TRADE UNIONS threatened to throw the dummy out of the pram last week by trying to head off the planned extension and expansion of the Business Expansion Scheme announced by Brian Cowen in his most recent budget. ICTU said the scheme was just another way of avoiding tax. On Friday, Enterprise Ireland said the scheme was essential to stimulate investment in startup companies.
BUPA PLAYS HAMLET They're staying, they're going, oh this too too solid flesh. . . health insurer Bupa followed up its announcement that it would leave Ireland by on Wednesday saying it would appeal the decision upholding risk equalisation by the High Court to the Supreme Court. It added that even if it won it was still leaving the market and taking its ball with it.
ONE-ARMED ECONOMISTS of the sort politicians tired of 'on the one hand, on the other hand' economics always say they want can be found aplenty - at the ESRI, where you can be sure that any signs of strong growth will be treated like a case of the Ebola virus. GNP grew by 5.4% and GDP by 7.7% in the last quarter - clearly bad news if you believe the dismal scientists.
TIGER LIONISES BEAR, OH MY On the other hand, evidence of Irish and wider European vulnerability on energy was reinforced by the Russian bear growling to get western "rms Shell and BP out of the energy exploration game in Russia and award projects to Russian companies.
BLACK, WHITE AND READ ALL OVER Independent News & Media forecast continued double-digit earnings growth in a Friday morning trading statement and predicted a full-year operating margin of 20%.
SOLID FOUNDATIONS CRH said on Thursday it would invest Euro200m in modernising its cement factory near Drogheda to increase its capacity from around 2m tonnes to 2.8m tonnes. The plant would be more energy efficient and would mean CRH wouldn't have to continue to import cement -- which also means CRH expects the Irish construction boom to continue indefinitely.
THE WEEK AHEAD -Markets closed and businesspeople scarce most of the week. The diary will return next week.
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