The Commission for the Regulation of Utilities (CRU) has cautioned Ireland’s state utility, Uisce Éireann, formerly known as Irish Water, that it may not meet its annual objectives. In light of taxpayers contributing €8 billion since 2020, the water company’s performance has been criticised by the CRU for failing to complete over half its planned tasks. It was specifically baffled by a notable decrease in the leaked water incidents the company managed to control, and infuriated by the sizeable rise in sewage issues, including equipment malfunctions and blocked drains.
Business entrepreneur, Eamon Waters, expressed his irritation with the Dublin City Council’s refusal to authorise the plans for his envisaged six-storey building on Baggot Street. The waste magnate disputed the DCC’s attitude of not asking for additional details regarding the concerns they raised in their planning report for the Baggot Street property. Waters announced that he plans to halt investing in Dublin’s new projects unless the Council amends its approach. He also threatened to indefinitely postpone work on several other sites, expressing disappointment at the Council’s rejection of what he believed to be a high-quality project.
Neil Morris, the local director of the international tech conglomerate Amazon, recently cautioned that the Republic of Ireland has become too relaxed in attracting large, international investments. He admonished that the nation has a tendency to take the employment opportunities and financial investments provided by foreign firms lightly. Mr. Morris noted at the Construction Industry Federation’s annual conference that the nation should facilitate rather than hinder the construction of data centres, stating that they are essential to enticing foreign investors.
Victoria’s Secret, the popular lingerie brand, is considering shutting down its outlet on Dublin’s Grafton Street, according to a report by The Sunday Times. The company is investigating whether they can sublet the store to another retailer, but no final decision has been reached yet.
The Grafton Street shop is the only Victoria’s Secret store in the Republic, even though a lease contract has been signed for a location at Opera Lane in Cork. Eamon Waters, a waste business tycoon who owns the property, acquired it in 2023 for €28 million. The shop opened its doors in 2017 when Victoria’s Secret signed a twenty-year rental agreement. British company Next Plc seized the majority shares of the UK business in 2020 and manages the stores in the UK and Ireland.
In other news, Cork start-up SimpleStudy, backed by Intercom co-founders Des Traynor and Ciaran Lee, received €6m in investment. Started by Oisin Devoy and Philip McKenna in 2020, SimpleStudy assists students with exam preparation. It successfully secured €750,000 earlier this year and having entered the UK market successfully, it’s currently contemplating expansion into Brazil. Additionally, the company is on the verge of making a move into France, as per a report in The Sunday Independent.