What Tuesday's papers say
BoI may breach pay cap; US airline's social media storm; home care means test proposal; fracking ban call
- The Irish Times says US secretary of state Rex Tillerson arrives in Moscow today amid increasing indications that the Trump administration is hardening its stance against Russia following last week's poison gas attack in northern Syria. The US blames the Syrian regime for the attack, but has also accused Russia of being complicit or not doing enough to stop the attack.
- The paper says Deirdre Foley, the businesswoman associated with the purchase of the Clerys building in Dublin, is facing criminal charges arising from the collective redundancies at the former department store.
- In business, the Irish Times says Bank of Ireland has effectively been given the nod by the Minister for Finance to breach a €500,000 state-imposed pay cap to secure a new chief executive. The remuneration of outgoing chief executive Richie Boucher exceeds the limits.
- The paper reports that Galway medtech company Neuravi has been taken over by US life sciences giant Johnson & Johnson in a landmark deal that gives J&J access to the fast-growing stroke care market. No price was given but the paper says the deal is valued "comfortably" in the hundreds of millions of euro.
- The Financial Times leads with the news that Barclays chief executive Jes Staley, who has publicly pushed for higher ethical standards at the bank, is facing sanctions from regulators and a big pay cut for trying to uncover the identity of a whistleblower.
- The FT says US airline United Continental ignited the wrath of social media yesterday after as dramatic video showed a screaming and bleeding passenger being forcibly removed from an overbooked flight.
- In companies news, the paper quotes directors at US bank Wells Fargo as saying that they would claw back an extra $75m in bonus pay-outs after an internal investigation into its sham accounts scandal found that top executives knew of staff abuse years earlier than previously disclosed.
- The FT says global technology groups Tencent, EBay andMicrosoft have injected $1.4 billion into Indian e-commerce group Flipkart to boost its firepower for an intensifying battle with Amazon. This comes ahead of a proposed takeover by Flipkart of its biggest domestic rival, Snapdeal.
- The Irish Independent leads with news of a report commissioned by the Department of Health, saying elderly people are likely to undergo a means test and pay a significant contribution towards home care under new plans for an extended scheme. Currently all HSE home care packages are free, but demand is growing as the population ages.
- The paper says Brexit is providing a boost to consumers as it is now cheaper to import groceries from Britain, quoting figures from Kantar Worldpanel which showed that the grocery market has slipped into deflation for the first time in almost two years.
- In business, the Irish Independent reports on figures from the Dublin Port Company showing that passenger numbers at the port fell by almost 10 per cent in the first quarter of this year to 270,171, with tourist vehicle numbers down by almost 5 per cent.
- The paper says a Reuters report that countries hoping to lure banks from London are offering differing regulatory standards bears out fears raised last month by Financial Services Minister Eoghan Murphy, who said Ireland faced "dangerous competition" for post-Brexit jobs and questioned whether some regulators were being prudent.
- The Irish Examiner says mid-ranking Gardaí have launched a scathing attack on Tánaiste Frances Fitzgerald over her failure to attend their annual conference at a time of "crisis" in the force. The paper adds that members of the Association of Garda Sergeants and Inspectors are also set to have a cut at the Garda commissioner when she arrives later today.
- The paper says a report to be published tomorrow by the Oireachtas Joint Committee on Communications, Climate Action and Environment will back a ban on fracking, with a warning that it would be irresponsible to allow it.
- The Examiner quotes Finance Minister Michael Noonan as telling a conference in Dublin that the Government is prepared to inject more money into long-term capital spending to meet the growing strains in the economy.
- The paper says the Competition and Consumer Protection Commission has started unannounced inspections of car dealers to root out traders selling crashed and clocked cars. CCPC chairwoman Isolde Goggin said the watchdog had taken action against a number of dealers in recent months and had secured a prison sentence in one instance.