Opening Bell: Developers to meet in Croke Park, reaction to Longford job losses, Tesco thinks "crisis is over"

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Property developers have pledged to deliver 75,000 jobs and 25,000 homes annually if the Government puts a "supportive policy framework" in place. 

The Irish Independent reports that it will be revealed that infrastructure projects worth €26 billion can be delivered over the next decade at a Croke Park meeting today.

Housing Minister Simon Coveney and Public Expenditure Minister Paschal Donohoe are also set to be in attendance.

Michael Stone, president of the Construction Industry Federation (CIF), will state during his keynote address:

"Construction is critical to this country's growth and job creation. For every 10 jobs in construction, another four are created in directly – meaning we support over 190,000 jobs in Ireland in communities throughout the country."


Local deputies are calling on the Government, IDA and Enterprise Ireland to come to Longford's assistance following the loss of 170 jobs in the town.

Staff at Cameron found out yesterday that the company will close its manufacturing operations by Christmas, blaming a downturn in the global oil and gas sector.

Peter Burke, the local Fine Gael deputy for Longford and Westmeath, has confirmed he is due to meet privately with Jobs Minister Mary Mitchell O'Connell this morning.

He's also spoken with Social Protection Minister Leo Varadkar and representatives of the IDA and Enterprise Ireland.

Labour deputy for Longford-Westmeath, Willie Penrose, has expressed solidarity with workers, saying efforts must be made to ensure that job losses are minimised, and that those whose jobs are under threat are given the help they need to find new employment as soon as possible.



The Minister of Finance will face the Public Accounts Committee today over NAMA's sale of Project Eagle.

Michael Noonan will be asked if the portfolio of properties in the North was sold for well below its potential price.

A report by the Comptroller and Auditor General (C&AG) found the taxpayer could have missed out on more than €200 million through the deal.


Tesco's chief executive Dave Lewis has declared that they "think the crisis is over" as the retail giant reported strong sales growth in the UK and all of its other divisions for the first six months of its financial year.

The interim results caused Tesco shares to soar over 13%, just a year after it recorded the biggest loss in British corporate history.

Sales in Britain have risen 0.6%, with group sales climbing 1%. Tesco's like-for-like sales in Ireland rose 0.2% in the period to €1.22bn.