Opening Bell: Kraft Heinz pulls Unilever bid, Bank of America's Irish plans, stalling on Brexit

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US food company Kraft Heinz has walked away from a $143bn merger deal with Unilever after details of the proposed deal were made public last week.

The takeover would have created the world's second largest consumer goods group, after Nestle.

"Interest was made public at an extremely early stage. Our intention was to proceed on a friendly basis, but it was made clear Unilever did not wish to pursue a transaction," Kraft Heinz said in a statement.


Bank of America is reported to be preparing to create 100 news jobs in Ireland.

The Irish Times reports that it briefed Irish Government officials on its plans to expand its Irish technology and operations hub.

The company has not commented on this report.

It would bring the US firm's total Irish workforce to more than 700.


Brexit talks could take longer than the UK has expected as The Financial Times reports that the EU's negotiating team expects to spend almost all of 2017 negotiating the financial terms of the UK's exit.

This would kill British hopes of a fast-track trade deal being negotiated. It could face an exit bill of up to €60bn.

The UK's negotiating team believes that Brexit talks on the exit and the terms of future deals should happen at the same time.

Britain is expected to formally being the process of leaving the EU next month.


A fresh attempt to resolve the Bus Éireann dispute gets underway at the WRC today.

The company says it has to make savings of €30m to remain in business, but unions have accused the company of trying to become a low-wage operator.

Unions will engage in new talks today after agreeing to call off planned strike action.