The New York State Bar Association's International Section brings the gavel down today on its Spring meeting which has been taking place in Dublin since yesterday. It is the first time the event has been held in Ireland.
Edward Lenci, one of the chairs of the conference and a partner with law firm Hinshaw and Culbertson in New York, said that it was decided to bring the association's Spring meeting to Dublin because the city is an important business and legal centre and will likely become more so now because of the Brexit vote in the UK. Mr Lenci said coming to Dublin will help to build stronger ties and stronger bridges between New York and the Irish legal community.
The lawyer said that Ireland - and Dublin - stands to benefit from Brexit as it is a common law jurisdiction, as well as an English speaking jurisdiction with a sophisticated court system. The Dublin dispute resolution centre also offers arbitration services. In the wake of Brexit, Dublin very likely stands to benefit positively in terms of providing legal services within the European Union.
Mr Lenci said he has heard rumours that US law firms are looking at property in Ireland with a view to establishing offices here. He said that Dublin is set to be become all the more important as a legal and financial centre and US law firms would serve themselves very well to pay attention to what happens here. There will be lots of opportunities for lawyers in the near future, and they will have to be flexible, nimble and forward-looking, he stated. "Times like these usually prove to be very profitable for the legal business", he added.
MORNING BRIEFS - US President Donald Trump has taken a step towards the imposition of tariffs on steel imports. Mr Trump is using a 1962 law to begin an investigation on national security grounds. US Commerce Secretary Wilbur Ross said the administration believed moves to protect American steel production were necessary to ensure it can meet the demands of the defence industry. Trade protectionism was a key plank of Mr Trump's election campaign but the steel investigation is the first move his White House has made in this direction.
*** Spanish drinks company Hijos De Rivera has acquired a 32% stake in the Irish craft brewer behind the O'Hara's beer brand. Carlow Brewing Company said the deal will give O'Hara's access to the Spanish group's international distribution network. Hijos De Rivera has about a 6% share of the Spanish beer market. It distributes its own range of craft beer and cider in a number of large international markets including Brazil, China, Russia and the US. Seamus O'Hara, founder and chief executive of Carlow Brewing Company, said the deal will help Carlow Brewing Company develop new markets for its beer and cider.
*** Irish Press Plc, the company which owned the Irish Press newspaper group, is to hold an extraordinary general meeting for the purposes of winding-up the company. The Irish Press closed in 1995. The PLC said it no longer has any commercial purpose or income after its main remaining asset, a building in Clanwilliam Terrace in Dublin, was sold late last year for €1.1m and its public relations division was closed. The building was sold at a €2m loss and the company still had bank debt of €650,000, according to a letter sent to shareholders. The group also previously owned radio station Tipp FM, which it sold in 2013.
*** Tech billionaire Elon Musk is now plugging into the neural computing craze. The founder of electric vehicle maker Tesla has a new venture, Neuralink. Neuralink is working to link the human brain with a computer. Musk said the company aims to bring a device to market that it hopes will help those with severe brain injuries.