Perrigo’s €300m tax deal, Web Summit’s lawsuit, and save on your energy bills

Over the counter drugs company Perrigo has settled the largest tax bill ever issued by the Revenue Commissioners for a sum just under €300 million. The figure is just a fraction of the €1.64 billion bill the Revenue initially levied against the company which is headquartered in Ireland but operates out of the small Michigan town of Allegan. Dominic Coyle has the details.

Paddy Cosgrave's Web Summit has filed a legal action in the United States against two former business partners, alleging that they 'covertly' left Cosgrave and the company out of a venture fund. The claims are strongly denied by David Kelly and Patrick Murphy. Mark Hilliard reports.

In Net Results, Karlin Lillington argues that the oversight of GDPR rules in the EU needs reform if they are to be truly impactful in dealing with Big Tech.

With gas prices soaring, Ciara O'Brien looks at ways to involve some smart technologies to minimise your energy bills in our weekly tech feature.

Perrigo agrees €300m settlement of €1.64bn tax assessment

---

Ways to save on energy bills as prices rise ahead of the long winter

---

Gut health-related supplement aims to boost chances of pregnancy

---

Ireland is a ‘GDPR bottleneck’ that lets big tech off the hook

---

Crunch negotiations are under way on a key part of the text of an international tax plan whichthat has so far been opposed by Irelandthe State. It comes amid indications that many of the other countries involved in the OECD talks would support setting the new global minimum rate at 15 per cent. However, the key issue will be finding a form of wording to which the bulk of the 140 negotiating countries will sign up. Jack Horgan Jones and Cliff Taylor have the details.

ESB Networks is to decarbonise Ireland's power distribution network by 2030, which will coincide with big changes in how electricity customers consume and store electricity, it has announced, writes Kevin O'Sullivan.

Whoop, a US developer of wearable fitness trackers which was recently valued at $3.6 billion (€3.09 billion), is to create more than 50 jobs in Dublin with the opening of a new office. Charlie Taylor reports.

Minister for Finance Paschal Donohoe is planning to conduct a broad review of the banking market but is there any political appetite to grasp the nettle on thorny issues like bankers pay, rules on capital and repossessions? Cantillon thinks not.

Our New Innovator is Deborah Brock, the founder of Nua Fertility, a health supplements start-up focused on helping women to conceive. Olive Keogh tells her story.

Stay up to date with all our business news: sign up to our business news alerts.