Central Bank governor Gabriel Makhlouf delivered his starkest warning yet on the potential downside for the Irish economy from any tariff and tax policy changes that might deter US companies from locating in the State. Peter Flanagan follows his speech to the Dublin Chamber of Commerce on a day Microsoft president Brad Smith reassured a European audience that it would not be ordered out of the EU by anyone.
Glanbia executives faced shareholders yesterday in a bruising and chastening encounter at a time when the group’s share price has tumbled and investors are raising doubts over its current strategy. Eoin Burke-Kennedy was there.
The vast majority of taxpayers are compliant, Revenue said as it released its 2024 annual report but it did note that it is now chasing 7,000 businesses that took advantage of debt warehousing of more than €100 million in tax obligations during the Covid pandemic and refused to engage subsequently with Revenue over how they might start repaying the money owed. Mark Hilliard has the report.
PTSB, the smallest of the three remaining indigenous banks says its share of new mortgage lending rose to more than 20 per cent in the first quarter of the year. Joe Brennan has the details.
Microsoft and Meta both reported quarterly figures that exceeded Wall St projections after US markets close last night. Investors gauging their performance on AI, pushed the shares ahead.
Meanwhile, in Dublin, content moderators in Meta’s Facebook hoping to sue the company for psychological injuries in the Irish courts have been turned away because the companies that employed them directly to carry out the work were based in other countries.
IPL Plastics, a company that traces its roots back to Philip Lynch’s IAWS group, is merging with Dutch peer Schoeller Allibert to create a business worth €1.5 billion, of which current IPL shareholders will own 55 per cent. Joe Brennan has the details.
Trade unions representing worried workers at Short Brothers aerospace manufacturing site in Belfast – currently owned by Spirit AeroSystems – met senior UK ministers and politicians yesterday over fears that as many as 2,000 of the 3,500 jobs remains under threat.
In her column, Ciara O’Brien casts a jaundiced eye at Elon Musk’s latest extravagant promises for the potential of his much-hyped robotaxis. Robotaxis will come, she agrees, but it might be more at a crawl than a March.
In Inside Business this week, host Ciarán Hancock looks at the impact of Donald Trump’s first 100 days in office on markets with Aidan Donnelly, head of global equities at Davy stockbrokers, who is pressed on where markets might go for the rest of the year.
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