Average national rents rose 2.1 per cent in the first quarter of 2021 and are 1.7 per cent higher than they were a year ago, while Dublin rents remain lower year-on-year but have started to trend upward, according to figures from Daft.ie. Laura Slattery reports.
Unions will meet Aer Lingus this week to discuss the possible impact on jobs of the airline's ongoing losses from continued Government travel bans. The carrier's operations lost €103 million in the first quarter of the year, prompting chief executive Lynne Embleton to warn staff that cuts could be needed should the airline lose a second summer to Covid curbs. Barry O'Halloran has the details.
Another financial services giant is to leave Ireland with UniCredit planning to close its unit in Dublin's International Financial Services Centre after more than quarter of a century and transfer its operations and €12.9 billion balance sheet back to Milan in Italy. Joe Brennan reports.
Charlie Taylor reports on specialist technology investor Atlantic Bridge which has announced a new €80 million investment fund for high-potential start-ups emerging from Irish universities.
Charlie also reports that more than one-fifth of Irish smartphone users who could have upgraded to 5G last year chose not to, according to a new study from Ericsson that finds a lack of interest in making the move from 4G.
Perrigo has made an offer to settle a disputed €1.64 billion tax bill levied by Revenue related to its purchase in 2013 of Elan Pharmaceuticals, Dominic Coyle reports on the disputed tax bill which is the second-largest in the history of the State, behind only the high-profile Apple case which was ruled upon by the European Commission.
And, as Ireland gets a mixed report from the OECD on generational wealth transfer, in this week's Bottom Line column, Dominic examines if Ireland is fair in the taxation of the fortunate classes.
In Commercial Property, Fiona Reddan reports that institutional investors with some ¤18.4 billion invested in Irish property paid tax of €65.7 million in 2020, according to new figures from the Revenue Commissioners, an increase on the amount paid in 2019.
TikTok is aiming to have as many as 2,000 staff working onsite at its new Dublin offices by the first quarter of 2022 following its selection of the Sorting Office as the location for its Irish operations. Ronald Quinlan has the details.
Ronald also reports on French asset-management company Corum securing the HSE as a tenant at One Kilmainham Square in Dublin 8; and that Agent John Younge is guiding a price of €1.1 million for a redevelopment opportunity with full planning permission for 10 apartments in Dublin city centre.
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