BUSINESS - BREAKING NEWS

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TODAY'S BUSINESS - IRISH EXAMINER

Sterling falls after May’s Brexit speech disappoints

Sterling fell while other markets were unperturbed after British Prime Minister Theresa May, in a key-note speech, outlined the UK’s plans to add new life to the Brexit talks by committing to stay and pay its way in the EU for a transitional period of two years.

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Youth unemployment still too high: Draghi

The head of the ECB has said youth unemployment across Europe remains far too high despite the marked economic recovery from the depths of the financial crisis.

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DHL fights driver ruling

Logistics company DHL has launched a legal challenge against a Labour Court ruling that it must pay one of its former drivers over €72,000 for unfairly dismissing him from his job.

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IBI adviser completes buyout from BoI

The well-known adviser on corporate dealmaking, IBI Corporate Finance has confirmed its top managers have completed a buyout from Bank of Ireland. 

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Shannon workers in €240,000 payout

Thirty-two Shannon Airport based DAA workers are in line to share a €240,000 payout for moving to a new workplace just over 30km from where they work.

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Profits at Dublin’s Conrad Hotel fall 22% to €1.78m

Pre-tax profits at the company that operates the five-star Conrad Hotel in Dublin fell by 22% to €1.78m last year.

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L’Oreal shares climb on talk that Nestle stake is in play

Shares in beauty group L’Oreal surged the most in seven years on speculation that the death of the founding family’s matriarch, Liliane Bettencourt, could clear up the cosmetics maker’s ownership through a takeover or a buyback.

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Trump in new sanctions on trade with North Korea

President Donald Trump has ordered new sanctions on individuals, companies, and banks doing business with North Korea as the US increases pressure on Pyongyang for its weapons programmes.

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EU tax plan for online giants

The European Commission said it may seek to implement tax reform to raise more revenue from online giants without the backing of the US and other rich nations, in a move that could spark a new transatlantic dispute.

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Key agri-food industry has to plan for uncertain times

After the 2008 economic crash, the vulnerabilities of construction, financial services, and foreign direct investment highlighted the importance of agriculture to the economy.

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Google snares HTC talent

Google has agreed to buy part of HTC’s engineering and design teams for $1.1 billion (€923m), taking on a cadre of veterans that worked on the Pixel phone and could bolster its nascent hardware business.

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Share boost for CRH following $3.5bn US deal

Shares in CRH rose 3% after the building-materials giant announced it was to buy a leading US cement manufacturer for $3.5bn (€2.93bn).

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Dermot Bannon architectural firm returns to profit

The architectural firm owned by the country’s best-known architect, TV’s Dermot Bannon returned to profit last year.

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Ryanair shares steady after turbulence caused by fiasco of holiday roster for pilots

Investors will scrutinise the Ryanair share price over the coming weeks for evidence that the rostering fiasco is not a sign of a deeper malaise.

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Florida storm crops miss out

Government-backed insurance plans in the US help compensate farmers for losses after natural disasters. Unfortunately for the produce growers who were ravaged by recent hurricanes, a lot of the nation’s vegetable and fruit crops aren’t covered.

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Staff shortages and Brexit threaten hotels boom

International tourists brought in just under €6.5bn last year, up 8.5% from 2015 but a shortage of qualified staff could stall the momentum of the hotel industry, an AIB report has suggested.

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Expert: ‘Hybrid before electric’

Ireland has a long way to go before electric cars become a viable alternative — and the Government should prioritise the promotion of electric-hybrid alternatives, says a motoring expert.

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PJ Carroll profits hit by black market

The profits of cigarette firm, PJ Carroll, have been hit by the black market, it said.

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Tax incentives call for top IT talent

Tax for employees of IT start-ups should be considered in the budget to assist entrepreneurs retain the best talent, according to a venture capital group.

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Diageo sees brighter outlook after India liquor ban

Diageo, the maker of Johnnie Walker whisky and Smirnoff vodka, forecast stronger sales and profit growth in the second half of its financial year after a first half affected by negative factors in China and India and higher spending.

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Sterling gains ease some pressure on exporters

Sterling strengthened against both the euro and the dollar after UK retail sales rose more than forecast in August, boosting investor expectations that the Bank of England will raise borrowing costs in the coming months.

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Margins at Zara fashion owner, Inditex, hit by euro

Inditex, the world’s biggest clothes retailer and owner of Zara, reported a 9% rise in first-half profit, but its gross margin, as a percentage of sales, slipped, because of a stronger euro.

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Irish exporters tied to UK trade ‘need Brexit help’

More than nine in 10 Irish exporters trade with the UK and need some sort of help in the budget next month to cushion the effects of Brexit, according to the Irish Exporters’ Association.

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Global dairy prices set to rise in months ahead

Dairy market analysts are predicting a recovery as the latest Global Dairy Trade Price Index climbed 0.9%, the second successive auction to record a price rise.

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O’Leary will be judged on his handling of the crisis

Only time will tell if Ryanair gets over this current major dilemma, but its handling of the crisis may well be the defining moment for both Michael O’Leary and for Ryanair.

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Uber reviews its Asia operations

Uber Technologies, which is the subject of a US federal probe into whether it broke bribery laws, has started a review of its Asia operations and notified US authorities about payments made by staff to police officers in Indonesia, a person familiar with the matter told Reuters.

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Profits up 50% at Hayfield hotels firm

Pre-tax profits at the Kerry-based hotel group that operates the five-star Hayfield Manor in Cork city and the four-star Killarney Royal hotel climbed by over 50% to €5.43m last year.

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Boom in UK illegal TV streams

More than a million illegal TV set-top boxes which allow consumers to stream content illegally have been sold in the UK in the last two years, investigators have warned.

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Parties appeal court orders

Parties in a row between Deutsche Bank and a group of seven Galway firms, involving business debts just short of €700m, have appealed and cross-appealed High Court orders on the future of the companies.

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French Connection profits cut after store closures

British fashion retailer French Connection Group reported a drop in profit for the half-year due to the closure of some of its stores.

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