BUSINESS - BREAKING NEWS

Taoiseach Enda Kenny has insisted Ireland will not be changing its corporation tax rate, writes Fiachra Ó Cionnaith of the Irish Examiner.

TODAY'S BUSINESS - IRISH EXAMINER

White House hails ‘biggest tax cut’ in US history

The White House made its opening bid for what officials called the “biggest tax cut” in US history — with cuts that would benefit businesses, the middle class and certain high-earning individuals — but left unanswered questions about whether the plan would be paid for, or how.

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The public sector will always be better off than the private sector

A pay increase of 2% per annum for three years is an odd way to begin a reform programme.

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Oracle’s Irish unit in the red on higher costs

The main Irish subsidiary of US technology giant Oracle went into the red last year in spite of revenues increasing by 8% to €8.7bn.

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Glanbia wants ‘long Brexit transition’

The boss of Glanbia has called for “as long a transition period as possible” following Brexit if current trading conditions between Ireland and the UK cannot be maintained.

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Trump retreats on wall funding

The threat of a US government shutdown this weekend has appeared to recede after President Trump backed away from a demand Congress include funding for his planned border wall with Mexico in a spending bill.

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Limited relief for Ireland in Trump's tax plan

There was no disguising the double whammy that the unexpected US election result meant for Ireland’s prosperity.

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Shannon Group sets aside €1.33m for redundancies

The Shannon Group last year set aside €1.33m to finance a group-wide voluntary redundancy scheme and expects to incur additional costs in a further phase of the scheme this year.

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Pizza Hut eyes Ethiopia as African presence grows

Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.

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Record Mercedes sales help to lift Daimler expectations

German luxury car manufacturer Daimler has raised its forecasts, predicting a significant rise in operating profit this year after a surge in sales of Mercedes-Benz luxury cars and sports utility vehicles, boosted by the launch of new models.

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Investors support Tullow Oil board

Tullow Oil shareholders have unanimously voted in favour of the company’s planned board changes and executive pay policy despite some criticism in the lead up to its AGM yesterday.

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CRH upbeat on 2017 outlook

CRH has hailed a “satisfactory” start to 2017, with first quarter sales ahead by 4% on a year-on-year basis.

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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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