The European Parliament’s economics committee will consider proposals today which would require member states to inform each other of plans to introduce new tax incentives which could affect their, or another country's, effective tax rates.
This is part of a broader crackdown on tax avoidance in the wake of the Lux Leaks scandal, and mounting international pressure for greater transparency on tax policies.
At the moment when companies are discovered to have received state aid or tax incentives which break EU rules, the recovered money is returned to the state that the company is based in. Under the new proposals this money would be allocated to the EU's budget, or given to "member states which have suffered from an erosion of their tax base."
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340 new jobs have been announced in Cork, Dublin and Limerick. 140 positions are being created at GE Healthcare in Cork. The company plans to double existing production capacity at its Carrigtwohill operation. It makes medical imaging contrast media and already employs 500 people in East Cork.
Meanwhile, 100 new full time jobs have been announced with the expansion of the Limerick Institute of Technology. 134 more jobs will be offered during the construction phase.
Limerick IT is developing a new campus at Coonagh Cross for engineering and pharmacy students. The project will receive €3.5 million in government funding and the first intake of students is scheduled for next year.
Elsewhere, 100 new positions are being created at digital communications company, Neopost in Citywest in Dublin - and 100 new jobs are being created at a new engineering and pharmacy campus at the Limerick Institute of Technology.
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Clerys department store's joint liquidators are seeking directions from the High Court to permit them to pay €654,000 to some 50 former concession holders.
These businesses claim that they are owed €1.4m - while LS Catering which operated cafes in the shop has sought permission to begin its own proceedings.
Joint liquidators KMPG said that they want to pay these concession holders as soon as possible as businesses have gone without these funds since June.
The liquidator's application and LS Catering's request will be mentioned in the High Court today, with the view to a hearing taking place before December 21st.
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Legislation to shorten the bankruptcy period to one year is set to be approved at Cabinet this morning.
The much-anticipated changes to the bankruptcy laws were recommended by an all-party committee earlier this year, and today a memo will be brought by the Justice Minister Frances Fitzgerald.
She will propose legislation to reduce the bankruptcy period to one year - bringing it into line with England and Wales - and the laws will be rushed through so that they can take effect before the New Year.
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Figures from the United States estimate that shoppers spent more than $3bn on Cyber Monday - Black Friday's online sister sales event.
Overall sales are expected to be 12% higher than last year and more than 50% higher than three years ago.
The National Retail Federation in the US found that 60% of US consumers had started their Christmas shopping before Thanks Giving.
