Arytza stock plunges, Macquarie plans expansion and Smurfit makes €460m move

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

Aryzta, whose stock plunged on Thursday, owns the Cuisine de France brand.

Aryzta, whose stock plunged on Thursday, owns the Cuisine de France brand.

 

Aryzta’s stock plunged a record low on Thursday as the beleaguered Swiss-Irish baked goods issued a fresh profit warning, sparking fresh concerns about its new management’s ability to restructure the group and uphold its banking covenants. Joe Brennan reports.

Macquarie, the Australian investment bank, may shortly move ahead with expanding its Irish presence as part of its post-Brexit strategy. Cliff Taylor has the details.

Cardboard packaging manufacturer Smurfit Kappa has struck a €460 million Dutch deal, continuing its own mergers and acquisitions strategy after twice rebuffing two takeover proposals from US rival International Paper (IP) in recent months, writes Joe Brennan

Employers are committed to retaining defined benefit, or final salary, pension schemes, according to a new survey from the Irish Association of Pension Funds. However, most are closed to new members and more than one in three is not allowing members accrue further benefits. Dominic Coyle reports.

An investment group led by Irish entrepreneur Colm Piercy is looking to cash in on “an insatiable demand” for data centres in the US by developing a $225 million (€192 million) facility in Northern Virginia, writes Charlie Taylor.

The French like to linger over a home-cooked meal, the Americans prefer eating out and in Ireland, dual-earner couples work hardest. John FitzGerald looks at how we use our time.

Ciara O’Brien meets Twitter Ireland MD Sinéad McSweeney and talks trolls, fake accounts, referendum advertising and the revival of the social media platform.

In Planet Business Laura Slattery tries out the Brexit lexicon.

Simon Carswell casts an eye on the data protection regulator as GDPR dawns while Olive Keogh looks at how it is impacting on business.

Mark Paul meets Diarmuid Gavin inside Dunnes HQ and sees how he plans to sell plants in its stores in his own inimitable style.

Cormac Breathnach, from Galway tells us how he became a Kentuckian.

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