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British drug firm to become tax resident in Ireland
A BRITISH multinational has announced plans to shift its base to
Dublin to avail of the Republic's favourable corporate tax
regime. p
Shire Pharmaceuticals avails of McCreevy incentive measure
ANALYSIS: SHIRE PHARMACEUTICALS' decision to become a Republic of Ireland tax resident will not create any new jobs here, but it vindicates a measure introduced by Charlie McCreevy before he left for Europe. p
Tesco sales in Ireland increased by almost 10% last year
SUPERMARKET CHAIN Tesco increased sales in Ireland last year by
9.8 per cent to €2.99 billion. p
Other Stories
Northern bus-building group wins £125m contract
A NORTHERN Ireland bus-building group has won a £125 million (€155 million) contract to supply new vehicles to a leading UK and North American bus operator. pM&T Bank posts profit of $202m for first quarter
US BANK M&T, in which AIB has a 24 per cent stake, posted a profit of $202.2 million (€128 million) in the first three months of the year, up 15 per cent on a year earlier, as bad debt write-offs fell back from the levels of the final three months of 2007. pBrown seeks views of bank chiefs on solving credit squeeze crisis
BRITISH PRIME minister Gordon Brown met the chief executives of Barclays, HBOS, HSBC and Royal Bank of Scotland, as well as leading investment bankers from the City of London at Downing Street yesterday. The talks focused on possible solutions to the credit squeeze that has led to a sharp rise in financial instability. pDelta and Northwest reach deal
DELTA AIR Lines and Northwest Airlines emerged from months of merger talks with an accord expected to create the world's largest carrier, reshape the US aviation industry and spur rivals to pursue deals of their own. pBritish Airways dismisses two executives over T5 disaster
BRITISH AIRWAYS (BA) chief executive Willie Walsh yesterday shook up his senior management team in the wake of the Terminal 5 (T5) debacle at Heathrow airport with the dismissal of the two top executives responsible for the move. pLawsuit investment fund to open office in Dublin
THE WORLD'S biggest fund that invests in lawsuits will open an office in Dublin to finance litigation in Europe and benefit from an increase in lawsuits arising from the global credit crunch. pSmurfit Kappa gets rating upgrade as debt falls
SMURFIT KAPPA has had its debt rating upgraded by international agency Fitch on the back of the paper and packaging group's reduction in net debt to €3.4 billion from €4.8 billion in 2007. pDIT announces radical policy change on patents
IRELAND'S LARGEST third-level institution has announced a radical policy change on ownership of research discoveries. Dublin Institute of Technology students or faculty who make discoveries will from now on retain full ownership of the resultant intellectual property. pFour sued over €6m land deal
THREE BUSINESSMEN and a businesswoman are being sued over their alleged failure to complete a €6 million land deal in Co Leitrim. The proceedings were entered into the list of the Commercial Court this week by Mr Justice Peter Kelly. pT5 could be terminal for Walsh
LONDON BRIEFING: IF ONLY Willie Walsh could have acted with such ruthless efficiency a fortnight ago. In unceremoniously dumping the two senior executives responsible for the Terminal 5 shambles, the British Airways boss may well be hoping to draw a line under what has been one of the most damaging episodes in the company's history. pIseq slides despite gains in European markets
THE ISEQ found itself in negative territory again yesterday despite gains being made in most other European markets. The Irish market closed around 0.5 per cent weaker as it shed 32.73 points to 5,956.55, although volumes were generally light. pIn Short
A round-up of today's other stories in brief... p
