Brexit warning for banks; car sales woes; and high spirits with gin

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

 Former British foreign secretary Boris Johnson delivers a speech to Conservative party members at the leadership hustings in Birmingham. Concern remains about leadership in British politics, Chris Johns argues. Photograph: Andy Rain/EPA

Former British foreign secretary Boris Johnson delivers a speech to Conservative party members at the leadership hustings in Birmingham. Concern remains about leadership in British politics, Chris Johns argues. Photograph: Andy Rain/EPA

 

The Central Bank has warned UK financial services firms and banks that providing unauthorised financial services to Irish residents after a no-deal Brexit would be a criminal offence. Jack Horgan Jones reports.

New car salesin Ireland will hit decade lows next year unless the Government amends vehicle registrations tax (VRT) and motor tax bands to take account of new, tighter emissions tests, an industry source says. Neil Briscoe and Peter Hamilton report .

Sales of spirits on the other hand have shot up on the back of a sharp jump in the number of people drinking gin, particularly pink gins, writes Charlie Taylro. But vodka remains Ireland’s favourite spirit tipple followed by whiskey.

On a more sobering note, investors have criticised a bullish assessment by Morgan Stanley of the potential of Kingspan, citing concerns about its access to the fast-growing high-rise sector, writes Joe Brennan. The analysts note that the Cavan insulations material group is focused elsewhere and is, anyway, developing products that will help it target this new market.

The Broadcasting Authority is looking to extend its reach to regulate social media but any such move will require a significant increase in its budget, writes Charlie Taylor.

Denis O’Brien’s Digicelwill be among several groups asking a New York court this week to throw out a case alleging fraud in the deduction of levies from customers for calls and foreign exchange services transactions in Haiti. Mark Paul has the details.

The State paid €1.6 million for a site near Rosslare Port where State inspectors will carry out checks on UK imports in the event of a no-deal Brexit, writes Simon Carswell. The 16-acre site was formerly owned by Bill Cullen’s Glencullen group and used as a Renault car import centre.

Allergan’s Westport operation has received a boost with news that US regulators have given the green light to the use of Botox – manufactured exclusively at the Mayo plant – as a treatment for children with cerebral palsy and other conditions that cause spasticity in their upper limbs.

Winging it might seem to pay off at times but, when it comes to public speaking, even the seemingly off-the-cuff is likely to have been well-prepared, writes Pilita Clark. And so it should be, she argues.

Finally, even on holiday, Chris Johns cannot escape the shadow of Brexit. And though he falls short of the apocalyptic vision of one Briton he meets in France, he finds plenty of lessons in Europe’s turbulent history to give cause for concern about the current lack of leadership.

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