Sterling trims losses after vote, EU dumps digital tax plan, and difficult decisions on Help to Buy

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Sterling trimmed its losses in a volatile session on Tuesday evening after UK parliamentarians voted down Theresa May’s tweaked Brexit deal

Sterling trimmed its losses in a volatile session on Tuesday evening after UK parliamentarians voted down Theresa May’s tweaked Brexit deal

 

Sterling trimmed its losses in a volatile session on Tuesday evening after UK parliamentarians voted down Theresa May’s tweaked Brexit deal, prompting speculation that an extension on the EU exit date or a second referendum may be on the cards.

Meanwhile, as part of the so-called Brexodus, the Central Bank has authorised one of the Europe’s fastest growing fintech firms Optal,as it seeks to diversify its operations away from the UK post-Brexit.

Back in Brussels, EU attempts to tax the digital giants were laid to rest by EU finance ministers at their Ecofin meeting. They agreed to freeze the measure until the end of 2020 pending work at Organisation for Economic Co-operation and Development (OECD) level. However, in welcoming the decision Minister for Finance Pascal Donohoe said that “given the concerns of our citizens I accept that we will have to make changes globally.”

The listed company that runs Domino’s in the UK and Ireland says it has agreed to pay €12.5 million for a 15 per cent stake in Shorecal, the pizza chain’s biggest Irish franchisee, valuing the business at about €83 million.

Ambitious national targets meant the All-Irelandelectricity grid would soon need to be able to cater for almost 100 per cent renewables at any one time, according to the boss of Eirgrid.

Irish consumers are prepared to pay extra for local produce, and are more conscious than the average global shopper when it comes to the use of plastic packaging, according to a new survey out today.

Datalexshares soared on Tuesday after the embattled software company revealed its main shareholder, Dermot Desmond, is in talks to provide it with €10 million in extra funding that would take it to within a whisker of a stake that would trigger a mandatory takeover offer.

In her column this week Fiona Reddan assesses the difficult options facing the Government as it decides whether to extend the current Help to Buy scheme.