Frictions are emerging between Fianna Fáil and Fine Gael over election business pledges as the pair prepare for talks on forming the next government, says the Business Post.
Both made different promises on VAT, PRSI, energy and other costs to lure business owners’ votes last month.
“Fine Gael is expected to insist a mini-budget on business costs next year is a red line, however Fianna Fáil is set to dig its heels in on its own proposals to reduce energy costs outlined in its manifesto,” the newspaper reports.
Primark opens four more stores
Irish-founded fashion chain Primark spent more than pennies last week when it opened four stores around the world in one day, according to the Sunday Times.
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“In a €45 million investment, the company is creating 580 jobs in the new shops, which are located in Glasgow, Tours in France, Madrid and New York,” says the newspaper.
Primark – called Penneys in the Republic – plans to open 560 stores by 2026. Last week’s move brought its total to 457, giving it a presence in 17 countries. The business has so far not moved online.
Swiss dental group buys Irish practice
Investors are brightening Irish dentists’ smiles with Swiss group Eisvogel, the latest to shell out for an Irish practice, says the Sunday Times.
The group is backing Shields dental and orthodontic clinics, the company set up by twin brothers Cormac and Conor in 2004 that has practices in Dublin, Limerick and Tipperary.
“The deal comes as Lonsdale Partners, a UK-based private equity firm, makes its first acquisition since raising a €10 million fund to buy dental practices across Ireland,” says the paper.
“The company has bought OCM Dental, a third-generation dental practice in Sligo for a price thought to be in the region of €1 million.”
Jump Zone in new venture
Jump Zone trampoline park founders Dan Begley and Paul Quinn are leaping into a new venture at Leopardstown Racecourse in Dublin dubbed Super Social, according to the Business Post.
The venue will include high-tech mini-golf, digitised dart bays, shuffleboards, interactive gaming, and a restaurant and bar.
They want to cash in on new social trends that have ended the days of “people going into a bar and drinking 10 to 15 pints”.
Berkley bets on UK housing market
The Financial Times reports that UK housebuilder Berkeley has bought its first new site in two years as it bets on recovery in the country’s housing market.
Chief executive Rob Perrins said that the British Labour Party government’s policy to build 1.5 million houses partly sparked the move to buy a site with space for 220 homes in Berkshire in England, Berkeley’s first such deal since 2022.
“They are on the right path and have done a good job so far,” said Mr Perrins of the government, elected with a large majority earlier this year.
Rare earths refinery boost
Also in the FT, Australia’s government has agreed to boost a loan to a company building a refinery for rare earths, critical to the rechargeable batteries needed to aid the global shift from fossil fuels.
The country’s government will increase an original A$1.2 billion (€730 million) loan to Iluka to build a rare earths refinery by A$400 million.
Iluka hopes to break China’s stranglehold on rare earth processing which gives the Asian giant huge influence and which last week became a cause of further friction with the US, to where Beijing banned the export of some key minerals.
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