As Intel employees in Ireland brace themselves for incoming staff reductions, some insight regarding potential redundancy packages is emerging, with Ciara O’Brien providing complete information. Following a significant increase in VAT charges by the Government, nearly 600 eatery establishments have shut down since last September, estimates stemming from a trade advocacy group suggest. Barry O’Halloran has examined the details.
The firm running X, formerly known as Twitter, ceased using data from European Union users for the training of its AI software, Grok; this is according to the Irish data authority. The corporation consented to halt analysing personal data from posts made by its EU/EEA users from early May to early August 2024 for Grok’s learning purposes, stated the Data Protection Commission (DPC).
Uncertain signs pointing towards a potential recession in the US economy have fuelled worldwide market turmoil this week. Paul Krugman, in his featured column, reviews the current standing of the global powerhouse economy.
This year, Dublin anticipates hosting 27,000 football enthusiasts from around the globe for the Aer Lingus college football classic; this event is predicted to inject over €115 million into the local economy. As Fiona Kelley reveals in her report, the match-up between Georgia Tech and Florida State University is scheduled on August 24th at the fully booked Aviva Stadium.
Inflation rates remained steady in July; consumer prices saw a minor increase of just above 2 per cent, reveals the latest data from the Central Statistics Office (CSO). The yearly consumer price index to July of 2024 witnessed a 2.2 per cent rise, consistent with earlier stats, indicating the persistent deceleration of price growth in the Irish economy. Ian Curran delivers a comprehensive report.
The Government, says Paschal Donohoe, intends to sidestep its self-imposed fiscal regulations next year with the aim of ensuring sufficient funds for the health service, notwithstanding another noteworthy budgetary overrun in the health sector during the initial half of 2024. Further details are provided by Ian.
CRH, the colossal Irish-based building materials firm listed in New York, has revealed potential plans to spend over €20 billion acquiring its competitors in the foreseeable future, according to reporting by Dominic Coyle. In other corporate news, beverage business C&C has reached an agreement with Engine Capital, a group of activist shareholders, which will lead to the appointment of a new non-executive member on the company’s board selected from a mutually agreed shortlist. Ciara is set to enlighten us with more on this matter.
The All-Ireland finals have concluded, yet the GAA is grappling with myriad difficulties. An in-depth examination of the association’s financial status is presented in the Agenda by Barry J Whyte. With the Budget just around the corner, speculations are rife about an imminent election. To win another term in power, the Government might introduce appealing proposals, as suggested by Cliff Taylor.