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Business News

Tesla plans to cut 9pc of workforce, says Musk

14th June 2018

Elon Musk’s electric car maker Tesla is cutting about 9pc of its workforce, Mr Musk said yesterday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan. Tweeting pictures of an email he said had been leaked to media, Mr Musk said that the cuts were […]

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Tesla plans to cut 9pc of workforce, says Musk

14th June 2018

Elon Musk’s electric car maker Tesla is cutting about 9pc of its workforce, Mr Musk said yesterday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan. Tweeting pictures of an email he said had been leaked to media, Mr Musk said that the cuts were […]

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‘Do you have that fiver for me?’ – PayPal gets personal in new push

14th June 2018

We’ve all been there – a tenner borrowed here, a fiver owed there. It can be hard to keep track when you owe it – and mortifying to have to ask for it back when you don’t. Digital payments giant PayPal thinks it has the answer. It is throwing down the gauntlet by scrapping fees […]

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‘Do you have that fiver for me?’ – PayPal gets personal in new push

14th June 2018

We’ve all been there – a tenner borrowed here, a fiver owed there. It can be hard to keep track when you owe it – and mortifying to have to ask for it back when you don’t. Digital payments giant PayPal thinks it has the answer. It is throwing down the gauntlet by scrapping fees […]

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Irish Ferries to take further hit of €4m – €5m from ship delay

13th June 2018

The announcement from Irish Ferries operator ICG of another delay to the delivery of the W.B. Yeats ship is set to hit earnings at the company by a further €4m – €5m, according to Davy analysts. The group had already taken a hit of €2.5m in lost revenue from cancellations announced earlier this year. On […]

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Malin hits a new all-time low with State down 30pc

13th June 2018

Shares in State-backed Malin hit an all-time low yesterday to leave taxpayers nursing a loss of 30pc on the initial investment. Malin’s shares lost 3.45pc in trading yesterday to close at €7, and at one stage plunged below €7 for the first time to hit €6.60. The State’s Ireland Strategic Investment Fund (ISIF) invested €50m […]

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Bank of Ireland overhaul bill soars to €1.4bn

13th June 2018

Bank of Ireland will pump an extra €500m into an annual “transformation programme” aimed at improving its business systems and overhauling its software platform as the lender attempts to reduce costs and drive efficiencies over the next three years. The additional cash brings the total investment outlay from 2016-2021 to €1.4bn. According to a much […]

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Dollar rise as Trump and Kim sign ‘comprehensive’ document at landmark summit

12th June 2018

The dollar hovered near 3-week highs on Tuesday and Asian shares gained as US President Donald Trump and North Korean leader Kim Jong Un signed a ‘comprehensive’ deal at a historic summit aimed at the denuclearisation of the Korean peninsula. Trump said the process of denuclearisation would happen “very, very quickly”, adding he had formed […]

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Three investment mistakes to avoid when building your portfolio

12th June 2018

Even the world’s most successful investors admit they sometimes get it wrong. In a recent Time Money article, John Bogle, founder and former CEO of the US investment firm, The Vanguard Group, claimed that one of his biggest mistakes was buying individual stocks for about a dozen years in the 50s and 60s, before he […]

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ESB plots massive Scottish windfarm

12th June 2018

The ESB has unveiled plans for a massive 91 megawatt windfarm in Scotland. The State-owned electricity business has formed a partnership with wind developer Coriolis Energy and the companies are working on a number of projects in that country. Renewables trade publication ‘ReNews’ said the ESB has kicked off a scoping process for the farm, […]

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