The housing issue remains unresolved despite continual development, with the Central Bank now predicting an annual need for over 50,000 new homes up until 2050, according to a report decoded by Eoin Burke-Kennedy.
On the business front, BT Group, a UK telecommunications major, has engaged UBS investment bankers to discuss the potential selling of its Irish division. The decision, reported by Joe Brennan, comes after plans to sell the business for around €300 million fell through over four years ago.
John McManus delves into the challenges and setbacks faced by Press Up as lenders take over, raising questions over where things went awry for the fast-rising hospitality business.
Considering purchasing a pre-owned car? Joanne Hunt’s Money Matters column explores the pros, cons and precautions to remember when acquiring a second-hand vehicle.
Other stories under consideration include a need for a credible growth strategy from Britain’s chancellor, Rachel Reeves, the impact of social media on stock price stability, the methods of identifying employees making fraudulent claims against employers, and insights on inheritance tax and estate planning.
An account of how the US, rather than Ireland, facilitated Apple’s €13bn tax-avoidance strategy is also reported. Furthermore, Intel’s delay to open two new chip factories in Germany and Poland, as reported by Derek Scally, has resulted in national politics in both countries being disrupted, particularly in Germany.
Measures taken by the government to enhance working conditions for staff members and the introduction of a 13.5 per cent VAT on the hospitality sector are leading the food services sector towards a business crisis, warns a fresh report handled by Colin Gleeson.
In another report, Gleeson outlines how in the past three years up till June, more than €44million has been circulated via money mule accounts, citing figures from the banking industry.
Lastly, an attempt by Twitter to protest against an unprecedented Irish dismissal compensation award worth €550,131 to a previous executive has been recorded by Gordon Deegan.
Amazon has dismissed accusations that its directive for employees to resume full-time in-office work is a ploy to reduce workforce through natural turnover. Employees at the tech behemoth have privately voiced concerns that this move will trigger a mass departure, enabling the firm to diminish workforce numbers via natural attrition. Ciara O’Brien deliberates this, also outlining the stance of major tech companies in Ireland on remote working.
The judgement of a planning appeal opposing the increase of nocturnal flight activities at Dublin Airport has been postponed as An Bord Pleanála has requested additional contributions and observations. This delays news comes courtesy of Ian Curran.
The Electricity Supply Board’s (ESB) chief financial officer has minimised the likelihood of future energy price cuts for Irish customers, implying a current pricing lower limit on natural gas in Europe due to the growing dependency on liquefied natural gas (LNG) which maintains high retail prices. This news is brought to you by Eoin.
A private equity company has recently acquired Scrumdiddly’s, a struggling Irish ice cream retailer, following its survival from a rescue procedure earlier this year. Ian provides more details on this.
Flutter Entertainment, the parent company of Paddy Power, relentlessly acquires gambling firms globally and recently purchased Italy’s Snaitech brand from Playtech for over €2 billion.
On the commercial property front, Ronald Quinlan discusses the acquisition of Blackpool Shopping Centre in Cork by Irish property investor Lugus Capital, and London-based Patron Capital. Meanwhile, Atland Voisin from France has made its successive investment in the commercial property market of Ireland, purchasing Kingram House on Dublin’s Fitzwilliam Place for nearly €11 million.
Finally, Ronald delivers news of The Graduate, a south Dublin property, being put up for sale for the third time in its six-decade history. With a guide price of €7 million, the Killiney-based venue is up for sale as a functioning business by agent Lisney.