Newsround: what Tuesday's papers say

State to raise up to €3.8 billion from AIB share sale and Russian police crack down on protesters

13th June, 2017
Wednesday's papers

The top stories in Monday's newspapers:


- The paper reports that the state is set to raise up to €3.8 billion from selling a stake in AIB to stock market investors this week with shares priced at €3.90 to €4.90 each. The deal will also generate €41 million in fees for investment bankers, lawyers and other parties, it says.

- It also reports that the government will seek "full and detailed transparency" for any agreement between the Democratic Unionist Party and Theresa May's Conservatives, Minister for Foreign Affairs Charlie Flanagan has said. Talks today between the DUP and the British prime minister are expected to yield a deal under which Arlene Foster's party would support May to form a government.

- The Protection of Life During Pregnancy Act is "unworkable" for women and girls and "unfair" on psychiatrists, leading practitioners have warned. John Hillery, president of the College of Psychiatrists of Ireland, said the act, which sets out the circumstances in which a woman can have an abortion, brought psychiastrists "a step away" from what they are trained to do.

- In its business section, the paper reports that the €2.6 billion cross-border trade in goods could fall by up to 17 per cent if Brexit occurs without a trade deal in place, leading to the fallback position of the imposition of World Trade Organisation tariffs, according to new research.


- The paper reports that the European Union's chief Brexit negotiator, Michel Barnier, has warned that Britain risks crashing out of the EU in March 2019 without a deal on future relations if it wastes more of the limited time available for Brexit talks. He urged London to quickly appoint a negotiating team that is "stable, accountable and with a mandate".

- It also says that hundreds of demonstrators were arrested in St. Petersburg yesterday as Russian authorities sought to scupper protects organised by Alexei Navalny. The opposition leader and anti-corruption activist was himself detained by police outside his home before he could reach a Moscow protest.

- European and Asian technology stocks fell yesterday as investor concerns over high valuations for the sector rippled round the world following a sell-off in New York on Friday. Until the end of last week, the S&P 500 tech sector had been up 21.9 per cent for 2017, the paper says.

- It also reports that Brussels has decided it must have the power to force parts of London's lucrative euro clearing business to relocate to the EU after Brexit to preserve financial stability. The European Commission will say today that it wants a new system to vet whether, and under what conditions, non-EU clearing houses should be allowed to handle large volumes of euro-denominated business.


- Fianna Fáil is pushing to have the allocation of speaking time in the Dáil dramatically restructured to favour larger parties, the paper says. In a shift away from "new politics", Míchéal Martin intends to team up with incoming Fine Gael Taoiseach Leo Varadkar to rebalance power in the Dáil to reflect the number of TDs in a party.

- It also reports on the planned sale of AIB shares, saying that the ECB could veto anyone trying to build up or offload a major stake in AIB once it returns to private hands, according to a prospectus for investors released last night. The government set the price range for the sale at between €3.90 and €4.90 per share, well below the €6.50 a share level at which the small number of shares currently available have been trading, the paper says.

- Mobile phone charges for roaming calls and texts in the EU are to finally end this week but consumers have been warned that they could still face steep EU roaming bills for using services such as Facebook, WhatsApp and Instagram. The new EU-wide law comes into force on Thursday, June 15.

- In its business section, the paper reports that consumer spending in the UK fell for the first time in almost four years last month, signalling shoppers are growing more cautious and adding to fears that the economy there is cooling.


- The government is to be briefed in the coming weeks on forthcoming laws giving law enforcement agencies powers to intercept email and internet communications. The measures are contained in proposed legislation to legally underpin online bugging, powers already in place in relation to telephone communications, the paper says.

- It also reports that the civilian head of human resources in An Garda Síochána, John Barrett, who found himself in conflict with the Garda Commissioner, has stepped down as the force's representative on the Policing Authority's ethics committee. Barrett informed the authority that he was stepping down last Thursday.

- Microsoft has unveiled the Xbox One X, which it described as "the world's most powerful console". It contains the fastest processor chip ever used in a games console, the company said, and will offer true 4K gaming to users. The console will go on sale on November 7.

- Gardaí are desperately trying to find the head or arms of a dismembered man, whose partial remains were carelessly discarded along a 20-kilometre stretch of road in the Wicklow Mountains, the paper says. Senior officers said the partial remains were not providing clues to the man's identity and they needed to locate other remains.

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