Recently, data centres have come under scrutiny due to their escalating power consumption, which exceeds the annual usage of all city households within the nation. This has resulted in an apparent freeze on extra data centre links to the power grid. However, an expert suggests that the issue lies not with the data centres, but with insufficient investment into new power facilities. Barry O’Halloran provides a detailed account of the situation.
The Irish League of Credit Unions (ILCU) believes that an increase in the borrowing limits of credit unions would prove significantly useful to prospective homeowners. With evident and growing interest for loans within the sector, the ILCU contends that due to the current housing market conditions, they should be able to sanction loans more readily than presently permitted. This is elaborately discussed by Ian Curran.
In the ‘Your Money’ section, Dominic Coyle discusses why unmarried couples are often excluded from receiving inheritance tax reliefs. Meanwhile, Fiona Reddan explores how champagne sales might offer insights into the health of the Irish economy.
There was an unexpected surge in take-home grocery sales during the summer, attributable to a host of sports events. Market research company Kantar reveal that supermarket sales boosted seven per cent in the four weeks leading up to August 4th, a timeframe that included the Paris Olympics and two All-Ireland finals. Full coverage of this story is provided by Eoin Burke-Kennedy.
Unmarried couples are facing exclusion from obtaining inheritance tax discounts.
Lack of infrastructure development and skills acquisition may pose a serious obstacle to overseas investment.
Shopping online appears to curb impulsive buying behaviour.
Experiencing the need to apologise for sarcasm is a common issue faced by Irish individuals in the US.
Eoin suggests that the government is being pressurised to reinstate Section 23 tax exemptions for builders and developers in the forthcoming budget to stimulate growth in the rental property sector. When the original tax mitigation strategy was in place before economic downfall, property investors were given generous tax relievers for the refurbishment or purchase of properties (predominantly in urban areas) intended for the renting market. The Institute of Professional Auctioneers and Valuers insinuate that permitting these reliefs would offset the tax on rental income for an investor when acquiring a new property for the purpose of renting.
Laura Slattery, in her editorial, analyses the current Dublin radio market following newly released audience statistics, which have some unexpected results.
Cantillon evaluates how the Irish economy is now viewed by ratings agency Moody’s. He also considers the potential implications of the proposed London City Airport expansion on Irish commuters frequently travelling to London.
Ted Baker, the fashion retailer, has revealed its decision to shut all its outlets in the UK and Ireland this week. This move essentially eliminates the brand’s presence on the high streets and is set to risk over 500 jobs. By Tuesday’s end, its remaining 31 stores in the UK and Ireland will be closed and the website has reportedly been shut down. The fashion brand has a workforce of 78 people in Ireland.
Musgrave has named Luke Hanlon as the new managing director of SuperValu and Centra, two dominant grocery retail and convenience brands in Ireland. The company stated that Mr Hanlon has immediately assumed this position after an extensive search for a new executive was conducted. This report is brought by Colin Gleeson.
Unite, a union representing plumbers, fitters and welders on construction sites nationwide is planning a series of one-day strikes that might potentially shut down large construction projects. These plans have been condemned by employers, who claim the union agreed to a multiyear pay deal less than a year ago. Unite is now demanding the revival of a travel allowance equating to more than 12% of the pay. This story is reported by Emmet Malone.
Finally, Nicky Blake Knox, the commercial director at Conrad Hotel in Dublin, elucidates whether she tends to save or spend money.