Tuesday October 20, 2020

What Thursday's papers say

Election day in Britain; UCD funding warning; Independent TD holding back on Varadkar

8th June, 2017
The main headlines from today's newspapers

IRISH TIMES

- The Irish Times leads with the British election, saying the campaign has been overshadowed by two deadly terrorist attacks, amid wildly diverging predictions about the outcome. It says final polls point to anything from a Conservative landslide to a hung parliament.

- The paper says two redbrick Victorian homes on the Dublin suburb of Clontarf have been bought by the Dublin Region Homeless Executive for almost €2m to house homeless families, in a move that has angered some local residents.

- In business, the Irish Times says Finance Minister Michael Noonan has played down warnings about a new property bubble and the economy overheating due to housing construction. He was speaking in Paris at the OECD after signing a convention on tax avoidance. The OECD has warned about the prospect of new Irish housing bubble.

- The paper says Cork businessman Neil O'Leary is leading a $5m investment in a new technology company called MyDawa that aims to supply medicines in Kenya at discounts of up to 40 per cent.

FINANCIAL TIMES

- The Financial Times leads with the news that Spain's biggest bank, Banco Santander, has agreed to buy domestic rival Banco Popular for a symbolic €1 after EU authorities declared that the Madrid-based lender was "likely to fail" due to toxic property loans.

- The FT quotes Conservative and Labour strategists as saying privately that prime minister Theresa May could return with a majority of 50 to 100 seats after today's British election, as she focuses on Brexit in a bid to win dozens of previously safe working class Labour seats.

- The paper says banking giant HSBC is facing a fresh legal battle over allegations that its traders manipulated foreign exchange markets for their own profit at the expense of their clients, with the claims centring on trades from more than a decade ago.

- The FT says the chief executive of advertising group WPP, Sir Martin Sorrell, looks to have defused shareholder anger over the size of his pay package after a reduction in the number of investors voting against or failing to back his pay at its annual meeting.

IRISH INDEPENDENT

- The Irish Independent says UCD has warned that it will have to consider cutting the number of places for Irish students if it does not get more funds, adding that higher fees paid by international students are increasingly subsidising third-level Irish students.

- The paper quotes the head of the Dublin Airport Authority, Kevin Toland, as telling a Seanad committee that Brexit will lead to airlines offering fewer routes to Britain and cause increased prices from the spring. He called for the introduction of duty-free shopping between Ireland and Britain immediately after the latter leaves the EU.

- In business, the Irish Independent says analysts have warned that a hung parliament in today's British election could send sterling plummeting to around 92p against the euro, dealing a significant blow to Irish exporters.

- The paper quotes sources as saying that Bank of Ireland's outgoing chief executive Richie Boucher is considering a future role with Canadian billionaire Prem Watsa, who bought into the bank at the nadir of the financial crisis.

IRISH EXAMINER

- Unaligned Independent TD Michael Harty has told the Irish Examiner he has yet to agree to back new Fine Gael leader Leo Varadkar as Taoiseach after being "taken aback" by a lack of health reform guarantees.

- The paper also reports on the warning from UCD president Professor Andrew Deeks that it will look at cutting places for Leaving Certificate students in the coming years unless funding problems are urgently addressed.

- The Examiner says one of Cork's most historic hotels, the Metropole, is poised for a €50m investment that will double its rooms tally, add shops at ground level and see the construction of another three-star hotel to be called The M.

- The paper says Trinity College's planned technology campus for Dublin's so-called Silicon Docks area could cost up to €1.25 billion, with the college saying that the project would represent one of the largest infrastructural projects undertaken in Ireland since the IFSC.

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