A recently released report indicates that the high cost of hotel rooms in Dublin during major events is a common phenomenon in global cities, due to increased demand pressure. It suggests that it is not unusual for hotels, including those in Dublin, to struggle to accommodate the additional demand that large events bring. This information is reported by Mark Hilliard.
In the first quarter of this year, the professional job market has seen a significant decrease in both vacancies and job applicants, falling by nearly a third compared to the same time frame last year according to data in Morgan McKinley’s recent Quarterly Employment Monitor, detailed by Emmet Malone.
Information by Emmet Malone also reveals that a restaurant’s closure in Ireland can result in a cost up to €1.36 million to the Government and an average loss of 22 direct jobs, as suggested by a new report from the Restaurants Association of Ireland due to be published on Tuesday.
In the realm of creative industry, writer Laura Slattery is considering the rising influence of Artificial Intelligence and whether it may soon be crafting popular soaps or sitcoms.
Gabriel Makhlouf, the governor of the Central Bank of Ireland, has brought attention to the risks to the world’s financial system from funds and other non-bank entities. He urges for a more unified approach globally among policymakers and regulators. This information is reported by Eoin Burke-Kennedy.
As reported by Colin Gleeson, approximately 130,000 VHI members will need to adjust their health coverage due to the insurer’s decision to drop several popular plans next month. The details and implications for customers are explained further by Conor Pope.
In other news, Colin Gleeson also confirms that Glanbia is set to purchase US-based counterpart Flavor Producers for an upfront payment of $300 million (€281m), marking the first major deal under new CEO Hugh Maguire.
Lastly, business tycoon Paul Coulson’s Ardagh Group is reported by Joe Brennan as securing at least $1.04 billion (€980 million) in loans from US alternative asset manager Apollo, in order to refinance bonds that are due next year and to manage some of its highest-risk debt at a lower price than its initial value.
Marcelo Cataldo, a seasoned industry player, has been appointed as the Chief Executive Officer of Denis O’Brien’s once-owned mobile network company, Digicel, which was recently handed over to its creditors, as reported by Barry O’Halloran.
New Beginning, an advisory collective focused on providing affordable housing facilities, asserts that its survival is threatened as a funder has decided to cut its daily operational support from €20 million to a mere €10 million.
As indicated by the Central Statistics Office (CSO), farming costs have reportedly eased in Ireland due to a 45% decline in the price of fertilisers over the previous year, coupled with reduced feed and energy prices, despite a surge in potato prices. Further details are given by Eoin.
In the financial section, Fiona Reddan investigates the tax consequences of monetary donations to children while Dominic Coyle tackles queries on annuities and retirement funds, and how to ensure equitable inheritance distribution post-death.
Lastly, the pop artist Flo McSweeney shares insights into her financial habits of either saving or spending money in a dialogue with Tony Clayton-Lea.