PTSB’s bad loans, Elysian Tower sale, foodie heaven and Irish business on the export trail

Permanent TSB returned fire late on Tuesday in the ongoing battle over its plans to sell mortgage loans with a face value of €3.7 billion. Charlie Taylor writes that over three-quarters of the loans relate to private homes and that, on average, the loans are three and a half years in arrears.

Barry O'Halloran reports that US property player Kennedy Wilson is in pole position to buy Ireland's tallest building, the Elysian Tower apartment block in Cork, from its owner, private equity fund Blackstone, which acquired it in a settlement with the tower's original developer Michael O'Flynn.

Jamie Oliver may be struggling with parts of his restaurant empire in the UK, but Ireland appears more profitable as Fiona Reddan reports that the operator of the chef's Irish business plans to open a second restaurant – this time in Dublin city centre.

Another city centre arrival, The Ivy, is now recruiting ahead of its opening off Dawson Street, writes Fiona, while Jack Fagan reports that Le Pain Quotidien is also planning to open in the same building.

Profits at Kerry’s consumer foods dips, but nutrition division rises 7%

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C&C abandons US agreement with Pabst for cider portfolio

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Food and drink industry calls for State aid rules to be relaxed over Brexit

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Head of Latvia’s central bank denies bribery allegations

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When it comes to pharma and technology, Ireland often adopts ideas from the US. Now, it's working the other way, Charlie Taylor reports, as biopharma training centre NIBRT is establishing a $10 million presence in the US in a joint venture with Philadelphia-based Jefferson University.

Another home-grown business, educational publishing company CJ Fallon has completed a €25 million refinancing that will free up cash to provide a windfall for its US and Irish shareholders, writes Mark Paul.

RTÉ is to become a digital-first service in a bid to attract a younger audience and offset falling advertising sales, according to a five-year strategy published on Tuesday, writes Simon Carswell. But the broadcaster says the strategy will require additional State funding.

German discounter Lidl says it is exporting ¤230 million in Irish produce to other stores in its international network and is now spending around €500 million on produce from Irish suppliers, according to Conor Pope.