Germany plans €900bn defence, infrastructure spend

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Incoming German chancellor Friedrich Merz speaking on Tuesday. Photograph: RALF HIRSCHBERGER/AFP via Getty Images
Incoming German chancellor Friedrich Merz speaking on Tuesday. Photograph: RALF HIRSCHBERGER/AFP via Getty Images

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German centre-right leader Friedrich Merz is not yet chancellor but, 10 days after his party’s election victory, he has vowed to spend “whatever it takes” to shore up Germany’s defence and civilian infrastructure. As Derek Scally reports, the centre-right Christian Democratic Union (CDU) leader announced an unorthodox plan to recall the old Bundestag parliament later this month. It will be asked to set aside debt rules temporarily and back borrowing of at least €900 billion for urgent security and infrastructure spending.

China has hit back against US President Donald Trump’s latest round of tariffs by hiking import duties on some American agricultural and food products by 10 to 15 per cent. Citing national security concerns, Beijing also imposed export and investment restrictions on 25 United States companies, banning imports of gene sequencing machines from medical equipment firm Illumina. Meanwhile Canada leader Justin Trudeau has also announced reciprocal levies for the “dumb” tariffs.

There was further subdued growth of the Irish services economy last month with both new business and total activity increasing at the weakest rates in just over a year. As Colin Gleeson reports, wages remained a key source of cost pressures, with input price inflation rising to a nine-month high, according to the latest PMI report from AIB.

Residents of Carrigstown will soon be going full Lidl. The supermarket chain’s next Irish store will be located in the fictional north Dublin suburb on the RTÉ soap opera Fair City in what is said to be the largest product placement deal on Irish television. Laura Slattery has the story.

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Nominations are now open for the annual Business to Arts Awards, which this year will include an ESB-supported new award for creative sustainability projects as well as a €5,000 bursary sponsored by The Irish Times. The awards are aimed at businesses, philanthropic organisations and individuals that support artists and arts organisations. Nominations close on April 22nd.

In her column, Sarah O’Connor looks at what people coming into the workforce today need to be ready for when it comes to AI, and skills beyond.

The board of TG4 has announced that Deirdre Ní Choistín has been appointed director general of TG4 with the statutory consent of the Government following a competitive public recruitment process. Laura Slattery has the story.

Eastdil Secured and Savills have been appointed to find a buyer for the Jervis Shopping Centre in Dublin city centre. While preparations for the sale of the scheme are continuing, The Irish Times understands the centre is to be offered to the market within weeks at a guide price of about €120 million. Ronald Quinlan has the story.

Ronald also reports that after nearly half a century of being owned and operated by the Keogh family, Peter’s Pub, one of Dublin city’s best-known venues, has come to the market.

There is a windfall of about €24 million coming to seven, eight and nine year olds over the next six weeks or so. As Joanne Hunt writes, on average a child making their first communion now gets about €550. But what to do with the money? In Money Matters, Joanne looks at the options.

A coffee shop to be contained within a repurposed shipping container in the grounds of Charlie Chawke’s Goat Bar and Grill at Goatstown does not affect adjoining residential amenity and is not visible from the public road, according to planning consultants. Gordon Deegan has the story.

Having tried and failed to secure planning permission for the development of a boutique holiday resort and surf school on the clifftop lands at Magheramore Beach in Co Wicklow, Paddy McKillen Jnr’s Oakmount has instructed online auction specialist BidX1 to offer the property for sale. Ronald has the story.

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