Opening Bell: Panama Paper firm raided, Michael O'Leary considers with future, job growth stalls

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Police have raided the Panamanian law firm whose leaked papers revealed how the world's wealthy and powerful used offshore companies to stash assets and avoid tax.

An organised crime unit was involved in the raid at Mossack Fonseca.

The findings from the Panama Papers have had repercussions around the world - including the resignation of Iceland's prime minister.

It comes as tax officials from all over the world - including Revenue Commissioners - meet in Paris today to discuss how to respond to the controversy.

The Irish Times says it will not agree to a request by Revenue for copies of documents which appear to have an Irish link.


Ryanair chief executive Michael O'Leary says that there is a 50/50 chance that he will reitre after his current five-year contract ends in 2019.

"I'll only stay if the board wants me to stay. I'm not wedded to this place that I want to stay here until I'm 75," Mr O'Leary said yesterday.

"We have succession plans both for me and all the other senior managers on an ongoing basis," he added.

The airline launched the next phase of its "always getting better" campaign in Dublin yesterday, it promises more leg room and less yellow inside its aircrafts. There will also be just six different prices for bags, instead of the current 108.


The level of job creation in Ireland is out-of-line with economic growth according to the recruitment firm Morgan McKinley's employment monitor which says that job seekers are chasing almost the same number of jobs that they were 12 months ago.

At close to 37,000 the number of jobs available during the first three months of 2016 was slightly below the same period last year.

Meanwhile, the number of professionals looking for jobs increased by 4%, growing to 23,140.

IT, engineering, supply chain and multilingual candidates were the most sought after during the quarter.


In England, major Conservative party donors are reportedly funding a grassroots campaign to leave the European Union.

It follows Prime Minister David Cameron's decision to spend more than £9m on a pro-EU leaflet.

The International Monetary Fund says the British economy is already suffering as a result of uncertainty around the referendum result.

But British Cabinet minister Chris Grayling, who's backing the exit campaign, is defending his stance: