Eason plans to distribute about €14 million to shareholders over the next 12 to 18 months, and will hold an egm early next year. The Irish books and stationery retailer is taking the move following a period of strong trading by it and its Dubray brand, as well as having healthy cash reserves. Ciarán Hancock has details of the plan which is likely to include a €4 million dividend in December followed by a share buyback scheme.
Money lying idle in dormant accounts, as we know, can be put to good use. Now it has emerged that one of the largest players in Ireland’s €4.5 trillion international funds industry had approached former finance minister Michael McGrath about a potential move to realise the value of abandoned investments. Joe Brennan reports on the details of Mr McGrath’s conversation with Paul Kilcullen, chief executive of Bank of New York Mellon’s Irish unit, over just how such a scheme might work, and benefit many.
Annual house price inflation has now reached 8.4 per cent in Dublin, according to DNG’s latest analysis of the residential market. Laura Slattery has the third quarter data, which also shows a revised expectation of inflation levels in resales, as focus continues on the precarious state of home-purchasing in the Republic.
And while house prices continue their forward march, there does not seem to be any less of an appetite to buy them, if only purchasers could find options. Ian Curran looks at more data – this time from the Banking and Payments Federation of Ireland – which shows a continued recovery in the number of mortgage approvals, particularly among first time buyers.
News of the closure of three Wagamama restaurants this week caused some consternation in Dublin culinary circles. It may not all be bad news though, especially for staff. Ciarán Hancock reports on how owner Press Up Hospitality has been holding talks with more than 100 of them, intent on maintaining their services for future projects in two of the shuttered locations – an important move in an industry known for skills shortfalls.
We’ve all felt the pinch of inflation in recent times, but how does it come about and what helps ease it in time? The most recent jump in prices was brought about by various factors including the war in Ukraine and the Covid-19 pandemic. But in his column, John FitzGerald notes that during his lifetime, other energy crises have caused similar consumer troubles – namely the 1956 Suez crisis and the oil crises of the 1970s. How might decarbonising our economy offer future protections?
In the latest development around ongoing plans to redevelop the picturesque Howth Castle estate – a prominent north County Dublin tourist hotspot – new owners Tetrarch capital have been denied permission to build a new access road. It is the latest in a string of disappointments for the scenic property, this one relating specifically to €10 million plans for a retail, food and tourist destination. Gordon Deegan has been following the story.
It may be possible to see Howth from the viewing platform at the Guinness Storehouse in Dublin City, another tourist favourite but this time one with some good news. According to Fáilte Ireland, the Republic’s most popular fee-charging attraction was visited by close to 1.5 million people last year. In fact, as Ian Curran reports, Irish galleries and museums had more visitors last year than during the pre-Covid era.
Joe Brennan reports on the latest from billionaire Dermot Desmond’s stake development at Datalex, the airlines software provider, which is now set to rise to 49.3 per cent. The company issued its final results of a €25 million share sale on Thursday morning ahead of an extraordinary general meeting.
Virgin Media Television (VMTV) reduced its post-tax loss to €578,000 last year, according to new accounts. Laura Slattery looks at the numbers which show revenues at the company behind Virgin Media One and the Virgin Media Player rose 7.2 per cent last year.
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