Anticipated turbulence may be on the horizon for summer travels as pilots of the Aer Lingus airline contemplate taking industrial action over pay disputes. The prospect of strike action follows a strong majority rejection of a Labour Court’s intermediary proposal earlier this week. This uncertainty coincides with other challenges for travellers, such as the recently introduced cap on passenger numbers at Dublin Airport, leading to increased ticket prices, as warned by Ryanair.
Monetary activity is on the move as the European Central Bank (ECB) is expected to decrease interest rates for the first time since it commenced boosting rates to combat inflation two years ago. This will be the ECB’s first reduction of principal interest rates since 2019, a change welcomed by mortgage owners, albeit with an unclear future for rates.
In the world of fast food, Supermac’s has gained another significant win in its drawn-out trademark disagreement with McDonald’s, coming out on top in a European Union court decision. Jack Power provides a detailed account.
Almost all of the €3.2 billion in deferred taxes by businesses via a Governmental intervention during the Covid-19 health crisis is currently being paid or in the process thereof, according to the Revenue report on Friday. An impressive €1.07 billion has either been received or a payment agreement established since April 1.
Balmoral International Land, a property company, saw an increase in its stakes to over 60% by the McCann family, famously associated with Fyffes, in the last year. This move transpired after the acquisition of shares from small legacy investors at a period when its assets surpassed performance in the broader property market. Joe Brennan gives a comprehensive report.
Finally, Karlin Lillington, in her column, explores the enduring influence of Fran Rooney, previous CEO of Baltimore Technologies, who passed away recently. His contributions to the field of robust cryptography, although not widely recognised today, have been instrumental in establishing platforms such as iMessage and internet banking, to name a few.
In his examination of Technology and Innovation, Chris Horn brings attention to the visionary Cork native, Percy Ludgate, who had recognised a computer’s potential several decades prior to its actual development. Additionally, Olive Keogh introduces Roamr, a firm dedicated to reducing travel expenses for companies by incentivising employees to accommodate each other. Also, Ciara O’Brien shares valuable advice to tackle holiday scams this summer.
Start Mortgages, a loan management firm under the ownership of the American private equity behemoth Lone Star, has concluded the transference of €2 billion of mortgages previously held by it to its competitor, Mars Capital Ireland. Plans for this operation were made towards the end of last year as the firm wanted to retreat from the market.
After the 2017 sale left it inactive, the former Central Bank’s headquarters will be operational again, and it will serve as the flagship location for WeWork’s Dublin initiative. Ronald Quinlan provides an inside look at the office and documents the story.
New security measures aiming to safeguard consumers against financial exploitation and unlawful activities are greatly essential and overdue, as stated by the Compliance Institute. However, a warning has been issued stating that these regulations might not be enforced for another two years. Dominic Coyle covers this story.
Amidst the government’s budgetary policy criticism by the Irish Fiscal Advisory Council, Cantillon explores the core issues. The UK digital bank Monzo’s possible ambitions in setting up an Irish base earlier this week are also under his radar.
Central Bank Deputy Governor Sharon Donnery, who served as the interim governor after Philip Lane’s move to the ECB in 2019, is also leaving. She plans to seize a role at the European Central Bank and step down from the Irish regulator later this year.
With the Leaving Certificate exams in progress, plans for expansion have been made by the Institute of Education in Dublin, one of the state’s largest schools. It intends to revamp adjacent properties on Lower Leeson Street, and, as reported by Eoin Burke-Kennedy, the proposed changes include the redevelopment of properties at 19 and 20 Lower Leeson Street and the installation of nine novel classrooms and tutoring rooms.
Following the consent by Intel to sell a portion of its Leixlip factory to the US private equity titan Apollo, Joe scrutinises the core challenges for the chip manufacturing company. Additionally, Cliff Taylor assesses the primary queries that Ireland might face due to this agreement.