Housing: the money divide; Norwegian buys time; and Covid delivers for Flipdish

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

A new report says it will likely be the end of 2023 before housing supply meets demand as a result of the disruption caused in the construction sector by the pandemic. Photograph: iStock
A new report says it will likely be the end of 2023 before housing supply meets demand as a result of the disruption caused in the construction sector by the pandemic. Photograph: iStock

The Covid-19 crisis is likely to make homebuying more exclusive, writes Eoin Burke-Kennedy. That's the finding of a KBC Bank survey that shows a sharp split in opinion between those with higher and lower incomes.

A separate report from the Banking and Payments Federation of Ireland, which represents lenders, says it will likely be the end of 2023 before housing supply meets demand as a result of the disruption caused in the construction sector by the pandemic.

Norwegian Air has secured court protection from creditors for the next 100 days as the company looks to restructure up to €4.1 billion in debt. Barry O'Halloran was in court for the hearing.

DIY group B&Q is the first Irish retailer to confirm it will refund business rates after enjoying a boom during the pandemic. Mark Paul writes that the move will see €1.1 million refunded to the exchequer.

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Online ordering from restaurants during the Covid pandemic has been good news for Irish digital food-ordering platform Flipdish. Ciara O'Brien reports that the group which employed only 50 people at the end of last year has announced plans to hire another 200 bodies in 2021, bring total staff numbers to 350.

The Shannon estuary and the wider west coast can provide "unprecedented renewable energy opportunity for Ireland" by becoming a strategic location for development of floating offshore wind technology, a study commissioned by the Shannon Foynes Port Company has found. Kevin O'Sullivan reports.

A group of credit unions in north Dublin has imposed a €15,000 ceiling on deposit account balances as it copes with a boom in savings. The Progressive Credit Union has nine branches and 60,000 members, writes Fiona Reddan.

Better news for VHI members facing increases in premiums next year. The private health insurer has decided to refund €75 per adult and €25 per child to policyholders as claims fall during the Covid lockdowns, writes Fiona.

In Personal Finance, Fiona Reddan asks whether we really need to consider private health insurance for our children? And if we do, what are the best options.

And lending money to family members can be trickier than you think, we advise a reader in Q&A. Get it wrong and you won't just have your family on your case, the Revenue will be looking for a word as well.

And in her column, as Warner Brothers announces that its full slate of 2021 movie releases will go on-stream at the same time as they open inn cinemas, Laura Slattery examines to what degree the streaming revolution means open access for all.

Finally, 15 leading technology companies have been shortlisted for the annual Irish Times Innovation Awards across five categories. See who's made the final cut.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times