Micheál Martin’s musings on the future of the rent cap are a clear sign that the Government now accepts it needs private money if it is to have any chance of hitting its housing targets. And it was also good news for the State’s largest private sector landlord, Ires Reit, whose shares picked up on the news. Joe Brennan reports.
The Taoiseach might take some comfort from a new pipeline report showing the number of housing units under construction in Dublin rose by 26 per cent to 19,380 year on year in the third quarter of last year. But if that suggests the picture is rosier than previously thought, Eoin Burke-Kennedy also reports on other data presenting a less upbeat view of the market.
He also looks at a Goodbody report that warns PTSB it needs to find three times the €21 million in cost savings it will make from its ongoing redundancy programme if it is to meet its own costs target.
To most people, Spain’s Cellnex selling their Irish business to US group Phoenix means little. But tell them it’s a €971 million deal for hundreds of mobile phone masts across the State that are critical to our communications network, the might perk up. Colin Gleeson has the details of a transaction that has now secured regulatory approval.
The rapid growth of artificial intelligence technology concentrated in the hands of several powerful companies poses a “pretty profound threat” to online privacy, the president of Signal messaging app, Meredith Whittaker told a gathering of the great and the good from the worlds of AI and politics at a two-day AI summit in Paris. Jack Power was there for us.
In other news, Barry O’Halloran reports that Irish specialist agribusiness group Clonbio is in line for a €48.4 million European Union grant for a pioneering carbon capture and storage project in Hungary.
And Ikea customers in seven more towns around the State can pick up their Ikea goods for free from their local Tesco car park as long as they spend more than €200. Colin Gleeson has the locations.
Allowing Ireland’s rich to get tax relief on gifts to charity in their will if they top €1 million would “foster a more philanthropic culture” among the wealthiest in the State, the Department of Rural and Community Development said ahead of the budget last year. The Department of Finance disagreed so it didn’t happen. Ken Foxe reports on why they were cool on the idea.
The European Commission said there was absolutely no justification for tariffs on steel and aluminium announced by President Donald Trump on his way to the superbowl but warned it would “protect the interests of European businesses, workers and consumers”. For now, writes Jack Power, it is waiting to see the detail, if any.
Fiona Reddan takes a look at the often thorny subject of adult children in the family home, a more common occurrence in today crazy markets for rent and new homes, especially in Dublin. The key question: should they pay for their keep and, if so, how much? And will that money causes issues with the Revenue?
In Q&A this week, we have a reader who’s looking to sell shares acquired over many years but they don’t have the details of precisely when they were bought and at what price.
Another reader is looking for guidance on whether they can pursue AIB over the failure to be offered a tracker mortgage back in 2008 and, if so, can they pay off their mortgage before a decision is reached.
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