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Opening Bell: Ireland eyes Oscar business deals, Kerry Group results, Brexit fears hit Sterling values

IDA Ireland and the Irish Film Board (IFB) hope to use this weekend's Oscar ceremony as a platfor...
Newstalk
Newstalk

07.50 23 Feb 2016


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Opening Bell: Ireland eyes Osc...

Opening Bell: Ireland eyes Oscar business deals, Kerry Group results, Brexit fears hit Sterling values

Newstalk
Newstalk

07.50 23 Feb 2016


Share this article


IDA Ireland and the Irish Film Board (IFB) hope to use this weekend's Oscar ceremony as a platform to attract film-makers to Ireland. 

According to the Irish Independent, both agencies have full schedules during the coming days as they meet with studio executives, talent agents, financiers and other representatives from the film industry.

IFB chief executive, James Hickey commented on the opportunity that the success of Irish productions and actors offers:

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"The eyes of the film world truly are on us. In Hollywood next week our message will be clear - the Irish film sector is a world player in creativity and technical skills.

"Ireland is at the nexus of technology and innovation; we can offer international productions access to attractive incentives, unrivalled landscapes, developed infrastructure and a pool of wonderful and experienced creative talent."

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Food technology, flavours and consumer food group, Kerry has just announced 6% increase in global turnover to €6.1bn during 2015.

Pre-tax profits rose by 8% during the period to €603m.

According to Kerry, the performance reflected a particularly strong year in American markets where sales rose by more than 21%; and good growth in Asia despite lower economic growth in some regional developing markets there.

The group has declared a final dividend of 35c per share bringing the dividend for the year to 50c, an increase of 11% on 2014.

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Sterling values have hit a seven-year low as the currency fell following Friday's negotiations between British PM David Cameron and his EU partners - and London’s mayor Boris Johnson's backing of a vote to leave the Union.

The uncertainty created by the coming referendum is likely to cause Sterling values to lag.

The British pound has fallen in value by 3% since the start of the year - this is the largest drop experienced by a major currency in 2016.

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Bosses at more than a third of the UK's biggest businesses have signed a letter supporting the campaign to remain in the European Union.

Chairmen or chief executives at 36 FTSE 100 companies - including BT, Marks & Spencer, Kingfisher and Vodafone - warned a Brexit would "deter investment and threaten jobs."

This is a boost for the British Prime Minister - but falls short of the 80 signatories some experts expected. 


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