Gloomy predictions from Davos, Ireland’s FDI declines, and Willie Walsh on Brexit

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An armed member of the Swiss police watches from the snow-covered roof of the Hotel Davos ahead of the World Economic Forum in Davos, Switzerland  on Monday. World leaders, influential executives, bankers and policy makers are attending the 49th annual WEF meeting, which runs until January 25th.  Photographer: Simon Dawson/Bloomberg

An armed member of the Swiss police watches from the snow-covered roof of the Hotel Davos ahead of the World Economic Forum in Davos, Switzerland on Monday. World leaders, influential executives, bankers and policy makers are attending the 49th annual WEF meeting, which runs until January 25th. Photographer: Simon Dawson/Bloomberg

 

Business chiefs are six times more pessimistic about the outlook for global growth than they were a year ago, according to a new survey published on the eve of global political leaders and chief executives gathering at the annual World Economic Forum in Davos, Switzerland. Joe Brennan reports from the Swiss alpine resort.

Large-scale repatriations of profits by US multinationals from the Republic of Ireland meant total foreign direct investment fell by $121 billion (€106 billion) last year. Charlie Taylor has the details from the latest UN report.

Redmayne Bentley, a UK stockbroking and investment management company, is to close its Irish operation at the end of the month, according to Fiona Reddan.

The EU and UK will agree a “comprehensive” pact allowing air travel after Brexit, according to Willie Walsh, chief executive of Aer Lingus owner, International Consolidated Airlines’ Group. Barry O’Halloran reports.

In her weekly media and marketing column, Laura Slattery notes how luck and timing are often crucial factors in the success a new film release.

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