CRH 'prepares to sell €1.7bn distribution arm'

CRH 'prepares to sell €1.7bn distribution arm'

Building materials group CRH is reportedly closing in on a €1.7bn sale of its European Distribution business to private equity fund Blackstone.

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IMF blog post on corporation tax poses challenge for Ireland

IMF blog post on corporation tax poses challenge for Ireland

A new IMF blog post, arguing that low corporation tax rates harm poor countries, will make uncomfortable reading for the Government, as it battles to maintain Ireland’s decades-old business model.

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Providence Resources shares rise on Barryroe funding optimism

Providence Resources shares rise on Barryroe funding optimism

Shares in Providence Resources have risen on the back of the oil and gas exploration company indicating that funds necessary to progress the development of its flagship Barryroe field, off the Cork coast, will be forthcoming.

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Grafton Group shares fall as conditions weaken in core UK market

Shares in Irish building products provider Grafton Group fell 3.5% after it said it has begun to see a weakening in its core UK market.

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Deutsche Bank to cut 18,000 jobs around the world

The German Bank intends to completely exit activities related to the buying and selling of shares.

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Government's Global Ireland 2025 plan targets Asian expansion

The Asia Pacific Strategy - which will be revealed later - includes a new communications strategy to increase Ireland's visibility.

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Ruth Doris: Automating the mounds of paper for the legal eagles

Legal firms have long been associated with mounds of paper files in dusty offices. Now firms like LexTech are disrupting the industry which is traditionally conservative by streamlining processes through the use of software to drive digitisation, data capture, and automation.

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Value of National Digital Research Centre companies soars to €600m

Companies which have participated in the National Digital Research Centre’s accelerator programmes are now collectively worth €600m, and have attracted €250m in follow-on investment raised to date.

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Business movers: New account director with corporate PR firm Heneghan

Emma Gallagher has been promoted to account director with corporate PR firm Heneghan PR.

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MCCI sets the bar for return on investment

The Microelectronic Circuits Centre Ireland has increased research revenue from €7.5m in 2018 to €8.1m in 2019, its annual report shows.

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Companies fail to train for innovation

Up to 69% of organisations do not provide specific innovation training for their employees, according to a study conducted by Trainers’ Learning Skillnet and the Irish Institute of Training and Development

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Teamwork at heart of engineering projects

In her role as project director with Jacobs Engineering, Cliona Kennedy is responsible for leading the design and construction of manufacturing facilities for many major global life sciences companies.

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Familiar feeling as Irish government spending plans unsustainable, says treasury expert

John Finn, MD of Treasury Solutions Ltd, says that he is concerned that Ireland has not learned the lessons of a decade ago and if Ireland was one of the companies that Treasury Solutions has advised in its debt management and financing, he would urge prudent investment management, sound evaluation of capital investment opportunities and the establishment of solid, robust borrowing arrangements.

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Carpetright plans shop closures in bid to reduce 'oversized' Irish store network

British floor covering retailer Carpetright plans to close down some of its Irish stores after seeing a 5.5% drop in sales here over the past year.

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Rugby star lines out in new business role

Denis Fogarty has been appointed as senior account manager with National Business Machines (NBM) in Cork, a Xerox concessionaire and provider of printers and software packages.

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Cork Airport new head of security as it invests €10m in baggage screening project

Deirdre O’Donovan has been appointed as the new head of security operations and police at Cork Airport.

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Communications firm Edelman names three new directors as business doubles in size

Communications firm Edelman has promoted Emma Williams, Jennifer Hyland and David Callaghan, who have been appointed as directors on foot of significant new business wins.

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UCC professor wins two top international dental research awards

UCC’s head of the College of Medicine and Health, Professor Helen Whelton, is the 2019 recipient of the Distinguished Scientist H. Trendley Dean Memorial Award.

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Online platform offers low-cost architect quality design

Single houses represented almost 1,100 out of a total of 4,275 of new dwellings in the first quarter, according to CSO figures.

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Satisfied with its green credentials

Barbara-Anne Richardson says Heineken’s decade-long commitment to being a sustainable and green brewer is what convinced her to join the firm, writes Pádraig Hoare

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Judiciary putting brakes on planners

The courts will continue to play an important role as a brake on the actions of developers as shown by one Kildare farmer’s long-running legal tussles with the IDA, says Kyran Fitzgerald

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Skin empire has a clear vision

Pestle & Mortar CEO Sonia Deasy tells Trish Dromey about the company’s big expansion plans

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Irish division bucks Dixons-Carphone downward profit trend

The Irish arm of electronic goods and mobile phone retail giant Dixons-Carphone grew sales by almost 11% last year.

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Late filing penalty fees make up 37% of Companies Registration Office's revenues in 2018

Late filing penalty fees totalling €7.2m accounted for 37% of the Companies Registration Office's revenues of €19.27m last year.

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US property giant set for €530m Irish office sale

US-based property investment fund Starwood Property Trust is understood to be preparing to sell a portfolio of offices in Dublin, in one of Ireland’s biggest real estate sales.

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Don’t let State spending go up in smoke

The fiscal hawks sounding the warnings must be heeded by the Government, says Kyran Fitzgerald, and public pay and capital expenditure must not be allowed to keep drifting up

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Call for action on tax appeal backlog

In its pre-Budget submission, the Law Society said there were "two obstacles to justice that require redress" this year.

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Mortgage rates for Irish customers edge upwards

The regulator said the weighted average interest rate on all new mortgages agreed in Ireland stood at 3.03% in April, up three basis points on the previous month.

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Exports to Britain up despite Brexit uncertainty

The value of exports to Britain increased by €102 million to €1.13bn in April, a 10% jump compared with the same month in 2018.

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State economist warns of overheating economy and severe Brexit shock

The Government's top economist has said the State may have to take special measures - including providing short-term finance - in order to protect businesses in the event of a disorderly Brexit delivering a severe economic shock.

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Call for budget measures over 'entrenched' long-term mortgage arrears crisis

It comes as new Central Bank figures show that long-term arrears “are entrenched” as ever, with 27,979 mortgage accounts in arrears for over two years at the end of March -- an unexpected increase since the start of the year, said the senior policy analyst at the Free Legal Advice Centres, or Flac.

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CRH shares sink despite more buys and uptick in US infrastructure approvals

Shares in CRH fell by more than 3% despite signs of a recovery in roadbuilding contracts in the US and the group strengthening its building products business there.

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Parties seek legal advice on legality of government's blocking of proposed offshore drilling ban

The Green Party and People Before Profit are seeking legal advice over measures the Government has taken to effectively block legislation targeting a ban on oil and gas drilling in Irish waters.

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Compensation culture is killing off recreation businesses

Hillwalkers, mountain bikers, and outdoor adventurers must take responsibility for their own injuries, as contact sports players do, says John G O’Dwyer.

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Profits at Irish arm of Argos jump 60%, but revenues fall

Pre-tax profits at the Irish arm of British catalogue retailer Argos jumped nearly 60% last year, new figures show.

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Irish firms' have 'unparalleled opportunity' for US growth

Irish businesses have been urged to invest in the US market, with states in the American heartland seen as ripe for growth.

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UPDATE: Sci-fi themed bar The Cauldron hopeful of opening Dublin outpost

Fans have been left disappointed by the announcement that plans to open a sci-fi themed bar in Dublin has been cancelled.

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Who will succeed Vestager is a more important question than where she might end up

Who’d be a politician? Despite being dubbed the most powerful woman in Brussels, Margrethe Vestager may soon be out of a job.

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Ireland can benefit from escalating global trade spats

The visit of US President Donald Trump to Shannon last week may have improved his chances of re-election next year, as he and his sons made the most of the welcome in Doonbeg to flaunt the Irish connection and appeal to the 30 million Irish-Americans back home.

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'Woodford mess shines fresh light on regulators'

Hype and high finance simply do not go well together.

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Business movers: Michael Healy appointed GM of Deliveroo in Ireland

Michael Healy has been appointed as general manager in the Republic of Ireland for Deliveroo, the food delivery app service.

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Smart app to do tax expenses

Fitzgerald & Partners Accountants in Kinsale has rolled out a free app to help self-employed and SMEs manage their tax expenses and finances on the go. The firm launched the app on iTunes and Google Play recently to help attract younger customers to the firm.

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Losses soar at Debenhams in Ireland

Exceptional costs at the Irish arm of the troubled retailer Debenhams contributed to its pre-tax loss soaring to over €20.6m last year.

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C&C doubles executive pay to €5m

Drinks group C&C effectively doubled — to almost €5m — combined pay to its executive management team last year, according to its annual report.

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'Too early' to know if Irish jobs to go as part of Aviva cuts

Aviva Ireland says it is too early to know whether or not it will be affected by the British insurance group's plans to cut 1,800 jobs in its global operations.

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Italy's Salvini appears to be on another collision course with EU over budget sums

The Italian government looks sets to another collision course with the European Union as the commission seemed set to impose sanctions on the country over its budget deficit, sending Italian bond yields sharply higher.

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Providence Resources shares tank on fresh Barryroe drilling delay

Providence Resources shares plummeted by more than 20% on the back of a further delay to planned drilling at the company's flagship Barryroe oil and gas field off the Cork coast.

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Applegreen reviewing ownership options for UK hotels business

Motorway services station and fuel forecourt operator Applegreen is reviewing its UK hotels business and is assessing a number of options regarding the division's future ownership.

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Pádraig Hoare's Monday Interview: Tapping a worldwide whiskey boom

Maud and Sam of Blacks Brewery and Distillery in Kinsale have launched a five-year fund that allows investors to indulge their love of the spirit by keeping or selling on their whiskey

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Business Movers: The biggest appointments in Irish business this week

Harry Lorton has been appointed as president of the Institute of Directors. A member of the Institute since 1995, he serves as chairman of Bank of Ireland Mortgage Bank, Independent Trustee Company, Johnson & Perrott Motor Group and of the Supervisory Committee at Royal Liver Assurance Sub-Fund, part of the Royal London Group.

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ARQ soars with remote oil monitoring solution

Former naval officers Conor O’Sullivan and Ronan Carey formed ARQ Asset Solutions when they saw that Irish companies were losing around €1bn annually through poor management of lubricants in their machinery.

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SafeTrx is world’s top smart water safety app

SafeTrx is the world’s leading non-GMDSS (Global Maritime Distress and Safety System) maritime smartphone safety application in the marketplace, in use in 12 countries and growing rapidly.

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Maritime wind energy huge potential for jobs

Investment in maritime area wind energy projects is being held back by the lack of clarity around the time it takes to assess planning applications.

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Job of the week: A chance to work with Cork's best known voice

The Neil Prendeville Show on Cork’s RedFM wants to hire an Assistant Producer to work on his successful radio show.

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Fáilte Ireland adds €150m to boost nationwide attractions

Fáilte Ireland plans to invest €150 million in developing major new visitor attractions of scale across the country.

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Sky is the limit for Navy Blue sports stars

The advent of summer dictates the exact opposite of lazy, hazy days for Niall Woods as he gears up for the upcoming Rugby World Cup and the Tokyo Olympics in 2020.

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Larry Goodman office development approval 'threat' to retailer

An Bord Pleanála has granted planning permission for a €100m office development in spite of the Kilkenny Group warning that the proposal will result in "serious consequences" and job losses for its flagship store in Dublin.

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€6.8m in pay for pub owners

The couple who own some of Ireland’s best-known pubs, including Kehoes and The Stag’s Head in Dublin, shared a bumper pay-packet of €6.8m last year.

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‘Bogus letters’ probe goes on over Supermac’s motorway plaza planning bid

Gardai have interviewed “a substantial number of witnesses” in its investigation into bogus letters for a planned €10m Supermac’s motorway forecourt outside Ennis.

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Central Bank governor Lane: Long-term economic hit from hefty wage hikes is no ‘small issue’

The risks of hefty wage increases tipping the economy into a new crisis have risen significantly and will require the Government to keep monitoring the threat each and every quarter, outgoing Central Bank governor Philip Lane has warned.

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