Donald Trump last night announced a 25 per cent tariff on all cars and vans imported into the US in the latest stage of an escalating trade war. He also singled out pharmaceuticals as a sector that can expect similar treatment in a move that threatens Ireland’s economy. Keith Duggan reports from Washington. Earlier, the EU’s top trade negotiator said he expects Mr Trump to hit the bloc with tariffs of about 20 per cent next week.
Three shareholders in Web Summit appear to be close to settling their bitter legal disputes after a High Court trial was adjourned to facilitate further discussions, the court heard on Wednesday. Ian Curran has been following the trial and will be back in court this morning.
All of Britain’s fiscal headroom could be wiped out immediately if US president Donald Trump presses ahead with his hikes in import tariffs next week, the UK’s fiscal watchdog has warned. The Office for Budget Responsibility’s warning comes as chancellor of the exchequer, Rachel Reeves, tried to stabilise the UK’s finances on Wednesday with sweeping spending cuts in her spring statement which the opposition Tories said was an “emergency budget”. Mark Paul reports from London
Fintech consultancy Bankhawk has been ordered to pay €64,000 in commission it withheld from a salesman as “leverage” to get him to sign a non-disclosure agreement after the company failed to find the original it said he had signed when he joined the business.
Residents in south Dublin are fighting moves to demolish a “D4 gem” – Smyth’s pub on Haddington Road – and replace it with a larger premises and apartments many fear will create a “super pub” after Dublin City Council granted planning permission to demolish the existing building and replace it with a four and five-storey building. Gordon Deegan has the details.
The final cases taken by Irish-based aircraft lessors against insurers over planes seized by Russian airlines three years ago as a result of the Ukraine war have been all but settled, the High Court heard on Wednesday. Joe Brennan reports that six aircraft lessors filed claims for more than €2.5 billion with the High Court in Dublin in 2022.
Drone delivery company Manna has raised $30 million (€27.7 million) in funding as the company seeks to expand its business in Ireland and further afield. Ciara O’Brien writes that the funding will be used to support the business’s expansion both in Ireland and the Nordics, where Manna recently began testing its services.
Publisher Ian Hyland has acquired the Dublin post-production studio Windmill Lane Pictures, which grew out of the famous recording studios on the Dublin quays where U2 recorded some of their earlier work, but ceased trading earlier this year on foot of mounting losses. Eoin Burke-Kennedy reports
Dunnes Stores had to adapt when Tesco and the German supermarket groups came to Ireland, and retailers today will have to do the same with the arrival of Amazon’s dedicated Irish website, writes Emmet Ryan. Those who innovate and embrace ecommerce have no need to fear.
Emmet also talks to people running some of Ireland’s fast-growing food technology companies as restaurants look to become ever more efficient and diners look to get a firmer grip on the issue of food intolerance.
Meanwhile, Ciara O’Brien looks at the use of artificial intelligence in healthcare, an area that has been underserved by the technology. Recent research suggests AI could help in everything from taking the pressure off overworked X-ray technicians to delivering more accurate diagnoses more quickly.
Finally, Motoring writer Neil Briscoe joins Ciarán Hancock on Inside Business to look at the backlash against Tesla because of Elon Musk’s association with Donald Trump. Sales in Europe have slumped while its share price has shed 24 per cent of its value year to date.
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