Seen & Heard: Matt Ryan’s Press Up exit; Capreit vows ‘never again’ to invest in Ireland; Airport cap could face EU challenge
Seen & Heard: Matt Ryan’s Press Up exit; Capreit vows ‘never again’ to invest in Ireland; Airport cap could face EU challenge
The Parliamentary Budget Office , which provides independent budgetary analysis to members of the Dáil and Seanad, noted in a recent report that while household wealth in the Republic has surged to more €1.1 trillion in recent times, the tax yield from wealthier households remains quite small. In another big blow to Paddy McKillen Jnr’s hospitality empire, the executive who helped build the Press Up group into an industry behemoth has left the business and is now setting up a new company with Denis O’Brien’s nephew Emmett O’Neill.
However, his departure from the executive team follows a period of upheaval at Press Up after London-based investor Cheyne Capital agreed to take a majority stake in the troubled group earlier this year.Also in the Sunday Times, the chief executive of the Canadian company responsible for founding Ires Reit – the State’s largest corporate landlord – has vowed never to invest in the Republic again, blaming the “untrustworthy environment” around the residential rental sector.
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