Opening Bell: Regulating vulture funds, consumers go mobile, UK's latest hard Brexit warning

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Tomorrow's Finance Bill is expected to contain draft legislation to tighten regulations regarding 'vulture funds' activities in the Irish property market.

The Irish Times reports that the Attorney General’s office is satisfied that the measures should be included in the Bill, but they may be subject to revisions as the legislative process progresses.

Minister for Finance Michael Noonan has committed to generating revenue from highly-tax effective property funds who have snapped-up assets across Ireland.


There's been a threefold increase in the number of Irish consumers using mobile devices to pay for something.

Visa's 2016 Digital Payments study shows those regularly using their phone, tablet or wearable technology for a transaction has jumped from 18% to 53% during the year.

Just last year, 38% of people had never done it and didn't plan to, but that's now dropped to just 12%.


Cabinet ministers in the UK have been issued with a detailed warning stating that leaving the EU customs union could lead to a 4.5% drop in Britain's GDP by 2030.

The Guardian reports that these figures were circulated during a special Brexit cabinet committee which concluded that British ministers are not ready to decide if the UK should seek continued access to the EU's free trade bloc.

International trade secretary, Liam Fox favours a clean break with the EU - but Ms May is reported to have told her colleagues that she is not ready to take a final stance on the issue. Trade concessions are likely to come in exchange for compromises from the UK on border controls.

The study also warned of Britain's ports becoming clogged if new custom controls are introduced.


China has reported economic growth of 6.7% year-on-year during the third quarter of 2016.

This means the country is likely to meet its full-year growth target.

Expansion offers officials the opportunity to deliver on promises to curb excessive access to credit and to take action to deal with rising property costs.