News

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 […]

The main Irish arm of breakfast cereal giant Kellogg last year paid zero corporation tax for the second year running as revenues topped €1.28bn. New accounts filed by Kellogg European Trading (KET) Ltd with the Companies Office show that it recorded a 27pc jump in operating profits, from €38.7m to €49.36m, in the 12 months […]

Law firm Eversheds has appointed former Central Bank official Ciaran Walker as a consultant. Mr Walker was deputy head of enforcement at the Central Bank of Ireland until September. He’s now joined Eversheds Consulting, a part of the solicitors’ firm that uses consultants, lawyers, audit and risk specialists to provide tailored consulting services to clients. […]

The weak sterling is playing havoc with Ryanair’s earnings as the airline has predicted its average fares to fall by between 13pc and 15pc. The Irish aviation giant has reduced its full-year profit estimate by 5pc to between €1.3bn and €1.35bn, meaning profits are set to grow by 7pc from 2015. Average fares were originally […]