BUSINESS - BREAKING NEWS

Unions in Greece have announced plans for a general strike on Thursday in protest at further tax hikes and labour reforms demanded by the country's bailout creditors.

TODAY'S BUSINESS - IRISH EXAMINER

ESRI: EU tax plans will hamper Irish growth

Ireland’s growing labour force should help the country sustain a real economic growth rate of 3% over the next decade, a leading economic think-tank has forecast.

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Irish exports are getting close to crisis situation

The clearest indicator yet of what Brexit could mean to the Irish export sector was seen in the CSO’s recent trade figures.

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Kastus funding is a shot in the arm

An Irish firm whose product will be central in the fight against antibiotic-resistant superbugs last week received a €1.5m investment to underpin its plans for global expansion.

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Has Donald Trump just added to the Washington ‘swamp’?

Kyran Fitzgerald says that rather than drain the swamp as he promised in his election campaign, Donald Trump will actually bring more alligators with him next month.

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Small Business Column: Artificial intelligence and robotics in the workplace

In this week’s column Kehlan looks at the growing influence of artificial intelligence and robotics in the workplace and how nearly half of all human jobs could be obsolete within the next few decades.

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Custom House Capital director gets longest ever disqualification

The longest disqualification in the history of company law was handed down yesterday against a director of a collapsed investment firm found to have misappropriated €66.5m in client funds.

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AIB update boosts profile

The prospect of the Government selling 25% of its near total stake in AIB next year looks to have strengthened, with the bank yesterday noting continued trading momentum.

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Troika: Budget 2017 leaves Ireland vulnerable to shocks

The European Commission has said that by doing little to broaden the tax base in the October budget, the Government has left the country’s finances potentially exposed to future shocks.

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UK construction sees unexpected monthly boost

Growth in Britain’s construction industry unexpectedly touched an eight-month high in November, but its costs rocketed at the fastest pace since 2011, fuelled by sterling’s slump after the June vote to quit the EU, a survey showed yesterday.

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Mount Juliet Hotel backs return to profitability

The five-star Mount Juliet Hotel and golf resort anticipates a return to a modest level of profitability this year.

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Tax take rises as S&P backs recovery

The Government’s tax take for November was more than 2% or €177m ahead of target, largely driven by another strong month for corporation tax. It is the most important month of the year for tax receipts.

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Amryt Pharma lands €20m loan to fund skin disorder drug

Irish-listed speciality drug firm Amryt Pharma has agreed a €20m loan facility from the European Investment Bank, which will provide it with near- and mid-term funding requirements for its lead product, Episalvan.

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Ulster Bank details pain of tracker loan scandal

Ulster Bank has said it is hoping to reinstate as many customers as possible to tracker mortgages by Christmas or early in the New Year; as part of its ongoing mortgage redress programme.

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Jim Power: Housing policy based on shaky foundations

As we approach the end of 2016, it is clear that our weak and fractured Government faces immense challenges in 2017 and one would have to question its chances of survival. More pertinently, if it does actually survive, one would have to question if it actually has the strength and coherence to govern the country in a sensible and prudent manner. I fear not.

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Jobs cut as TV3 completes acquisition of rival UTV

Twenty-one jobs will be lost as TV3 completes the acquisition of fledgling broadcaster UTV Ireland and moves all production to its existing Ballymount base in south-west Dublin.

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‘Call of Duty’ firm Activision Blizzard profits fall

Pre-tax profits at the main Irish arm of global games giant, Activision Blizzard fell by 5% to €2.42m last year.

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Best month for Irish manufacturing since Brexit

Irish manufacturing delivered its best news yet since the UK voted to quit the EU, as output, new orders and new hirings quickened pace last month, according to the latest survey of purchasing managers. A survey of consumer sentiment, which was also released yesterday, was less upbeat, however.

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Pound jumps as UK eyes softer exit

Sterling jumped against the euro as investors seized on the prospect of the UK retaining preferential access to the EU’s single market after Brexit.

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BP in $9bn offshore ‘Mad Dog’ project

Oil major BP has approved a $9bn (€8.5bn) investment in its ‘Mad Dog’ project in the Gulf of Mexico, its first major new platform in the region since a 2010 explosion at its Macondo well led to the worst offshore disaster in US history.

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JD Wetherspoon Dublin plans face fresh hurdle

A resident has lodged an appeal against Dublin City Council’s approval for British pub chain JD Wetherspoon’s plan for a new superpub on Camden Street; telling Bord Pleanála permission would represent “an unwelcome milestone”.

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Kepak and Oliver Carty buy Greene Farm Foods

Food groups Kepak and Oliver Carty have formed a joint venture company to acquire a majority shareholding in Greene Farm Foods, in Ballygarvey, Rathowen, Co Westmeath.

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James Kennedy named HSI interim chief

James Kennedy is to take over as interim CEO of Horse Sport Ireland to allow current CEO Damian McDonald prepare for his new role as director general of the IFA.

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Italy’s Matteo Renzi hails growth before Sunday’s vote

Days before a referendum that could decide his political future, Prime Minister Matteo Renzi got the latest indications of Italy’s economic health.

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North’s businesses warn of huge Brexit threat

The economic transformation of Irish border communities brought by the peace process has been put at risk by Brexit, MPs have been told.

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Conrad Hotel taps boom to book profit of €2.28m

Pre-tax profits more than doubled at the five-star Conrad Hotel last year to €2.28m.

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RBS shares fall on stress test failure

Shares in Ulster Bank owner Royal Bank of Scotland (RBS) fell by nearly 5% yesterday after the group said it will need to cut costs and sell assets to bolster its balance sheet by around £2bn after failing UK bank stress tests.

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Britvic Ireland to dodge sugar tax hit

The head of Britvic’s Irish operations said the soft drinks manufacturer is unlikely to be negatively affected by the introduction of next year’s sugar tax.

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Oil prices gush as Opec kills off its pump-at-will policy

Opec clinched a deal to curtail oil supply, confounding sceptics as the need to clear a record global crude glut — and prove the group’s credibility — brought its first cuts in eight years.

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Philip Morris 'sees a future where it will no longer be selling cigarettes'

Philip Morris International, the world’s largest international tobacco company, has said it could eventually stub out cigarette sales as it launched an alternative product in the UK yesterday.

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Munster firms scale back near-term expectations

Munster-based companies scaled back their near-term expectations for business activity and their hiring plans, last month, albeit to a lesser extent than firms in other regions of the country, according to data from Bank of Ireland.

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