State pension charges, row over Exergyn’s future, and how trusts can cut taxes

Recipients of the Irish State pension living in North America have experienced a sharp increase in the cost of receiving their benefit, due to a change in banking provider by the Department of Social Protection, reports Fiona Reddan and Ellen O'Riordan. The move follows a switch by the department from Bank of Ireland to Danske Bank.

Dublin-based Exergyn has become embroiled in a row with its own investors over the future direction of the company and a possible sale to US heating giant Carrier Global. Eoin Burke-Kennedy reports that the clean tech specialist has attracted global attention by developing and patenting an emissions-free heat pump that contains no refrigerant gases, one of the main causes of global warming.

Farmland prices could rise 4 per cent this year despite pandemic uncertainties, a report published today has said. Barry O' Halloran reports that Teagasc and the Society of Chartered Surveyors Ireland said land prices remained resilient in the face of the Covid-19 crisis in 2020, with Kildare having the most expensive farmland in the Republic last year while Leitrim had the cheapest.

The Republic of Ireland has climbed one place to 12th in the latest press freedom index published by international non-profit Reporters Without Borders. But the organisation warned that press freedom in the State remained under threat from long delays to defamation law reform and a high concentration of media ownership. Laura Slattery reports.

Pensioners pay price for Government’s banking move

---

Shoppers move online and opt for healthy products in pandemic, report finds

---

Commission set up to assess how tax and welfare can support economy

---

Coca-Cola beats Q1 estimates but warns of rocky road ahead

---

More people around the world are shopping online and many of them opting for healthier options since the Covid-19 pandemic struck, according to a new report from PwC. Colin Gleeson has the details.

The governor of the Central Bank of Ireland has warned that many Irish firms will not survive the pandemic, and will no longer be viable once State supports are removed.

The operators of Dublin's Clarence Hotel have lost a High Court action against AXA claiming they were entitled to cover under business interruption insurance as a result of the Covid-19 pandemic.

Hoteliers Ray Byrne and Eoin Doyle are to open a new hotel in Dublin city centre after securing planning permission for a change of use of an office block off Dame Street previously owned by Eir.

In her personal finance column, Fiona Reddan outlines how to use a trust to cut taxes,and stay in control of your assets.

In her weekly media and marketing column, Laura Slattery asks if Amazon Prime Video can ever be the lord of the streamers.

In this week's Q+A, Dominic Coyle advises a reader who is wondering if foster children are still left out in the cold when it comes to inheritance; while another reader queries if helping pay their son's wedding costs would leave him with a tax bill.

And you can read all of today's Cantillons here.

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