News

Providence Resources will be able to push ahead with development of its Druid off-shore oil prospect without seeking a new backer, using proceeds of a new capital raise. The Irish oil and gas company announced last night that it is set to raise $73.4m (€65m) through a sale of shares to new and existing investors. […]

Irish companies with big business interests were among the big gainers yesterday as markets soared on renewed speculation Britain will vote to remain in the European Union this Thursday. Global markets experienced a so-called relief rally, lifting currency markets and European shares, and sending so-called safe haven assets lower. Opinion polls over the weekend appear […]

The Government will have around €1bn for extra spending and tax cuts for October’s Budget. This is according to the Department of Finance’s published updated forecasts this afternoon, known as the Summer Economic Statement. The amount of spending leeway for the next five years is estimated at €11.3bn. This is the amount that remains after […]

Hacketts bookmakers has been placed in liquidation after over 50 years in business. The company said it it had found it difficult to keep pace with larger competitors in recent years as the migration to online betting has intensified. The company had tried to restructure the business by selling a number of its stores to […]

Microsoft has become the latest US multinational to have its tax affairs put under the spotlight, as it reportedly managed to avoid £100m (€127m) a year by booking sales through Ireland. The Washington State-based company, founded by Bill Gates, has allegedly sent more than £8bn of revenues from computers and software that were bought by […]

The first update to guidelines on personal-injury awards in more than a decade is to recommend higher, not lower, payouts. This has raised fears of yet more hikes in motor insurance costs, which have spiralled by more than a third in the past year alone. The guidelines are set to see a 10pc rise in […]

Next week marks the fifth anniversary of an event that has already proved to be an inflection point not only in the history of these islands, but in that of our entire continent. The Great Disintegration that has taken place over the past five years is gathering pace. Its most obvious and painful manifestation for […]

A new €60m fund, established by one of Europe’s top performing tech funds, will look to invest in early stage companies with global potential that are built from research at all of Ireland’s third-level institutions. Atlantic Bridge, the firm behind the new fund, will look to accelerate the commercialisation of research conducted at Irish colleges. […]

The Irish Government needs to be clear and bloody minded on this – if Britain votes to leave the EU, we’ll back their continued access to the single market to the hilt. Yesterday, Michael Noonan was right to break ranks with his long-time German colleague, Wolfgang Schauble, at a meeting of Euro area ministers in […]

Blackstone has completed a deal to take over the Blanchardstown Centre in one of the biggest property deals in the history of the state. The US private equity giant is believed to have paid Green Property at €950m for the centre. The deal is expected to close this summer pending relevant regulatory approvals. In a […]