Journalists

FTSE 100 retreats as sterling rallies on report of possible Brexit delay 

British blue-chip shares retreated on Friday, pushed lower as sterling rallied following a newspaper report citing cabinet ministers saying Britain would have to delay its exit from the European Union.

European shares surf on post-Christmas recovery rally 

European shares opened higher on Friday, surfing on a global recovery rally which has lifted stocks from the lows hit just after Christmas thanks to optimism on Sino-US trade talks and a more dovish tone from the Federal Reserve.

Ghosn lawyers seek bail after ex-Nissan chief indicted on two new charges 

Defence lawyers for Nissan ex-chairman Carlos Ghosn said they will seek his release on bail after Tokyo prosecutors indicted him on Friday on two new charges of financial misconduct.

Virgin Atlantic and Stobart led consortium to takeover Flybe 

A consortium led by Richard Branson's Virgin Atlantic and Stobart Group has agreed an offer to take control of airline Flybe, valuing it at £2.2m (€2.4m).

Mike Ashley outs Debenhams chairman, forces CEO to step down 

Mike Ashley has forced the chairman of Debenhams to resign and the retailer's chief executive to step down from the board as the Sports Direct tycoon flexed his muscles at the firm's annual meeting.

New managing director of eir Business Martin Wells joins from Ibec 

Martin Wells has been appointed as the Managing Director of eir Business, joining from his role at Ibec Commercial Director.

Sterling falls as investors prepare for Brexit vote 

The pound edged down from a seven-week high on Monday as investors prepared for a vote on British Prime Minister Theresa May's Brexit deal that parliament is expected to vote down.

New Look in profit warning as sales decline 

New Look has warned over profits and announced plans for a debt for equity swap with its bondholders as part of a painful restructuring aimed at putting the struggling fashion retailer on a securer financial footing.

Sales increase at JD Sports despite though main street conditions 

JD Sports has posted robust sales growth despite the well-publicised tough conditions on the high street.

China's exports shrink most in two years, raising risks to global economy 

China's exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world's second-largest economy in 2019 and deteriorating global demand.

Bose wants to use its noise-cancelling technology in cars 

Bose wants to use the noise-cancelling technology found in its headphones to block out sounds from outside cars.

'Ricky and Morty' merchandise hits Penneys stores here this week 

Primark - which retails under the brand Penneys in Ireland - is set to debut a 'Rick and Morty' clothing line.

Christmas sales boost for Ted Baker as probe into founder continues 

Ted Baker has seen its Christmas sales jump despite allegations against its founder and challenges on the high street.

US-China trade talks conclude as hopes of a deal build 

Chinese and US teams ended trade talks in Beijing on Wednesday that lasted longer than expected and officials said details will be released soon, raising hopes an all-out trade war that could badly disrupt the global economy can be avoided.

Supply avalanche keeps upward pressure on euro zone bond yields 

European governments are expected to issue some €35bn of new debt this week, and anticipation of supply as well as recovering risk sentiment are keeping upward pressure on bond yields despite more weak data from Germany.

US-China trade talks boost European shares as commodity stocks, banks rally 

News of talks between Beijing and Washington over an ongoing trade war between the world's biggest economies boosted European shares on Friday after a gloomy week during which a rare revenue warning from Apple caused havoc.

UK house prices take pre-Brexit hit 

British house prices took a pre-Brexit hit in December, falling by the most in monthly terms since mid-2012 and rising by their slowest pace in nearly six years in annual terms, according to data from UK mortgage lender Nationwide.

Apple's first revenue warning in nearly 12 years shakes European shares as chipmakers tumble 

Apple's first revenue warning in nearly 12 years sent European shares sliding on Thursday with the tech sector particularly badly bruised as chipmakers which supply to the iPhone maker fell sharply.

Next sees festive sales rise but cuts profit forecast 

Fashion chain Next has cut its annual profit forecast and predicted falling earnings over the year ahead despite revealing a solid Christmas performance.

Rare revenue warning from Apple spooks world markets 

US stock futures fell and Asian shares stumbled on Thursday after a rare revenue warning from Apple added to worries about slowing global growth and weaker earnings and jolted currency markets.

North Sea oil producer Faroe hits back in takeover tussle 

The board of Faroe Petroleum has published a report which it says vindicates the decision to reject a hostile takeover bid from Norwegian energy firm DNO.

China slowdown, trade disputes weigh on Asia factory activity 

Factory activity weakened across Asia in December as the Sino-US trade war and a slowdown in Chinese demand hit production in most economies, strengthening the case for a pause in interest rate hikes in the region in 2019.

Would you holiday gadget-free? Digital detox getaways offer opportunity to 'disconnect to reconnect' 

DIGITAL detoxes have become the new way to really get away from it all with one hotel reporting a 300pc increase in holidays without gadgets.

Vodafone hangs up on PwC amid legal dispute 

Vodafone has launched a search for a new auditor after it emerged that incumbent PwC is embroiled in a legal dispute with the telecoms giant.

Stocks slump as Fed's outlook on rates disappoints 

Asian shares slid on Thursday after the US Federal Reserve raised rates, as expected, and kept most of its guidance for additional hikes over the next two years, dashing investor hopes for a more dovish policy outlook.

Virgin Atlantic still in talks over Flybe deal 

Virgin Atlantic has said that it is still considering whether to launch a takeover of regional airline Flybe.

Digicel bondholders agree to two year extension 

Digicel has received overwhelming bondholder acceptance for its offer to swap $2bn of bonds originally due to mature in 2020 for new secured bonds maturing in 2022.

SoftBank telco suffers rare Japan slump on debut after record IPO 

SoftBank Corp shares tumbled more than 14pc on debut, as investor appetite for Japan's biggest ever IPO was hurt by a recent service outage at the telecoms operator and worries over its exposure to Chinese telecoms gear maker Huawei.

Nissan CEO plans one-on-one meeting with Renault boss in Amsterdam - sources 

Nissan's CEO plans to meet one-on-one with the deputy CEO of automaking partner Renault in Amsterdam this week, sources told Reuters, amid tensions over the future of the alliance after chairman Carlos Ghosn's arrest last month.

Asia shares sink as global growth worries deepen 

Asian share markets sank on Tuesday as heightened worries about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year.

SSE and Npower switch off merger 

Energy giants SSE and npower have called off their merger, blaming "challenging market conditions" and the UK Government's price cap.

Asos issues profit warning as Christmas sales falter 

Online retailer Asos has warned over sales and profits after experiencing a "significant deterioration" in trading in the run-up to Christmas.

UK Foreign Secretary says version of Theresa May's deal can get through parliament 

UK Foreign Secretary Jeremy Hunt said on Saturday that the British parliament could back Prime Minister Theresa May's deal if MPs received assurances from the European Union, but warned that a no deal Brexit was still on the table.

Johnson & Johnson shares drop as company denies it knew about asbestos in its baby powder for decades 

Shares at Johnson & Johnson fell 10pc following the release of a disputed Reuters report which stated that the company knew for decades that its talcum baby powder supply contained asbestos.

Aldi's special 'Santa's Milk' hits the shelves again just in time for Christmas Eve 

Move over Kevin the carrot, there's a new kid in town with a direct line to Santa.

Sports Direct profits tumble on House of Fraser acquisition 

Sports Direct has reported a 26.8pc drop in underlying pre-tax profits to £64.4m (€71m) for the first half of its financial year following its acquisition of House of Fraser.

Live Britain's credit default swaps hit highest since 2016 Brexit vote 

News of a vote of no confidence against Britain's Prime Minister Theresa May on Wednesday pushed the cost of insuring UK government debt against default to its highest since the country's 2016 vote to leave the European Union.

Canada frees CFO of China's Huawei on bail 

A top executive of Chinese telecoms giant Huawei Technologies was granted bail by a Canadian court on Tuesday, 10 days after her arrest in Vancouver at the request of US authorities sparked a diplomatic dispute.

Nissan ex-chairman Ghosn files complaint over detention 

Carlos Ghosn, the ousted chairman of Nissan, has filed a complaint against a court decision to extend his detention following his re-arrest on fresh allegations of financial misconduct, the Tokyo District Court said on Tuesday.

Trade hopes support China, sterling totters on Brexit turmoil 

Chinese shares rose on Tuesday after Beijing confirmed it was still in trade talks with Washington, but investor confidence remained fragile in Asia after Britain's prime minister postponed a Brexit vote, sending the pound to near 20-month lows.

Former Nissan chief 'charged with under reporting pay' in Japan 

Former Nissan chairman Carlos Ghosn has been charged by prosecutors in Tokyo with under-reporting his income, according to Japanese media reports.

O2 plans to 'make up' for service outage that left millions unable to get online 

Mobile network O2 has said it plans to "make up" for a service outage that left millions of users unable to get online.

UK parliament vote on May's Brexit deal will take place as planned - source 

A British parliamentary vote on UK Prime Minister Theresa May's Brexit deal will take place as planned on December 11, a government source said on Friday.

European shares attempt to rebound following slump as trade war fears heighten 

European shares attempted on Friday to recoup losses sustained during the previous session's global selloff but lacked thrust from Wall Street and Asian markets for a significant rebound.

Pizza Express founder Peter Boizot dies at the age of 89 

A serial entrepreneur, Mr Boizot opened the first Pizza Express on Wardour Street, Soho, in 1965 and is credited by many with revolutionising the casual-dining experience.

Lyft ends months of speculation as ride-hailing firm files for IPO 

Ride-hailing company Lyft has filed with the U.S. Securities and Exchange Commission for an initial public offering, ending months of speculation about the timing of its much-awaited market debut.

Ericsson working with mobile operators O2 and Softbank to solve outage issues 

Ericsson said it was aware some of its mobile operator customers were suffering outages and it was working with them to solve the problem.

Former Tesco directors cleared of fraud over 2014 accounting scandal 

Two former directors of Tesco were acquitted on Thursday of fraud and false accounting at Britain's biggest retailer following a 2014 scandal.

Norwegian Air struggles to fill planes as fleet grows 

Budget carrier Norwegian Air struggled to fill its aircraft in November as capacity growth far outpaced demand, its monthly traffic report showed, sending its shares down 6pc in early trade.

Documents show Facebook gave preferential access to data to certain firms including Netflix and Airbnb 

Facebook gave certain companies, including Netflix and Airbnb, preferential access to user data, according to the company's internal documents released by a British lawmaker.

Theresa May rejects accusation of hiding Brexit facts as full legal advice published 

Britain could be kept "indefinitely" in a customs union with the European Union if UK Prime Minister Theresa May’s Brexit deal is backed, according to details of the government's full legal advice on the deal published on Wednesday.

European stocks drop to two week low on growth, trade nerves 

Worries about US bond markets signalling an impending recession and a still rumbling trade war between the world's two biggest economies sent European shares sinking further on Wednesday after a 3pc drop on Wall Street.

Patisserie Valerie appoints new financial chief 

Patisserie Valerie has appointed a new interim finance chief as the cake chain attempts to bounce back from a tumultuous few months.

UK authority to take action against Ryanair over refusal to compensate strike-hit passengers 

Ryanair is facing enforcement action by the UK airline regulator over its refusal to compensate passengers for flight disruption caused by staff taking strike action.

Takeda secures shareholder backing for €51.5bn Shire takeover 

Japanese drugs firm Takeda has won shareholder approval for its £46bn (€51.5bn) acquisition of Shire.

Brexit legal advice to be published after ministers found in contempt of parliament 

Theresa May's government was found in contempt of parliament on Tuesday for refusing to release its full legal advice on Brexit, underlining the depth of opposition among lawmakers to her deal on leaving the European Union.

Pilot deal gives Ryanair clear skies for Christmas in Germany 

Ryanair has reached an agreement on wages and benefits with the main German pilot union that will ensure there is no repeat of strikes that disrupted flights in the country before last Christmas.

'If you're going to leave, leave, but don't do this halfway house' - Tony Blair on second Brexit referendum 

Former UK prime minister Tony Blair said any second Brexit referendum should be a choice between remain and a hard Brexit.

Marlet acquires Apollo House site in deal worth more than €50m 

Developer Pat Crean's Marlet Property Group has paid more than €50m to acquire the site of the former Apollo House office block in Dublin city centre.

Is this relationship heating up? Amazon to allow Apple Music on its Echo speakers 

Amazon has said that Apple Music will become available on its Echo smart speakers starting December 17, signaling increasing collaboration between the tech heavyweights.

Bitcoin heads towards one-year low as it falls over 7pc 

Bitcoin has fallen as much as 7pc, heading towards a recent one-year low in a broad-based selloff in cryptocurrencies.

Car stocks and miners drag Europe down as weak China data and trade fears sap confidence 

European shares fell back on Friday as weak data from China rekindled anxiety over slowing growth and investors fretted ahead of Saturday's crucial G20 talks between US President Trump and China's Xi Jinping over trade.

US files criminal charges against Irish born Mike Lynch over HP sale 

The United States has filed criminal charges against Mike Lynch over the $11bn (€9.6bn) sale of the British software company Autonomy to Hewlett-Packard seven years ago, the Financial Times reported on Friday.

Japan-France spat over Nissan-Renault brews as Ghosn remains jailed 

Japanese Prime Minister Shinzo Abe and French President Emmanuel Macron were arranging to meet on the sidelines of the G20 summit meeting, media said, amid signs of a brewing diplomatic feud over the power balance at the troubled Renault-Nissan alliance.

Starbucks to enforce ban on accessing porn through its free WiFi 

Well you were warned...Starbucks looks like it's staying true to its word by blocking porn accessed through its free in-store WiFi.

Tullow Oil returns to dividends in 2019 

Africa-focused Tullow Oil will return to paying dividends, which it suspended in 2015 due to the oil price crash, and expects to pay out at least $100m (€88m) from next year, with an option for a special dividend for this year, it said.

Unilever boss steps down after 10 years 

The Unilever boss who fended off Kraft's takeover bid and oversaw a failed plan to abandon its London listing is to retire in the new year.

Cleaner's conviction for lying on CV about finishing primary school triggers outrage 

A Greek appeals court suspended a 10-year jail term imposed on a cleaner whose conviction for lying on her CV about finishing primary school triggered outrage in the country.

Prosecutors want Poland's former head of financial regulator arrested - state news agency 

Polish prosecutors have requested the temporary arrest of Marek Chrzanowski, the former head of the country's financial regulator, state news agency PAP reported on Wednesday.

EU court adviser to publish opinion on Brexit reversibility case next week 

The advocate general of the European Union's top court will give his opinion on December 4 as to whether Britain can unilaterally reverse Brexit, the court said on Wednesday.

CityJet named regional airline of the year 

CityJet has been named 'Regional Airline of the Year' at the CAPA Aviation Awards at the world aviation outlook summit in Berlin.

Trump tariff talk pushes dollar to near two-week highs 

The US dollar rallied on Tuesday after US President Donald Trump said that he would push ahead with tariffs on Chinese goods, fuelling concern about a Sino-US trade war and boosting demand for the greenback.

Thomas Cook cuts profit forecast, suspends dividend on weak British market 

Thomas Cook cut its forecast for full-year underlying operating profit for the second time in two months on Tuesday and suspended its dividend after the hot British summer deterred holidaymakers from going abroad.

Brexit deal to mean 4pc hit to UK economy by 2030 - leading think tank 

The British government's Brexit deal with Brussels is likely to mean Britain's economy will be 3.9pc smaller by 2030 than if it were to stay in the European Union, a leading think tank said on Monday.

Russia opens civil case against Google for failure to remove certain entries - watchdog 

Russia has formally opened a civil case against Google and could fine it up to 700,000 roubles (€9202) for failing to comply with a legal requirement to remove certain entries from its search results, the communications watchdog said on Monday.

Mitsubishi Motors ousts Ghosn as chairman, days after Nissan firing 

Mitsubishi said on Monday its board removed Carlos Ghosn from his role as chairman, following his arrest and ouster from alliance partner Nissan last week for alleged financial misconduct.

Pound rises on EU Brexit deal approval 

The pound rose today after the European Union sealed a Brexit deal but the currency's gains were curbed by doubts about Prime Minister Theresa May getting the agreement through a divided British parliament.

Italy discussing reducing 2019 deficit target 

Italy's governing coalition is discussing reducing next year's budget deficit target to as low as 2pc of gross domestic product to avoid a disciplinary procedure from Brussels, a government source said on Monday.

Ghosn in firing line again as Mitsubishi Motors board meets 

Mitsubishi Motors’ board will meet today to remove Carlos Ghosn from his role as chairman after his arrest and ouster from alliance partner Nissan last week for alleged financial misconduct.

Greencore completes sale of US business 

Greencore has completed the sale of its entire US operation for $1.07bn (€943m) to Hearthside.

Italian stocks lead Europe in recovery driven by banks, technology 

European shares climbed modestly at the end of a volatile week, with banks and technology stocks, which have been hit hard by growth worries, leading the way, while Italian stocks rallied as bond yields fell.

Nissan board fires chairman Carlos Ghosn 

Nissan's board ousted Chairman Carlos Ghosn on Thursday after the shock arrest of the industry heavyweight, Japanese broadcaster NHK reported without citing sources, ushering in a period of uncertainty for its 19-year alliance with Renault.

Asian shares fragile as growth worries sap confidence 

Asian shares seesawed in cautious trading on Thursday with China extending losses as investors worries about slowing global growth in the face of rising US interest rates and trade tensions.

Ryanair launches twice weekly service from Dublin Airport to Ukraine capital 

Ryanair is launching a new service from Dublin Airport to the capital of Ukraine.

Nissan shares slump as global alliance rocked by Ghosn's arrest 

Nissan shares fell nearly 6pc on Tuesday as chairman Carlos Ghosn's arrest a day earlier sent shockwaves through the business world and threw into doubt the future of Japan's No.2 automaker and its global alliance.

Profits jump at EasyJet on the back of record passenger numbers 

Low-cost airline EasyJet has reported pre-tax profits of £578m (€649m) for the year to September 30, up from £408m (€458m) the previous year.

No-deal Brexit fears push Irish bond yield spreads to widest in over five months 

Irish government bond yield spreads over Germany were near their widest level since late May as worries over the economic impact of a messy Brexit hurt demand for the country's debt.

EU's Michel Barnier 'suggests Brexit transition could be extended until 2022' 

The Brexit transition period could be extended by two years under proposals suggested by the European Union's chief negotiator, it has been reported.

New 18-storey luxury hotel turns disused mine into 'treasure' with underwater bedrooms 

A luxury hotel opening in China is offering guests with deep pockets the chance of a very deep sleep.

Euro zone bond yields creep up, Brexit strife limits rise 

Government bond yields in the euro area edged up on Friday as some stability returned to British markets following the previous day's Brexit-driven turmoil.

'We will not extend Article 50' - Theresa May states that Britain will leave the EU in March as planned 

Britain will leave the European Union on March 29 and will not suspend the process of leaving, Prime Minister Theresa May said on Thursday, adding that it would meet its legal obligations on a financial settlement with the bloc.

Sterling plunges as Brexit minister Raab resigns 

The pound plunged against both the euro and the dollar on Thursday after British Brexit minister Dominic Raab resigned in protest at Prime Minister Theresa May's draft deal for leaving the European Union.

Sterling pauses as traders brace for backlash in UK 

The euro strengthened on Thursday as investors cautiously welcomed Britain's draft Brexit deal with the European Union and concerns about the Italian budget stand-off eased.

US and China resume high-level trade talks – reports 

China and the United States have resumed high-level talks on trade, the Chinese commerce ministry's spokesman Gao Feng said at a weekly press briefing in Beijing on Thursday, without giving details.

'A decisive step... but difficult days ahead' - Theresa May wins cabinet battle as draft Brexit deal backed 

BRITISH Prime Minister Theresa May has won the battle within her Cabinet to secure support for a Brexit deal with the EU.

Bitcoin stumps analysts as currency falls to more than one-year low 

Bitcoin fell to a more than one-year low, falling below a key support level of $6,000, with traders and analysts unclear on what caused the sudden drop in price.

Six Independent Newspapers journalists shortlisted for 2018 UCD Smurfit School Business Journalist Awards 

Six Independent Newspapers journalists have been shortlisted for the 2018 UCD Smurfit School Business Journalist Awards.

Sterling catches breath before UK cabinet meeting 

Sterling steadied after posting its biggest jump in two weeks on Tuesday as investors await the outcome of a cabinet meeting where Prime Minister Theresa May will try to convince her ministers to accept a draft European Union divorce deal.

Under-pressure airline Flybe holds talks about possible sale 

Under-pressure regional airline Flybe has said it is in talks with a number of "strategic operators" about a possible sale of the group.

Amazon ends year-long bidding contest as it splits new $5bn HQ between two cities 

Amazon picked America's financial and political capitals for its $5bn new headquarters, saying it will build offices for up to 25,000 people in New York City and close by Washington, D.C.

Flipkart CEO Binny Bansal resigned after sexual misconduct claim - source 

The investigation into Flipkart Group chief Binny Bansal that led to his resignation stemmed from an allegation of sexual assault that dates back a few years, a person familiar with the matter told Reuters.

Jameson looking for graduates of 'serious character' to apply for international programme 

Jameson are calling for graduates "with serious character" to become international brand ambassadors for the firm over a three year period.

Euro zone bond yields inch down as China data fans growth worries 

German 10-year bond yields fell from more than two-week highs on Friday, leading a move lower in most euro area debt yields as weak Chinese economic data fuelled concerns about the global growth outlook.

Stores in the UK hit by retail woes as 14 shops close each day 

Around 14 shops are closing on Britain's main streets every day, according to a new study.

EU considering probe into Facebook's European tax arrangements 

The EU is considering a probe into Facebook’s European tax arrangements, with Ireland’s tax treatment of multinationals again in the spotlight, Politico reported.