today to raise a new €50m bond, and is expected to pay interest of around 5pc a year.

Manufacturing growth dips but still outperforms eurozone 

Growth in the Irish manufacturing sector fell slightly in September.

Silver lining: boosting the working lives of the over-55s could add €27bn to the Irish economy 

Keeping more of those aged 55 or older in the workforce could add €27bn to the Irish economy in the long run.

Manufacturing growth falls in September 

Growth in the Irish manufacturing sector fell slightly in September.

Glanbia managing director joins the board of CRH 

Glanbia’s managing director Siobhan Talbot has joined the board of CRH as a non-executive director.

Ryanair share price falls as it cuts 2019 profit guidance, blaming lower traffic and oil prices 

Ryanair has lowered its full year profit guidance for 2019 from a current range of €1.25bn - €1.35bn, to a new range of €1.10bn - €1.20bn.

FBD to purchase and cancel €70m of notes held by Fairfax 

FBD Insurance has agreed to purchase and cancel the €70m in convertible notes held by Fairfax Financial Holdings for approximately €86m in cash.

Hban’s medtech syndicate leads €1.1m investment in Ostoform 

Halo Business Angel Network (Hban), an all-island organisation responsible for the promotion of business angel investment, has announced that its medtech syndicate has led a €1.1m Series A funding round in medical device start-up, Ostoform.

Underlying profit tumbles 72pc at troubled food group Aryzta 

Underlying net profit at troubled food company Aryzta has tumbled 72pc to €49.6m in the 12 months to 31 July.

Gan bets on 2019 growth as income rises 28pc 

Dermot Smurfit Jr's Gan has reported a 28pc jump in income in the six months to June 30 to £23.8m, (€26.7m) according to a trading update.

Head of Central Bank hails slowdown in surging house prices 

The Governor of the Central Bank Philip Lane has welcomed indications that the surge in house prices is showing signs of abating.

Irish house prices flatlining 'good news' – Philip Lane in Bloomberg interview 

Governor of the Central Bank Philip Lane has said that Irish house prices flatlining is "good news".

Income jumps 28pc at Smurfit Jnr's Gan 

Dermot Smurfit Jr's Gan has reported a 28pc jump in income in the six months to 30 June.

Applegreen raises €175m to help fund UK acquisition 

Petrol forecourt retailer Applegreen has raised €175m to help fund its acquisition of Welcome Break in the UK.

Operating profit falls 18pc at ESB 

The ESB’s operating profit tumbled 18pc in the six months to 30 June, in what the group described as a "satisfactory financial performance in challenging market conditions".

Irish oil and gas explorer Aminex swings into a loss 

Irish oil and gas explorer Aminex has reported an interim loss of $2.36m (€2m) for the six months to 30 June.

Will UK consumers demand a cheap food policy post Brexit? 

Approximately 50pc of people shopping in Tesco in the UK have £85 or less to feed a family for a week, IFA President Joe Healy told a Brexit briefing this week.

'Everything, including CAP, will be hit if there is a hard Brexit' 

Everything will be hit, including CAP, if there is a hard Brexit, RTE Europe Editor Tony Connelly told a recent Brexit conference.

Union boss tweets that he's leaving post 

The general secretary of the Financial Services Union, which represents bank workers, has left the post after just seven months.

Spanish bank is first foreign lender since crash to enter Ireland 

A SPANISH bank has bought Irish credit operator Avantcard in a move that raises the prospect of a new foreign lender shaking up the market.

Bankinter enters Irish market through Avantcard acquisition 

Spanish bank Bankinter is to enter the Irish market following its acquisition of Avantcard.

Big ticket purchases still more likely to take place on desktop or tablet 

Big ticket purchases are still more likely to take place on desktop or tablet, according Wolfgand Digital’s annual report for e-commerce websites.

Dublin-listed Ormonde Mining reports loss of €411,000 over six months 

Dublin-listed Ormonde Mining has reported a loss of €411,000 for the six months to 30 June.

DCC announces 'significant' business expansion in North America 

Irish conglomerate DCC has announced the "significant" expansion of its business in North America with the acquisition of the Jam group of companies.

Small firms fear Brexit tariffs and CAP budget cuts 

Tariffs, currency fluctuations and corporation tax were among the concerns raised by more than 230 small business owners and interest group representatives at a Brexit event yesterday.

Jobs mainly done by men most likely to be hit by AI 

Traditionally male-orientated jobs are most likely to be impacted by advances in technology, according to a leading academic.

Venn Life shares slump 17pc on loss and income fall 

Shares in AIM-listed clinical research firm Venn Life Sciences were down over 17pc in afternoon trading in Dublin yesterday after it revealed an operating loss of €260,000 for the six months to June 30.

Next sets up Irish company as it braces for Brexit 

Retail giant Next has established a company in Dublin that will manage its cross border customs issues inside the European Union if there is a hard Brexit.

High-flying China: Nation tipped to be global aviation leader as it develops drone technology 

China is set to become a leading force and disrupt the world of aviation, according to a paper from the World Economic Forum (WEF).

Revenue and earnings decline at Venn Life Sciences 

AIM-listed contract research firm Venn Life Sciences has reported an operating loss of €260,000 for the six months to 30 June.

Eumom rebrands to reach even more mothers 

Irish parenting community website Eumom is to rebrand as Everymum.

Household debt at its lowest level since 2005 

Household debt has fallen to its lowest level since 2005.

L1 Treasury and Airborne Capital announce $250m portfolio to buy aircraft 

Dublin head-quartered specialist aircraft leaser Airborne Capital has joined forces with L1 Treasury to create a $250m (€213m) portfolio to buy commercial aircraft.

Over 100 jobs announced for the Mid-West region 

Nine businesses are to create 106 jobs in Tipperary, Limerick and Clare.

Agri-food exporters may benefit as China lines up big tariff cut 

Irish agriculture could be in line for a major boost as China cuts tariffs for the majority of its trading partners.

First-half revenues increase to €339,000 at Mainstay 

Dublin-listed Mainstay has seen its revenue increase to $400,000 (€339,000) in the six months to June 30.

SuperValu plans rollout of new Donnybrook Fair outlets after deal 

Supervalu and Centra owner Musgrave plans to add new Donnybrook Fair outlets after sealing a deal to buy the Dublin deli chain yesterday.

Greencoat buys 9.2MW wind farm for €11m 

Dublin-listed renewables investor Greencoat Renewables has acquired Knocknalour wind farm for €10.9m.

Ulster Bank mobile banking issue resolved 

Ulster Bank has confirmed that an issue with its online and mobile banking has been resolved.

SuperValu owner Musgrave to acquire upmarket food chain Donnybrook Fair 

SuperValu owner Musgrave is to acquire Donnybrook Fair for an undisclosed sum.

Revenue increases at company focused on treatment of lower back pain 

Dublin-listed Mainstay has seen its revenue increase to $400,000 (€339,000) in the six months to 30 June.

Ulster Bank customers impacted by issue with bank’s mobile banking service 

A number of Ulster Bank customers are currently being impacted by an issue with the bank’s Anytime and Mobile Banking services.

Greencoat Renewables acquires Knocknalour wind farm for €10.9m 

Dublin-listed renewables investor Greencoat Renewables has acquired Knocknalour wind farm for €10.9m.

Half year profit jumps 33pc at Applegreen to €109m 

Petrol station business Applegreen has seen its gross profit jump 33pc year-on-year to €109.2m in the six months to 30 June.

More females required to meet construction demand – CIF 

Increasing numbers of female construction workers is key to solving Ireland’s housing and infrastructure crises.

Diageo faces €50m profit hit from currency fluctuations 

Diageo shares were up slightly in afternoon trading in London yesterday despite the company warning that its sales and profits would be impacted by currency volatility.

Providence shares jump as it reveals €16m Barryroe backing 

Shares in Providence Resources were trading up over 8pc on the Irish Stock Exchange yesterday, on the news that it is set to get a $19.5m (€16.6m) advance in funding in respect of its Barryroe site.

Digital skills 'need shake-up' with record number of SMEs online 

The number of small and medium-sized businesses in Ireland with no digital presence has dropped to its lowest level.

Soaring US mergers set to break 100 for 2018 

Merger activity by US companies in Ireland has soared this year.

Further dairy sector mergers 'inevitable' 

Further consolidation in the dairy processing sector is "inevitable" according to Conor Mulvihill, director of Dairy Industry Ireland.

Eversheds Sutherland appoint new partner in Belfast office 

Law firm Eversheds Sutherland has announced the appointment of Matthew Howse as partner in its Belfast office.

Diageo expects €50m hit to profits from currency volatility 

Drinks giant Diageo has said that it expects net sales and operating profit to take a hit of £175m (€197m) and £45m (€50.6m) respectively as a result of foreign exchange volatility.

Losses decline at Providence, Barryroe agreement now includes an advance of $19.5m 

Irish oil and exploration company Providence Resources has reported an operating loss of €2.2m in the six months to 30 June.

Shares in B&Q owner hit as results below analyst expectations 

Shares in Kingfisher, the owner of DIY chain B&Q, were down more than 3pc in afternoon trading in London yesterday after interim results came in below expectations.

Further dairy sector mergers 'inevitable' 

Further consolidation in the dairy processing sector is "inevitable" according to Conor Mulvihill, director of Dairy Industry Ireland.

Retail profits fall 14pc at B&Q owner 

Group retail profits at B&Q owner Kingfisher fell 14pc year-on-year to £404m (€455m) in the six months to 31 July.

Freshly Chopped to create 150 jobs with 10 new stores 

Irish food company Freshly Chopped is to create 150 new jobs in ten new stores.

Greencoat generates cash of €13.4m in six months 

Renewable infrastructure fund Greencoat generated net cash of €13.4m in the six months to 30 June.

EquiLend opens Dublin office to beat Brexit fallout 

Securities lending platform EquiLend has opened a Dublin office. The group, which provides trading, post-trade, market data and clearing services for the securities finance industry, said that the move means it will be able to continue offering its platform to EU clients after Brexit.

VR Education reports loss but 'strong' cash position in first results 

Virtual reality software firm VR Education has recorded a loss before tax of €4.1m for the six months to June 30.

Game firm Keywords Studios has €100m to fuel acquisition spree 

Irish video-game company Keywords Studios has more than €100m available to spend on acquisitions, according to the group's chief executive Andrew Day.

Show us the money: Eight in 10 employers forced to raise wages as more staff ready to quit for cash 

Eight out of 10 medium-sized and large employers increased staff salaries last year - and half of the same cohort intend to raise pay rates next year.

Eight in ten employers have increased salaries in 2018 – report 

Eight in ten employers have increased salaries in 2018, according to research carried out by Adare Human Resource Management.

VR Education reports loss in maiden results, but cash position is 'strong' 

Irish virtual reality and software firm VR Education has recorded a loss before tax of €4.1m for the six months to 30 June.

Securities lending platform opens Dublin office to serve European clients post Brexit 

Securities lending platform EquiLend has opened an office in Dublin to serve European clients post Brexit.

Revenue up at Keywords Studios as acquisitions pay dividends 

Irish video-game company Keywords Studios has seen its revenue increase 72pc year-on-year to €110m in the six months to 30 June.

Profits jump at Green Reit on the back of increased rental income 

Real estate investment trust company Green Reit has seen its profit after tax jump 11pc to €144.2m in the 12 months to 30 June.

EU to rule on Microsoft deal as tech giant adds 200 Irish jobs 

EU competition regulators will decide by October 19 whether to clear Microsoft's $7.5bn (€6.4bn) acquisition of privately-owned coding website GitHub.

Australian software company opens EMEA base in Cork 

Australia company HealthKit, a cloud-based healthcare management platform, has opened its Europe, Middle East and Africa office in Cork.

Primark chief operating officer to takeover at Boohoo 

Online fashion retail group Boohoo has announced the appointment of John Lyttle as CEO with effect from 15 March 2019.

Microsoft to create 200 new jobs at Dublin campus 

Microsoft is to increase its presence in Ireland with the creation of 200 new jobs at its Dublin campus.

'Being a woman in a male dominated industry gave me an opportunity and a voice' - Kingspan's digital director 

Having joined Kingspan’s graduate programme just over 12 years ago, Louise Foody has worked her way up though the ranks of the global insulation maker.

UK asset manager in Brexit switch to Dublin 

British Investment manager Ashmore is to open a Dublin office as part of its Brexit contingency plan.

Dixons Carphone says Irish performance 'strong' 

Dixons Carphone reported a "strong" trading period in the first quarter of 2018/2019 in Ireland.

Galway jobs boost as pharma firm Chanelle expands 

chanelle group is to add 350 jobs to its 500-strong workforce in the Galway town of Loughrea.