A Clerys deal, another fine for Google and what really brings happiness

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

 

The US fund that sold Clerys for €1 the night before it was put into liquidation four years ago has finally offered to reimburse the losses of the store’s 50 concession holders, but only if they sign gagging orders. Mark Paul has the details.

Google is digesting its latest EU fine for anticompetitive behaviour. Ciara O’Brien reports on the events that led to the €1.49 billion penalty - the search giant’s third in just two years.

TheUS Federal Reserve gave its clearest indication yet that it will not raise interest rates this year amid fears about a slowdown in the US economy.

Irish domiciled, US drug company Perrigo has an 80 per cent chance of overturning a €1.6 billion tax bill imposed by the Irish authorities, a US analyst has told investors. Mark Paul reports.

John Slattery, brother of Avolon boss Dómhnal, has been named as the chief executive of the €3.7 billion joint venture between the Boeing and the commercial aircraft manufacturing business of Brazilian group Embraer writes Barry O’Halloran.

And as the case between the children of Sean Quinn and the IBRC over responsibility for million of euro in loans proceeds towards its first witness testimony, the court heard yesterday that the Quinn group was “chronically mismanaged” and operated “without any regard for the rules of corporate governance”. Mary Carolan was there.

Speaking of loans, new mortgage lending in the Republic rose by €1 billion last year to nearly €9 billion, according to the Central Bank. But, as Eoin Burke-Kennedy reports, that’s just a fraction of the close to €40 billion that was being lent annually ahead of the financial crash.

In Net Results, Karlin Lillington looks at a report on the scourge of tracking cookies on government websites, including health service portals, which compromise user privacy.

And Cantillon casts a somewhat jaundiced eye over the uncanny correlation between the happiest people as ranked by the latest UN Happiness Report and the world’s richest countries.

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