Current Account: The idea that the staunchly Unionist Belfast Newsletter could fall into the hands of a company headquartered in rebel Cork is bound to induce apopleptic fits in some circles.
Irish Examiner parent Thomas Crosbie Holdings yesterday made it clear that it was interested in buying Trinity Mirror's Northern Irish businesses, namely Newsletter publisher Century Press and the Derry Journal group.
Given the hostile reaction that the then Dr Tony O'Reilly, who was subsequently made a knight of the realm, met from leading unionists when Independent News & Media bought the more moderate Belfast Telegraph, you've got to wonder what they'd make of a bunch of Corkmen owning the Newsletter.
Opposition to the Indo's bid for the Bel Tel in 2002 was led by Ulster Unionist Party deputy leader Mr John Taylor, who himself owns a number of regional titles in Co Armagh.
Ironically, Mr Taylor and others pointed out that the deal strengthened the Independent group's stranglehold throughout the island. As neither the Irish or British regulators agreed, it's hard to see the same argument sticking should Thomas Crosbie Holdings be successful.
The group is owned by the Crosbie family. Funnily enough, the original Thomas Crosbie, who took over the Cork Examiner in the late 19th century, was once turned down for a job with the London Times because he was a Catholic.
Barlo's cloud could be Mullins's silver lining
Lucky old Tony Mullins at Barlo. News that the company is facing a €30 million lawsuit could hardly have emerged at a better time for the chief executive who is contemplating a bid for the company.
With the broking community more or less united in their view that the 30 cents per share he was considering offering for Barlo significantly undervalued the business, news of the lawsuit creates a measure of uncertainty, which should work in favour of the management buyout (MBO) team.
The case, which is being taken by inventor Brian Mooney and his brothers, Eamon and Roy, through their family company, Igote, is listed to come to the High Court on November 4th.
The dispute is believed to centre around the claim by the Mooney brothers to own 49 per cent of two of Barlo's profitable subsidiaries.
Whatever its outcome, the prospect of the litigation is likely to be discounted in some shape or form in any bid for the company mounted before November.
It could also have the effect of discouraging the emergence of any rival bidders for the group, despite the claim in Barlo's annual report that the directors do not believe that any legal cases which have arisen in the normal course of business "will have a material effect on the financial statements of the group".
German interest
The Revenue Commissioners German counterparts, the Finanzaft, are no doubt taking an interest in the case taken this week against Helaba bank by the managing director of its Irish operations, Mr Patrick von Gordon, who was seeking orders preventing his dismissal
They must be particularly interested in Mr von Gordon's accusation that he was "confounded by a unilateral instruction from Germany to implement practices and financing structures. . . which he feared was illegal, as representing tax evasion from the German revenues authorities".
The German authorities have made no secret of their concern that the German exchequer might be losing out as a result of the IFSC-based operations of the large German banks.
Helaba - otherwise known as as State Bank of Hesse and Thuringia - described the allegations as outrageous. A spokesman at their Frankfurt office pointed out - somewhat sniffily - that Helaba is not being investigated for tax evasion in Germany.
