Waterford engineer’s €50m windfall, Fiat’s French merger and gripes over Glenveagh

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Fiat Chrysler is in advanced discussions to forge extensive ties with France’s Renault

Fiat Chrysler is in advanced discussions to forge extensive ties with France’s Renault

 

Waterford-based businessman Eddie Walsh, who made €7.5 million from the sale of an engineering company 12 years ago, is set to make a multiple of that amount in deal to his latest venture to a German buyer for an estimated €50 million. Joe Brennan reports on the latest windfall for the Tipperary-born engineer who is sellingl his engineering company STS Group to German giant the Dussmann Group.

An influential adviser to big investors in Glenveagh Properties has criticised the publicly-quoted homebuilder’s lucrative stock plan for its three top executives ahead of the company’s agm next week.

Fiat Chrysler is in advanced discussions to forge extensive ties with France’s Renault as the carmakers seek to join forces to tackle the structural challenges facing the global auto industry, according to multiple people informed on the talks.

More used cars will be imported from the UK this year than new cars sold in Ireland, a study from UCD’s Michael Smurfit graduate business school and the Marketing Institute of Ireland shows.

Irish cement maker Ecocem’s plan to build a €45 million mill in the US has ground to a halt after its partner in the project withdrew.

Cantillon reckons that with talk of a general election in the air, the pressure grows on Minister for Finance Paschal Donohoe to spend more – on housing, health and elsewhere.

In our personal finance coverage today, Fiona Reddan asks if your pensions fund needs some ‘rocket fuel’ in the form of additional contribuions, while Prionsias O’Mahony writes on how the fading memories of the financial crisis has implications for investors.

Finally, in her weekly media and marketing column, Laura Slattery laments the latest round of job cuts within Irish newspapers and the difficult outlook for print journalism.