Brexit resignation, Aventus targets rental sector, KBC assesses ‘all options’ and the office jerk

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

Ireland needs to prepare a fast-evolving labour market s over 60 per cent of current school-goers will end up in jobs that do not exist today, according to business lobbying group Ibec.

Ireland needs to prepare a fast-evolving labour market s over 60 per cent of current school-goers will end up in jobs that do not exist today, according to business lobbying group Ibec.

 

The news broke late last night that David Davis had resigned as Brexit secretary in a major blow to British prime minister Theresa May, who will appoint a replacement on Monday morning. We’ll bring you all the news and market reaction as we get it.

Elsewhere, Avestus Capital Partners, the real-estate investment company founded by four former Quinlan Private executives, has raised an initial €160 million of equity for a new fund dedicated to investing in homes in the Irish private rented sector. Joe Brennan has the details.

KBC Bank Ireland’s chief executive Wim Verbraeken will tell the Oireachtas finance committee on Tuesday, writes Joe Brennan, that the Belgian-owned group is continuing to assess “all options” as it looks to “materially reduce” its non-performing loan levels.

Wealth manager Utmost plans to add €3 billion to its assets under management over the next 18 months, two-thirds of which will come from its recently acquired Irish business - Utmost PanEurope. Peter Hamilton reports.

Envoys tasked by President Cyril Ramaphosa to scour the globe for $100 billion in investments for the South African economy arrive in Dublin on Wednesday to engage with state agencies and Irish businesses on potential deals. Bill Corcoran reports from Cape Town.

Expansion of activity in the Irish construction sector eased in June from “extremely elevated” levels recorded in the previous month, according to Ulster Bank. Joe Brennan reports.

A UK venture capital firm that set up an Irish unit late last year has said it is targeting its first equity investment in an SME within months, as Ulster Bank became the latest lender to back the initiative, writes Joe Brennan.

Ireland needs to prepare a fast-evolving labour market s over 60 per cent of current school-goers will end up in jobs that do not exist today, according to business lobbying group Ibec. Joe Brennan reports.

Chris Johns wonder how long the Brexit truce will last in the Conservative party and is still of the opinion that fudge is on the menu.

Pilita Clark laments the fact that the office jerk will always be with us.

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