Ireland’s west coast could generate more than enough wind energy to power the country, but it will take at least 10 years and probably longer to develop the required technology, EirGrid boss Mark Foley has said.
Ian Curran reports that the number of homes completed in the first quarter of 2023 was more than 19 per cent ahead of the same period last year as the construction sector carried forward some of the 2022 momentum into the new year.
On the Inside Business podcast, Ciaran Hancock asks why an activist investor is targeting Ires Reit, the biggest private landlord in the country.
Despite the increase in homes completed, ratings agency DBRS Morningstar said that correcting a shortage of housing in the State is “key” for it to remain competitive in the global economy. Joe Brennan has the story.
In her column, Karlin Lillington looks at where Twitter’s blue tick fiasco leaves the troubled social media firm.
As Ulster Bank and KBC Ireland leave the market here, Ciara O’Brien runs the rule on the fintechs vying for your bank account.
Corporation tax from the 10 biggest contributors in the State jumped to €13 billion last year, or 57 per cent of the record €22.6 billion collected by the Government, according to new data from the Revenue Commissioners. As Ian Curran reports, that further concentrating of the State’s reliance of a few big businesses leaves it vulnerable to sudden shifts in industry trends and macroeconomic conditions.
Cantillon meanwhile looks at why the corporate tax take has taken off to such a degree, while Smurfit Kappa faces protests at its upcoming shareholder meeting.
Irish consumers are more optimistic than at any point since early last year with falling energy costs – at least on wholesale markets – and an improved economic outlook lifting sentiment to a 13 month high, according to the latest Credit Union Consumer Sentiment Index. Conor Pope has the story.
The operator of Weston Airport, which is part owned by Stripe co-founder John Collison, has secured permission for an upgrade in terminal facilities at the airport. Gordon has the story.
Bank of America’s EU banking hub in Dublin saw its pretax profit slide 4.7 per cent to $714 million (€646 million) last year as the company set aside $106 million of provisions to cover potential loan losses while the European economy weakened amid rising inflation and the Ukraine war. Joe has read the accounts.
Joe also reports that aircraft lessors face up to two years for insurance payouts tied to planes stranded in Russia, according to the chairman of Lloyd’s of London.
The main Irish arm of computer software and hardware giant Oracle has paid out cumulative dividends of €1.455 billion since January of last year. Gordon Deegan reports.
The High Court has indicated its approval of orders proposed by insurer FBD and two pub operators in relation to quantifying two pubs’ losses caused by Covid-19′s disruption to business. The planned orders, which deal in detail with various factors affecting the level of losses sustained, will have a bearing on about 1,000 Irish pubs and restaurants holding FBD policies. Ellen O’Riordan reports.
Gordon also reports that Dublin City Council has given the green light for a scaled back residential development (LRD) for Richmond Road on a site close to the Tolka river.
The European Commission proposed the biggest overhaul of European Union pharmaceutical legislation in two decades on Wednesday, in a bid to improve access to medicines and encourage research into neglected treatments. Naomi O’Leary has the details.
Former Vodafone Ireland chief executive Anne O’Leary is to take on the role of head of Meta Ireland, replacing Rick Kelley. Ciara O’Brien has the story.
It might seem early for a pre-Budget submission but ISME has got in ahead of the pack. Ireland’s “dangerously narrow” tax base must be reformed to meet long-term public investment objectives around health and housing while incentivising landlords to remain in the market, the lobby group for small businesses has warned. Ian reports.
In Innovation, Neil Briscoe reports on the Irish company bring racing simulators into real life, while Olive Keogh speaks to the man behind Trave, a modular digital project management toolkit aimed at small and medium sized construction companies.
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