Euronext Dublin, previously known as the Irish Stock Exchange, has long been a point of worry in the Irish business community. The core issue stems from a shortfall in new listings along with consistent exits of firms seeking more potential in either the London or US markets. This has particularly escalated with significant market players like CRH, Flutter and Smurfit Kappa set to exit or already having exited following certain deals. To rectify this, proposals are being drafted with involvement from top figures from the stockbroking, law and financial accounting realm, aimed at strengthening the exchange. More details on this are provided by Joe Brennan.
In addition to this, Joe has highlighted some alarming facts about the standard of audits of large publicly listed firms. An examination by the national accounting watchdog revealed that 23% of audits of public interest entities (PIEs) from the previous year needed improvement – a figure that’s more than double the deficiencies found in an evaluation conducted in 2022.
Pilita Clark, through her column, discusses our professional meeting practices and points out a universal issue – the meeting drudgery.
Further, a heated legal dispute over the actual value of Rivada Networks shares has emerged between its founder Declan Ganley and a shareholder. David Shuman, who invested in Rivada, is suing Ganley in an attempt to get him to settle the rest of a default debt judgment, which has allegedly reached almost $20 million, including interest, as per court documents. This saga is reported by Barry J Whyte.
Eoin Burke-Kennedy addresses the perennial question of whether immigrants are propelling our economy or swiping our jobs, and breaks down the authentic significance of migration to our economic prosperity.
Meanwhile, residential construction in Ireland has declined for a 17th consecutive month in February, increasing the risk to the Government’s aim of a 2.3% rise in home completions to 33,450 units this year, as per a new survey. Joe will provide additional insights on this matter.
The Bank of Ireland forms part of the consortia funding a wind farm project off the coast of Scotland. The project, Moray West, anticipates to generate enough energy to power approximately 1.3 million homes once completed. The bank’s contribution to this venture totals £56 million or €65.9 million. The future wind farm, located a minimum of 22.5km off of Scotland’s east coast near Aberdeen, received approval in 2019, as indicated on the project’s website. The site of the project will cover roughly 225 sq. km upon full development.
In other reports, an ex-accountant from a ‘big four’ firm is resolute in growing her unique, expat-focused tax advisory website. She has set a target to achieve a turnover of €1 million over the next two years, optimistically carving her niche in a competitive market. Ellen O’Regan provides these insights.
Lastly, in our Monday discourse a week following BPFI chief executive Brian Hayes’ appeal to the Government, Minister for Finance Michael McGrath provides his feedback. Hayes had urged for the inclusion of post offices, credit unions, and banks in the forthcoming Access to Cash legislation.
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