Albert Manifold, the CEO of CRH, has announced his plan to sell company shares worth $20.8 million (€19 million), a move also mirrored by the company’s CFO on a smaller scale, as per the requirement of the New York Stock Exchange to provide advance notification on such decisions. Barry Whyte reports on the matter.
In other news, AIB’s stocks have seen an over 5% rise, finally surpassing its 2017 IPO pricing for the first time in more than half a decade. This financial boom is attributed to an increase in ECB interest rates and indifferent savers alongside the strongest financial performance the bank has seen, according to CEO Colin Hunt. In a movement to capitalise on this, AIB intends to purchase back an additional €1 billion of its shares from the State, a development reported by Joe Brennan.
Meanwhile, Michael O’Leary, head of Ryanair, is scheduled for a meeting with Transport Minister Eamon Ryan following a fortnight’s ongoing dispute regarding the passenger limit at Dublin Airport. Though the minister has previously claimed an inability to directly impact the airport’s planning process, O’Leary believes otherwise based on past experiences.
David Guinane, the ex-CEO of PTSB feels unjustly solely targetted over a Central Bank inquiry focused on an industry-wide tracker mortgage issue dating back 15 years, according to Joe Brennan.
The European Commission’s €1.8 billion fine on Apple has been a long time coming according to Karlin Lillington. However, she cautions not to underestimate its significance since it’s an indication of the EU’s growing regulatory assertiveness, signalling the end of the tech sector’s inadequate self-regulation that primarily benefited the corporations themselves.
Lastly, UK Chancellor Jeremy Hunt recently presented a largely unsurprising budget. However, it’s highlighted the Conservative government’s shift to an election-centric approach. Despite failing to deliver the expected income tax cuts, Mark Paul notes that the government has adopted one of the Labour Party’s main fiscal policies by terminating the tax relief system for “non-doms.”
Rivada Networks’ CEO, Declan Ganley, has requested a New York court to officially acknowledge the settlement of an extensive debt judgment through the transfer of Rivada shares, a value that profoundly overshadows the judgment. If this does not occur, journalist Barry Whyte reports that the mogul is requesting the judiciary to initiate an appraisal process for the assets traded so far.
Furthermore, the Central Bank has shared a draft paper on proposals for an enhanced consumer protection code. It covers several aspects including the treatment of vulnerable customers, digital financial services, and the transaction of regulated financial products.
In the field of Technology and Innovation, Chris Horn indicates apprehension about the Government’s intentions to drop the Science Foundation Ireland brand. This brand has been grown and nurtured meticulously over the past 25 years.
Additionally, Ciara O’Brien explores the implications of the new Digital Markets Act instated by the EU, clarifying what it signifies for consumers.
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