Department of Finance officials have raised questions over the future of Ireland’s stock market, warning the Dublin exchange may face “long-term decline” as two of its biggest companies take out listings in the United States, writes Arthur Beesley. Officials fear the departure of cement giant CRH from the Irish market and US moves by gambling group Flutter “could harm Ireland’s attractiveness” for international investors in shares, leading to a loss of trading revenues and commissions. Arthur also provides background to the problems facing the exchange.
TikTok is facing a big fine within weeks for violating children’s privacy on its video-sharing app, with the penalty likely to be measured in the hundreds of millions of euro. The Chinese-owned company, which employs more than 3,000 people in Ireland, has been under “large-scale” investigation for two years in a case centred on the processing of children’s personal data. Arthur Beesely has the details.
In Any Other Business, John Burns finds Simon Pratt eyeing expansion of his Roundwood Stores, Sinéad Crowley swapping RTÉ for the media regulator and Eddie O’Connor joining the flock of Irish ‘wine geese’.
Morale in Accenture extremely low, say the employees who spoke to The Irish Times. “People who’ve been told their jobs are safe, don’t really feel that their jobs are safe. Anyone whose job is safe does not feel that, culturally, the environment in Accenture is somewhere they want to continue working.” Hugh Dooley reports on a workforce reeling from the announcement of major cuts to its Irish operation.
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A sharp rise in vehicle prices in the year to the end of March saw the value of car loans drawn down in the first three months of 2023 surge by almost 40 per cent, new data from the Banking and Payments Federation of Ireland indicates, writes Ian Curran.
China’s economy defies analogies. Just as its growth over the past four decades was unprecedented, its current difficulties – and it certainly has a problem, if not quite a crisis – are unique, writes Robin Harding.
In Agenda, Joe Brennan tells us that AIB and Bank of Ireland are making more money out of the combined €60bn of surplus cash parked with the Central Bank than they are from their €60bn or so of mortgages.
Accenture job cuts: Staff ‘distraught and devastated’ after announcement
The more employers step into the area of supporting mental health, the more they open themselves up to claims they are falling short, writes Brooke Master.
We profile four of the seven finalists chosen in the emerging category for this year’s EY Entrepreneur of the Year awards. The finalists will vie to become EY Entrepreneur of the Year at a ceremony in November. This week’s four are: Ray Nangle and Ger Killian of The Lunch Bag; Lauren Duggan, Aine Kilkenny and Fiona Parfrey of Riley; Chris Kelly of EasyGo and Declan Wynne of Skanstec Engineering.
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