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Business travellers bet on Ireland escaping Brexit fallout

The effect on Ireland of the Brexit referendum may not be as bad as first feared, according to a survey of foreign business travellers to Ireland. The survey, carried out by Europcar, asked 500 business travellers a range of questions about their view on Ireland in the wake of the UK referendum. The findings reveal […]

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‘Perfect addition to our collection’: Gresham Hotel sold for €92m

The €92m sale of the Gresham Hotel in Dublin to Spain’s Riu group has been completed. NAMA put the property up for sale earlier this year. The iconic Dublin hotel was owned by Precinct Investments, which is controlled by builder Bryan Cullen. Precinct is the vehicle that was used in 2004 to take the then […]

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EU air rules could drive Ryanair’s investors from UK

Ryanair’s ownership structure could come under pressure following Brexit if UK investors in the airline are considered non-European Union residents for the purposes of shareholding rules. At the airline’s 20th annual general meeting as a public company yesterday, chief executive Michael O’Leary warned that in a worst-case Brexit scenario, the carrier’s UK shareholders could be […]

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Nightline adds 150 new jobs in €3m investment

Logistic and delivery service Nightline has created 150 new jobs as part of a €3m investment by the firm. The investment comes as the company expands its premium services, which include same day, evening, and weekend deliveries. As a result of the spend Nightline has opened three new depots in Swords in Dublin, Omagh in […]

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Irish software firm bought by NASDAQ listed Amdocs

Irish software start-up company Brite:Bill has been bought by NASDAQ listed Amdocs in the latest successful exit for Irish venture capital investors. Founded in 2010, Dublin based Brite:Bill develops communications software for corporate billings systems. It was backed by investors including the Ulster Bank Diageo Venture Fund, venture capital firm Delta Partners, as well as […]

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Irish economy grew by 0.6pc in the second quarter – CSO

The Irish economy grew by 0.6pc in the second quarter of the year, according to CSO figures released this morning. The CSO said the growth was driven by “investment in intellectual property products imported from abroad” – a reflection of the activities of multinational companies who have moved activities here. It said it could not […]

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Porsche is sued over Volkswagen emissions scandal

Porsche SE, the main shareholder of Volkswagen, is facing lawsuits from investors claiming the firm did not disclose the financial risks of VW’s emissions scandal uncovered a year ago. A spokesman at Porsche SE said yesterday that Frankfurt-based law firm Nieding + Barth had filed 12 lawsuits against the firm which controls 52.2pc of VW’s […]

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Oil glut now forecast to continue into next year

OPEC raised its forecast of oil supplies from non-member countries in 2017 as new fields come online and US shale drillers prove more resilient than expected to low prices, pointing to a larger surplus in the market next year. Demand for crude oil from the Organization of the Petroleum Exporting Countries (OECD) will average 32.48 […]

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Shares fall as sterling hits owner of Primark

Shares in Primark owner ABF plunged over 10pc yesterday as it revealed that weakened sterling has gouged a £200m (€237m) deficit in its pension scheme. Like-for-like sales at the group’s retail chain are also likely to have fallen 2pc in the full financial year that ends this week. The pension deficit has manifested itself in […]

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Banks will set own targets to sort out loans under ECB plan

The high volume of cases and the slow pace of repossessions through the courts here are a challenge to efforts to resolve problem debt, according to a cross-country comparison of problem loans. It shows Irish banks continue to have some of the highest levels of problem debts in the euro area, despite more than €124bn […]

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