Mark Zuckerberg’s Dublin visit, AIB’s loan sale, and the hidden charges in many apps

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

 Mark Zuckerberg, the chief executive of Facebook, will visit Dublin today to meet with senior politicians, media and other stakeholders

Mark Zuckerberg, the chief executive of Facebook, will visit Dublin today to meet with senior politicians, media and other stakeholders

 

Facebook chief executive Mark Zuckerberg makes a flying visit to Dublin today. Over the afternoon the founder of the social network giant is expected to meet with senior politicians, media and other stakeholders to discuss their concerns about data privacy and content. It is understood he will also meet IDA Ireland and pop over to the company’s new campus, the former AIB Bank Centre in Ballsbridge.

Bank of Ireland has set aside a £27 million (€31.5 million) provision for potential future losses on its UK credit card portfolio, which it has put up for sale, according to the recently filed annual report of the group’s UK division.

Over at AIB, bosses are considering the sale of a final batch of problem loans later this year to allow it start releasing billions of euro of excess money on its balance sheet to shareholders, after it emerged on Monday that about 220 owner-occupier mortgages were included in its latest portfolio sale.

On the property front, housebuilder Cairn Homes is offering more than 280 apartments for sale to a single landlord buyer for €90 million. And investment company Hibernia Reit has made a tidy profit by selling 77 Sir John Rogerson’s Quay, which is fully let to International Workplace Group, for € 35.5 million. It bought the property in February last year for €28.7 million.

When it comes to household budgets, it’s the hidden charges that really hurt. From parking and tolls to parcel delivery and utilities, service providers have many hidden costs, as Fiona Reddan reveals in her personal finance feature this week.

Neil Woodford used to be described as Britain’s Warren Buffett. But lately investors have been deserting him and his value investing model. Prionsias O’Mahony assesses whether there is any value left in the strategy of buying cheaper stocks and steering clear of more fashionable ones.

Finally, Dominic Coyle answers a readers query on dealing with VAT and capital gains on a rental property.