Ireland is at risk of significant damage to its image, due to ongoing inadequacies in energy and water provisions, says a yearly audit by the National Competitiveness and Productivity Council. Eoin Burke-Kennedy reports that this could lead to challenges for small and medium-sized enterprises and influence the investment activities of globally mobile, foreign-owned corporations, if the nation doesn’t address its infrastructural upgrade issues effectively.
The Department of Finance is also anxious about prospective changes to compulsory workplace pensions. The proposed enforcement of a less stringent regulator approach to automatic enrolment, as compared to other private pension clusters, is creating worry, according to briefing papers formulated for the new Minister, Jack Chambers, writes Joe Brennan.
In other news, Bord na Móna reports a 30% reduction in revenue last year, with renewable energy sales also plummeting by €45 million. The semi-State commercial body compensated for these losses through asset liquidations, resulting in only a slight dip in profits, which amounted to €113 million before tax. Barry O’ Halloran provides an account of the situation.
Elsewhere, Axa, the leading general insurer in Ireland, has obtained consent from the central bank to start supporting health insurance for the Laya Healthcare enterprise it purchased for €650 million last year. Joe Brennan states that this development will likely cause its Irish premium income to double.
Elon Musk experienced an unfortunate day, with his Tesla organisation witnessing a $100bn reduction in value after poor results showing declining sales and profit margins. Nevertheless, this setback did not deter him from accepting an invitation to listen to Binyamin Netanyahu, the Israeli leader, address the US Congress.
Back in Ireland, despite escalating business expenditure leading to delays in plans for fresh centres in the past year, Primary Health Properties (PHP), owners of 21 primary care centres across Ireland, affirms its dedication towards expansion. This pledge comes with the announcement of interim results that align with estimations.
Dublin city planners have denied an application from the latest Clarence Hotel owners for retention of The Giddy Dolphin pub, which is now open in the Dollard House next door. The planners cited concerns about setting a regrettable example for future development.
Finally, Lidl’s Irish boss is set to transition to handle its French operations, causing a reshuffling in the discount store. Robert Ryan, chief customer officer at the Irish department, will succeed JP Scally in October, as cited by Fiona Keeley.
In the realm of technology, we endeavour to decipher the wider implications of the recent global blackout, triggered by a faulty software update from cybersecurity company, Crowdstrike. Experts suggest that the outage, projected to cost insurance companies billions, is more than a mere cautionary tale. As our world becomes increasingly interconnected, the risk also escalates. It’s predicted that a mundane piece of technology – whether overused, ill-maintained or improperly installed – could eventually trigger a real catastrophe.
In another dimension under Innovation, correspondent Neil Briscoe emphasises that combatting climate change swiftly necessitates a dual pronged approach. Both our homes’ heating systems and our automobiles must transition from gas and oil to electric power. These issues have been tackled separately up until now. An Irish-based company named Evhacs is breaking new ground by simultaneously working on these challenges, creating technologies that will make this twin process of electrifying our homes and vehicles a more simplified task.