Kellogg pays no corporation tax in Ireland as sales top €1.2bn

The main Irish arm of breakfast cereal giant Kellogg last year paid zero corporation tax for the second year running as revenues topped €1.28bn. New accounts filed by Kellogg European Trading (KET) Ltd with the Companies Office show that it recorded a 27pc jump in operating profits, from €38.7m to €49.36m, in the 12 months […]

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Law firm taps ex-Central Bank regulator

Law firm Eversheds has appointed former Central Bank official Ciaran Walker as a consultant. Mr Walker was deputy head of enforcement at the Central Bank of Ireland until September. He’s now joined Eversheds Consulting, a part of the solicitors’ firm that uses consultants, lawyers, audit and risk specialists to provide tailored consulting services to clients. […]

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Ryanair fares to fall more than expected as O’Leary bemoans weak sterling

The weak sterling is playing havoc with Ryanair’s earnings as the airline has predicted its average fares to fall by between 13pc and 15pc. The Irish aviation giant has reduced its full-year profit estimate by 5pc to between €1.3bn and €1.35bn, meaning profits are set to grow by 7pc from 2015. Average fares were originally […]

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Explosion in numbers renting means 850,000 people are now tenants

There has been an explosion in the number of people renting as the housing crisis worsens. Some 850,000 people now live in rented accommodation. Most of the rise is accounted for by Dublin, where the number of households renting privately has risen by 61pc since 2011. This is one of the strongest rises in the […]

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Epayment firm ACI opens new data centre, creates 50 jobs

Electronic payment company ACI Worldwide has opened a new state-of-the-art data centre in Limerick with the aim of expanding the firm’s capabilities in Europe. ACI boast a host of major clients, including two of Ireland’s biggest banks. The business built the new centre in record time as it looks to accommodate growing demand from Europe, […]

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More applying for insolvency deals, but fewer arrangements put in place

THE number of financially-stretched people applying for a State-sanctioned debt deals has doubled. But the actual number of deals put in place is down. New figures from the Insolvency Service of Ireland show that almost 900 people applied to put a formal arrangement in place with their lenders. The figures were for the three months […]

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ABP buys its third production facility in Poland

Larry Goodman’s ABP Food Group, the international meat, pet food and renewables business, has expanded its operations in Poland with the acquisition of a production facility in the east of the country. The facility, acquired from Polish processor Sklodowsky, will increase ABP’s production capacity in Poland to up to 250,000 cattle per year. The announcement […]

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Samsung flags €4.8bn profit hit from Note 7 failure

Samsung on Friday said it expected to take a hit to its operating profit of about $3bn over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone. The outlook brings to about $5.3bn the total losses the global smartphone leader has forecast as a result of the overheating issues, […]

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Samsung flags €4.8bn profit hit from Note 7 failure

Samsung on Friday said it expected to take a hit to its operating profit of about $3bn over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone. The outlook brings to about $5.3bn the total losses the global smartphone leader has forecast as a result of the overheating issues, […]

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