What Tuesday's papers say

Olympic tickets probe; Paddy Power Betfair chief to leave; Ireland's slow broadband speeds; Netflix's first buy

The main headlines from today's newspapers

IRISH TIMES

- The Irish Times says Government envoy John Deasy has queried the number of undocumented Irish in the US, suggesting it is much lower than the 50,000 figure usually cited. He said he believed the figures was closer to 10,000.

- The paper quotes Fianna Fáil Brexit spokesman Stephen Donnelly as describing Taoiseach Leo Varadkar's order to Revenue officials to stop investigating technical Brexit solutions such as electronic monitoring as "reckless" and "dangerous".

- In business, the Irish Times says dissident Conroy Gold shareholder Patrick O'Sullivan plans to seek the removal of the company's founder and chief executive Professor Richard Conroy at a second extraordinary general meeting of the company.

- The paper reports on the fall in Paddy Power Betfair shares after news that chief executive Breon Corcoran was stepping down, quoting analysts as saying the damage would have been even worse if the company had not been in a position to name a successor.

FINANCIAL TIMES

- The Financial Times leads with news of the departure of Breon Corcoran from Paddy Power Betfair, saying he was well-regarded in the industry as one of the few senior gambling executives to have foreseen the disruption caused by the rise of online betting.

- The FT says China's capital flow turned positive in the first half of the year, a reversal from unprecedented outflows during the previous two years that sparked worries over financial stability. The paper says the news suggests a crackdown on foreign deal-making has succeeded.

- The paper reports that electric car maker Tesla is to boost its cash reserves with another $1.5 billion as it tries to stave off the liquidity pressures caused by its headlong rush to become a mass-market producer.

- The FT says video streaming company Netflix has made the first acquisition in its 20-year history, buying Scottish comic book published Millarworld, the company behind Kingsman, Kick-Ass and Wanted.

IRISH INDEPENDENT

- The Irish Independent reports that the judge-led inquiry into the Rio Olympics ticketing scandal has failed to find any evidence of criminal activity or financial impropriety on the part of former Olympic Council of Ireland boss Pat Hickey, though it is critical of Hickey for his governance.

- The paper says it has learned that no agreements have yet been reached between developers and local authorities under the Local Infrastructure Housing Activation Fund, under which funding would be provided for infrastructure if developers agreed to provide 40 per cent of all new homes at a price of at least 10 per cent below market rates.

- In business, the Irish Independent says high-profile developer Michael O'Flynn is taking advantage of new Government "fast-track planning" laws to seek planning permission for his group's largest house plan since the economic recovery east of Glanmire village in Cork.

- The paper reports on newly-filed accounts for AA Ireland, which show that it posted a 17 per cent increase in profit after tax last year, helped by a growing customer base.

IRISH EXAMINER

- The Irish Examiner says business groups have called on the Government to step up to provide high-speed broadband, after a report showed Ireland's "shockingly slow" broadband speeds to be among the slowest in Europe. Ireland was below 25 other European states with an average speed of 13.92Mbps.

- The paper reports on an analysis by the Law Reform Commission, which shows that not a single person has been jailed over the last 10 years for health and safety offences, including where fatalities occurred, or for competition breaches.

- The Examiner quotes Sean O'Sullivan, managing director of Cork-based Seabrook Technology Group, as saying that a hard border after Brexit would severely undermine the "excellent social and commercial relations that have been so carefully constructed" in recent years.

- The paper reports on figures showing that Louth has the highest number of betting shops per capita in the country. Sligo has the lowest concentration. Paddy Power, Boylesports and Ladbrokes account for 72 per cent of all the shops.