CIÉ, Pensions Authority in standoff; Netflix in Ireland; and the climate changes facing businesses

Business Today: the best news, analysis and comment from The Irish Times business desk

One of CIÉ’s pension schemes had a deficit of about €550 million at the end of last year. Photograph: Alan Betson
One of CIÉ’s pension schemes had a deficit of about €550 million at the end of last year. Photograph: Alan Betson

The Pensions Authority repeated a warning to State-owned transport company CIÉ earlier this month that it could be prosecuted for failing to submit a funding proposal for one of its pension schemes, which had a deficit of about €550 million at the end of last year. The Irish Times reported in April that the Pensions Authority had warned it could wind up the scheme or reduce benefits, unless steps were taken to address the deficit. Ciarán Hancock has the latest details.

Some 100 new jobs are to be created locally over the next three years following the coming together of two well-known engineering companies. Charlie Taylor reports CJK is acquiring McGrattan and Kenny to form the Mechanical and Electrical Engineering Services Group in a move that will see both brands being retained.

Beware fairy tales about inflation – it might not be a happy ever after, writes Chris Giles in his column, warning the Goldilocks belief that price rises will be neither too hot nor too cold may be a bit naive.

A seven-week shoot for Netflix's The Wonder is now under way on location in Wicklow and Dublin amid hopes the post-famine psychological thriller – an adaptation of Emma Donoghue's novel – heralds the start of a deeper relationship between the Irish screen industry and the streaming giant. Laura Slattery speaks to the novelist about the project and to producer Ed Guiney of Element Pictures.

READ MORE

In Planet Business, Laura looks back on the week that was, where a 'code red for humanity' was issued over climate change, crypto-keen companies made some headlines, and the tobacco giant Philip Morris continued its quest to try suck in an inhaler-maker.

In this week's Agenda, Mark Paul writes that Irish businesses are face sweeping changes as the climate crisis bites. From agriculture to energy, these ambitious green targets will have far-reaching consequences.

In Caveat, Mark writes that tourism hotspots may have to tweak their offering to service our growing staycation market

A lack of alignment and clarity can leave many employees feeling cynical and disengaged. In World of Work, Olive Keogh speaks to one man whose business

focuses on getting work teams pulling in the same direction and turning them into high-functioning units that get things done.

And in Wild Geese, we meet a Corkman who has gone from Ireland to Kiev via Dubai and Tokyo, earning his keep as a primary school teacher and getting to know the locals through his love of traditional Irish music.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest.

Nora-Ide McAuliffe

Nora-Ide McAuliffe

Nora-Ide McAuliffe is an Audience Editor with The Irish Times