Tax take tumbles, Airbnb job cuts, and Covid-19’s economic turmoil spreads

The coronavirus crisis is expected to shrink the Government's tax base by €14 billion this year, effectively wiping off three years of gains. Eoin Burke-Kennedy reports. To plug the gap, one move being mooted is an increase in gift or inheritance tax.

Activity in the State's services sector fell to its lowest on record with the decline the fastest registered in the history of the survey, which has been running for 20 years.

In his column this week, Eoin explains how flattening the disease curve means steepening the unemployment curve.

Proving his point, last night Airbnb said it is cutting 25 per cent of its workforce as the coronavirus pandemic continues to pummel the travel sector .

Shorter matches being considered for Premier League return

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Coronavirus: White House considers disbanding task force

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Airbnb to lay off 25% of its workforce

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Irish tech in use in Covid-19 drug trials

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Ireland's pharma sector remains confident of its strength in the face of US president Donald Trump's latest broadside, but not complacent. Dominic Coyle on the industry's response.

Dominic also talks to one of Ireland's top Michelin-starred chefs who warns social distancing rules will make it impossible to open most Irish restaurants after Covid-19.

In the aviation world, amid ongoing job cuts, Qantas' Irish chief executive Alan Joyce says it will be 'some time' before pre-crisis demand for international travel returns.

Derek Scally reports from Berlin on yesterday's meeting between chancellor Angela Merkel and German car-makers who sought financial aid to cushion the impact of the crisis on the all-important industry.

Finally, in commercial property, Ronald Quinlan reports how Microsoft is to rent 47,000 sq ft at Dublin Landings – enough room for 400 plus workers.