A former member of the Committee of Public Accounts (PAC), the Dáil’s State spending watchdog, has asked it to investigate the payment of taxpayer-funded Covid supports to businesses that subsequently distributed cash to shareholders in the form of dividends, the Irish Times reported.
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Manufacturing activity in the euro zone remained resilient at the end of 2021 as factories took advantage of an easing in supply chain bottlenecks and stocked up on raw materials at a record pace, a survey showed, Reuters reported. The global coronavirus pandemic had left factories struggling to get the materials they need and sent costs soaring, but a tentative easing of the supply issues led to a marked decrease in price pressures.
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For 12 months, British businesses have been confronting the reality of the country’s decision to distance itself from its largest trading partner. Initially, the new system collapsed: Perishable goods got stuck at ports, retailers discovered their supply chains were obsolete and trucking companies stopped delivering to the whole island of Ireland. The worst of the problems (outside of Northern Ireland) eased after a few months. But what remains is a frustrating regime of higher costs, time-consuming customs paperwork and countless lost opportunities, the New York Times reported.
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The British government has asked public sector managers to test their contingency plans against a worst-case scenario of 25% staff absence as part of efforts to minimise disruption from the rapid spread of the Omicron variant of COVID-19, Reuters reported. With daily infection numbers at a record high and people who test positive required to self-isolate for at least seven days, the government expects businesses and public services to face disruption in the coming weeks, it said in a statement.
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The new German government will offer tax relief to individuals and companies worth at least 30 billion euros ($34.1 billion) in this legislative period, Finance Minister Christian Lindner was quoted as saying on Sunday, Reuters reported. "We will relieve people and small and medium-sized businesses by significantly more than 30 billion euros," Lindner told the Bild am Sonntag newspaper.
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It was announced last week that an agreement between Barcelona and Man City regarding the transfer of Torres and now the deal is complete, Cheraw Chronicle reported. The original will be presented at the Camp Nou. Torres broke through against Valencia and marked the summer 2020 move to City. The English superpower has noticed the Spain international 22 times, despite suffering a foot injury since October. In Manchester he was good at scoring 16 goals. Barcelona are only seventh in La Liga and have failed to survive the Champions League group stage for the first time since 2000.
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On the southern Mediterranean coast, nestled in the shadow of the Rock’s sheer limestone cliffs and its tangle of wild olive trees, the Gibraltar Stock Exchange (GSX) is quietly preparing for a corporate takeover that could have global consequences for the former naval garrison, The Guardian reported.
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The Italian Sea Group, a megayacht builder based near La Spezia, has purchased the assets of sailing yacht builder Perini Navi at bankruptcy auction for $80 million, The Maritime Executive reported. The auction award includes Perini Navi's shipyards in Viareggio and La Spezia, one incomplete newbuild project under construction, a building complex in Pisa, and all IP and business relationships. The firm has already acquired two additional Perini Navi vessel projects under construction and is completing them at its NCA Refit division.
The European Union's relationship with Switzerland could fall apart if negotiations over Switzerland's place in the EU internal market fail, European Commission Vice President Maros Sefcovic said, Reuters reported. Brussels has pushed for years for a treaty to cap an array of bilateral accords and require the Swiss to routinely adopt changes to single market rules. Talks between Bern and its biggest trading partner broke off in May over concerns about yielding too much sovereignty to the bloc.
A former sales executive found guilty of involvement in a Unaoil Group-linked bribery scheme has appealed his conviction at a London court, arguing the U.K.’s Serious Fraud Office failed to disclose secret communications between agency officials and a private investigator for other individuals implicated in the wrongdoing, the Wall Street Journal reported. Paul Bond, a former sales manager for Unaoil client SBM Offshore, said the SFO “fundamentally failed to comply” with its duty to disclose evidence and stopped him from receiving a fair trial. Mr.