A pledge by the US central bank, the Federal Reserve, for a massive spending spree of all types of US debt failed to put the brake on the global stock market sell-off, suggesting that investors are looking for huge government spending programmes and not just market-calming initiatives by central banks.
Shares in Paddy Power owner Flutter Entertainment crashed by nearly 10% despite the betting company expressing confidence that the Cheltenham horseracing festival will go ahead next month amid fears mass public events could be caught up in the fallout from the spread of the coronavirus.
Shares in Paddy Power owner Flutter Entertainment — which is set to publish annual results — were stable despite rival William Hill suffering after it said further UK regulatory changes were likely to weigh on results this year.
A handful of Irish-related shares, including Tullow Oil, Glanbia and Bord Gáis owner Centria, were among the big stock market losers in Europe in the past year. Flutter Entertainment, which owns Paddy Power and Betfair, as well as Ryanair and Kerry Group were, however, among the big winners.
The Brexit gloom lifted helping boost the shares of Irish banks and property firms, as well as the owner of Paddy Power, as investors bet the risk of a crash-out Brexit had receded for the time being.
Shares in Flutter — the betting conglomerate that includes Paddy Power, Betfair, its Australian and now key operations in a newly liberalised US — surged over 6% after it unveiled no nasty surprises in half-year results.
Automaton, artificial intelligence (AI) and machine learning future are changing the working lives of people in contact centres quicker than any other sector. The good news is that Skillnet Ireland is working closely with businesses to keep Irish customer experience (CX) ahead of the curve.
A primely set, corner investment property in the heart of Cork’s suburban Douglas village which once was the focus for an €8m bar and restaurant venture is for sale for €1.75m plus Vat, let to three tenants and earning €174,000 a year in rent.
The experts predict that a defeat may be snatched from the jaws of victory, with logic lacking in the Brexit negotiations. From local concerns to the international outlook,report on this week’s Brexit progress.