Equity released, a sweet deal and disappearing pubs

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

The number of homes built in the second quarter was up 34 per cent on this time last year, but it is still far short of demand. Photograph: Rui Vieira/PA Wire
The number of homes built in the second quarter was up 34 per cent on this time last year, but it is still far short of demand. Photograph: Rui Vieira/PA Wire

Management at Seniors Money, one of the major players behind equity release mortgages during the property boom, have bought out the institutional backers of the Irish and Spanish businesses and are looking to re-enter the market. Mark Paul has the details.

Mark also reports that Valeo Foods has closed a sweet deal for the British maker of many old sweetshop favourites like Black Jacks, Fruit Salads and sherbert dip dabs.

Elsewhere, a new report from the drinks industry says that there are now 1,477 fewer pubs than in 2005 but, writes Charlie Taylor, some areas are doing better than others.

And while it's been a good summer for most, that doesn't include travel website Hostelworld, which reported a "softness" in bookings, writes Eoin Burke-Kennedy.

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With an eye to the cooler weather on the horizon, Irving Oil, the Canadian owner of the Whitegate refinery in Cork, has acquired the family-owned Tedcastle group, which operates the Top Oil brand, reports Charlie Taylor.

The number of homes built in the second quarter was up 34 per cent on this time last year, according to the CSO's new and more reliable housebuilding index, but it is still far short of demand. Eoin Burke-Kennedy reports.

American Airlines has announced plans for direct flights next summer from Dublin to Dallas Fort Worth in Texas, while Ryanair is starting to sell tickets for Air Malta flights, writes Barry O'Halloran.

Greece may be out of its bailout but it is still a long way short of having a settled economy, writes Cliff Taylor, who chafes at the congratulations from Europe's elite to a country still mired in misery and debt.

Commercial property editor Jack Fagan returns as the market begins to stir after the summer with details of a Dublin docklands site seeking ¤52.5 million for 72 homes.

Finally, Apple says it will release a new low-cost laptop as well as a long-awaited professional-focused upgrade to the Mac mini desktop later this year.

Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times