Google has spent $1 billion (€750m) buying a 2.4 acre plot in central London where, the company told Reuters, it plans to build a new million square-foot UK HQ by 2016. Construction starts later this year and the facility is due for completion in 2016.
“This is a big investment by Google,” said Matt Britin, Google’s VP for Northern and Central Europe. “We’re committing further to the UK — where computing and the web were invented. It’s good news for Google, for London, and for the UK.”
And a nice tax move for the enormously cash rich company whose massive property investment means the money doesn’t have to be sent back to the parent company in the US where tax would be due.
Central Bank governor Patrick Honohan has been thinking about them. And not in a nice way, either.
Banks will have to be more aggressive in repossessing properties in the buy-to let sector, the Governor of the Central Bank Patrick Honohan warned while ruling out a widespread debt forgiveness programme as unaffordable.
Speaking this evening in Limerick, Mr Honohan stressed that although public policy should aim to avoid the repossession of family homes “where this is unnecessary” when it came to investment properties “there are many circumstances in which there is less reason to be inhibited about repossessing”.
FOREIGN DIRECT investment companies are attracted to Ireland because the Irish are a happy people, Minister for the Arts, Heritage and the Gaeltacht Jimmy Deenihan has claimed.
Speaking at the launch of the Science Gallery’s programme for 2012 in Trinity College Dublin, Mr Deenihan said the disposition of the Irish people was an attractive part of the package offered to foreign direct investment along with the 12.5 per cent corporation tax.
“We are a happy people, and generally a sincere people. For some people, who are looking at foreign direct investment, that is a consideration,” he said.
Mr Deenihan said the Irish were a philosophical race and so many people took the attitude that things that happened were the “will of God”. “I have seen so many people say that over the years and that’s our disposition and it is a very good one to have,” he said.