Ryanair has today confirmed that it will endorse IAG's offer for their shareholding in Aer Lingus Group PLC. Ryanair controls 29.8 percent of Aer Lingus.
Its board has said they believe the offer 'maximises' Ryanair shareholder value. It will now vote in favour of the deal at next Thursday's Aer Lingus EGM.
"The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past 9 years,” said Ryanair CEO Michael O’Leary.
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Greece has submitted new plans for tackling its debt crisis as the country aims to avoid a eurozone exit, the proposals were received by Eurogroup chair, Jeroen Dijsselbloem around two hours before last night's midnight deadline.
The heads of all 28 EU member states will discuss the proposals at a decisive summit on Sunday.
Both sides seem to have finally found common ground - Germany is believed to be prepared to offer significant debt relief to Greece, while Athens is willing to enforce fresh austerity measures.
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Business groups have claimed EU rules could be hampering essential investment. In its latest quarterly Economic Outlook, business group IBEC says the economy is performing well, with a return to more consumer spending and predicted GDP growth of five percent this year.
But it wants the Government to set aside an additional one billion euro in the budget for vital infrastructure including transport and broadband.
Ibec's Head of Policy and Chief Economist Fergal O'Brien said the group is concerned about how EU rules could affect investment:
"We are particularly concerned that the new EU rules on government expenditure are actually retarding that ambition around future investment.
"We’re really saying to government that they need to go and talk to the European Commission, they need to get concessions around investment expenditure in the economy.
"The rules make sense for controlling day to day tax and day to day expenditure but not for investment," he said.
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Amazon has acquired Jacob’s biscuit's former-factory on Belgard Road in Tallaght, Dublin - the building has been vacant since 2008.
The e-commerce giant already operates a 22,300sq m data centre in Tallaght.
It currently employs 32,000 people in the EU - Tallaght Echo reports that the new office will provide a significant jobs boost to the capital.
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China's stock market has showed further signs of calming overnight, the Shanghai Composite index rallied through the night, with the market enjoying a 6.4 percent bounce soon after it opened.
The country's government and central bank have taken drastic action to end the slide which has wiped 30 percent off of the total value of the market since mid-June.
Even at its worst shares were still up by some 80 percent, year on year.
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Chancellor George Osborne has announced an overhaul of the UK's planning laws to boost productivity and allow for more houses to be built.
Planning permission would be granted automatically on suitable disused industrial land, limiting delays to development, under the reforms.
More derelict brownfield plots could also be seized for development through beefed up compulsory purchase powers. Major infrastructure projects that include new housing will be fast-tracked and Whitehall will step in if councils fail to act to meet local housing demands.
The measures are part of the Chancellor's Fixing the Foundations package, billed by the Treasury as the second half of the Budget. Critics are likely to accuse the Government of stripping opponents of new developments of vital powers to object, but Mr Osborne insisted the plans would help tackle the housing shortage and make Britain more prosperous.
