BUSINESS - BREAKING NEWS

Ministers will be handed controversial "Henry VIII" powers to change European Union laws as they are repatriated to Britain without full parliamentary scrutiny under plans for the so-called Great Repeal Bill.

TODAY'S BUSINESS - IRISH EXAMINER

Richie Boucher to leave Bank of Ireland

Richie Boucher yesterday announced plans to step down from the top job at Bank of Ireland which he has held since the height of the banking crisis, indicating the lender was all but restored to full financial health. A search for his replacement has already begun.

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Eurozone pickup calms French election jitters

The eurozone’s accelerating economy is translating into faster job creation and stronger inflation pressures as a key gauge of activity yesterday rose to a near six-year high in March, and employment increased the most since July 2007, with hiring picking up in services and manufacturing. 

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Central Bank to reveal homes lost in tracker scandal

The Central Bank will likely verify how many people lost their homes as a result of the tracker mortgage when it issues its final report, as it emerged that the number of affected customers has now reached almost 10,000.

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Warning of row over UK’s Brexit divorce bill

The dispute over the size of the bill Britain will have to pay Brussels as part of its EU divorce bill could blow up at a very early stage, one of the country’s leading Brexit experts has predicted.

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Teva Pharma plan risks 38 jobs but other plants safe

Teva Pharmaceuticals — the generics drug giant and maker of Sudocrem — will close one of two laboratories in Dundalk but major manufacturing plants in Waterford and at Baldoyle in Dublin appear safe amid a worldwide cost-cutting review.

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Regions cannot be left behind in drive for growth

In last year’s general election much was made of the disparities in regional economic activity, writes Jim Power.

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Green light for Dromoland Castle upgrade

An Bord Pleanála has given the green light for a piece of the €16m upgrade of the five-star Dromoland Castle in Co Clare.

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Call for oil and gas tax terms to be reviewed

The main representative body for Irish exploration firms has suggested the Government should review its fiscal and taxation terms for oil and gas finds within the next 12 months.

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Fears for London tourism following Westminster terror attack

Merlin Entertainments shares weakened and G4S rose as investors weigh a possible softening in London tourism and a likely increase in demand for private security after the Westminster terror attack.

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Next caution underlines UK consumer pressures

A better-than-expected increase in UK retail sales for February has not altered concern that British consumer spending is on an alarming downward trajectory and that domestic demand — a major driver of the UK economy since last year’s Brexit vote — is faltering.

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Economy may ‘overheat’ as unemployment falls

Efforts to boost house building could end up in a bloated construction industry and the economy ultimately overheating if the Government were to fail to rein in spending, the Economic and Social Research Institute has warned.

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Alternative finance for SMEs is even more urgent

As British prime minister Theresa May prepares to trigger Article 50, which marks the formal start of the Brexit talks process, the subject of funding for small businesses here will be even higher on the agenda.

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New housing plan urged

An economic think-tank has urged the Government to ditch its ‘Rebuilding Ireland’ plan in favour of a new housing model centred on a commercial semi-state utility system.

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Passengers could lose out in Brexit aviation tussle

A leading aviation analyst has warned passengers could be the biggest casualty after the EU ordered UK-based airlines to relocate to EU countries or sell shares to EU nationals to avoid losing major routes.

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Happy Pear help boost Dubray book sales in 2016

Family-owned bookseller Dubray Books last year posted its “best trading performance since the recession” as it recorded profits of €495,589.

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EU Brexit chief eyes 2019 agreement

The EU is determined to sign a Brexit deal by 2019, but has warned the UK it won’t get everything it wants.

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Clerys workers secure settlement

Former Clerys workers have said a “goodwill payment” by investors who bought the store will be like Christmas for employees who lost their jobs.

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Mincon primes itself for renewed acquisitions drive

Shannon-based engineering services firm Mincon is still actively looking for acquisitions, saying it can act without upping its debt levels.

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Plea to save job creation scheme

Job creation body Connect Ireland has pleaded for the Government to extend its contract for attracting small business to Ireland after the IDA elected not to renew the scheme.

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RGDATA slows down Aldi and Lidl expansion plans

The Retail Grocery Dairy and Allied Trades Association (RGDATA) has temporarily put the brakes on German discounters Aldi and Lidl further expanding in Ireland.

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Allsop accumulates profit of over €1m on auctions

Accumulated profits at the firm that revolutionised the property auction market with their monster quarterly auctions jumped to €1.08m.

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Credit unions ‘may not survive’ tough rules

Unless credit unions are permitted to broaden their business and current regulations are relaxed, they will not survive.

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INM chief used whistleblowing legislation

Independent News & Media (INM) chief Robert Pitt used whistleblowing legislation to complain around the time a dispute raged inside the media firm over the potential acquisition of Newstalk, it has emerged.

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BMW may reverse Mini out of UK following Brexit

BMW hinted it may shift production of the quintessentially English Mini car to mainland Europe, a harbinger of the cultural tremors that may follow Brexit’s economic fallout.

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EU to calm Brexit rivalry

The EU wants to avoid Brexit turf wars by extending its oversight of financial services.

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Petrol and diesel rise to highest for 18 months

Fuel is costing Irish motorists more than it has in 18 months even as crude oil prices continue to fall.

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