In the news: Arnotts’ bumper year and Clare crematorium
Seen and Heard: Citi prepares to move 900 jobs to Dublin; no January sales in TVs for UK
Arnotts has enjoyed a bumper year. Photograph: Dara Mac Dónaill
Arnotts, according to the Sunday Independent, has staged a turnaround with revenues jumping by almost 11 per cent in the year to January 2016. For the last three months of the period, the store was under the ownership of the Selfrdiges Group, which is owned by Galen and Hilary Weston.Turnover approached €72 million up from €65 million, according to accounts.
Elsewhere in the Independent it is reported that work has begun on a crematorium in Clare which is raising €1.2 million from a business expansion scheme and is projecting revenues of €1 million by 2020.
The Sunday Times reports that Citigroup is preparing to move up to 900 jobs from London to Dublin as part of the financial services giant’s planning for Brexit.
Investment sources said the bank was working on a “project of substance” for Dublin and was exploring its options for office space.
The Times also reports that Séan Quinn Jr, the son of former billionaire Séan Quinn, has filed a court case against his former employers, Quinn Insurance.
It is understood that the former director of Quinn Insurance , which is now in administration, has taken the case claiming unpaid bonuses.
In the Sunday Business Post it is reported that Minister for Health Simon Harris has sought a review of the payments by the pharmaceutical industry to doctors and public hospitals.
Elsewhere it reports that a special purpose vehicle used to control hundreds of millions of euro worth of toxic Irish property debt paid just €250 in tax last year on revenues of €64, 879, 428.
The company, Pentire Property Finance, is a subsidiary of CarVal, the multibillion euro US private equity giant.
According to the Sunday Telegraph there will be little value for bargainhunters in the post-Christmas sales of electrical goods as the biggest retailers are considering price rises to compensate for the weaker pound due to Brexit.