A report by Irish Life has uncovered that women, on average, need to clock in an additional eight years at work to equate to the same pension as their male counterparts. Investigation into the 130,000 members of defined pension schemes managed by the company revealed a 22% disparity in pay between the sexes. Eurostat data also found that, in general, women take a six-year hiatus for caring responsibilities. Dominic Coyle reviewed the research.
Nua Money, a mortgage firm supported by the beef moguls from Wexford, the Allens, has procured a license from the Central Bank. Plans are in place to start lending via an initial consortium of 10 brokers at the close of June, sources say. The details were provided by Joe Brennan.
Barry O’Halloran reveals that Flutter, Paddy Power’s parent company, is considering staff reductions in Dublin and other locations, including moving certain operations abroad to cut costs.
Barry further uncovers that DAA, a state firm, might request planners to increase passenger restrictions at Dublin Airport from 32 million per annum to 36 million this autumn. CEO Kenny Jacobs proposes this as a quick solution to overturn the contentious cap.
John Thornhill, in his column Net Results, emphasizes that AI companies must strive harder to gain public trust as the industry progresses.
Bank of Ireland has initiated proceedings against Ailmount Limited, owned principally by ex-shareholders of the brokerage service it purchased in 2022, Davy. Threatening to retain €15 million pertaining to historical lawsuits against Davy, the bank has taken legal action. The proceedings have been reported by Barry J Whyte.
Dominic also indicated that Aon warns if employers and the Government do not proactively promote the scheme’s benefits, workers might perceive auto-enrollment as a tax.
Laura Slattery reports that RTÉ’s intention to amplify commissioning from independent production firms is inadequate, according to Screen Producers Ireland (SPI). An imminent SPI report insists that by 2030 all screen content, barring news and ongoing affairs, should be produced by the independent sector.
Linked Finance, a peer-to-peer lending platform, announced its intentions to increase lending by 25% over its 2024 goals. This means in the upcoming year it anticipates lending €100 million, marking a surge from this year’s expected €80 million and €59 million in 2023. The news was covered by Ciara O’Brien.
In business news, ex-Greencore boss, Patrick Coveney, has started investing in his new company, spurring conversations as to why, at the same time there is disappointment over the cessation of the daily print edition of London Evening Standard according to Cantillon.
The directors of a company based in Dublin have moved to put into action their plans to wind up the company due to sanctions imposed by the US treasury department for trading activities that allegedly helped fortify Russia’s military-industrial foundation. Barry J Whyte has additional information on this.
A recent survey revealed that after the VAT rate for the hospitality sector in Ireland returned to 13.5% in the previous September, up to two-thirds of coffee houses and restaurants believe it poses substantial risk to their business. This comes as business failures in the sector are on the rise. Joe has this covered.
On the innovation front, Fiona Alston focuses on the resurgence of the defence sector amid a more precarious world. Tabby Kinder is evaluating if AI could be a tool in restoring the beleaguered city of San Francisco.
In the realm of technology, Ciara O’Brien presents coverage regarding the role Apple’s Ireland base in Cork plays in enhancing the lifespan of its products, and reviews a gadget that utilises technology to alleviate insect bite discomfort.
Finally, Olive Keogh had an interview with Lua Health. This company, a spin-off from the University of Galway created by Mihael Arcan and Fionn Delahunty, has devised a system that uses human language analysis to detect early signs of mental health decline in workers.