Rows over housing; compulsory pensions; and a tough week for aircraft lessors

Sinn Féin has accused the Government of kowtowing to the banks by allowing them be preferential creditors in two State-supported housing programmes. The Government says the equity it will hold in the projects will rank behind bank debt as happens in all other situations. Eoin Burke-Kennedy has the details.

Compulsory private pension cover finally appears to be on the radar with Minister for Social Protection Heather Humphreys announcing the final framework for autoenrolment. From the start of 2024 – providing there are no further hiccups – everyone between 23 and 60 earning more than €20,000 will be signed up to a pension scheme, with contributions growing gradually over a 10-year period to14 per cent of gross salary divided between the employee, the employer and the State. Jack Horgan-Jones has the details.

Aircraft leasing giant AerCap reports results this morning, a day after it got confirmation that at least four of its aircraft have been reregistered by their Russian customers to avoid sanctions. Simon Carswell reports on the reregistering while Barry O'Halloran will look at the AerCap numbers and briefing later this morning.

Meanwhile fellow lessor Avolon says it will be a long time, if at all, before it can return to business in Russia. Meantime, as Barry O'Halloran reports, Dómhnal Slattery is focusing on securing business for the vertical take-off aircraft business he has bought into. Yesterday, another landmark deal was struck, this time in Turkey.

Irish aircraft lessor exploring idea of air taxi service in Istanbul

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Cash for visa firm must pay former senior employee €12,400

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Developers seek permission for almost 1,500 units on three Dublin sites

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‘My wife says I’m a spender – I like to think I’m a little savvier than that’

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The Government has charged the Office of Government Procurement to find a solution to the escalating costs that are making fixed cost State building contracts worthless for builders and making it less likely that they will tender for contracts in the Government's ambitious infrastructure programme, writes Barry O'Halloran.

Mountain Province Diamonds, the Canadian gem miner in which Dermot Desmond is the largest shareholder, has reversed a previous 240 million Canadian dollar writedown in the value of the business as it suggests its 49 per cent holding in an Arctic diamond mine is worth €700 million. Mark Paul reports.

P&O Ferries has doubled down on its decision to sack 800 crew in an attempt to cut costs, defying British government warnings that it will legislate to ensure only ships with crew earning the UK minimum wage can operate from British ports.

Telecoms entrepreneur Declan Ganley talks to Mark Paul about his latest plans to redevelop a pub and restaurant close to his Galway home despite a previous planing refusal.

The prospect of a complete shutdown of Russian gas supplies to Europe hoves into view as Vladimir Putin insists unfriendly countries (aka Europe) pays in roubles to support his currency and European states saying they have no intention of doing so.

Good news for staff at Permanent TSB who will get a 6.5 per cent pay rise over the next two years alongside enhanced base pay, sick leave, pension and maternity arrangements. Colin Gleeson reports.

And European correspondent Naomi O'Leary looks at what we know about the new agreement on data transfers between the EU and the US after a deal was announced last week by President Joe Biden and EU Commission president Ursula von der Leyen.

In Commercial Property, Ronald Quinlan reports on the sale of two adjacent buildings on the edge of St Stephen's Green that are being sold separately for a combined price of ¤63 million.

He also reports on the landmark sale of the large post office building on Dublin's St Andrew's Street, where the agents are seeking offers of around €9.5 million.

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