ESRI warns of biggest slump ever, Brown Thomas’ plans and Michael O’Leary has a point

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

Gaming is the big winner in Covid-19 crisis.

The Republic's economy is on track to shrink by 12.4 per cent this year, marking the largest annual slump in its history, as the Covid-19 pandemic wreaks havoc on households, firms and government finances, according to the Economic and Social Research Institute. Joe Brennan reports.

Steaming of garments after handling by customers, technology to allow customers to virtually "try on" make-up, and the quarantining of purchases returned by customers are among safety measures planned by Dublin department stores Brown Thomas and Arnotts for their reopening next month. Mark Paul has the details.

Banking and Payments Federation Ireland said 78,000 mortgage payment breaks have been granted by Irish lenders as a result of the Covid-19 crisis, representing a 20 per cent increase in less than a month. Joe Brennan reports.

Veteran Irish entrepreneur and businessman Michael Smurfit has added his voice to criticism of the decisions by governments around the world to totally lock down their economies in response to the Covid-19 pandemic, writes Ciarán Hancock.

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Resident sage Cantillon tells us that Michael O'Leary may have a point, that Irish banks could rue their failure to innovate and has a sneak preview of the new normal for hotels.

Karlin Lillington says it is time for the EU to rebuild GDPR in her weekly column while Chris Horn says beware of the siren call to rush back to business as usual.

Ciara O'Brien looks at the big winner in Covid-19, the gaming industry. Ciara also reviews the Huawei Watch GT 2e.

Aerospace, medical and consumer products are just three of the sectors being targeted by Cork-based start-up Addaptiv Design & Technology, writes Olive Keogh.

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Conn Ó Midheach

Conn Ó Midheach

Conn O Midheach is Assistant Business Editor - Digital of The Irish Times