Opening Bell: Aer Lingus on private terminals, IBEC's public pay warning, Oculus' €470m fined

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The head of Aer Lingus has argued that there is "no reason" why the State should continue to own terminals at airports.

Stephen Kavanagh told the Irish Independent that privatising terminals the likes of Dublin Airport could even help improve their efficiency.

"You can separate runways and terminals," he said. "I think runways are of such strategic importance, particularly for an open economy as Ireland is, that there continues to be a role for some regulatory or State involvement in runways."

With Terminal 2 already operating close to capacity and Transport Minister Shane Ross saying that his department would assess the pros and cons of a privately-owned third terminal, Kavanagh said that he was not "indifferent" to it being privately owned "as long as there's a competitive dynamic – either through regulation or the open market. Our ambition is to pay competitive prices for appropriate infrastructure."

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IBEC has warned that if the Government doesn't get a handle on public pensions, they will become unsustainable within a generation.

The business group said that public pay shouldn't be accelerated in excess of what already has been agreed.

It has outlined a number of proposals to the Commission on Public Service Pay and called for greater analysis of the pay and pensions premium that exists.

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Former Tánaiste Joan Burton wants the State to buy the famous Luggala Estate in County Wicklow.

The Guinness Family ancestral home has been put on the market with a suggested price tag of €28 million.

The Labour Party's Spokesperson on the Arts is worried that the 5,000 acre estate could be bought by a wealthy private investor and face a very uncertain future.

"That would be the fear: that someone would snap it up... then seek to close it off. That would be an enormous loss in terms of access to some of the most beautiful countryside - and the widlest and most rugged countryside – in Ireland. Not just to all of us in Ireland now but to future generations as well."

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Facebook's virtual reality subsidiary has been fined €463 million for violating intellectual property rights.

A court in the US ruled that the co-founders of Oculus infringed on ZeniMax Media's trademarks as they built their VR gear and software.

Facebook CEO Mark Zuckerberg has denied the firm stole any of its technology, while Oculus says it'll appeal.

Meanwhile, Facebook has revealed that revenues have risen by more than half in the last year, as the number of monthly users reaches 1.86 billion.

The technology giant, which also owns Instagram and WhatsApp, has brought in €25.6bn in the last year.