Wexford’s agricultural business brothers, Brett Valens Allen, have invested € 320 million from the sale of Celine Meats and the Bally’s hotel chain in properties that include nursing homes, a wind farm and Chateau de Varen, a luxury Provence guest house. The Sunday Times reports that the brothers also control a 440 million-euro commercial property portfolio in Germany.
TK Maxx and costs
The Sunday Times also reports that TK Maxx’s Irish operation says it is facing a “significant” increase in costs this year due to the Brexit. TK Maxx in this country receives its stock from a distribution center in the UK and now faces custom caps on this import. Profits fell from € 9.1 million a year until January 2020 to € 401,000 as the network suffered from the impact of antivirus restrictions.
Paddy Power and Complaints
Gambling maker Paddy Power has agreed to stop treating any gamble as “risk-free” in its advertising campaigns, following the intervention of the UK Standards Authority in advertising, the Business Post reports. She responded to a public complaint that it was a “social irresponsibility” to run an online campaign promoting a “£ 20 risk-free first bet” where new customers would get their bet if they lost bets on sporting events including Premier League football. , Horse racing, and the Republic of Ireland match in the World Cup qualifiers with Portugal.
The structures of the DPC
The Business Post also reports that the State Data Protection Commission (DPC) has warned the government that a “radical reassessment” of its structure is needed, as it is “unsustainable and unsuitable for the purpose”. The DPC, which is under pressure from home and abroad for perceived weakness in regulating the technology sector, warned in its pre-budget submission that any delay in reorganization “would pose significant and unnecessary risks to Ireland’s international status and Ireland’s future economic prosperity.”
Reorganization of Fexco
Kerry’s financial services group, Fexco, has reorganized at the top level, after recording losses last year of 6 million euros, compared to profits of 18 million euros for 2018, the last period publicly reported. The Sunday Independent reports that Cubid-19 has “destroyed” the core of his foreign exchange earnings.
The internal ‘crisis’ of Sifto
The Sunday Independent also writes that the leaders of Siptu, the country’s largest trade union, are facing an “increasing crisis” after senior staff warned that the union’s “incredibly lacking” internal industrial relations are “inferior to those of the Ryanair model”. Fifteen senior figures have criticized her work environment, claiming it is “full of reward, widespread discrimination, stress-related mental illness and burnout,” the paper said.