Seen & Heard: Aviation tycoon backing company behind €20m drone project

The Sunday Times reports that EY has paid £2 million to settle a case taken against it by the administrators of Worldspreads, the collapsed Irish spread-betting company. The settlement was made without any admission of liability, and the cash will be used to fund a final dividend to clients who lost money when it went bust in 2012.

The Sunday Business Post reports that JP McManus is in talks with former Department of Finance secretary general John Moran about taking him on as a financial adviser. The newspaper says an agreement between the two men is likely to be formalised "in the coming weeks".

Ulick McEvaddy, the aviation tycoon, is backing the launch of an Irish company that plans to spend €20 million developing a drone project. The Sunday Business Post reports he has joined the board of Green Aviation, which was started by a former army captain.

The international defence industry will be given increased access to the Irish Defence Forces to test its products, under a plan devised by Simon Coveney, the Minister for Defence, reports the Sunday Independent.

The Sunday Independent reports that Louth company Swift Composite Prototypes says it is planning to start production of 1,000 electric sports cars by the end of next year. The car will be called the Alex roadster and will sell for about €30,000.