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Budget 2023, Ballymaloe serves up a profit, and cost of retrofitting your house

Business Today: the best news, analysis and comment from The Irish Times business desk


Sterling steadied on Tuesday, but was perched above its record low only thanks to soaring yields on British debt and the hope of a response from policymakers or politicians, with its gyrations unnerving markets to the benefit of the dollar. On Monday the pound plunged, finding a record low of $1.0327 as investors question Britain’s economic gambit of unfunded tax cuts to spur growth.

The company behind the Ballymaloe Country House Hotel in Midleton, Co Cork, founded by the late Myrtle Allen, recorded a €400,000 profit in 2021, wiping out the almost €350,000 loss it incurred in 2020 due to the impact of the Covid-19 pandemic.

With Budget 2023 being unveiled today, Colin Gleeson looks at what cost of living measures we can expect.

Rock Extraction, a Co Antrim-based engineering company, has secured £500,000 (€555,000) to further develop its Volt 100k rock breaking tool, a cleantech alternative to explosives used in mining globally. Ian Curran has the details.

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Latest filings show the Big Tech companies were busy lobbying Government in recent months, with data centres, semiconductors, legislation and the metaverse among the issues on the minds of the Irish subsidiaries, writes Cantillon.

In our personal finance feature, Joanne Hunt looks at the likely costs and the potential benefits of retrofitting your home at this time of soaring energy bills.

In Q&A, a reader has a query regarding Fair Deal and the carer’s rights in the family home when the parent they were minding needed full-time care. Is there some kind of deferral in paying the loan back as this is where the carer resides? Dominic Coyle offers a view.

Never mind the politics, it’s sport and music that should not mix, argues Laura Slattery in her weekly media and marketing column.

In Me & My Money, Claire Mac Evilly, chief executive of the Airfield Estate in Dundrum, tells Tony Clayton-Lea about a “beautiful pair of silver sparkle designer killer heels” that she bought during Covid for a couple of hundred euro as a present to herself.

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