Eir €300m payout, Dunnes’ potential pizza purchase and parental leave problems
Business Today: the best news, analysis and comment from The Irish Times business desk
Dunnes Stores is considering a move into premium pizzas, reports Mark Paul, with an approach to buy Dublin restaurant chain, Base Wood Fired Pizza
Two New York hedge funds look set to be the latest to receive a massive payday from Eir, which was forced to seek court protection from creditors in 2012. Joe Brennan writes that this latest move stokes unpleasant memories of a time when the Irish telco was treated as a glorfied ATM by some owners.
CRH has this morning reported a positive start to the year with first quarter like-for-like group sales up 7 per cent versus the same three months a year earlier. The company also confirmed plans to continue with its share buyback programme with a further tranche of up to €350 million to be completed before August.
Shares in Dublin-listed travel retail software provider Datalex will be suspended from May 1st as it misses a regulatory deadline to have full-year results published by the end of this month. Joe Brennan has the details.
Dunnes Stores is considering a move into premium pizzas, reports Mark Paul, with an approach to buy Dublin restaurant chain, Base Wood Fired Pizza. If a deal does go ahead, a buyout or some other form of partnership with Base would be seen as consistent with Dunnes’s recent strategic shift, to make its stores more upscale and “foodie.”
There is good news on the pensions front with data from the CSO showing workers are increasingly making provision for their pension in retirement. However, new entrants to the workforce are still slow to sign up.
In her column this week, Fiona Reddan assessses the Government’s plans for a new parental scheme. While welcoming the additional leave, she argues that for families who may already be down one partner’s salary, taking a further hit is just not financially feasible.
Finally, in our commercial property coverage, Ronald Quinlan reports that European property company LRC Group has bought a portfolio that includes 600 homes across Dublin, Cork and Galway, as well as a small number of commercial properties.