Business  
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Sectors

Financial Services

IBRC liquidators given more time to value and sell €27bn in loans Minister for Finance Michael Noonan has given IBRC’s liquidators until midnight on November 30th to conclude the valuation process on its €27 billion loan book, and until December 31st to have agreed or completed the sale of assets in the bank. Photograph: David Sleator €1.2bn mortgage book will go on market in August or September

Technology

Ireland might be wise to look more closely at Google John Dixon, Ernst & Young’s head of tax, gives evidence the House of Commons Public Accounts Committee inquiry into Google’s tax affairs. Photograph: PA/PA Wire Analysis: Scrutiny of the web giant’s tax affairs may have serious knock-on effects

Manufacturing

Reshoring trend could benefit Ireland Caroline Dowling, president of integrated network solutions at Flextronics, said now was an ideal time for Ireland to harness the opportunity that reshoring presents. Conference hears wage increases in China have led companies to rethink location of manufacturing

Transport & Tourism

Revenues jump 13% at Ryanair Low cost airline Ryanair has announced pre-tax profits of €650.9 million. Photograph: Alan Betson/The Irish Times Low cost airline targets 20 per cent share of European short-haul market

Retail & Services

After Google, Amazon to be grilled on UK tax presence Amazon says it operates a single European business out of Luxembourg, rather than a multinational structure of independent subsidiaries in different countries. Photograph: Paul Faith/PA Wire Internet retailer has paid about $9 million in income tax on more than $23 billion of sales to British clients over past six years,
Plans to reopen Dublin restaurant The Unicorn The Unicorn Restaurant on Merrio Row, Dublin. A statement on the restaurant’s website said: ‘circumstances have meant we have to leave and the restaurant is now closed’. Movers and shakers had been entertained at Merrion Row venue since 1938

Energy & Resources

Cantillon: One-way interconnector points to scepticism over prospects for Irish gas exploration There may not have been a particularly pressing case for developing a two-way interconnector, but it was arguably short-sighted not to give it more consideration. Photograph: Christopher Furlong/Getty Images It appears little thought was given to the idea that gas might one day flow from the State to Britain
Cantillon: Paddy Power hedging its bets on US gamble Paddy Power chief executive Patrick Kennedy stressed that the cost of the licence and the size of the US market would be key criteria when it comes to deciding whether or not to invest there. Photograph: Alan Betson Company watching developments as US states look to legalise online betting
Bord Gáis Networks considers €200m cost of interconnectors Neither of the gas interconnectors with Britain, built at a total cost of €600 million, can be used to export gas from here, as when they were built in 1993 and 2003 the Government was focused on securing supplies to meet high projected demand. Photograph: Christopher Furlong/Getty Images Pipes that import 90% of gas used here not designed to allow exports to Britain

Health Pharma

Royalty ups Elan bid by 10% Kelly Martin, chief executive of Elan, says the transactions will deliver long-term growth in income and value. Photograph: Alan Betson/The Irish Times Irish drugmaker announces two more deals plus plans to raise $800 million

Agribusiness & Food

Danone to form a joint venture and invest in China’s biggest dairy producer Danone, owner of Activia yogurt and Evian water, will spend about €325 million to form the joint venture Company will have initial indirect investment of 4% in China Mengniu Dairy

Media & Marketing

Image Publications ‘optimistic’ on profits Image Publications recently relaunched Image.ie and hired a full-time editor, repositioning it as the home for original fashion and lifestyle content rather than a straight reproduction of the print magazine. Publisher of women’s glossies and in-flight title ‘Cara’ says turnover grew 34% in 2012
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Other Sectors

No special Vodafone dividend despite US windfall Vodafone’s operations in Italy and Spain were written down by £7.7 billion due to poor performance as part of the restructuring costs. Revenues down at mobile operator for first time in seven years

Commercial Property

Waltons Music to open at Retail Park 2
Castlemarket shop rented at €40,000
Shake-up at St Stephen’s Green centre St Stephen’s Green shopping centre: reorganisation designed to broaden its appeal. photograph: alan betson Internal reorganisation to create up to five large retail units on the ground floor
Rathgar AIB branch sells for €4m to show return of 7.5%