Author: Practicenet

Britain could slash corporation tax to 10pc if the European Union uses the Brexit negotiations to block UK-based banks and businesses from the single market. A plan that would see Britain halving its headline tax rate from 20pc has reportedly been put forward by Prime Minister Theresa May’s advisers, amid growing fears other EU member […]

Dunnes Stores has become the country’s second-largest grocery retailer, pushing Tesco into third place in the multi-billion euro market, new figures this morning show. Dunnes, headed by siblings Margaret Heffernan and Frank Dunne, now has 22pc share of the grocery market here, according to data from Kantar Worldpanel. Supervalu, the chain controlled by Cork-based Musgrave, […]

Six out of 10 businesses expect to be the victim of cyber crime in the year ahead, and 90pc think the country is not prepared for a potential attack on the State. That’s according to a survey ahead of the Dublin Info Sec 2016 cybersecurity conference, which takes place in Dublin next month. It found […]

Intel could see a record €1.1bn fine for alleged anti-competitive behaviour reversed after one of the EU Court of Justice’s own lawyers said no rivals might have been harmed by the company’s actions. The world’s biggest chipmaker was slapped with the fine in 2009 after the European Commission accused it of squeezing out competition from […]

Dublin Airport is to get its third hotel, with the owners of the Radisson Blu there planning the multi-million euro construction of a new seven-storey, standalone venue on the site. CG Hotels wants permission for the 144-bedroom hotel, as well as restaurant and other facilities. It will be located in the car park of the […]

Oil and gas explorer Providence Resources has claimed victory in defending a legal bill for costs associated with a long running legal case. The Irish company lost the original case brought against it by Transocean Drilling – with the judge ordering Providence to pay $7m to its former drill partner. Providence had also guided that […]

A new 20pc tax on profits will hit so called vulture funds and other investor holding Irish property assets through previously low tax vehicles from the start of next year. The new 20pc withholding tax must be held back by fund managers before profits are distributed to investors, and therefore will be paid regardless of […]

Brexit could lead to some “civil unrest” in Northern Ireland again, particularly in relation to the border, a former senior PSNI officer has warned. Peter Sheridan, a former assistant chief constable but now the head of Cooperation Ireland, said protest in the north can become more dangerous if people feel their identity is being compromised. […]

New Generation Homes chief Greg Kavanagh has secured a massive payment in a deal understood to be valued in excess of €150m from his company’s financial backers, London-based M&G Investments, in a deal which will see him exit the business. The Irish Independent understands the agreement between the parties was reached yesterday afternoon following what […]

Sterling’s plunge since the UK’s June Brexit vote has finally forced Ryanair to cut its full-year profit guidance, after months of warning that such a move could be on the cards. The recent accelerated decline in the value of sterling prompted Ryanair to concede that its profit in the 12-month period that ends next March […]