What the papers say

Deal on rents; Brexit clearing row looms; INM pension deal closer?

16th December, 2016
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times leads with news that a 4 per cent ceiling on rent increases in Dublin and Cork, with other cities and commuter counties to follow, will be introduced next year after Fianna Fáil withdrew most of its objections to Housing Minister Simon Coveney's package of measures.

- The paper quotes a report from a British higher education think-tank, the Higher Education Policy Institute, as saying that governments and colleges should ignore international university rankings because they are flawed and unreliable.

- In business, the Irish Times says a Dublin company, the Irish Fairy Door Company, has received an early Christmas present after American reality TV personality Kourtney Kardashian endorsed it on social media, posting a photo of one of its miniature blue doors. The company plans to set up a base in the US next year.

- The paper says planning permission has been sought for a 155-bedroom "compact luxury" hotel on the site of the former Andrew's Lane Theatre near Dame Street in central Dublin. The application has been made by Appalachian Property Holdings Ltd, whose directors are Key Waste owners Neville O'Boyle and Mark Butler.

FINANCIAL TIMES

- The Financial Times leads with a report that the EU is planning rule changes that could deprive London of one of its flagship financial businesses by imposing territorial restrictions on the clearing of some euro-denomiated trasnactions even before Britain leaves the EU. London is the world's biggest centre for clearing euro derivatives.

- The FT says a formal bid by Rupert Murdoch's 21st Century Fox for full control of Sky sets up a showdown with smaller shareholders and a battle with British and European regulators. The US media group already owns 61 per cent of Sky.

- The paper says Verizon's $4.8 billion deal to buy Yahoo risks falling apart after the internet company led by Marissa Meyer revealed a second massive cyber attack, this time affecting more than one billion accounts around the world.

- The FT says US regulators have slapped Italian bank Intesa Sanpaolo with a $235m fine for violating anti-money laundering and bank secrecy laws.

IRISH INDEPENDENT

- The Irish Independent also leads with the rent measures, saying Housing Minister Simon Coveney is back in contention as a strong front-runner in the Fine Gael leadership race after facing down Fianna Fáil to secure the passing of his rent strategy.

- The paper says Independent News & Media and the trustees of the company's defined benefit pension scheme inched closer to agreement yesterday after weeks of controversy. The trustees called on INM yesterday to guarantee the payment of deficit repair contributions aimed at eliminating a deficit in the scheme.

- In business, the Irish Independent says US investment firm Colony Capital is set to acquire Nama's €1.5 billion Project Tolka loan portfolio, which includes the Burlington Plaza office complex on Dublin's Burlington Road.

- The paper reports that the biggest Domino's Pizza franchise operator in Ireland dished up a €7.1m pre-tax profit last year. This was a 25 per cent increase on 2014 for the company behind the outlets, Shorecal.

IRISH EXAMINER

- The Irish Examiner also leads with the rent cap story, saying that opposition TDs have warned that a two-month gap before the possible introduction of the limits to areas outside Dublin and Cork city could allow landlords to hike rents in the meantime.

- The paper reports on remarks from Bob Geldof, one of the highest-profile celebrity pro-EU campaigners in the Brexit referendum, who told an audience of students in Dublin that the EU does not work and needs a radical overhaul. He also predicted a European war within a generation or two.

- The Examiner quotes Aer Lingus's chief operating officer Mike Rutter as saying that the introduction of transatlantic flights from Cork Airport by Norwegian Air International may negatively impact Shannon, though he did not think it would affect Aer Lingus in Dublin.

- The paper reports that revenues rose by 14 per cent at the Irish arm of luxury brand Svarovski last year, lifting pre-tax profits from €25,000 in 2014 to €70,000.

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