The Irish Stock Exchange, otherwise known as Euronext Dublin, intends to set up a ‘springboard’ marketplace to cater to start-ups and rapidly growing small to mid-sized firms. This is aimed at revitalising its equity market that’s been affected by the exit of dominant players such as CRH, Flutter Entertainment, and Smurfit Kappa, according to the Sunday Times. Known as Euronext Access, the new market will kick off by the year-end and will offer lenient rules for firms looking to raise public capital, yet fail to meet the main market’s entry criteria.
A story from the Sunday Business Post indicates possible strain on the Republic from the US government as a result of the Dublin Airport cap. Barclays, a UK-based bank, shared a research note with investors asserting that the US Department of Transportation may take action following the denial of slots to significant US airlines for the winter season. The Irish Aviation Authority set a limit on Dublin operations to 14.4 million passengers between October 27th and March 29th, to comply with the airport’s overall planning condition of 32 million passengers annually. This follows a report that less than 3% of airline slot requests at Dublin Airport for the winter have been granted.
Dave’s Hot Chicken, a fast-food chain supported by celebrities Samuel L Jackson and Drake, is reportedly looking at the Republic as part of its growth strategy, according to the Sunday Independent. Having launched in 2017, the venture is currently the quickest expanding fast food enterprise in the US, aiming to establish 60 branches across the Republic and the UK. The company confirmed Ireland is part of their plan, but the number of proposed outlets remains undetermined.
The Sunday Times reports that a microbrewery venture on the north side of the capital, near the Royal Canal in Glasnevin, is being planned by Cork brewer Stephen Guiney alongside Dublin publicans Noel Andersen and David Chawke. The Changing Times Beverage Company, involving the aforementioned trio, has reportedly sought planning permission from the Dublin City Council to build a 539 sqm brewery in a warehouse owned by a subsidiary of Noel Keating’s Kepak Group.
The Observer reported that BP, a leading oil company in the UK, anticipates that the worldwide need for fossil fuels – a primary culprit in climate change – is likely to reach its maximum next year. This peak is expected to conclude the upward trend in global CO2 emissions, given the increasing adoption of wind and solar energy. The prominent forecast from BP suggests that oil consumption will continue to rise until around 2025, culminating at approximately 102 million barrels daily.