Saturday May 30, 2020

What Thursday's papers say

FF/FG relations 'plummet'; ESRI warns on hard Brexit impact; EU watchdog may probe Garda funds

22nd June, 2017
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times says the country's most senior judge, Chief Justice Susan Denham, has rebuked Taoiseach Leo Varadkar and Fianna Fáil leader Micheál Martin over Dáil comments about former Attorney General Máire Whelan and senior members of the judiciary as the controversy over the former AG's appointment to the Court of Appeal continued.

- The paper says the governing body of Dublin Institute of Technology has ordered its president to provide a report which is highly critical of senior managers for serious failures in financial governance to the Dáil's Public Accounts Committee.

- The Irish Times reports on the ESRI's warning that the government will have €600m less for spending and tax cuts in the event of a hard Brexit, as the hit to the Irish economy's growth potential would reduce the fiscal space available by €200m a year for the first three years after Britain leaves the EU.

- In business, the paper says the Department of Finance may consider overhauling the state's flagship enterprise programme, the Employment Incentive and Investment Scheme, which is facing criticism from companies and investors who complain it is a "mess" and bogged down in administration.

FINANCIAL TIMES

- The Financial Times says ride-hailing company Uber is facing a leadership vacuum after the departure of chief executive Travis Kalanick, a move that divided investors after it left the world's largest private tech group with its three top executive posts vacant.

- The FT says the Bank of England's chief economist, Andy Haldane, has put himself at odds with the bank's governor Mark Carney by suggesting that British interest rates should soon rise, the day after Carney said "now is not the time" to do so.

- The paper reports that Chinese stocks hit an 18-month high after a decision by index provider MSCI to include them in its global benchmark equity index for the first time, which the paper calls a milestone in Beijing's efforts to draw international funds into the world's second-largest market.

- The FT says Volvo plans to take on Tesla in the high-performance electric car race after splitting out its Polestar division into a separate brand. Volvo is owned by China's Geely Automotive.

IRISH INDEPENDENT

- The Irish Independent leads with the ESRI's report on the costs of a hard Brexit, saying it will cost €200m a year and deprive the Irish economy of 49,000 jobs over a decade.

- The paper says the EU watchdog OLAF is poised to probe the suspected fraudulent use of EU funds provided to gardaí, which ended up in a mysterious Dublin bank account. The paper adds that this would mark an escalation in the controversy over finances at the Garda Training College at Templemore.

- In business, the Irish Independent says air passenger traffic between Ireland and Britain in 2017 is on course to breach a record of 12.8 million set just last year, despite last June's Brexit vote and a slump in sterling that has hit visitor numbers from Britain. It says, however, that competition and a stronger euro have given a boost to Irish flyers heading to Britain.

- The paper says Dublin-based consumer finance firm First Citizen Finance is muscling deeper into commercial property lending after securing a €150m financing facility with NatWest Markets, the corporate and institutional banking arm of Royal Bank of Scotland.

IRISH EXAMINER

- The Irish Examiner says relations between Fine Gael and Fianna Fáil have "plummeted" amid accusations of bad faith between Taoiseach Leo Varadkar and Micheál Martin over the Máire Whelan appointment. It says the clashes have led many on both sides to suggest a general election is far more likely this year.

- The paper says Housing Minister Eoghan Murphy will today concede that a crucial deadline to end the use of emergency accommodation for homeless families by the end of the month - made by his predecessor Simon Coveney - will not be met.

- The Examiner says business leaders in Cork city have called for a discount in commercial water bills after a burst main forced several businesses to close and left 40,000 people without water.

- The paper says one of the country's fastest growing food chains, Freshly Chopped, has officially opened in Cork, with an eye on more expansion in the city before the end of the year.

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