What Friday's papers say

EU raided four insurance brokerages; cars seized over M50 tolls; fake breath test report delay

7th July, 2017
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times says German chancellor Angela Merkel has conceded that meaningful agreement may be impossible amid policy disagreements and shifting global leadership roles at a G20 meeting that opens today amid high security in Hamburg.

- The paper says it has established that at least four insurance brokerages in Ireland were raided by European Commission officials on Tuesday concerning allegations of anti-competitive practices in the market for insuring trucks and lorries.

- The Irish Times says US Senate committee investigators vetting Donald Trump's nominee as assistant secretary of the treasury for international finance, Adam Lerrick, have zeroed in on his role at a Dublin outfit linked to Argentina's sovereign debt crisis, and its links to an Irish children's charity.

- The paper reports on a research paper from the European Commission, which finds that getting rid of the Universal Social Charge would reduce income tax receipts by 20 per cent, severely restricting government spending.

FINANCIAL TIMES

- The Financial Times leads with news that one of the world's biggest consumer goods companies, Reckitt Benckiser, has acknowledged that its sales will be hit by an estimated £110m this year because of last month's global cyber attack. The paper says this is the first sign that the malware had more impact on companies than originally disclosed.

- The FT says Donald Trump faces renewed scrutiny of the riches that flowed into his property empire from the former Soviet Union after Felix Sater, described as a fixed for a Kazakh family accused of pumping dirty money into US property, agreed to assist an international investigation into his former business partners.

- In companies news, the paper says Mark Tucker, the incoming chairman of banking giant HSBC, is in a hurry to find a successor to Stuart Gulliver as chief executive and plans to announce the board's choice this year. The paper adds that British regulators have indicated that HSBC should give full consideration to recruiting an outsider.

- The FT says Ukrainian authorities are assessing whether to revoke PwC's right to audit domestic banks after officials uncovered a $5.5 billion balance sheet hole at PrivatBank, the lender that was nationalised last year.

IRISH INDEPENDENT

- As new census data show a sharp rise in the number of people aged 65 and older in Ireland, the Irish Independent says the numbers waiting for free home care have jumped from 4,381 to 4,600 over the last six months.

- The paper reports that sheriffs have seized luxury cars including BMWs, Audis and Mercedes after their owners repeatedly failed to pay tolls on Dublin's M50. 170 vehicles have been seized, 65 last year alone, according to Transport Infrastructure Ireland.

- In business, the Irish Independent quotes the chief executive of Qatar Airways, Akbar Al Baker, as saying that US airlines want to push Gulf carriers out of America so they can impose higher fares. He also rejected claims by US airlines that Gulf carriers are trying to dominate global aviation by using unfair subsidies.

- The paper says An Bord Pleanála has given the green light to developer Gerry Gannon for a €60m housing development at Belcamp on the Malahide Road in north Dublin.

IRISH EXAMINER

- The Irish Examiner says some TDs have accused the Gardaí of attempting to "bury" the reasons for the fake breath tests scandal after it emerged that the report into the controversy will not now be published until next month - after the Dáil breaks up for the summer.

- The paper says some TDs have expressed concern about new contracts from waste provider Panda, which is advising householders renewing contracts with provisions that collectors can enter properties that fines will also apply to materials going into the wrong bins.

- In business, the Examiner quotes a study commissioned by the media industry as saying that the Public Alcohol Bill - which puts restrictions on alcohol adverts - will cost Irish media €20m a year in lost revenue.

- The paper reports on a forthcoming article for the Law Society of Ireland Gazette by the society's president Stuart Gilhooly, which accuses the insurance industry of using the Setanta Insurance fall-out to "excuse their egregious increase in premiums".

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