The head of Finance Ireland, which drastically reduced its home loan offering two years ago as interest costs soared, has ruled out a return to the mortgage market until “2025 at the earliest” as mainstream banks continue to enjoy a significant competitive advantage with cheap deposit funding. Joe Brennan reports.
Multinational Schneider Electric plans to hire about 40 people over the next two years but the company warns there is a shortage of skilled workers and apprentices in the State. Barry O’Halloran has the details.
We are starting to see just how big an impact the Aer Lingus dispute has had on the economy. One of Dublin’s leading hotels has revealed that it took a €55,000 financial hit to its room turnover as result of the recent flight cancellations. In an interview with Inside Business, a podcast by The Irish Times, Paul Gallagher, the general manager of Buswells Hotel in Dublin 2, situated on Molesworth Street opposite Leinster House, said the hit amounted to about half a week of normal trading for the property. Ciaran Hancock has the story.
Also on Inside Business, Ciaran spoke to the ITIC’s Eoghan O’Meara Walsh and Paul Donnellan, Head Chef and Owner of Gemelle’s Restaurant in Galway on the challenges facing the hospitality industry today.
House prices keep climbing. Irish house-price inflation surged to more than 8 per cent in May as the market shrugged off the impact of higher borrowing costs. The latest residential property price index, compiled by the Central Statistics Office, indicated prices rose at an average rate of 8.2 per cent in the 12 months to May, up from a rate of 7.9 per cent the previous month. Eoin Burke-Kennedy looked at the data.
Cantillon looks at a new fund for local reporting and asks what it says about the wider media industry, while also assessing Fine Gael’s proposed changes to inheritance tax rules. Is it a sop to the rich?
In Innovation, Chris Horn looks at recent criticism from Meta’s Nick Clegg on the apparent lack of innovation in Europe today. But is that really the problem?
Olive Keogh meanwhile meets a Cork startup helping small firms fulfil their ESG commitments.
In Technology, Ciara O’Brien reports on why accessibility is moving to centre stage ahed of a deadline to make products accessible by people with disabilities, while also reviewing the Mixx Streambuds Solo 2.
Dublin Port Company and the Port of Cork Company are set to receive more than €112 million to fund infrastructure projects to develop Ireland’s transport system and enhance the use of offshore wind energy. Fiona Keeley reports.
In a curious court case, a couple allege a debt purchaser is attempting to sell part of their farmland on foot of IR£61,000 loans the Irish Bank Resolution Corporation (IBRC) told them were paid off in full 12 years ago. High Court judge Ms Justice Siobhán Stack said this will be a “truly astonishing” case if the 2012 letter saying the debt was serviced and the IBRC no longer holds any interest in the folio proves to be correct. Ellen O’Riordan was in court.
The cost of insurance is always a hot button issue. Under rules proposed by Sinn Fein, car insurers would be required to file independently audited accounts with the Central Bank to prove they are passing on reduced claims costs to customers. Ian Curran reports.
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