The European Central Bank (ECB) remained steady on its key deposit rate of 4 per cent last Thursday, however, indicators suggest that a decrease may be imminent, possibly by June, according to a report by Joe Brennan.
Meanwhile, Ciara O’Brien observes that in Ireland, the inflation rate plunged below 3 percent in March for the fifth consecutive month. The inflation dipped below the ECB’s targeted rate of 2 per cent in the early days of April, marking the first occurrence in nearly three years.
An upcoming High Court hearing will determine the future of Waterford’s derelict Ard Rí Hotel. The case involves a contention over a sale agreement between the Irish Treacys Hotels group and U.S. fund Cerberus, as explained by Barry O’Halloran.
Laura Slattery reports significant employee reductions by Mediahuis Ireland, publisher of Irish Independent and Sunday Independent. The company, initially employing around 550 individuals, has slashed 50 jobs in a wave of compulsory redundancies.
The family-run Arboretum, having obtained planning permission five years ago, has finalised its €4.5 million outlet upgrade at the National Garden Exhibition Centre in Kilquade, Co Wicklow. According to Ian Curran, this venture will spawn approximately 25 new job opportunities.
Michael O’Flynn, a developer from Cork, received approval for a mixed-use development project in Co Kildare, despite opposition by regular planning protestors Michael Callaghan, John Callaghan, and Mayo-based outfit, An Lucht Inbhuanaithe. This was reported by Gordon Deegan.
In other news, Avcom, an events production firm, landed another contract to oversee audiovisual and support services at the meetings and events division of Croke Park. Ian Curran offers insight on this boost for the Dublin-based company, valued at €7.5 million.
The concerns around the potential privatisation of Ireland’s water resources are often brought up. John FitzGerald, in his latest article, sheds light on this issue drawing parallels with the questionable history in the UK. FitzGerald asserts that privatisation of monopolies is not only ineffectual but also, in cases where it does occur, requires strong regulatory influence to curb owners from taking on heavy debts and disburse substantial dividends. He emphasises the importance for state-operated utilities to maintain adequate funding.
Notable happenings in the Swiss-Irish bakery goods company, Aryzta, include an enigmatic legal action initiated by its former CEO, Kevin Toland, who left the company three years ago with a handsome €1.8 million severance package. The specifics of the lawsuit remain concealed, as reported by Joe Brennan, and the case is still in its infancy.
With its 10-year anniversary, the Wild Atlantic Way celebrates its status as one of Ireland’s most prominent tourist spots. A study in commemoration of its inception after the crash reveals the site’s major success over the years, bringing in an impressive €3 billion in tourism revenue each year. The new Fáilte Ireland report presents an analysis of its success and the role effective marketing strategies played, as reported by Mark Hilliard.
Findings from a study by the group, Medicines for Ireland, indicate potential savings in Ireland’s health system through utilisation of generic, biosimilar, and value-added medicines. Dominic Coyle reported that the group believes policymakers need to acknowledge this quickly to avoid unnecessary expenditure on medications.
In other business news, Winthrop Technologies, an Irish data centre firm, has confirmed a majority stake acquisition by the US private equity firm, Blackstone. The transaction puts Winthrop’s valuation at over €800 million, making it one of Europe’s largest construction firms exclusively focusing on the data centre space, spanning seven markets. This story was detailed by Ciara O’Brien.