BUSINESS - BREAKING NEWS

US stock indexes nudged higher today after energy companies clawed back some of their sharp losses from earlier in the week.

TODAY'S BUSINESS - IRISH EXAMINER

Dungarvan, global home of Panadol, gets €8m investment

Global healthcare giant GSK has opened an €8m biomass energy facility in Dungarvan, Co Waterford, that will reduce its carbon emissions by a third.

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AIB flotation could net €3.4bn for State

The flotation of AIB has proved to be more lucrative for the Government than had been thought earlier in the week, with shares rising up to 7% as an almost 29% stake of the bank was floated at €4.40 per share.

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Cork company partners to connect rural counties

A Cork IT company has come to the rescue of 3,000 homes in rural counties by providing high-speed broadband, as the Government comes under fire from opposition politicians for failing to connect the regions with its broadband policy.

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New tourism minister comes at ‘pivotal’ time

The new tourism minister faces a baptism of fire and must recognise the urgency of the problems being caused by Brexit, according to industry organisations.

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AIB IPO to raise €3.05bn

The State is set to recoup around €3.05bn when 25% of its near total ownership of AIB is sold off to stock market investors early next week. It is marginally more than was initially targeted.

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Perjury law could end ‘lies for cash’

A new perjury law is required to end the cultural tolerance among the judiciary and some sections of society for telling lies for cash, according to the Irish Small and Medium Enterprises Association (Isme).

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AIB IPO to raise €3.05bn

The State is set to recoup around €3.05bn when 25% of its near total ownership of AIB is sold off to stock market investors early next week. It is marginally more than was initially targeted.

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ECB upbeat on growth prospects

Economic data points to solid growth in the eurozone in the second quarter of the year and indicates a rebound in global growth after a rough patch, the European Central Bank (ECB) said in a regular economic bulletin published yesterday.

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Fifth of firms hit by online ransom demands

A fifth of Irish businesses have been the target of online ransom demands in the past year while more than half of top IT professionals don’t believe their firms understand their own security systems, according to a survey by a leading cybersecurity firm.

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Oil prices show marginal recovery from 10-month lows

Oil prices rose yesterday, a day after sliding to 10-month lows, but market sentiment remained negative due to ongoing pressure from a persistent supply glut despite OPEC-led efforts to balance the market.

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Qatar Airways targets 10% stake in American Airlines

American Airlines has said that Qatar Airways, the Gulf country’s state-owned airline, has expressed interest in buying as much as a 10% stake, worth at least €724m ($808m), in the US airline.

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Philip Hammond: Brexit uncertainty stalling corporate investment

Large amounts of business investment is being postponed because of uncertainty over the outcome of Brexit negotiations so Britain should seek clarity as early as possible over a transition arrangement, according to chancellor Philip Hammond.

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Royal Bank of Scotland in investor dispute offer

Royal Bank of Scotland pursued last-minute settlement talks with a group of investors to avoid a potentially embarrassing trial over allegations the lender misled them about a 2008 capital increase.

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EU data regulation ‘an opportunity’

Companies should embrace the changes coming with the implementation of the General Data Protection Regulation (GDPR) rather than fear them, a report by insurance broker and risk management firm Marsh UK & Ireland suggests.

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CRH: Construction sector needs to evolve

Construction needs to evolve as a matter of urgency if it is to meet modern infrastructure needs, global building materials giant CRH has said.

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Freshly Chopped eyeing further Cork expansion

One of the country’s fastest growing food chains has officially opened in Cork, with an eye on more expansion in the city before the end of the year.

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ESRI urges ‘cautious’ strategy for Budget 2018

The Economic and Social Research Institute (ESRI) has left its forecasts for Irish economic growth unchanged – at 3.8% for this year and 3.6% for 2018 – but has urged new Finance Minister Paschal Donohoe to adopt a more “cautious” stance than previously envisaged in October’s budget.

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Trump’s net worth falls $100m as asset value dips

Donald Trump’s net worth has fallen by $100m (€90m), to $2.9bn, as his office properties aren’t bringing in as much cash as banks that loaned him money had expected.

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Tesco job cuts won’t hit Ireland

Tesco’s Irish operations — which employ more than 13,000 people — will not be affected by the British supermarket giant’s latest cost-cutting round.

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Cork could benefit from worldwide pilot shortage

Cork could become a major centre for the development of pilots as a global dearth in filling the roles grows over the next decade.

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Saudi oil giant invests in UCD firm

Saudi oil major Aramco has invested in former UCD campus company OxyMem, adding further to the Irish company’s growing shareholder base.

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ESRI: Ireland needs to ‘diversify’ its gas supply

Ireland needs to look at ways of diversifying its gas supply in a post-Brexit world, the Economic and Social Research Institute (ESRI) said.

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Center Parcs in €3m gas deal in Longford

Natural gas is to be piped into Longford for the first time following the signing of a €3m deal with holiday village operators Center Parcs.

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AIB shares to launch at revised range of €4.20-€4.60

The price range within which the Government’s AIB shares will begin trading has been revised days before conditional trading of the bank’s stock is set to begin.

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CCPC: Increase mortgage market competition

Increasing competition for consumers and the adoption of the so-called “Danish model” would improve the current “dysfunctional” mortgage market which has an unhealthy level of mistrust between customers and lenders, the chair of the Competition and Consumer Protection Commission (CCPC) has said.

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Oil prices begin to rally

Oil prices steadied yesterday, pausing for breath after coming under pressure over the past month from rising production in the US, Libya and Nigeria, which has taken the edge off an Opec-led initiative to support the market by cutting production.

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European Central Bank rates to stay low for a long time

There was considerable interest in the ECB Council meeting earlier this month to see the impact on its policy stance of a marked pick-up in the pace of growth in the eurozone.

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Denmark’s Casper Klynge becomes the first 'techplomacy' ambassador in California

The top firms in California’s Silicon Valley carry more weight on the global stage than many countries, which makes building diplomatic relations with them increasingly important, the world’s first national technology ambassador has said.

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French president Emmanuel Macron spurs market upward bounce

French stocks outperformed upbeat European indices following a convincing parliamentary majority for President Emmanuel Macron, while the banks bounced following upgrades and the country’s retail sector recovered from last week’s losses.

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Greencoat and SEP to invest in Irish wind energy market

Energy infrastructure company Greencoat Renewables is aiming to raise up to €250m from a dual stock market listing in London and Dublin in order to fund its growth objectives.

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