Banking Review, SSE dispute, An Post’s gender pay report

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


The Government’s review of the banking sector is the main story this morning. A day after The Irish Times broke the news that Minister for Finance Paschal Donohoe would ease rules around banker pay and bonuses, he insisted there would be no change to an 89 per cent super tax on bonuses of more than €20,000. Joe Brennan has the story.

Joe and Cliff Taylor also have the details of the wider review, which include protecting access to cash services at banks by law, while Joe analyses what the report means for the banking industry overall.

The family of former An Post chief executive Donal Curtin are suing SSE in a row over a proposed wind farm in Co Offaly, with as much as €45 million at stake. Mark Paul has the details.

An Post is the first Irish company to publish its gender pay gap report since the Government made it a legal requirement. Laura Slattery has the details, and explains why a raft of such reports are likely between now and the end of the year.

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The High Court has awarded more than €500,000 in damages to a man against receiver Michael McAteer who acted “without lawful authority” in possessing five properties and selling three without a court order.

The number of travellers to Ireland continues to recover after the pandemic, with 1,633,800 air and sea passengers arrived in Ireland from overseas in October. Ian Curran read the CSO’s report.

Michael O’Leary has suggested reforming air traffic control could cut some of the delays and cancellations that hit travel last summer. Barry O’Halloran has the details.

Dalton Philips had his first earnings event as Greencore CEO with its full year results. It’s fair to say he’s bullish on the sandwich maker. Colin Gleeson and Eoin Burke-Kennedy report.

Energy traders were one of the few big beneficiaries of the surge in oil and gas prices after Russia invaded Ukraine. Ian Curran reports on Dublin-based ElectroRoute, which saw its profits surge.

One of Johnson & Johnson’s most important entities is based in Ireland, and Gordon Deegan reports on how profits at the unit jumped more than €3 billion last year.

SMBC is the latest Dublin aircraft leasing company to join a growing list of businesses pursuing legal actions against insurers over aircraft stuck in Russia in the wake of the invasion of Ukraine. Simon Carswell reports.

Inflation continues to hurt people in their daily lives, and as Eoin writes, the latest data from the CSO shows wages rising at about half the rate of prices.

Dublin Zoo last year enjoyed record numbers and returned to profit as gate income at the entity that operates the zoo and Fota Wildlife Park in Cork almost doubled to €14.16 million. Gordon Deegan has seen the accounts.

The Ireland Strategic Investment Fund (Isif) will earmark some of its cash to develop biogas, a fuel made from farm waste, the latest investment by the fund in the ESG space. Barry O’Halloran reports.

The Government has appointed Siún Ní Raghallaigh as the new chair of the RTÉ board following the retirement of Moya Doherty. Pat Leahy and Mark Hilliard report on the change at the state broadcaster.

Elon Musk’s latest issue since buying Twitter: Apple has apparently cut back on its advertising spend with the social network.

Independent production companies will receive “not less than 80 per cent” of the funds generated by the Government’s proposed content levy on streaming services and broadcasters operating in the Irish market, Laura reports, while at least 25 per cent of the money raised will be used to make programmes in the Irish language.

In commercial property, Ronald Quinlan reports that flexible workspace provider Grafter is to open its latest location at 6-7 St Stephen’s Green in Dublin city centre while Mulberry has signed to lease a store nearby on Duke Street.

Meanwhile Red Carnation, which owns Ashford Castle, is seeking €25 million for Hatch Hall in Dublin.

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