An unprecedented drive is underway by US multinationals in Ireland — which see their Irish operations as ever more critical to their global business — to continue to bring innovation and crucial R&D to this country.

The US economy grew faster than initially thought in the second quarter on solid domestic demand, showing fairly strong momentum that could still allow the Federal Reserve to hike interest rates this year.

Here’s a run down of today’s business headlines.

The Taoiseach has been driving home the message that Ireland is “not a tax haven” during the first day of his US visit, but told a group of influential American business leaders yesterday that they had an “open door” to the Irish Government.