Kellogg's pays only €7m in tax on €7.1bn sales directed through Ireland

Because of high interest loans from a Luxembourg-based Kellogg's subsidiary, its Dublin-based arm is often loss-making despite massive sales figures.

The analysis by the Irish Times follows the company's warning to investors in its annual report that the tightening of international tax laws could result in a "material impact" on its bottom line.

Varoufakis guarantees €450m repayment to IMF this week

It was all smiles as Greek Finance Minister Yanis Varoufakis met the head of the IMF in Washington over the weekend and pledged that Greece would meet its €450m repayment to the Fund later this week.

It’s the first of a number of significant funding hurdles the Greeks must face over the next couple of weeks, including the latest round of public service pensions and salaries early next week.

FedEx to purchase TNT Express for €4.4bn

US courier service FedEx has announced the planned acquisition of Dutch rival TNT Express today.

The firm has offered €8 per share in TNT, a 33 per cent increase on its current market price, which would value the company at €4.4bn euro. According to a joint press release, the deal is expected to be completed in the first half of next year.

Samsung profits jump 11 per cent in first quarter

First quarter reports have shown a very impressive performance from Samsung.

The Korean consumer electronics group has reported better-than-expected first quarter profits of $5.4bn – up 11% on previous quarter.

It follows two years of difficulty due to increased competition in the smartphone market.

NTR to distribute millions following exit from US wind energy sector

Irish renewable energy group NTR, which also operates a number of the country’s toll booths, has sold its remaining US wind farms – in Kansas and Missouri – for net proceeds of €195m.

The company will now begin to expand its renewably energy production in Ireland and the UK.