Government reaction to the new EU-US trade deal
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Irish Independent
20 minutes ago
- Irish Independent
Uniphar flags profit growth for first half of the year
In a trading update for the first half of the year, Uniphar said its Pharma division delivered double-digit organic gross profit growth. The group operates four major Irish pharmacy chains: Life, Allcare, Hickey's and McCauley as well as major divisions that service the wholesale sector and pharmaceutical and medical technology arms here and internationally. Commenting on the first half of trade, Uniphar Group CEO Ger Rabbette said the business is confident of reaching a €200m EBITDA target by 2028, with at least 80pc of growth being organic. 'Uniphar has had a strong first half, achieving significant organic gross profit growth. We expect to continue this progress into the second half and meet our growth objectives for each of our three divisions for the full year,' he said. In terms of the outlook for the rest of the year, Uniphar said it entered the second half of this year with strong trading momentum and that declining interest rates favourably impacting finance costs will be a tailwind to current year expectations. The group said it is managing an active pipeline of acquisition opportunities. Net Bank Debt/EBITDA was 1.9x at the end of June 2025. A €35m share buyback programme was completed during the first half of the year. Shares in Uniphar rose on Tuesday, to reach £3.36 each in London, not far off its high for the year of £3.46 a share, seen in June. The shares trade in London's AIM and Dublin's Euronext and the business has a market capitalisation of just under €1bn. The unaudited half year update will be followed up with publication of interim results for the six months ended 30 June 2025 on September 2nd. Uniphar is among a list of home grown Irish multinational companies that Enterprise Minister Peter Burke has held meetings with in recent weeks as he looks to asses else is happening in a rage of sectors impacted by the Trump administration's tariff policy and the impact on the US economy and other markets.
Irish Times
33 minutes ago
- Irish Times
Trump blocks Taiwan's president from New York stopover
Donald Trump 's administration has denied permission for Taiwan 's President Lai Ching-te to stop in New York en route to Central America, after China raised objections with Washington about the visit. Mr Lai planned to travel to the US in August en route to Paraguay, Guatemala and Belize, which recognise Taiwan as a country. But the US told Mr Lai he could not visit New York on the way, according to three people familiar with the decision. On Monday in Taipei, Mr Lai's office issued a statement saying he had no plans to travel overseas in the near future because Taiwan was recovering from a recent typhoon and Taipei was in talks with the US about tariffs . The people familiar with the matter said his decision not to travel came after he had been told he would not be allowed to visit New York. READ MORE The White House's decision will deepen concerns among Taiwan's supporters in Washington that Mr Trump is taking a softer stance on China as he pushes to hold a summit with President Xi Jinping . The Financial Times reported on Monday that the US commerce department had been told to freeze planned export controls against China as the countries hold trade talks and discuss a summit. China objects to Taiwanese leaders visiting the US, which does not have official diplomatic relations with Taipei. In 2023, the Biden administration allowed then-president Tsai Ing-wen to stop in New York on her way to Belize and Guatemala. Mr Lai had approached the Heritage Foundation, a conservative think tank in Washington, to host him at an event in New York during his proposed trip, according to a person familiar with the matter. Mr Lai also planned to visit Dallas on his trip. It was unclear if the US only denied permission to visit New York or whether he was told he could not travel through the US at all. A senior US official said both sides were 'working to remedy the situation' and that no trip had been cancelled. The Taipei Economic and Cultural Representative Office in Washington, which serves as the de facto embassy, referred to the statement from Mr Lai's office that he 'currently has no plans for overseas visits in the near future'. Bonnie Glaser, a China and Taiwan expert at the German Marshall Fund, said the US decision suggested that 'Trump wants to avoid irritating Beijing while US-China negotiations are ongoing and planning gets under way for a possible summit with Xi Jinping'. Ms Glaser said the decision recalled events in Mr Trump's first term when he delayed arms sales to Taiwan and 'went ballistic' after Alex Wong, a senior state department official who served as deputy national security adviser early in this administration, visited Taiwan to give remarks at a conference. 'Trump should be standing up to People's Republic of China pressure, not caving into it,' Ms Glaser said. 'By signalling that aspects of the US relationship with Taiwan are negotiable, Trump will weaken deterrence and embolden Xi to press for additional concessions regarding Taiwan.' Several people familiar with the debate said the Trump administration was trying to avoid jeopardising trade talks with China. Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng started a third round of negotiations in Stockholm on Monday. The Trump administration has also held back taking tough actions against China after Beijing in May slowed the export of rare earths to the US, using its dominance in the industry as leverage against Washington. Randy Shriver, a former senior US official who serves as chair of the board of the Institute for Indo-Pacific Security, said the decision to block Mr Lai from visiting New York reminded him of previous periods when the US avoided taking actions related to Taiwan that it believed would upset Beijing. 'If this is a result of the administration trying to curry favour with Beijing, it is a mistake,' Mr Shriver said. 'This is the old playbook, 'tyranny of the calendar', where there is never a good time to do something on Taiwan. You box yourself in.' Rush Doshi, a former National Security Council China official, said it was important to see the Taiwan move in the context of an across-the-board softening of policy towards China ahead of a possible summit with Xi. 'They've frozen export controls and possibly financial actions too, approved the sale of powerful AI chips to China for nothing in return, and throttled the unofficial relationship with Taiwan,' said Mr Doshi, an assistant professor at Georgetown University and a senior fellow at the Council on Foreign Relations. 'What will they do when Beijing pockets this and asks for more, like changing Taiwan policy or demanding even better US technology?' In addition to concerns about derailing a summit, some officials say the US needs to 'hide and bide' with respect to China. The phrase – which was used by China's former paramount leader Deng Xiaoping – is being invoked to explain that the rare earths leverage China has created over the US limits Washington's ability to take tough actions against Beijing. – Copyright The Financial Times Limited 2025
The Journal
an hour ago
- The Journal
Trump hails 'wonderful news media' at opening of new golf course during last day of Scottish visit
'WE STARTED WITH a beautiful piece of land, but we made it much more beautiful,' Donald Trump told diplomats, supporters, and fellow golfers at the launch of his new course in Scotland this morning. The visit marked the end of Trump's five-day trip to Scotland, where he officially opened a new course at his Aberdeenshire resort, set to welcome the public from 13 August. The trip provided a break from Washington's political turmoil, including renewed attention on the Jeffrey Epstein scandal. While Trump did hold talks with UK Prime Minister Keir Starmer and European Commission President Ursula von der Leyen discussing a potential US-EU trade framework, some of the details remains unresolved. Still, the trip has been heavy on golf, with the presidential presence likely to boost visibility for the newly opened course. The centrepiece was a tour of the Trump-branded course, designed by his son Eric, and situated on Scotland's rugged northeast coast. Secret Service agents and golfers moved throughout the property as Trump prepared for the ribbon-cutting ceremony, which was delayed more than 30 minutes while he repeatedly practiced his swing, surrounded by family. Trump could be seen practicing his swing on the new golf course. BBC BBC The new course features the world's largest natural bunker, windswept dunes, and sea-facing greens, promoted with a 'focus on environmental sensitivity,' according to a press release. Advertisement Fireworks followed the opening, while offshore wind turbines, once the subject of a failed legal challenge by Trump, stood visible in the distance. Though he didn't mention them during his speech today, Trump had criticised wind power during his meetings with von der Leyen and Starmer over the weekend. Addressing the UK media at the event, Trump took a rare moment to praise the press: 'Believe it or not, I didn't say 'fake news' once today. They're wonderful news today,' he joked. Trump was joined by his sons Donald Jr and Eric during the opening ceremony. Alamy Stock Photo Alamy Stock Photo Trump also spoke fondly of Scotland, noting that his late mother, Mary Anne MacLeod, was born on the Isle of Lewis. 'We love Scotland. My mother was born here and she loved it.' He briefly acknowledged widespread protests against his visit, saying 'it wasn't quite a welcome.' Demonstrators had gathered outside his resorts and in major cities across Scotland, waving Palestinian flags, chanting slogans, and even abseiling from bridges during Trump's visit. Trump ended his remarks by promising a quick round of golf before flying back to Washington to 'put out fires'. 'We've stopped about five wars, that's much more important than playing golf.' Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
