What it says in the papers

What it says in the papers
The main headlines from today's newspapers

Hard line on Garda pay?; Central Bank concern on complex products; May has Heathrow backing

IRISH TIMES

- The Irish Times says that as gardaï plan to take unprecedented strike action for four days, Minister for Public Expenditure Paschal Donohue has told ministers he is unwilling to agree a special pay deal for members of the force. The paper reports that the Independent Alliance last night signalled it would back a hard line on the strike.

-The paper says US Republican presidential nominee Donald Trump has turned his sights on Irish businessman Denis O'Brien as part of his latest attack on Democrat Hillary Clinton. It says Trump last night published a statement drawing attention to O'Brien's close ties wth the Clintons and the family's charitable foundation.

- In business, the paper says Ulster Bank and the Financial Services Union have agreed a two-year extension to their procedural and relationship agreement, which allows for voluntary redundancies on attractive terms. The deal will apply to the bank's businesses north and south of the border.

- The Irish Times says Vodafone is understood to be furious at a decision by the Irish Farmers' Association to back Eir's bid for the National Broadband Plsn. Vodafone is competing with Eir for the Government's tender through Siro, its joint venture with the ESB.

FINANCIAL TIMES

- The Financial Times quotes close allies of British Prime Minister Theresa May as saying that she has enough support in parliament to drive through a contentious expansion of Heathrow Airport if she decides to put it to a vote next month.

- The FT reports that, in the wake of the Brexit vote, French financial regulators ACPR and AMF announced yesterday that they were simplifying the often laborious process of registering financial companies, accepting legal documents in English from EU-registered groups seeking to move to France. The paper says the move is a clear attempt to lure companies across the English Channel.

- The paper says London Stock Exchange Group and Deutsche Borse have offered to sell the British group's French clearing unit as they try to fend off concerns in Brussels that their potential merger will damage European capital markets.

IRISH INDEPENDENT

- The Irish Independent says the Central Bank is coming down hard on investment firms that are selling risky and highly complex products to ordinary consumers. The paper says regulators are concerned that the risks linked to credit-linked notes, a form of derivative, are not being explained to ordinary investors.

- The paper reports that Microsoft Ireland boss Cathriona Hallahan has raised concerns with the Government about the security of energy supply in Ireland to facilitate the continued deployment of data centres in the country.

- The Irish Independent reports on newly-filed accounts which show that profits at PayPal's Ireland-based European services unit more than halved to €4.3m last year, as its administrative expenses jumped to €163.3m from €141m. It paid €1.5m in corporation tax, the accounts show.

IRISH EXAMINER

- The Irish Examiner leads with a survey by the Educational Research Centre which finds that children who spend more time on computer games, watching TV or online have poorer maths and reading skills. The study involved 8,000 Irish primary school pupils.

- The paper says Independent TD Michael Lowry has dismissed Taoiseach Enda Kenny's denial of a special understanding with him and claimed he has a direct line to the Government. Lowry said he meet the Government chief whip regularly and backs the Government to "do what is right" for his Tipperary constituency.

- The Examiner quotes newly-filed accounts for the Aviva Stadium's operating company as showing that it generated operating profits of €3.6m last year, down 21.5 per cent from 2014, despite the return of top-drawer concerts and the Republic of Ireland's successful qualifying campaign for the Euro 2016 finals in France.

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