BUSINESS - BREAKING NEWS

A bad day for bank stocks pulled the Dow Jones industrial average to its third straight loss on Tuesday as many of the patterns that have propelled markets since election day last year snapped into reverse.

TODAY'S BUSINESS - IRISH EXAMINER

Trump will boost growth, says aide

US president-elect Donald Trump’s administration will push through infrastructure spending, a tax overhaul, and cuts in regulation to spread economic growth beyond a concentrated faction of “global elites”, said one of his economic policy advisers.

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‘No one a winner’ in a trade war, says Chinese president Xi Jinping

Chinese president Xi Jinping offered a vigorous defence of free trade yesterday at the World Economic Forum in Davos in a speech that underscored Beijing’s desire to play a greater global role as the US turns inward.

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Exporters hit as business flays UK’s Brexit plan

Irish-owned firms which employ large numbers of people are being hit by the slump in sterling, the latest trade figures suggest.

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British American Tobacco clinches $49bn deal for Camel’s maker firm

British American Tobacco reached agreement to buy full control of Reynolds American with a sweetened $49.4bn (€46.3bn) offer, bringing a successful end to almost three months of bartering with the maker of Camel cigarettes.

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Renault gains on VW as European car sales surge

European car sales rose to a nine-year high in 2016, with French company Renault taking advantage of recovering demand and Volkswagen’s tarnished reputation to leap to second place from third in th e region.

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Tullow Oil shares little changed as ‘exciting’ Kenyan discovery unveiled

Shares in Tullow Oil remained largely unchanged yesterday as the company announced what it described as an “exciting discovery” in Kenya.

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Comment: Banks in no rush for break

Davos may be cold, but it looks like a more comfortable home for bankers than London.

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To fix health, we have to treat it as a growth industry

The ageing of the population in Ireland and other parts of the western world is being brought in to sharp relief by the health crises unfolding within both the UK’s National Health Service (NHS) and the Irish Health Service Executive (HSE).

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Global investors upbeat but Irish bosses are worried

Global investors are upbeat, if cautious, about 2017 but Irish business confidence is at its second lowest since 2012, separate surveys have found.

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Rolls Royce shares up 7% as probe settled

Shares in Rolls-Royce jumped up to 7% yesterday after the British maker of engines for planes and ships settled a long-running bribery probe and said that 2016 profit would beat expectations.

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Dubai home prices ‘to fall’

Dubai home prices are set for another year of decline with supply outstripping demand even as developers delay the completion of properties, according to real estate adviser CBRE.

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Gas and electricity prices to rise ‘only slightly’

All-Ireland electricity prices will likely rise only slightly this year, after falling sharply in 2016, a supplier to the Irish market has predicted.

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French firm Essilor to buy Ray-Ban manufacturer Luxottica for €22.8bn

French lensmaker Essilor has agreed to buy Luxottica, the maker of Ray-Ban sunglasses, for about €22.8bn in shares, combining the largest manufacturer and retailer in eyewear.

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Hard Brexit to ratchet up ‘stress’ for Irish firms

The renewed slump in sterling is hurting key Irish businesses hard as the turmoil caused by the uncertainty of the UK’s new relationship with Europe will persist for a long time, analysts here have warned.

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Growth prospects rise but warning lights flash red

All the signs are that the global economy is entering 2017 with increasing momentum, with numerous indicators pointing to a strengthening of activity in key economies.

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Shares in Hugo Boss rise on sales update as H&M fall

German fashion house Hugo Boss’ 2016 operating profit will be bigger than feared following a fourth-quarter sales recovery in China and Britain which upped their value as much as 10%.

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CEOs upbeat about their companies’ growth prospects, survey finds

Global corporate leaders are worried about international developments such as Brexit and the Trump presidency, but are upbeat for their own businesses, according to a survey released at the Davos summit.

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Malin shares rise as it buys stake in UK drugs firm

Shares in Irish life sciences and biotech investment firm, Malin Corporation, rose 4% as it bought a 33% stake in UK company, Wren Therapeutics, which is focused on drugs used to fight Alzheimer’s and Parkinson’s Disease.

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SuperValu takes top Christmas spot above Dunnes Stores

SuperValu has come out on top of the Christmas supermarket shopping league in the Republic, edging out rival Dunnes Stores.

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Fast food giant McDonald's aims new salvo at Supermac’s

Fast food giant McDonald’s has hit back in the brand war with Supermac’s accusing the Irish firm of wanting to take unfair advantage of its own worldwide brand.

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IMF sees US growing faster on Trump expansion plan

The IMF said the US economy would grow faster than previously expected in 2017 and 2018 based on the incoming Trump administration’s tax and spending plans.

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Solicitor pursued over €4.7m sum

AIB is pursuing Dublin solicitor, Barry Lyons, for a €4.7m judgment over alleged unpaid loans.

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Revenue should treat taxpayers equally

A book about two Israeli psychologists is an unlikely candidate to be on the bestsellers lists.

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The world’s elite need to listen before it’s too late

The global business elite, each coughing up over €20,000 each, are gathering for their annual shindig at the up-market Swiss resort of Davos.

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Lily drone is a lesson for all start-ups

In a follow on from last Monday’s article, Kehlan Kirwan looks at the precarious nature of startups and why an announcement from the District Attorney’s office in San Francisco could set a very unwanted precedent for start-ups everywhere.

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Oil prices to be more volatile in 2017

Global oil prices will witness “much more volatility” in 2017, even though markets may rebalance in the first half of the year, if output cuts pledged by producers are implemented, the head of the International Energy Agency (IEA) has said.

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Cork Company of the Year Awards: Red FM celebrating 15 years as community partner

It’s hard to imagine a time in Cork when Red FM wasn’t broadcasting over the airwaves.

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Cork Company of the Year Awards: The rise and rise of Spearline Labs is one of Cork’s great stories

It has been such a glorious rise for Skibbereen, Co Cork-based Spearline Labs in the past few years that one wonders if it will actually one day be too big for the Small and Medium Enterprise category of Cork Chamber’s Company of the Year Awards.

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Cork Company of the Year Awards: IITC, approaching 100 years in Cork, plans more for customers

It has been one of Cork’s most enduring businesses for nearly a century and with its sterling reputation, who is to say Irish International Trading Corporation won’t be around for another 100 years?

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