Kerry taps Goldman Sachs; Tullow CEO resigns; and Mainstream in play
Business Today: the best news, analysis and comment from The Irish Times business desk
Kerry may soon usurp CRH as the Iseq index’s heavyweight
Kerry Group has turned to Wall Street giant Goldman Sachs to help it seal what would be the largest deal carried out by an Iseq-listed company – and one that would see it usurp CRH as the index heavyweight. Joe Brennan has the details on what would be a landmark nutritions deal.
Tullow Oil’s chief executive Paul McDade and its exploration director Angus McCoss have both resigned with immediate effect, the explorer has said. The company said the process to find a new chief executive is underway as it also announced revised guidance for 2020 and suspended its dividend.
Takeover bids from Big Oil for renewables group Mainstream are likely after it begins looking for equity investment to fund ambitious construction plans in emerging economics, writes Joe. That could mean a big payday for founder and majority stakeholder Eddie O’Connor, as well as management and a group of Davy high net worth investors - if they are willing to sell.
Trials of new drugs for lymphoma, testicular cancer and endometrial cancer have been unable to open in Ireland because of a cut in funding for cancer research, the Government has been told.
Activity in the housebuilding industrycontacted in the Republic in November for the first time since 2013, the year home prices reached a low point following the property crash, according to an Ulster Bank survey, reports Joe Brennan.
Ireland’s largest independently owned travel company, Club Travel has bought one of its main rivals, third-ranked Atlas, writes Gordon Deegan. Club is the Government’s travel agent while Atlas has a strong presence in the corporate market, especially among some of the leading US multinationals.
There are lots of reasons to admire forthright feedback at work, writes Pilita Clark. The trouble is, too many of us do it too poorly – with poor body language or unhelpful vague comments leaving people frustrated and resentful.
UK voters face a choice between two horrors this week, writes Chris Johns. And, if Boris Johnson wins, as the polls suggest he will, the unlikely Tory alliance of the “left behind” and the rich means one or the other is likely to be sadly disappointed in the outcome on Brexit and the other policy choices of the next British government.