What Friday's papers say

Government orders building costs study; Fair Deal scheme rejections increasing; PwC probed over BT scandal

30th June, 2017
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times leads with a warning from Daft.ie economist Ronan Lyons that house prices will continue to rise for the next ten years unless drastic action is taken. The paper says the warning comes as the government has ordered an investigation into the cost of building houses in other European countries because it does not accept claims that developers need more incentives.

- In business, the paper reports on a warning from Eoghan O'Mara Walsh, the chief executive of the Irish Tourist Industry Confederation, that hospitality businesses face the loss of about €100m this year as the fall-out from Brexit hits British holidaymakers' spending power.

- The Irish Times reports that German discount grocer Aldi is investing €60m in a reboot of its Irish stores format, in a roll-out known internally as Project Fresh.

- The paper quotes the DAA's chief communications officer Paul O'Kane as saying that planning restrictions on Dublin Airport's proposed new €320m runway could cost more than 17,000 jobs.

FINANCIAL TIMES

- The Financial Times says a global sell-off in the bond market spread to equities yesterday amid fears that the post-crisis era of easy money from the world's central banks was coming to an end. It says such concerns triggered the worst day for European shares since September and the biggest fall for the US S&P 500 in more than a month.

- The FT reports on a decision yesterday by British culture secretary Karen Bradley, who said Rupert Murdoch's effort to take full control of European pay-TV broadcaster Sky would probably give him too much power over Britain's media and politics, throwing up a significant hurdle to his effort to seal the £11.7 billion takeover.

- The paper says PwC is being investigated by Britain's accountancy watchdog over its audit of BT after a scandal in its Italian division, where the telecoms firm's discovery of irregularities led to a £530m writedown.

- The FT says Europe has leapt over the Asia-Pacific region to become the second-largest destination behind the US for mergers and acquisitions for the first time in three years after a burst of deals.

IRISH INDEPENDENT

- The Irish Independent says the number of elderly people rejected for the Fair Deal scheme of financial support for nursing home care is on the rise, with at least 379 people being turned down in the last three years. The paper says many of those turned down were regarded as too well-off.

- After a government announcement that a ban on flat-rate fee bin charges won't begin to kick in until September, the paper carries an analysis piece which warns that tougher regulation of waste companies is on the cards unless the industry cannot resist the temptation to increase bills.

- In business, the Irish Independent reports on a warning from Irish technology, business and tax lobbyists that a failure to cut taxes on start-up share options could encourage entrepreneurs to look elsewhere. This comes after the European Commission gave Sweden the go-ahead to eliminate income taxes on share options at start-up companies.

- The paper says the overseas offices operated by Enterprise Ireland and the IDA cost €38.8m to operate last year, with EI's office in London the costliest to operate at €2.7m in 2016.

IRISH EXAMINER

- The Irish Examiner also reports that plans to phase out flat-rate waste collection fees have been delayed again, and will not come into force until the autumn. But the 12-month price freeze agreed with the waste collection industry will expire as planned tomorrow.

- The paper says the Policing Authority was told yesterday that 89 homicides between 2003 and 2017 had not been reported to the Central Statistics Office because they were flagged incorrectly on the Garda Pulse system.

- On property, the Examiner quotes Daft.ie economist Ronan Lyons as saying that sharp rises in property prices have not been caused by the government's help-to-buy scheme. He says there have not been enough new homes sold in the first half of the year for this to explain such market-wide trends.

- The paper says A-techSYN, a Shannon-based company specialising in drone flying research, is to move to the Shannon Free Zone business park in County Clare with the creation of 25 jobs by 2019.

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