The Sunday Independent reported that more than 950 Irish-owned companies are currently exporting to the US from the Republic, leaving them exposed to what it describes as a “Brexit multiplied” shock as US president Donald Trump prepares to make an announcement on global tariffs on Wednesday.
As Mr Trump prepares for what he calls “liberation day”, he has said there would be tariffs, for example, on pharmaceuticals “to bring our pharmaceutical industry back”, singling out Ireland, home to manufacturing facilities of many US pharma companies.
However, the Sunday Independent report highlights that while the focus has been on the pharma sector, the impact of tariffs will be broader. Its figure of 950 Irish-owned exporters includes hundreds of small- to medium-sized businesses, it said.
Flatley turned to McGregor for help to refinance film loan
The Business Post reported that Lord of the Dance star Michael Flatley sought to tap mixed martial artist Conor McGregor to help refinance a loan that was at the centre of his Castlehyde receivership row.
The Irish dancer, who ultimately paid off the €6.9 million loan at the centre of a dispute over his mansion in Co Cork with funds from construction magnates Maurice Regan and Luke Comer earlier this month, was in talks to refinance the loan with McGregor Sports Entertainment in March 2024, the report said, citing court documents.
At issue in the case was a loan made to Mr Flatley’s Blackbird Film Productions Ltd by Novellus Finance in 2023 with repayments of €67,000 per month over two years. Novellus claimed there had been default on repayment, which Mr Flatley denied.
The report said that a spokesman for Mr Flatley said that he developed a whiskey brand, and his representatives were approached by Mr McGregor’s representatives to discuss “a possible investment or collaboration”.
Housing bottleneck places risk over outlook for banks
The Sunday Times reported that analysts are becoming concerned about the long-term growth prospects for banks amid a bottleneck in housing supply.
The Sunday Times of Ireland ported that analysts are becoming concerned about the long-term growth prospects for banks amid a bottleneck in housing supply targets, amid inefficiencies in the areas of land serviced by critical infrastructure, productivity in a labour-intensive sector, and funding of developments.
Irish Water, for example, has stated that under current capacity it can connect only 35,000 new homes a year to the network, with further investment required to increase capacity.
The Central Bank and BPFI estimate that about 75,000 housing units could be completed between this year and next, based on commencement activity.
The Government has set itself a target of delivering 41,000 units this year and 43,000 in 2026 – a total of 84,000. It is aiming for 300,000 homes to be built by the end of the decade.
Among analysts quoted in the piece is Diarmaid Sheridan of Davy, who said that while the weak supply of housing won’t have an impact in the short term on banks’ profits, it will over the long term if the current conditions persist.
Backing for Fine Gael drops, while Fianna Fáil rises
Fine Gael’s support among voters has dropped by three percentage points since January – and four points since the general election in November – to 17 per cent and is now five points behind both Fianna Fáil and Sinn Féin, the according to the latest Business Post/Red C poll.
The figures from a Red C survey of 1,002 adults aged 18 and over online between March 21st and 26th.
Fianna Fáil rose by 2 points from the last survey, while Sinn Féin declined one point, according to a report in the Business Post.
The report highlighted that the latest findings come as the Government gears up for an impending trade war between the EU and the US with Donald Trump set to announce a raft of new tariffs on Wednesday.
