Independent News & Media shareholders were gathering for its AGM yesterday as news broke that the company had agreed a sale to Belgian group Mediahuis. Joe Brennan, Mark Paul and Eoin Burke-Kennedy chart a day of drama for the company, its investors and its prospective new owners.
First quarter results from Apple last night detailed how the company's flagship product continued to struggle. iPhone sales fell 17 per cent although shares in the company spiked after-hours as it announced another share buyback.
Up to 30 per cent of Ireland's corporation tax receipts could be vulnerable to ongoing plans for international tax reform, a Department of Finance policy conference heard. The advice for the Government? Don't bank on these funds or build them into recurring expenditure, writes Cliff Taylor.
Staff at retailer Karen Millen have been underpaid for at least the last four months, the company has conceded. As Peter Hamilton reports, no one is saying how it happened but the company has promised to put things right for staff.
Kerrygold has become the first Irish food company to clock up a billion euro in annual sales, following the release of its latest figures. Eoin Burke-Kennedy has the details.
Broadcaster Miriam O'Callaghan has had 51 named people joined to her defamation action over the use of her name and image by people selling skincare products online.
In her column, Fiona Reddan examines whether Part V of the 2000 Planning and Development Act is actuallydelivering social housing in integrated communities that it intended...or are council conceding on that vision just to get access to social housing units at all.
Meanwhile, Fiona Walsh looks at the chastening of Mike Coupe, the boss of British supermarket group Sainsbury, who was caught singing "We're In The Money" when the proposed merger with Asda was unveiled but must now face shareholders at an AGM today with that dream in ruins.
In Commercial Property, developer Joe O'Reilly's Chartered Land has teamed up with Henderson Park Capital to acquire the landmark Heuston South Quarter in Dublin city centre from US property giant Marathon Asset Management for €222 million – a healthy premium to the price paid by marathon four years ago. Ronald Quinlan reports
And Paddy McKillen Jnr's Oakmount and partners Core Capital have paid around €10 million to acquire a key waterfront site in the Dublin docklands.
Ronald also has details the sale by US-headquartered property giant Hines of the Bishop's Square development in Dublin's Kevin Street.
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