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Last Updated:
May 21, 2013 - 3:24 PM |
News
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Irish Economy
Apple has special Irish tax rates; 'Stateless' companies based in Ireland
Apple Inc. used Irish companies, which it regarded as 'stateless,' to avoid paying corporate taxes to any national government on tens of billions of dollars in overseas income over a period of four years, according to a report published by a US Senate panel on Monday. However, even though stateless, the Apple companies have secret agreements with Ireland's revenue authorities to also partly operate as resident companies and be subject to corporate tax rates of 2% or lower.
May 21, 2013 - 6:50 AM
News
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Innovation
Royalty Pharma increases bid for Elan
Royalty Pharma, the US pharmaceutical royalty/ shell company on Monday increased its offer for Elan Corporation plc the former Irish drugs firm turned royalty/ cash shell to $12.50 per share in cash.
May 21, 2013 - 3:22 PM
News
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International
Markets: Greencore reports 6% rise in half-year profits; Glanbia's chief to retire
Markets news on stocks, currencies: Greencore report 6% rise in half-year profits; Glanbia's chief to retire.
May 21, 2013 - 12:56 PM
News
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Irish
Tuesday Newspaper Review - Irish Business News and International Stories - - May 21, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 21, 2013 - 9:37 AM
News
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International
Markets: Elan tries to assure market that it's more than shell operation
Markets news on stocks, currencies and commodities: Elan tries to assure market that it's more than a shell operation.
May 20, 2013 - 3:00 PM
News
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EU Economy
Google’s chief supports corporate tax reform
Eric Schmidt, Google’s executive chairman, on Sunday gave support to corporate tax reform - - quite a change from last December when he dismissed critics of tax avoidance.
May 20, 2013 - 9:18 AM
News
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Irish
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m - - up 13%
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m, up 13% on last year despite higher oil costs. Revenues rose to €4.88bn as traffic grew 5% to 79.3m passengers. Unit costs rose 8% mainly due to an 18% (€292m) increase in fuel. Excluding fuel unit costs rose by 3%, while average fares improved by 6%.
May 20, 2013 - 9:01 AM
News
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Innovation
Yahoo! expected to announce acquisition of Tumblr for $1.1bn
Yahoo! is expected to announce Monday the acquisition of Tumblr, the blog platform site, for $1.1bn.
May 20, 2013 - 8:29 AM
News
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Irish
Monday Newspaper Review - Irish Business News and International Stories - - May 20, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 20, 2013 - 7:04 AM
News
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Irish Economy
The Irish Times: Timidity in turbulent economic times
The current editor of The Irish Times terms his daily publication "a newspaper of reference," in place of the label "newspaper of record," which has been made redundant in the Internet age. However, while the appetite to take on the forces of social conservatism remains, the newspaper has been timid in these turbulent economic times when spin and permanent publicity campaigns at government level, mask the bitter truth that beyond the financial crisis fire-fighting, there are currently no credible economic policies in place to put the Irish economy on a sustainable basis.
May 19, 2013 - 11:53 AM
News
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EU Economy
EU market of new cars grew in April for first time since September 2011
In April, the EU market of new passenger cars grew for the first time (+1.7%) since September 2011, according to the European Automobile Manufacturers' Association (ACEA - - Association des Constructeurs Europeens d'Áutomobiles).
May 17, 2013 - 2:50 PM
News
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International
Markets: Dell's earnings tumble in latest quarter
Markets news on stocks, currencies and commodities: Dell's earnings tumble in latest quarter.
May 17, 2013 - 12:09 PM
News
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Irish
Friday Newspaper Review - - Irish Business News - - May 17, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 17, 2013 - 10:44 AM
News
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Innovation
Apple's CEO to testify at US Senate hearing on tax
Apple is the target of a Senate hearing next week investigating offshore tax practices. Tim Cook, Apple CEO, is expected to testify at the Senate Permanent Subcommittee on Investigation's hearing Tuesday, according to Politico, the US politics website.
May 17, 2013 - 9:33 AM
Asia Economy
Wages in China rose sharply in 2012
Wages in China continued to rise at a double-digit rate in 2012 despite a slowing of the economy.
May 17, 2013 - 9:03 AM
News
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Innovation
Facebook's shares down 31% - - one year after IPO
Facebook's shares closed down 31% Thursday one year after its IPO (initial public offering). It's not alone despite market benchmarks hitting records in recent weeks.
May 17, 2013 - 8:28 AM
News
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Global Economy
Developing world's share of global investment to triple by 2030
Seventeen years from now, half the global stock of capital, totaling $158ttn (in 2010 dollars), will reside in the developing world, compared to less than one-third today, with countries in East Asia and Latin America accounting for the largest shares of this stock, says the latest edition of the World Bank's Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades. With gradual convergence, the contribution of developing countries to global growth will rise from 73% around 2015 to 87% by 2030; with rapid convergence, developing countries’ contribution will reach 93% by the end of the period.
May 17, 2013 - 7:58 AM
News
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Irish Economy
Irish Economy 2013: Goods exports rose in March but fell in 12-month period
Irish Economy 2013: Goods exports rose in the month of March but fell in the 12 month period from March 2012, according to the CSO today.
May 16, 2013 - 2:47 PM
News
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International
Markets: Glanbia, UTV Media and KBC Bank Ireland issue reports
Markets news on stocks, currencies and commodities: Glanbia, UTV Media and KBC Bank Ireland issue reports.
May 16, 2013 - 2:23 PM
News
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Irish
Thursday Newspaper Review - Irish Business News and International Stories - - May 16, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 16, 2013 - 10:52 AM
Asia Economy
Japan reports strong first quarter growth
Japan today reported strong first quarter growth with a rise in consumer spending and exports signalling that the aggressive monetary policies of Shinzo Abe, prime minister, have boosted confidence and may have a sustained impact on the economy.
May 16, 2013 - 9:03 AM
News
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Irish Economy
Irish Economy: ESRI in grim outlook; Revises down previous GNP estimates
Irish Economy: The ESRI (Economic and Social Research Institute), the publicly-funded independent think-tank, today forecasts GDP (gross domestic product) growth of 1.8% in 2013 and 2.7% in 2014, but behind the headline figures is a grim outlook with a reliance on tax-related services exports, emigration and an acknowledgement that research shows the economy contracted more in recent years than was suggested by the official data.
May 16, 2013 - 6:26 AM
News
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Irish Economy
ESRI's FitzGerald says Irish GNP and Current Account surplus overstated
John FitzGerald, a research professor at the ESRI (Economic and social Research Institute), says in a paper published today that GNP (gross national product) and the Current Account surplus have been overstated by the rise in large mainly US companies transferring headquarters to Ireland while having most of their operations overseas.
May 16, 2013 - 4:54 AM
News
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UK Economy
Bank of England upgrades economic forecast; Jobless rises 15,000 in Q1 2013
The Bank of England has upgraded its economic growth forecast and said that
inflation should fall faster than previously predicted.
In his last inflation report as the Bank's governor, Sir Mervyn King said
inflation should drop to its target of 2% within two years.
Separate figures today showed UK unemployment rose by 15,000 in the first three months
of the year to 2.52m but the number of people claiming Jobseeker's Allowance
fell by 7,300 last month to 1.52m, the figures from the Office for National
Statistics (ONS) showed.
May 15, 2013 - 3:16 PM
News
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International
Markets: C&C reports full-year results; FBD issues trading update
Markets news on stocks, currencies and commodities: C&C reports full-year results; FBD issues trading update.
May 15, 2013 - 11:55 AM
News
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EU Economy
Eurozone and EU27 remained in recession in Q1 2013
GDP (gross domestic product) fell by 0.2% in the Eurozone (EA17) and by 0.1% in the EU27 during the first quarter of 2013, compared with the previous quarter, according to a flash estimates published today by Eurostat, the statistics office of the European Union. In the fourth quarter of 2012, growth rates were -0.6% and -0.5% respectively. So with consecutive quarterly falls in both zones, they remain in recession.
May 15, 2013 - 10:15 AM
News
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EU Economy
German GDP rose slightly in Q1 of 2013; France returned to recession
German GDP (gross domestic product) rose slightly in the first quarter (Q1) of 2013 according to Destatis, the federal statistics office today. Also today, INSEE (Institut National de la Statistique et des Études Économiques), France's national statistics office, reported that GDP in volume terms decreased again: –0.2% after –0.2% in Q4 2012. It is the third decrease in the last four quarters and signals a return to recession after four years, following two successive quarterly contractions.
May 15, 2013 - 9:39 AM
News
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Irish Economy
Irish farmers hugely dependent on EU welfare after 40 years
Irish farmers are hugely dependent on EU welfare 40 years after Ireland joined the then European Economic Community in 1973.
May 15, 2013 - 8:38 AM
News
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Global Economy
Growing risk of inequality and poverty as crisis hits the poor hardest says OECD
Income inequality increased by more in the first three years of the crisis to the end of 2010 than it had in the previous twelve years, before factoring in the effect of taxes and transfers on income, according to new OECD data.
May 15, 2013 - 7:59 AM
News
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Irish
Wednesday Newspaper Review - Irish Business News and International Stories - - May 15, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 15, 2013 - 6:54 AM
News
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EU Economy
Eurozone industrial production rose 1% in month of March 2013
In month of March 201, seasonally adjusted industrial production grew by 1.0% in the Eurozone (EA17) and by 0.9% in the EU27 according to estimates released by Eurostat, the statistics office of the European Union. In February production increased by 0.3% in both zones.
May 14, 2013 - 2:46 PM
News
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EU Economy
ZEW Indicator of Economic Sentiment for Germany unchanged in May 2013
After a sharp decline last month, the ZEW Indicator of Economic Sentiment for Germany has moved sideways in May 2013. The indicator has gained 0.1 points compared to the previous month and is now hovering at the 36.4 points-mark.
May 14, 2013 - 2:27 PM
News
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International
Markets: DCC, Paddy Power, Grafton & ICG issue reports
Markets news on stocks, currencies and commodities: DCC, Paddy Power, Grafton & ICG issue reports.
May 14, 2013 - 2:21 PM
News
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Irish Economy
Irish Financial Crisis: Young households 'dramatically' cut consumption compared older ones
Young households in Ireland 'dramatically' cut consumption after the onset of the financial crisis according to research published today by the Economic and Social Research Institute. The research shows 'that this drop in consumption stands in contrast to the experience of older households, whose average expenditure did not decline.'
May 14, 2013 - 12:06 PM
News
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Irish
Tuesday Newspaper Review - Irish Business News and International Stories - - May 14, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 14, 2013 - 10:29 AM
News
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EU Economy
Growth, debt and inflation in US and Europe
Growth and inflation have in the past been the main routes to reducing debt but in Europe growth was high when debt was last low and even inflation is not the tool it once was for relatively prudent countries. For example, France last had an annual budget surplus in 1974 and every year from 1975 to 2013, the national debt grew. It was at 22% of GDP (gross domestic product) in 1975; 64% in 2006; 82% in 2010; 86% in 2011; the IMF expects the ratio to be 93% in 2013.
May 14, 2013 - 8:47 AM
News
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Innovation
Elan: Most valuable Irish firm becomes cash/ royalty shell
Elan, the commonly referred to 'Irish drugs firm,' that was the most valuable Irish public company in 2001 has joined surviving banks as a shadow of its former self. It has effectively shrunk itself to a royalty/ cash investment shell but it maintains its corporate headquarters in Ireland to avail of the favourable tax benefits.
May 14, 2013 - 5:48 AM
News
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International
Markets: The end of the bond market bubble?
Markets news on stocks, currencies and commodities: The end of the bond market bubble?
May 13, 2013 - 11:30 AM
News
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Irish
Monday Newspaper Review - Irish Business News and International Stories - - May 13, 2013
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 13, 2013 - 9:32 AM
News
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EU Economy
Germany's more than 1,300 'Hidden Champions'
There were roughly 3.7m companies in Germany in 2010, more than 99% of them classified as the German 'Mittelstand' - - small and medium size enterprises. Over 1,300 are classified as 'Hidden Champions.'
May 13, 2013 - 8:56 AM
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