Thursday February 20, 2020

What Thursday's papers say

Currency firm stalls on Dublin move; EU begins to freeze out British firms; pay figure 'alarms' Government

20th April, 2017
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times leads with the British election, saying prime minister Theresa May kicked off seven weeks of campaigning yesterday with a promise of strong and stable leadership after MPs overwhelmingly backed her call for a vote on June 8.

- The paper quotes a member of the Sisters of Charity as saying that the new €300m national maternity hospital in Dublin will "always respect the rights of the mother and baby". The Department of Health's decision to give sole ownership of the state-funded hospital to the group has provoked controversy.

- In business, the Irish Times says London-based currency exchange operation LMAX Exchange, which signalled last October that it would seek to set up an EU hub in Ireland as soon as this year, has stalled on a decision until 2019 due to uncertainty about the outcome of Brexit talks.

- The paper reports that TV3 will take a "Super Bowl Sunday" approach to the Six Nations rugby tournament next year, capitalising on its rights by launching and promoting new shows on its schedule, according to director of programming Bill Malone.

FINANCIAL TIMES

- The Financial Times, referring to an internal memo from top European Commission officials, says the EU is starting systematically to shut out British groups from multi-billion-euro contracts and urging companies to decamp to remaining EU members as it prepares for Brexit.

- The FT says Emirates airline is cutting the number of its flights to the US in a strong sign that new security measures introduced by US president Donald Trump are hitting the operations of the big Gulf carriers.

- The paper says a 70 per cent rise in profits at Morgan Stanley capped a rousing first-quarter earnings season for the top US banks, with its big rise in bond-trading revenue throwing Goldman Sachs' weaker performance into sharp relief.

- The FT reports on figures from Deloitte which show that Premier League football clubs made a combined loss for the first time in three years in the 2015/16 season, as a new television rights deal helped fuel record spending on players.

IRISH INDEPENDENT

- The Irish Independent leads with remarks from the general secretary of the PSEU union Tom Geraghty, who says unions will seek pay rises worth around €1.6 billion at upcoming talks on a new public sector pay deal. The paper says the figure will alarm the Government.

- The paper says that Ireland faces stumping up more cash for the EU budget if Britain leaves without paying the estimated €60 billion bill mooted by the European Commission. It reports that an EU expert with the London School of Economics told the Brexit Select Committee net contributors to the EU budget - which include Ireland - would have to bridge any gap.

- In business, the Irish Independent says one of the main opponents of Apple's planned €850m data centre development in Co Galway has objected to a proposal by Amazon to build a massive €1 billion data centre in Dublin, raising the prospect that it could also be delayed.

- The paper says ferry group Irish Continental is seeking a €75m loan from the European Investment Bank to help bankroll the €154m construction of a new vessel.

IRISH EXAMINER

- The Irish Examiner says US-based Kerryman Kevin O'Sullivan has emerged as the buyer of the Port of Cork site, which signed yesterday for an unconfirmed figure of about €5m. The paper says it may now see a landmark development, including an iconic tower up to twice the size of the 17-storey Elysian or Liberty Hall.

- The paper reports on yesterday's figures showing the highest rise in property prices in two years, quoting economists as saying that there is "now little doubt" that the Government's help-to-buy scheme has fuelled price hikes.

- In business, the Examiner says Primark is set to embark on its largest store expansion round in ten years as it strengthens its presence in mainland Europe and the US on the back of a strong first half of its financial year.

- The paper says Visafirst.com, a company which specialises in overseas work visas, has moved to calm fears of a rush by Irish people worried about the impact of Australia's scrapping its 457 visa, which allows foreign workers in on a temporary basis.

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