The Government may be forced to ration natural gas this winter following a European Union call to cut consumption of the fuel, energy industry figures fear, writes Barry O’Halloran. The European Commission called on member states to cut natural gas consumption by 15 per cent over the next eight months as Russia threatens to “weaponise supplies” in retaliation for EU sanctions sparked by its invasion of Ukraine.
The big news today will be the precise scale of the rise in European Central Bank interest rates. Joe Brennan reports that Irish banks are set to start moving soon afterwards to pass on relief to customers and businesses currently being charged negative rates on accounts holding at least €1 million on deposit, according to industry sources.
In its pre-Budget submission, Dublin Chamber of Commerce is crystal clear on the priority — housing, writes Ian Curran. The accommodation shortage in the capital coupled with remote working trends are “driving employment abroad”, it has warned.
Irish households were saving more during the 2020 Covid lockdown — as much as 25 per cent of their monthly disposable income — than any other euro zone country, according to Central Bank data. Joe Brennan has the details.
Three Dublin pubs have challenged planning permission for an extension of the Holiday Inn Express in Dublin’s O’Connell Street on the grounds that it will be built over the shared beer garden — described as a “unique cultural centre” — at the back of their venues, writes Gordon Deegan.
And UK-based challenger bank, Starling, pulled its application for an Irish banking licence even as Central Bank officials clearly signalled they were preparing its plan to set up in the Republic and use it as a launch pad into other EU countries, according to sources. Joe Brennan reports.
In technology and innovation, Chris Horn writes the battery packs in electric vehicles will generally last only 10 years. That means there will be about 15 million tons of lithium-ion batteries reaching the end of their useful life by 2030. He looks at the stampede by both start-ups and established players that are innovating to recycle battery materials.
Ian Curran talks to climate-focused serial entrepreneur Norman Crowley who is looking to bounce back from the pandemic with a new technology that he says can be retrofitted to mining vehicles, converting them from diesel-powered to electric.
And we also look at the growing use of robotics in the logistics sector where warehouses run by robots without requiring air conditioning or lighting tuned to human needs could arrive in three or four years.
Finally, software engineer Emma Meehan is also a competitive weightlifter and personal trainer. She has developed an app that removes the need for personal trainers to supervise a client’s form during training. Now her business, Precision Sports Technology, is looking to commercialise the product.
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