The implications of the 2025 Budget are becoming apparent, affecting individuals’ personal incomes and possibly paving the way for an imminent general election.
Pharmaceutical heavyweight Pfizer has announced further reductions in its manufacturing workforce in Ireland, struggling to cope with the post-Covid reality in the pharmaceutical industry. Reports suggest that roughly 210 positions will be phased out across three sites: Grange Castle in West Dublin, Newbridge in Co Kildare, and Ringaskiddy in Co Cork. This accounts for just below 5% of the company’s manufacturing staff base in Ireland.
In another development unrelated to the budget, the High Court has been informed of Meta’s “extraordinary” request, mandating business tycoon Denis O’Brien to join over 700 other defendants in his lawsuit regarding alleged falsified online adverts that linked him to fraudulent financial schemes and promotions. Mary Carolan was present in court.
Further, Irish offshoots of the American investment company Cerberus Capital Management garnered nearly €33 million in the last year by acquiring Irish debts during the financial crunch, as per new data. The particulars are provided by Barry O’Halloran.
Star columnist, John McManus probes the turbulent career trajectory of Johnny Ronan, contemplating if the property developer will rope in a business partner for upcoming projects.
RTÉ’s commercial division saw a twofold increase in profits before tax, totalling €11.44 million last year, thanks to revived digital distribution contracts for television programmes associated with RTÉ Player licensing and expenses related to Toy Show The Musical winding down. This is brought to light by Gordon Deegan.
Gordon also talks about Stripe’s UK subsidiary, where the average salary now exceeds €425,000. Meanwhile, Denis O’Brien has finalised the acquisition of an additional hotel in Portugal, expanding his business portfolio in the country.
Lastly, businessperson Illan Power, who dismissed accusations of irresponsibility regarding information submitted to the Companies Registration Office (CRO), will now be subject to a Circuit Court jury trial due to a “re-examination” of the case by DPP, informs Tom Tuite.
The sale of electric vehicles has seen a decline of 25.7% compared to the previous year, contrasting starkly with the general new car market which only experienced a slight 1.4% reduction up until the culmination of September. Michael McAleer has presented the latest data from The Society of the Irish Motor Industry (SIMI), indicating that the total new car sales for the current year stand at 118,926, out of which 16,133 are entirely electric vehicles, comprising 13.8% of the market. This exhibits a fall from the previous year where over 18% of new car sales were electric vehicles.
In the real estate sector, Ronald Quinlan disclosed that The Queen’s pub in Dalkey has been reintroduced to the market, priced at €3.45 million. Furthermore, he provided information about a prosperous Irish investor making purchases on Henry Street in Dublin, and a parcel of land located near Dublin airport that is available for acquisition.