The Government is expected to perform a U-turn in the budget by scrapping plans to impose a capital gains tax (CGT) liability on the transfer of family businesses worth more than €10 million. Minister for Enterprise Peter Burke said changes to the retirement relief system – due to come in next year – would generate huge tax bills for family businesses where ownership is being transferred from one generation to the next. Eoin Burke-Kennedy reports.
The special liquidators of Irish Bank Resolution Corporation (IBRC) have put a collection of retail units at the base of the five-star Mandarin Oriental Hotel in Boston on the market. They are expected to fetch more than $100 million (€89.6m). Joe Brennan reports.
Central Bank deputy governor Derville Rowland is planning to put throw her hat into the ring for a key role at the EU’s new Anti-Money Laundering Authority (AMLA) in Frankfurt, according to sources. As Joe writes, Ms Rowland has recently made her ambitions clear within the bank as well as to a number of Members of the European Parliament (MEP) that she has met in recent weeks in the normal course of her work.
Joe also reports that Grid Finance, a non-bank lender to micro and small businesses, has opened a new channel for securing business through a new partnership with An Post. Under the agreement An Post Retailer Services, which provides a host of services to Irish SMEs, will be able to refer business customers to Grid Finance for “fast and flexible loans”.
In his column, John FitzGerald highlights the need to protect living standards and to do that, we need to press on with the green transition and avoid an energy price shock if at all possible.
Valeo Foods, the Irish food company that owns brands such as Jacob’s, Batchelors, Kelkin and Odlums, is set to raise €30 million in fresh equity investment in 2025, according to a new report by financial analysis firm Fitch Ratings. BarryJ Whyte reports.
Bord Gáis Energy has agreed to pay about €2 million a year to renew its successful sponsorship of the Bord Gáis Energy Theatre in Dublin’s south docklands. Ciaran Hancock has the story.
The Irish Stock Exchange, which trades as Euronext Dublin, saw its pretax profit drop 17 per cent to €18.6 million last year as share trading levels declined amid the exit of CRH from the market and as company payments to other arms of the wider Euronext group rose. Joe has the details.
One in five Irish adults has made no financial arrangements to provide an income in retirement, according to research carried out by the Irish consumer protection agency. And the figure is even higher for people over the age of 55. Dominic Coyle reports.
TikTok has pulled back from its plan to locate hundreds of its employees in offices at the Tropical Fruit Warehouse in Dublin’s south docklands, The Irish Times has learned. In a significant blow to the office market, the firm has decided to bring all of the company’s Dublin-based staff together at its European headquarters in the Sorting Office on nearby Cardiff Lane.
In Business This Week, Dominic Coyle sits down with Eli Lilly chief executive Dave Ricks, who tells him what his company’s plans for Ireland are, and why it is investing €2.8 billion in its plants here.
In Agenda, Emmet Malone looks at the growing popularity of apprenticeships, and why learning a trade may be the path forward for more and more people.
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