Journalists

Tesco Ireland reports sales growth of 3pc in three months 

Tesco has reported like-for-like sales growth of 3pc in the Republic of Ireland in the three months to 26 May.

Housing is hampering search for employees 

The number of professional job vacancies in Ireland rose by 12pc month-on-month in May.

Majority of under-occupied dwellings in Europe found in Ireland 

MORE than two-thirds of the population in Ireland were living in under-occupied dwellings in 2016, according to the latest data from Eurostat.

Irish engineering firm wins €10m contract in Zambia 

Irish engineering consultancy firm Nicholas O'Dwyer has signed a €10m contract to carry out work on the $1.2bn Lusaka to Ndola road in Zambia.

Banks need to move quickly to sell off mortgages in arrears – Masding 

THE head of Permanent TSB has insisted to TDs that lenders need to move quickly to sell off mortgages that are in arrears.

Datalex reaffirms expected double digit growth for 2018 

Irish travel software firm Datalex has said that it expects to deliver double digit growth in its adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) for financial year 2018.

Yew Grove acquires East Wall buildings for €29m 

Yew Grove real estate investment trust (REIT) has acquired two office buildings in East Wall Dublin for €29m.

Lane speaks at ECB forum in Portugal 

Central Bank governor Philip Lane is among the speakers at the European Central Bank's forum taking place from today until Wednesday in Portugal.

Central Bank fines Appian Asset Management over cyber breach 

The Central Bank of Ireland (CBI) has issued a fine of €443,000 on Appian Asset Management for regulatory breaches causing the loss of client funds.

CRH receives regulatory approval for $3.5bn Ash Grove acquisition 

CRH has received regulatory approval from the US Federal Trade Commission to acquire cement manufacturer Ash Grove.

Cork-based Wisetek opens new US facility 

Cork-based Wisetek Solutions has opened a new operations centre in Sacramento, California.

Conroy Gold increases drilling in Monaghan following 'positive' results 

Natural resource exploration company Conroy Gold has announced plans to increase drilling at its gold deposit site in Monaghan.

Irish Ferries to take hit of up to €5m over cancellations 

The announcement from Irish Ferries operator ICG of another delay to the delivery of the WB Yeats ship is set to hit earnings at the company by a further €4m-€5m, according to Davy analysts.

'Europe needs to be intelligent in how it adapts to change' - Varadkar 

Taoiseach Leo Varadkar has told delegates at the MoneyConf that Europe needs to be intelligent in how it adapts to change.

Irish Ferries to take further hit of €4m - €5m from ship delay 

The announcement from Irish Ferries operator ICG of another delay to the delivery of the W.B. Yeats ship is set to hit earnings at the company by a further €4m - €5m, according to Davy analysts.

Keywords share up after US acquisition 

Shares in Irish video-gaming company Keywords Studios increased by more than 1.3pc to £18.32 in afternoon trading on the London Stock Exchange yesterday, after the company announced the acquisition of Hollywood-based Blindlight for a total consideration of $10m (€8.5m).

Global stash of foreign currency holdings is dominated by Asia 

China dominates in holding far more foreign currency reserves than any other nation, with the Asian economic powerhouse in possession of around $3.1trn in reserves.

Out of work for 12 months? This company is looking to recruit you 

Bank of America Merrill Lynch has opened applications for its latest 'Returning Talent' programme.

Construction activity rises at fastest pace for a year 

Growth in Irish construction activity accelerated again in May as firms continued to catch up from the weather disruption seen in March.

Karelian Diamond raises €569,390 in share placement 

Dublin-listed Karelian Diamond Resources has raised £500,000 (€569,390) through a share placing.

Ireland’s Keywords Studios is going to Hollywood with latest acquisition 

Irish video gaming company Keywords Studios has announced the acquisition of Hollywood-based Blindlight for a total consideration of $10m (€8.5m).

IDA welcomes Arch Capital decision to expand underwriting operations in Ireland 

The IDA has welcomed a decision from Arch Capital that it plans to apply to apply to the Central Bank to expand the group’s underwriting operations in Ireland.

Week 24: Money, Brexit and Korea - it's all talk 

Paddy Cosgrave's MoneyConf is expected to pull in close to 5,000 people over next three days.

Airbus seals deal for Bombardier C Series 

Airbus, Bombardier and Investissement Québec have agreed to close the deal for Bombardier C Series, the companies said in a joint statement today.

Paddy Power Betfair in new partnerships to access New York and New Jersey online markets 

Paddy Power Betfair US yesterday announced that it has reached long-term agreements for retail and online/mobile sports betting at a racetrack in New Jersey and at a New York casino.

Lloyds sells remaining stake in Standard Life Aberdeen 

Lloyds Banking Group has announced that it has sold its remaining stake in Standard Life Aberdeen.

Go-Ahead to create 425 new jobs with €8.5m investment 

Private bus company Go-Ahead will create 425 new jobs as part of an €8.5m investment in Ireland.

Zeus and Centaur announce new jobs 

In a busy day for job announcements yesterday, Irish-owned packaging solutions company Zeus announced plans to create 80 jobs as part of a €27m investment in new premises in Ireland and the UK.

Increase in electric vehicles isn't the end of the road for oil 

In 2016 electric vehicles represented about 1pc of global vehicle sales.

Private bus company Go-Ahead to create 425 jobs with €8.5m investment 

Private bus company Go-Ahead is creating 425 new jobs as part of an €8.5m investment in Ireland.

Freshly Chopped in partnership with Mount Charles to expand in Northern Ireland 

Freshly Chopped has announced plans to partner with Mount Charles to expand in Northern Ireland.

Irish packaging solutions company to create 80 jobs as part of €27m investment 

Zeus, an Irish owed packaging solutions company, is to create 80 jobs as part of a €27m investment in new premises in Ireland and the UK.

House of Fraser to close over of half its stores 

Retail chain House of Fraser is to shut over half of its stores impacting around 6,000 jobs.

Profits hit $319.4m at Dublin based aircraft lessor 

Dublin based aircraft lessor SMBC Aviation Capital has reported a 2.2pc rise in profit before tax to $319.4m (€270.5m) in the 12 months to 31 March, marking another year of record profitability for the group.

Origin Enterprises appoints new CFO 

Agri-services firm Origin Enterprises has appointed Sean Coyle as Chief Financial Officer ('CFO').

Yew Grove raises €75m ahead of IPO 

Yew Grove, a newly-incorporated Irish Real Estate Investment Trust, has raised €75m on its initial public offering (IPO).

Digital spend to take lead in €5.1bn Irish entertainment industry 

Digital spend will outpace non-digital spend in the Irish entertainment and media industry by 2020, according to a new report by professional services firm PwC.

Business outsourcing provider Abtran to create 350 jobs in Sligo 

Abtran, an Irish business process outsourcing provider, is creating 350 new jobs in Sligo.

Brexit drives increase for finance jobs in Ireland 

As the Brexit deadline of March 2019 grows closer, there has been a sharp uplift in hiring for financial services roles in Ireland, according to research from jobs site Indeed.

Starbucks chairman Howard Schultz to step down 

Howard Schultz is to step down as chairman from global coffee giant Starbucks after 40 years.

Newly incorporated Irish REIT raises €75m on IPO 

Yew Grove, a newly incorporated Irish Real Estate Investment Trust, has raised €75m on its initial public offering (IPO).

Air traffic control strikes and staff shortages sees Ryanair cancel more than 1,000 flights in May 

Low fares airline Ryanair cancelled over 1,100 flights in May as air traffic control strikes and staff shortages among air traffic controllers took its toll.

Dixons' Irish arm to escape closures 

Dixons Carphone Warehouse has confirmed that none of its 80-plus stores in the Republic of Ireland will be impacted by planned closures announced by the company.

Fáilte Ireland warns visitors may not be getting value for money 

Fáilte Ireland, Ireland's National Tourism Development Authority, has warned that the country needs to continue to be seen as offering an excellent value-for-money experience.

Zurich is the most expensive city in world, but Dublin’s ranking may surprise you 

The average person will have to work for just under 18 minutes to afford a Big Mac in Dublin.

Paddy Power Betfair commences share buyback programme 

Gambling giant Paddy Power Betfair will today to begin the first £200m (€229m) tranche of the share buyback programme it announced at the time of its first quarter trading update earlier this month.

Irish engineering group Mincon appoints Jussi Rautiainen as a non-executive director 

Irish engineering group Mincon has appointed Jussi Rautiainen as a non-executive director of the company with immediate effect.

Irish company focused on bad cholesterol treatment signs new distribution agreements in the Middle East 

Irish-listed Amryt Pharma has signed a further four distribution agreements for Lojuxta across the Middle East.

Tesco opens new €30m store in Dublin 

Tesco yesterday opened its biggest store in Ireland with the creation of 175 new jobs.

Ireland looks East as agri-food exports exceed €13bnin 2017 

Agri-food exports exceeded €13bn in 2017, with half of the growth in new overseas sales coming from markets outside of Europe.

Virgin Media seals deal for Cablevision 

Virgin Media Ireland has acquired Waterford-based Casey Cablevision for an undisclosed sum.

Virgin Media acquires Waterford cable television company 

Virgin Media Ireland has acquired Waterford based Casey Cablevision for an undisclosed price.

Ireland’s largest Tesco to open creating 175 new jobs 

Tesco Ireland will today open its biggest store in Ireland with the creation of 175 new jobs.

Gaming firm GAN taps US finance chief 

Gan, the gaming software company headed by Dermot Smurfit Jr, has appointed Richard Santiago as its chief financial officer.

European technology 'crying out for capital' says VC boss 

Dublin and London listed Draper Esprit plans to raise £176m (€201m) to back technology ventures across Europe.

Dublin-listed Draper Esprit to raise £176m to invest in tech companies 

Dublin and London-listed venture capital investor Draper Esprit is raising £176m (€201m) to invest in tech companies across Europe.

Smurfit Jr’s Gan appoints new CFO as it looks to expand in the US 

Gan, the gaming software company headed by Dermot Smurfit Jr, has appointed Richard Santiago as its chief financial officer.

Operating profit tumbles at SSE Airtricity owner amid 'complex challenges' 

Bottom line operating profit at SSE Airtricity owner SSE has fallen by 28.9pc year-on-year to £1.4bn (€1.6bn) amid what the company chairman described as "a number of complex challenges."

Firms feel squeeze in search for talent 

Inability to recruit staff is now the number one threat to small businesses in Ireland.

Match day revenue relegated as clubs rely on broadcast income 

Broadcasting revenue has become the most important source of income for Europe's leading football clubs, according to a report from credit ratings company DBRS Ratings.

United Oil & Gas share price rises on UK licence news 

Shares in London-listed United Oil & Gas were up over 3pc in afternoon trading yesterday after the company was awarded two "highly prospective" blocks in the UK North Sea.

United Oil & Gas awarded new license in UK North Sea 

London-listed United Oil & Gas has been awarded two highly prospective blocks in the UK North Sea.

Smurfit Kappa buys Dutch group Reparenco for €460m 

Packaging giant Smurfit Kappa has announced the acquisition of Reparenco, a Dutch paper and recycling company for €460m.

Ireland falls six places in world competitiveness rankings 

Minister for Business Heather Humphreys has expressed her disappointment after Ireland fell six places in the latest IMD World Competitiveness Rankings.

Rental income up 15pc in 12 months at Hibernia Reit 

Dublin-focused Hibernia Reit has seen its net rental income increase 15pc to €45.7m in the 12 months to 31 March 2018, according to preliminary results from the group today.

Aryzta revenue declines further as group announces €200m restructuring plan 

Troubled Swiss-Irish bakery group Aryzta has seen its group revenue decline 16.8pc to €811.4m in the three months to 30 April.

Record demand for graduate recruits as crash shortages push up salaries 

Demand for recent graduates is at an all-time high, according to the Hays Ireland 'Salary and Recruiting Trends 2018' report.

Robinsons' adult approach helps Britvic beat sugar tax 

The implementation of the sugar tax in the UK earlier this year has failed to sour results from Britvic, with demand for the company's Robinsons brand surging after it released drinks targeting adults.

Glandore invests €2m in space for co-working 

Family-owned Glandore has invested €2m in a co-working space in Dublin 2.

Glanbia aiming for revenue of over €5bn by 2022 

Food company Glanbia is aiming to achieve annual group revenue of over €5bn by 2022.

Kennedys law firm boosts Dublin office with two new partners 

Global law firm Kennedys is set to boost its Dublin office with the addition of two new partners.

Revenue increases but profit down due to business capability programme costs at Britvic 

Revenue at drinks group Britvic increased 4.5pc year-on-year to £733m in the 28 weeks to April 15.

Innovative startup trio join UCD hub 

NovaUCD, the hub for new ventures and entrepreneurs at UCD, has welcomed three new startups.

McCann FitzGerald bolsters US service 

Irish law firm McCann FitzGerald is increasing its investment and reach in the US market.

12,000 apply for jobs at First Derivatives as sales soar 

MORE than 12,000 students applied for 300 graduate roles at global analytics software firm First Derivatives.

'Flat-pack flats' come without furniture... and rent starts at €1,500 

It could be the perfect home for fans of flat-pack furniture - but these unfurnished one-bed apartments in Finglas will cost you €1,550 a month.

Data-sharing and facial recognition could boost border security 

Data-sharing and technology developments are among the ways to boost security at international borders, according to a World Economic Forum (WEF) expert.

US homecare provider announces 30 new jobs for Cork 

American homecare provider Right at Home is to create 30 jobs in Cork.

Ireland’s largest private landlord adds 104 apartments to rental market with one beds starting at €1,550 

Irish Residential Properties REIT (Ires Reit), Ireland's biggest private landlord, has completed the acquisition of 128 apartments in Finglas, Dublin.

Revenue and profits increase at UDG Healthcare 

Irish company UDG Healthcare, which is listed on the FTSE-250, has reported revenue of $675m for the six months to 31 March.

Revenue jumps 23pc at First Derivatives 

Global analytics software firm First Derivatives has reported revenue of £186m (€212m) in the 12 months to 28 February.

Greencore reports operating loss of £4.4m as 'challenges' in US division take their toll 

Convenience food giant Greencore has reported a group operating loss of £4.4m (€5m) in the six months to 30 March.

Manufacturing SMEs widen incentives in bid to attract key staff 

Small and medium-size manufacturers in Connaught and Ulster rely on a greater mix of incentives to keep employees - including flexitime, pension schemes, and health insurance.

Smurfit's Gan eyes Nasdaq listing as it seeks US growth 

Gan, the gaming software company headed by Dermot Smurfit Jr, has said that its medium-term strategy is to seek a listing on New York's Nasdaq Exchange.

Smurfit Jr's gambling software company raises £7.5m for US expansion 

GAN, the gaming software company headed up by Dermot Smurfit Jr, has raised £7.5m (€8.6m) as it continues its expansion in the US.

Enterprise Ireland-backed Cubic Telecom in new deal with Volkswagen 

Irish company Cubic Telecom, which connects cars and computers to mobile networks, has entered a new agreement with car giant Volkswagen.

Ryanair outlook on 'pessimistic side of cautious' as profits hit €1.45bn 

Ryanair’s outlook for financial year 2019 is "on the pessimistic side of cautious".

An Post sees boost to marketing mail despite GDPR rules 

AN POST is experiencing a boost to its direct mailing business ahead of the introduction of the General Data Protection Regulation (GDPR).

Wallet Watch... with Lynk Taxi CEO: 'My first business venture was selling broken biscuits and chocolate door-to-door' 

Noel Ebbs, a tech entrepreneur who has more than 20 years experience in taxi technology, founded Lynk Taxi in 2015.

Blackstone checks out of Hilton Worldwide hotel group 

Blackstone Group is checking out of Hilton Worldwide Holdings. The hotel chain's largest investor agreed to sell 15.8m shares, valued at about $1.3bn (€1.1bn) based on Thursday's close.

Barclays mortgage deal not a sign it's entering Irish market 

Barclays Bank's deal to buy £4bn (€4.5bn) of Irish mortgage is not a signal the bank intends to enter the retail market here, and the loan book will be immediately sold to a consortium of financial institutions, the Irish Independent understands.

Lloyds sells Irish mortgage book to Barclays 

Lloyds Banking Group has sold its Irish mortgage book to Barclays Bank for £4bn (€4.57bn).

Paddy Power up despite UK betting clampdown 

Shares in Paddy Power Betfair were up over 2pc yesterday on the Irish Stock Exchange, despite confirmation from the Department of Sport in the UK that it was clamping down on Fixed Odds Betting Terminals (FOBTs).

US deal sees Ocado deliver for backers 

The long-term backers of retailer Ocado Group can suddenly afford their own massive shopping sprees.

Irish Mothercare unaffected as 50 UK stores to shut 

The company that operates the Mothercare brand in Ireland says shops here won't be affected, after the struggling British retailer said it will close over a third of its stores there.

Mortgage lending at €198m but KBC Ireland profits fall 

The Irish arm of KBC Bank reported a profit of €59m after tax and impairments in the first three months of 2018.

Bar sales far off boom levels as the nation cuts down on drinking 

Bar sales in Ireland have yet to return to the highs seen in the Celtic Tiger, as consumers reduce their alcohol consumption levels.

Loss recorded but earnings grow at Venn Life Sciences 

AIM-listed contract research firm Venn Life Sciences has reported a loss of €1.5m in respect of 2017.

Profit falls at KBC Ireland despite increase in customer accounts 

KBC Bank Ireland reported a profit of €59m after tax and impairments in the first three months of 2018, down from a profit of €70.4m reported in the same period last year.

Paddy Power outline possible cost of UK legislation on fixed odds betting terminals 

Gambling group Paddy Power Betfair has outlined the possible impact to its revenue from UK legislation on fixed odds betting terminals (FOBTs).

AIB to sell non performing loans to consortium lead by Cerberus Capital 

AIB is to sell its non performing loans (NPLs) to a consortium lead by Cerberus Capital.

Ireland contributes €57m to KBC profit 

Irish operations at KBC Bank contributed €57m to the groups profit of €556m in the first quarter of 2018.

Dublin-listed Draper Esprit leads $29m funding in French software business 

Dublin and London-listed venture capital investor Draper Esprit has announced a £10m (€11.4m) investment in Aircall, a cloud-based call centre software business.

Paddy Power in discussions to combine US business with FanDuel 

Gambling group Paddy Power Betfair has confirm that it is in discussions to combine its US business with fantasy sports company FanDuel.

Bad weather impacts sales and profits at Bulmers owner C&C 

Poor summer weather impacted sales at Bulmers owner C&C as revenue fell by 4.9pc to €548.2m at the group in the 12 months to 28 February.