BUSINESS - BREAKING NEWS

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TODAY'S BUSINESS - IRISH EXAMINER

Record number of new London homes are unsold

The number of unsold London homes under construction rose to a record high in the first quarter as higher taxes, affordability issues and economic uncertainty damp demand for the most expensive properties.

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Tech firm ordered to pay ex-director €105k

A US cyber security firm has been ordered to pay a former senior director of its Cork operations €105,000 for his unfair dismissal.

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Irish oil exploration activity set to increase

Exploration-related activity in Irish waters is set to heat up further in the coming months with a new multi-client 3D seismic survey to be undertaken off the west coast.

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Nestlé plans to cut 300 jobs at four plants in Britain

Nestlé plans to cut almost 300 jobs in Britain as it simplifies its operations and moves production of Blue Riband biscuits to Poland, becoming the latest food and drink maker to reduce its UK operations as the country prepares to leave the EU.

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Eli Lilly drug sales fall short

Eli Lilly’s promising diabetes drug Jardiance fell short last quarter, a sign of the major challenges ahead for its new chief executive officer after recent setbacks on other potential new treatments.

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AIB fined €2.2m for money laundering failures

AIB has been fined €2.275m for antimoney laundering and terrorist financing compliance failures by the Central Bank after admitting six breaches of the Criminal Justice Act.

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Kennedy Wilson shares rise on deal talk

Shares in Kennedy Wilson Europe have surged after its sister US fund said it plans to acquire the firm in an all-shares deal.

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‘Rental protection’ possible, says insurer

Life assurance and illness cover can be a form of “mortgage protection for renters” in Ireland, a leading insurance company says.

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Cybersecurity expert: One year to comply with EU data law

Irish companies have been warned that they face major financial penalties unless they take action now to shore up data protection.

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French poll ‘relief rally’ aids AIB sale

The “relief rally” by markets on the outcome of the first round of the French presidential elections makes it likely that the Government will get its planned sale of AIB shares away by early summer, a leading analyst has said.

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Planning green light for 90 units in €50m project in Dublin

Dublin City Council has given a company backed by Denis O’Brien the go-ahead for a €50m luxury apartment plan in Donnybrook despite concerns from D4 residents.

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CRH tipped for another big purchase next year

CRH is expected to make another large-scale acquisition some time next year as its cash generation improves and debt levels continue to decline.

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IBM shareholders asked to sign off on CEO’s $33m pay package

When IBM shareholders gather today, they’ll be asked to sign off on a $33 million (€30.4m) pay package for chief executive officer Ginni Rometty.

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John Fahey: Global growth has regained some momentum lost in 2008/09 crisis

The performance of the global economy has tended to disappoint versus expectations in recent years, struggling for sustained upward momentum.

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United Drug in €40m spend pledge

Drug delivery company United Drug is to invest €40m in upgrading its Dublin headquarters in a move which will significantly expand its capacity in the coming years.

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Credit unions in new mortgage push

Credit unions have moved a step closer to adding mortgage lending to their suite of services.

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Taking the toil out of data input for book-keeping

Trish Dromey talks to a Dublin-based fintech firm that is taking the drudgery out of book-keeping.

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Still not yet springtime for Ireland’s small businesses

Mel Brooks sang a wonderful ditty in his 1983 comedy To Be or Not to Be. In full Hitler garb, he looks sincerely into the camera and says “All I want is peace. Peace. Peace!’ Then comes the punchline: ‘A little piece of Poland, a little piece of France, A little piece of Portugal and Austria perchance...”

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‘Gig economy’ may damage workforce

Easter week is traditionally teachers’ unions conference time. It’s somewhat unusual that the various trade union groups representing a particular profession would have a particular focus season, largely driven by the school calendar. 

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Switching to new export markets won’t be that easy following Brexit

The global economy has started to gain traction, at last. Global economic growth has been unbalanced since the financial crisis, but for the first time in several years all regions of the world economy should experience a synchronised upturn in 2017, according to the World Trade Organisation (WTO) in its latest release.

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Republic of Work is uncorking workers’ potential

He may be one of the most celebrated faces of Cork’s burgeoning IT industry but the architectural passion pumping the blood of Cork entrepreneur DC Cahalane is never far from the surface.

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British pub chain JD Wetherspoon gets Dublin nod

British pub chain JD Wetherspoon has been granted approval by Bord Pleanála to proceed with its plans for a €4m pub and hotel development on Dublin’s Camden Street.

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Rennicks sale to see loss of 13 jobs

Thirteen jobs are to go in Dublin as result of traffic group Rennicks deciding to sell its road-sign manufacturing division to a UK firm.

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Executive pay levels raised 7.2% at Total Produce

Executive pay levels at Total Produce rose by over 7% last year, the Irish fruit distributor’s latest annual report shows.

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‘Pent-up demand’ for credit union mortgages

A report by a leading academic has called for lending restrictions on credit unions to be eased in order to provide consumers with more mortgage options — for which there is “pent-up demand”, according to one of the sector’s biggest bodies.

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Spanish brewer to buy 32% of O’Hara’s craft beer business

Spanish premium beer producer Hijos de Rivera is to take a significant shareholding in the Carlow Brewing Company, the company behind O’Hara’s craft beer range.

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Drivers angered at price of insurance cover

More than 11,500 complaints were made to motor insurers in the second half of 2016, according to the latest Central Bank consumer protection bulletin. More than half of the complaints related to pricing.

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Profits boost for Charlie Chawke’s pubs

Three of the establishments in the Charlie Chawke pub empire had a bumper year in 2016.

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Oil price flat despite Opec signalling further curbs

Oil prices were largely flat yesterday after steep losses the previous session, with rising US production weighing against comments from leading Gulf oil producers that an extension to Organisation of the Petroleum Exporting (Opec)-led supply cuts was likely.

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