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Interest rates warning, women in the boardroom and how to manage rent controls

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

ECB chief economist Philip Lane warned more interest rate increases may be needed. Photograph: Dave Meehan

Peter Flanagan's face
Peter Flanagan
Tue Mar 7 2023 - 06:46

Mortgage rates are going up, and there is little sign of any slowdown. ECB chief economist Philip Lane warned on Monday rates may have to go further to definitively get inflation under control. Eoin Burke-Kennedy has the story.

In Your Money, Dominic Coyle answers a question on the impact of rent controls on a so-called accidental landlord, and whether having a house repossessed in the past could lead you exposed in the future. Fiona Reddan meanwhile assesses why we have Europe’s most expensive housing market. If you’d like to read more about the issues that affect your pocket try signing up to On the Money, the weekly newsletter from our personal finance team issued every Friday to Irish Times subscribers.

A new report shows woman representation at board level exceeds targets set for the end of this year, but numbers at senior executive level continue to lag. Ciara O’Brien reports.

Ciara also reports that Microsoft is to cut a further 60 jobs from its Irish workforce as part of global cutbacks announced in January. That takes the overall cuts to about 180 in Ireland.

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Insulation maker Kingspan is to charge its own internal business units a notional carbon tax in a bid to drive down emissions, as part of efforts to cut emissions by 90 per cent by the end of the decade. Eoin has the details.

Lioncor Developments is appealing a Dublin City Council decision to reject its plans for 364 apartments on grounds formerly part of Terenure College in Dublin. Ellen O’Riordan reports.

Cantillon asks, on the back of Philip Lane’s comments, if firms are profiteering off high inflation, while looking to the UK as Ireland seeks to nail down pension auto-enrolment rules.

Plenty of us can’t wait to get away this summer but it’s going to cost us: Many will dip into their savings this year to spend an average of €2,800 each on holidays as travel costs soar, says a new survey. Barry O’Halloran has read the report.

Staying with high prices, shortages and soaring prices remain the standout features of the Irish supermarket experience, with grocery price inflation reaching a record high of 16.4 per cent in the 12 weeks to the middle of last month, according to data from retail analysts Kantar. Conor Pope has the details.

The number of passengers carried by both Dublin and Cork Airports exceeded pre-Covid levels during February, Colin Gleeson reports, according to figures provided by operator DAA.

Conor also reports that Meta’s WhatsApp has promised to be more transparent and less aggressive when updating its terms and conditions.

As Laura Slattery writes though, what Meta does with WhatsApp can have a profound impact on practically anybody with a smartphone.

Laura also reports on former Virgin Media executive Bill Malone, who has launched a new TV production company.

Paddy McKillen’s battle with the Qatari owners of the parent of Claridges Hotel in London has hit the headlines repeatedly in recent months. Now the company that owns the hotels has said it does not expect a material impact from the row. Gordon Deegan has read the accounts.

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