Smurfit profit slides ahead of merger, and warning over green fuel confusion

The best news, analysis and comment from The Irish Times business desk

Smurfit Kappa saw profits slide just as it squared up to the challenge of restoring the fortunes of rival Westrock as the two groups merged. Photographer: Luke MacGregor/Bloomberg
Smurfit Kappa saw profits slide just as it squared up to the challenge of restoring the fortunes of rival Westrock as the two groups merged. Photographer: Luke MacGregor/Bloomberg

Earnings at Smurfit Kappa slumped 13.6 per cent in advance of the cardboard box group completing its merger with US rival WestRock, writes Joe Brennan. The group cited higher fibre recovery costs and lower price for finished product but said an industry recovery was gathering momentum.

Ireland could be unwittingly importing mislabelled palm oil, an industry figure has warned after concerns he raised led the Notional Oil Reserves Agency to amend figures for imports of renewable oil products last year. Barry O’Halloran has the details of a story on how green might not be all it appears.

Bloxham was the oldest stockbroking house in the State when it collapsed in 2012. Now, its winding up is coming to an end with liquidator Kieran Wallace recommending court acceptance of payments from some former partners even though they fall far short of the costs incurred.

Two former staff of a tech firm have been awarded close to €46,000 by the Workplace Relations Commission after being left well short on pay for over four months and then string along with empty promises of alternative employment. Stephen Bourke reports.

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Better news for the “blue bus” drivers at Aircoach, who have accepted a 4.8 per cent pay offer over nine months as the company looks to attract new drivers. Disquiet over rostering arrangements had seen the operator forced to cancel several services in recent weeks. Colin Gleeson has the details.

Plans for 300 homes and 60 sheltered units on the former Cadbury’s pitch and putt course in Coolock have been dealt a fatal blow because of concerns about Dublin Bay’s flock of light-bellied Brent geese, writes Gordon Deegan.

Gordon also has good news for Warner Music with news that the company’s Irish business saw profits surge by almost two-thirds last year on the back of strong performances by Kylie, Dua Lipa and Ed Sheeran.

In his column, John McManus asks whether it is really in the best interests of AIB’s customers that the bank remains hamstrung by limits on executive pay.

We hear regularly about the blight of planning for build-to-rent accommodation, but if you’re a young professional looking for hassle-free living could it not be the answer to your housing needs? Joanne Hunt looks at the pros and cons of buy to let from the view of the prospective tenant.

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