High-earning senior executives who have halted their pension contributions to prevent exceeding a €2 million tax-beneficial limit may unknowingly find themselves partaking in the forthcoming AE pension plan in the Republic. This has been reported by Joe Brennan.
Tesla is progressing towards launching its self-driving system in China, following approval from a governmental organisation regarding the car maker’s handling of personal data. In addition, Tesla has brokered an agreement with Chinese company Baidu for the mapping and navigation technology necessary for autonomous vehicles, as reported by various media outlets. Denis Staunton has covered this story.
Continuing the coverage of Tesla, Neil Briscoe informs that the company has once again reduced the prices of its top-selling electric vehicles, Model Y and Model 3, globally. This is amidst the lagging worldwide electric car sales and the ever-rising competition from Chinese manufacturers.
Bernice Harrison, in her column, discusses the increasing influence of influencers in our lives. She deliberates on the actions regulators are taking against influencers and how they are wielded for promotional purposes.
In terms of finances, Fiona Reddan in her column ‘Your Money’, examines the bond market, questioning if it can serve as a viable investment for individual investors. Simultaneously, Dominic Coyle addresses inquiries concerning the implications of an inheritance on welfare payments and the reason behind CRH’s apology for the effects of its US listing transfer on dividend payouts.
Following the announcement of Bankinter’s launch in the Irish banking sector last Friday, Cantillon ponders over why the Spanish bank chose an approach that was until recently quite unconventional for accessing the Irish market. Cantillon also points out the enduring costs that fall on every motorist due to uninsured drivers and discusses the preparedness of Irish businesses for the imminent AI wave.
Yanis Varoufakis, despite stepping down from his role as Greek finance minister during the euro crisis, continues to be a public figure. He remains steadfast in his principles and discusses why Ireland should have rejected ECB’s impositions.
Lastly, the Labour Court is scheduled to present its decision on a salary claim exceeding 20% over a three-year period by Ialpa on behalf of Aer Lingus pilots in the upcoming week. This has been reported by Emmet Malone.
Fingal County Council has turned down a planning application for a chic hotel in Howth, put forward by a firm owned by MMA fighter Conor McGregor. Details have been provided by Gordon Deegan.
In economic news, the Central Statistics Office (CSO) preliminary data indicates a recovery in the Irish economy in the first quarter of 2024, primarily driven by increased activity in the tech sector dominated by multinationals. GDP has reportedly increased by 1.1 percent when contrasted with the previous quarter as highlighted by Eoin Burke-Kennedy.
Still on the subject of the economy, inflation fell to a three-year low in April, reaching 1.6 percent according to the latest CSO flash estimate for the harmonised index of consumer prices, as reported by Eoin.
In other business news, European Green Transition (EGT), a company started by Cathal Friel in London earlier this month, secured an option to invest in a project to salvage copper from a leftover Cypriot mine that was functional for four decades up until 1978, as revealed by Joe.