Pfizer pulls out of €140bn Irish Allergan merger

US drug maker Pfizer agreed on Tuesday to terminate its $160bn (€140bn) agreement to acquire Botox maker Allergan, in a major victory to US President Barack Obama’s drive to stop tax-dodging corporate mergers. The decision to end the biggest tax “inversion” ever attempted, which would have seen Pfizer slash its tax bill by redomiciling to […]

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Unemployment falls to eight-year low of 8.6%, CSO reveals

Figures suggest number of workers classified as unemployed fell by 2,900 last month Unemployment hit a new eight-year low of 8.6 per cent last month as conditions in the wider economy continue to pick up. The latest official figures show the number of workers classified as unemployed fell by 2,900 to 187,700 in March. The […]

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Irish services growth strengthens but exports hit four-year low

Growth in Ireland’s services strengthened in March, a survey showed on Tuesday, but new business from abroad expanded at the slowest pace in almost four years as weaker sterling affected some exporters. The Investec Purchasing Managers’ Index (PMI) of activity in services rose to 62.8 from 62.1 in February and back towards the 64.0 it […]

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Income tax and VAT fall below target in March

Income tax and VAT collections dropped below target in March but another surge in corporate tax payments helped bring the overall monthly return ahead of target. New figures also point to health overspending in March. Exchequer data for March presents a mixed picture, as the overall tax return in the first three months of the […]

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Irish food industry knows how to survive a Brexit

Sector highly dependent on UK market but we have the skills to respond appropriately When it comes to the idea of a British exit from the European Union (Brexit), there seems to be widespread fear among food industry leaders here. A recently published study by the London School of Economics concludes that Ireland will “suffer […]

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