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Mixed year so far for tourism with Brexit having an impact

TODAY'S BUSINESS - IRISH EXAMINER

Irish livestock among lowest in EU for antibiotic use

Irish livestock has among the lowest antibiotics use in the EU, veterinarian Fergal Morris told the MSD Animal Health conference in Dublin.

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‘Money talks’ as Opec output curbs pay off for cartel

A new accord by the Organization of the Petroleum Exporting Countries (Opec) to extend its curb on output has not yet had its desired effect of driving up prices but the effect of earlier cuts may be paying off for the cartel, an Irish energy has said.

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Agri-services group Origin hit by weak sterling

Shares in Dublin-based agri-services group Origin Enterprises dipped yesterday after it said sterling’s weakness versus the euro impacted on its seasonally important third quarter revenues.

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Lenovo eases profit decline

Lenovo’s quarterly profit has fallen less than expected after the global personal computer market eked out growth for the first time since 2012.

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Brexit will hit online buying hard, says Revenue chief

Online shopping deliveries from the UK will be subject to the same costs as a package from the US or Asia following Brexit, the chairman of the Revenue board, Niall Cody, has said.

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Total Produce raises annual earnings outlook

Irish fruit distribution company Total Produce has raised its earnings outlook for 2017 after seeing a continuation of its strong trading performance in the first four months of the year.

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Ex-Ford Motor chief to bank $57.5m despite $25bn shares slump

Former Ford Motor chief Mark Fields, who led the company as it lost almost $25bn (€22.3bn) in market value, could walk away with payouts worth about $57.5m.

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Not enough houses to cater for ‘large scale repossessions’, says broker

There is not enough social housing to allow for “widespread repossessions” and the new mortgage-to-rent scheme offers the best way of tackling the huge backlog in mortgage arrears, Davy Stockbrokers has said.

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Sterling slump hits tourism in many counties

Tourism in the Republic has been hit by the Brexit slump in sterling which has reduced spending from the North and cut visitor numbers crossing the Irish Sea from Britain, an official survey suggests.

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Cork to Limerick road may get funds for upgrade

A finance deal to upgrade the Cork to Limerick road could be drawing closer after discussions held with the European Investment Bank in Luxembourg and Finance Minister Michael Noonan and Expenditure Minister Paschal Donohoe.

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Diageo secures go-ahead for its whiskey distillery

Diageo has secured the go-ahead for its €25m plan to construct a new distillery at its St James’s Gate base in Dublin for its new premium blended Irish whiskey, Roe & Co.

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Opec nears output cut deal

Opec and non-member oil producers have moved closer to clinching a deal on extending output cuts by nine months to clear a global stocks overhang and prop up the price of crude.

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Britvic Ireland wants more clarity on sugar tax plans

Soft drinks manufacturer Britvic Ireland is calling for more clarity around the Government’s sugar tax proposals, due for implementation next April.

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Norwegian confident on deal for Europe to US flights with low-fare model

Norwegian Air said it remains confident that a deal can be struck with Ryanair or another airline to transport passengers from continental Europe to the US using the low-fare model.

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Katie Taylor boxing clever as profits pass €1.4m mark

Katie Taylor was boxing clever outside the ring last year as accumulated profits at her firm passed the €1.4m mark. 

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Ryanair boss Michael O’Leary: Hard landing for UK flights

Ryanair chief Michael O’Leary stepped up his warnings over Brexit saying the outcome of the talks would lead to an “inevitable” hard landing and bring major disruption to flights into and out of the UK.

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Providence Resources upbeat on Barryroe despite snub

Providence Resources boss Tony O’Reilly Jr has said landing a development partner for the company’s headline asset — the Barryroe oil and gas field off the Cork coast — remains the top priority despite a potential deal collapsing in the last few months.

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M&S insists ‘depressed’ clothing sales on the mend

Retailer Marks & Spencer said improving profit margins and steady market share showed its struggling clothing business was on the mend, despite a 10% drop in annual earnings and sliding sales in the latest quarter.

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Greencore shares rise on improved US outlook

Greencore shares rebounded by more than 9% yesterday after management reaffirmed the growth potential afforded by its recent purchase of US company Peacock Foods.

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Saoirse Ronan’s firm gets a star turn as profits on the rise

Saoirse Ronan’s star turn in awarding-winning Brooklyn has paid off for the young actor’s bank balance, with profits soaring over €430,000 at her entertainment firm.

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Hibernia Reit eyes offices growth

Property firm Hibernia Reit said it has the resources to spend on growing its office holdings and may seek to expand its buy-to-let residential holdings.

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Household debt remains high at €30k

The average Irish household owes over €30,000 — making Ireland the fourth most indebted country in the EU, the Central Bank has found.

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Apple and Nokia agree terms over patent dispute

Nokia has settled its legal battle with Apple with a new patent licence agreement and also signed a business deal with the US giant, surprising investors who had expected the dispute to drag on.

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Travel software company Datalex targeting numerous client wins

Irish travel software company Datalex has told shareholders that it expects to land a number of new client wins before the end of this year.

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Brexit starting to squeeze UK economy even tighter

The Brexit squeeze on British consumers has hurt the UK government’s finances as well as retailers, new figures show, indicating that the economic slowdown at the start of the year is now being felt more broadly.

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Cork property owners urged to avail of tax break to restore buildings

Property owners in Cork city are being encouraged to avail of a national scheme aimed at restoring historical buildings.

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EU approves strategy for Brexit talks, says negotiator Michel Barnier

The EU has finalised its tough Brexit negotiating position, reiterating its hard line on the UK’s departure bill and refusing to discuss a future trading arrangement until there is agreement on other key topics.

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Runway faces third legal bid

A third legal challenge over a decision extending planning permission for development of a new €320m runway at Dublin Airport has been fast-tracked by the Commercial Court.

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Irish games firm buys Chinese company

Irish-founded computer games services firm Keywords Studios has extended its presence in Asia with the $6m (€5.3m) purchase of Shanghai-based company Strongbox.

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Patent ruling to help Apple

The US Supreme Court tightened rules for where patent lawsuits can be filed in a decision that may make it harder for so-called patent “trolls” to launch sometimes dodgy patent cases in friendly courts, a major irritant for high-tech giants like Apple and Alphabet’s Google.

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