Smurfit Kappa shareholder, Ryanair talks, and a new store for Lidl

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

Anthony Smurfit CEO (left) of Smurfit Kappa Group, and Liam O’Mahony, chairman, pictured at the company AGM in Dublin earlier this year.

Anthony Smurfit CEO (left) of Smurfit Kappa Group, and Liam O’Mahony, chairman, pictured at the company AGM in Dublin earlier this year.

 

Our lead story this morning concerns packaging giant Smurfit Kappa where a major shareholder that was a thorn in the side of management earlier this year as it refused to engage with would-be suitor International Paper has sold down its stake.

Over at Ryanair, talks aimed at ending a dispute between the airline and a group of its Irish pilots enters its final day of planned talks today under mediator Kieran Mulvey. Ryanair and the Irish Airline Pilots’ Association, part of trade union Fórsa, this week resumed efforts to end the month-old dispute, which has led to five one-day strikes at the company, the latest one last Friday.

Low cost shopping chain Lidl expects to open a store on the site of the old Belgard Inn in west Dublin by spring next year, in a development that is set to incorporate a new pub. Demolition contractors recently moved on to the site, which Lidl bought for about €2.6 million towards the end of the recession in 2013.

In international news, leading Turkish business groups have called on Ankara to introdce a range of measures in response to a currency crisis that has battered the lira. The move was a rare show of public dissent from Turkey’s corporate sector, since many business figures are reluctant to openly challenge the government of President Recep Tayyip Erdogan.

Finally, Cliff Taylor asks in his column this morning whether we can finally escape the old house price roller coaster of sharp and destabilising ups and downs – but concludes that you wouldn’t bet on it.

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