BUSINESS - BREAKING NEWS

Airbus has acquired a majority stake in Bombardier's C Series aircraft programme, the companies have announced.

TODAY'S BUSINESS - IRISH EXAMINER

Bombardier may sell assets amid C Series crisis

Bombardier is seeking investors for its aerospace businesses and considering a sale of some operations, according to sources, as a turnaround plan at the Canadian aircraft-maker faces pressure from potentially crippling US tariffs on its marquee jetliner.

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Peugeot to cut 400 jobs in UK

PSA Group, the French carmaker which owns the Peugeot, Citroen, Vauxhall, and Opel brands, plans to cut 400 jobs at a UK plant in Ellesmere Port to adapt production to falling sales.

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Irish Odeon cinemas firm makes profit of €1.2m

Sales at the Irish arm of the Odeon cinema chain fell last year, despite movie draws that included Bridget Jones’s Baby, Finding Dory, and The Secret Life of Pets.

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Brexit no deal ‘would hit sterling’

The EU is likely to confirm this week that Brexit talks have not made sufficient progress to move onto discussions about a future trading relationship, though the UK will be hoping it will consider a two-year transition period.

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Imports dent eurozone trade surplus

The eurozone’s trade surplus shrank in August as the stronger euro fuelled an import boom that was only partly offset by a rise in exports, official estimates showed yesterday.

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Vets highlight benefits of risk assessments

Only 25% of sheep farmers are meeting their lamb survival targets, according to a study of 100 sheep farmers in Co Galway.

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China offers to buy 5% stake in Saudi oil giant

China is offering to buy up to 5% of Saudi Aramco directly, in a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world’s biggest oil producer on the stock market.

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Housing supply problem could be fixed by 2019

After slowing to 5.5% in June 2016, annual house price inflation has been on a strong upward trend since then.

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Employers are sitting ducks when it comes to PRSI

Funding for education budget documents contain more than their fair share of fine print. Buried deep in the announcements last week was the detail of a 0.1 percentage point change in employers PRSI contributions.

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Training the long-term unemployed taking centre stage

With a shortage of key skills threatening to derail plans to ramp up Ireland’s housing output, initiatives to tackle long-term unemployment are taking centre stage, writes Kyran Fitzgerald

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Room swap a novel solution to ease rental crisis

An Irish room swap startup offers a novel solution to student bed shortages, writes Ruth Doris

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The Monday Interview: Karl O'Connor, owner, The Nightmare Realm

Thousands will pay to be terrified over the coming weeks in Cork and Dublin when they enter the Nightmare Realm, a smash hit that had a scary business start. Pádraig Hoare speaks to owner Karl O’Connor

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Brexit ‘gamechanger’ on nuclear plan

Of all the international regulatory challenges created by the UK’s impending departure from the EU, the atomic-energy industry may best encapsulate the decision’s bottom-line effect: More bureaucracy and costs for a country that has long fought to curb both within the EU.

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EU Vat reforms will harm all exporting firms

In a move to modernise the cross-border regime for collecting sales taxes, the European Commission has proposed extensive reform of the sales tax Vat system, which could have an unintended consequence for Ireland’s export industry.

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ECB confident amid ‘robust’ growth

With the ECB’s next policy update less than two weeks away, the institution’s top officials are expressing confidence that they will eventually succeed in returning inflation to their goal.

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Profits soar at Ringaskiddy incinerator bidder

The Belgian company seeking planning permission for a new €173m incinerator at Ringaskiddy in Co Cork last year increased its pre-tax profits by 10% to €11m.

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Green light for Denis O’Brien development

An Bord Pleanála has given the green light to a Denis O’Brien-backed company to construct a €50m luxury apartment complex in Donnybrook, Dublin 4 — in spite of strong opposition from local residents.

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Volatile sterling swings on Brexit talks fears

Sterling swung between gains and losses yesterday, whipsawed by headlines surrounding the status of the UK’s eventual exit from the EU.

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IAG’s Willie Walsh eyes slots of failed Monarch airline

IAG — the owner of Aer Lingus, British Airways, and Iberia — is interested in the London Gatwick slots of failed airline Monarch after it collapsed last week, IAG chief executive Willie Walsh said, adding that the reduction of capacity was good for the industry.

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New mortgage lending ‘to rise to €10bn’ next year

New mortgage lending will rise to €10bn next year but the loans market will remain constrained because too few new homes are coming on stream, a leading mortgage expert has said.

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Jim Power: The best way to eat an elephant is in small pieces

There is an old Chinese proverb to the effect that the best way to eat an elephant is in small pieces. This analogy should equally be applied to budgetary policy, writes Jim Power

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Travel arm drives WH Smith profits

British books and stationery retailer WH Smith has reported a 6.9% rise in annual pre-tax profits — to £140m (€157m) — with growth led by outlets at airports and other travel sites.

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CEO Robert Pitt leaves INM after year-long dispute at media firm

Robert Pitt has resigned as chief executive of Independent News and Media (INM) following an extraordinary row that had waged in the media company for over a year.

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Central Bank dials down overheating threat

A few parts of the economy exposed to the international economy are back at boom-time levels but many other areas are not overheating despite rapid economic growth, according to the latest economic outlook from the Central Bank.

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Hiring cut back due to Brexit

International companies are cutting back on hiring and senior staff are reluctant to switch jobs because of uncertainty over Brexit, said British recruitment firm PageGroup.

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Driverless cars spark fuel economy headache

Judging from General Motors’ test cars and Elon Musk’s predictions, the world is headed toward a future that’s both driverless and all-electric. In reality, autonomy and battery power could end up being at odds.

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Longer hours ‘depress wages’

More slack in the labour force as people put in longer hours may be a factor in depressing wages, new research claims. Central Bank researchers set out to understand why wages have risen slowly despite the rapid unemployment drop.

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Irish sports firm hopes to tap World Cup

Support in Sport, the Irish firm that provides sports pitches around the world, hopes to benefit from the World Cup finals next year.

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Doubts surface over €300m SME loan scheme

The Government has said it will provide further details of its €300m Brexit loan scheme for SMEs in the coming weeks amid mounting uncertainty among industry groups.

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Kerry Group shares slip despite strong growth guidance

Kerry Group shares dipped marginally and Merrion Stockbrokers reiterated its ‘hold’ recommendation on the stock, yesterday, despite the Tralee-based food giant announcing a US acquisition and a strong organic growth outlook for the next five years.

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