Euronext Dublin, aka the Irish Stock Exchange, plans to launch a “springboard” market for start-ups and fast-growing small to medium-sized businesses to halt the erosion of its equity franchise, the Sunday Times reports.
The move is part of a bid to revive the Republic’s equity market following the defections of big companies including building materials giant CRH, Paddy Power owner Flutter Entertainment and box maker Smurfit Kappa, says the newspaper.
The new market, to be called Euronext Access, will debut by the end of the year with lighter regulations for companies seeking public capital but which do not meet the criteria for entry to the main market.
US airlines push for more slots at Dublin Airport
The Republic could face pressure from the US government over the Dublin Airport cap, according to the Business Post. A research note to investors from British bank Barclays claims the US Department of Transportation could intervene after big US airlines were denied slots for the winter, the paper reports.
The Irish Aviation Authority in May limited airlines operating at Dublin to 14.4 million passengers from October 27th next to March 29th to comply with an overall planning condition restricting the airport to 32 million a year.
The Business Post notes that Barclays’ statement follows a report showing that “less than 3 per cent of requests by airlines for new slots at Dublin Airport this winter have been allocated”.
Star-backed fast food chain sets sights on Ireland
Dave’s Hot Chicken, the fast food chain backed by movie star Samuel L Jackson and rapper Drake, is eyeing the Republic as part of its expansion, the Sunday Independent writes.
The chain, which launched in 2017, is the fastest-growing fast food business in the US. It plans to open 60 outlets in the Republic and in the UK. The business told the Sunday Independent that Ireland was part of the plan, but it was too early to say how many restaurants it would open.
New microbrewery planned for Glasnevin
Cork brewer Stephen Guiney and Dublin publicans Noel Andersen and David Chawke plan to open a microbrewery near the Royal Canal in Glasnevin, on the capital’s northside, according to a report in the Sunday Times.
A business whose backers include the trio, Changing Times Beverage Company, has sought planning permission from Dublin City Council to build a 539sq m brewery in a warehouse owned by a subsidiary of Noel Keating’s Kepak group, it writes.
Demand for oil to peak in 2025, says BP
British oil giant BP has predicted that global demand for the fossil fuel largely blamed for climate change will peak next year, according to the Observer, bringing to an end rising global carbon dioxide emissions amid a surge in wind and solar power. BP’s influential outlook concluded that oil use would increase over the course of 2025 to peak at about 102 million barrels a day.
