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BP’s Irish CEO quits, Apple cuts iPhone prices, and private school costs

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

Bernard Looney resigned as chief executive of BP. Photograph: Prakash Singh/Bloomberg

Peter Flanagan's face
Peter Flanagan
Wed Sep 13 2023 - 06:22

BP’s Irish chief executive Bernard Looney resigned after failing to disclose past relationships with colleagues. The Kerry native had been in the top job since 2020.

Apple has cut the price of its new line of iPhones in Ireland, even as it hikes prices in the US. Ciara O’Brien is on the ground at Apple’s HQ in California.

Smurfit Kappa’s shares slumped on Tuesday as investors digested news that they will end up with 50.4 per cent of a $20 billion-plus ($10.7 billion) merged group it has agreed to create with US peer WestRock. Joe Brennan reports.

Tesco’s Irish retail business made a profit of €108 million last year on revenues of just under €3 billion, according to the first set of statutory accounts that the grocer has filed here. Ciaran Hancock and Laura Slattery have seen the accounts.

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Local residents are contesting Dublin City Council’s grant of permission to Ardstone for a €300 million buy-to-sell apartment scheme near Milltown in South Dublin. Gordon Deegan has seen the residents’ submissions.

In Money Matters, Brianna Parkins looks at the costs of sending children to private schools, and how the basic fees are only part of the picture.

Medicines giant MSD has officially opened expanded facilities at its Carlow vaccines plant as well as a new biologics unit in Dunboyne, Co Meath. Dominic Coyle reports.

Twelve projects were announced as winners at the Business to Arts Awards 2023 yesterday, which recognise partnerships between businesses and the arts. Ellen O’Regan reports.

The German investor Union Investment has paid about €75 million for a portfolio of 140 apartments built by developer Michael Cotter’s Park Developments in the north Dublin suburb of Sutton. Ronald Quinlan has the details.

Billionaire Irish financier Paul Coulson said on Tuesday he will step down in November as chairman of the Ardagh Group he has turned over the past 25 years into a multinational glass and metal containers giant. Joe has the details.

The owners of a Co Cork takeaway who dismissed a pregnant cook because she was absent with severe morning sickness have been criticised for the “foolishness” and “unlawfulness” of their actions and ordered to pay €16,000 in compensation. Stephen Bourke reports.

Allan Beechinor, the former co-chief executive of Altada Technology Solutions, made a tax settlement with the Revenue Commissioners earlier this year relating to underdeclared income tax. He’s among the latest list of tax defaulters, which Ian Curran has reviewed.

In commercial property, Ronald Quinlan reports on an office in Dublin’s IFSC on the market for €17 million, while an Irish investor has forked out almost €16 million for the former Hibernian Club on St Stephen’s Green in the capital.

Ronald also reports on Richmond Homes seeking €11.5 million for a ready-to-go residential site in Foxrock, while the Dublin home of Windmill Lane studios is on the market for €7.6 million.

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