According to Bank of Ireland, almost 40% of home purchases in Ireland are now finalising at a price that is 10% higher than the initial asking price due to fierce competition, as reported by Eoin Burke-Kennedy. Over the last three years, there has been a significant increase in employment in the Irish funds market; however, regulations and domestic talent availability could limit future growth, as detailed in a report published on Monday. Ian Curran discusses this in his report.
Eoin has also divulged that Qualcomm is exploring a takeover bid for Intel, which could have a significant impact on Intel’s operations in Ireland. Additionally, a new study by Sia Partners suggests that Generative AI could automate over 80% tasks in almost a third of all job categories, marking a major shift in how work will be conducted, driven by fast-growing large language models and GenAI technologies.
The vulnerability of Ireland to an energy crisis due to its reliance on fossil fuels is another issue. The article also highlights a discussion on appropriate benchmarks for comparing our economy with others’.
Lilly, a leading pharmaceutical manufacturer, has chosen Ireland for producing two of its most promising therapy areas. Changes in tax policy, notably the rent tax credit, from the last budget have slightly decreased the living wage. The Living Wage Technical Group (LWTG) has lowered the minimum hourly rate for a full-time worker (without dependents) to be able to afford basic necessities to €14.75, factoring in the real costs encountered by employees in Ireland and alterations in living expenses and income taxes, as Eoin explains.
Eoin also acknowledges in his column that polls for Sinn Fein, Ireland’s rising political party, are not showing growth and that it is grappling with immigration issues. Has Sinn Fein missed its chance?
The latest inquiry into school abuse cases presents another serious criticism of the Irish legal system, opines SC Philip Stevens. He suggests that a revamp of rules regarding class action lawsuits and third-party funding might greatly benefit the victims in such cases.
Lastly, as more corporations, including Amazon, are encouraging employees to return to the office, Emma Jacobs alerts against idealising the office as a hotspot for innovation prior to the pandemic. She asserts that it wasn’t as perfect as it has been portrayed.