ECB hikes again, Galway jobs, and the four day work week

The European Central Bank hiked its interest rates again on Thursday, and give little indication that it would be pausing any time soon. Ian Curran reports on ECB president Christine Lagarde’s hawkish press conference while Conor Pope and Pat Leahy have the domestic implications of the move. Cliff Taylor notes that it piles pressure on the Government to ease pressure on mortgage holders.

Some good news, as US medical device company Dexcom announces plans to invest €300 million over the next five years to build a new manufacturing site in Co Galway, which it says will create “up to 1,000 high-skilled” jobs in the region. Ian Curran reports.

The National Competitiveness and Productivity Council has warned housing is a key problem for Ireland’s attractiveness to investment, I report, even as the overall picture for the nation’s competitiveness remains positive.

An audit of Ireland’s implementation of a European Union scheme to ease trade by allowing lighter customs checks for ‘trusted traders’ has found inconsistencies in its implementation and that business operators need more clarity. Naomi O’Leary reports.

Trinity Business School dean: ‘AI brings a huge threat to people’s ability to learn and to upskill’

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We must do more to welcome Irish people returning home

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Buyers of older homes may pay thousands more per year in mortgage repayments

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Family affairs: How Ireland’s newly rich are putting money to work in secretive firms

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Ires Reit earned a partial victory over activist investor Vision Capital with all its directors being re-elected to the board. Still, the pressure on Ireland’s biggest landlord hasn’t eased up yet. Joe Brennan has the details.

In Agenda, Emmet Malone assesses the future of the four day work week, while in Any Other Business John Burns looks at rugby club London Irish’s woes as well as economists’ reaction to Michael D Higgins comments, among others.

In his column, John FitzGerald looks at the EU’s updated fiscal rules, and what they may have in store.

In the interview of the week, Ciaran Hancock sits down with Mason, Hayes & Curran managing partner Will Carmody.

For World of Work, Olive Keogh looks at the importance of company culture when it comes to attracting new recruits.

Irish-based venture private equity group VentureWave is leading a $40 million investment in angel investing and trading platform Funderbeam that will see it take a majority stake in the company. Ciara O’Brien reports.

Solicitor Ammi Burke lost her challenge to the rejection of her claim of unfair dismissal by law firm Arthur Cox following her refusal to stop reciting her objections while other lawyers were attempting to speak. Ellen O’Riordan was in court.

In a notable move, CRH chief executive Albert Manifold has joined the board of Mercury Engineering, one the Republic’s largest mechanical and electrical contractors, as he expands his non-executive roles. His current contract with CRH is due to expire next year. Joe Brennan has the story.

AIB raised its full-year forecasts on Thursday after posting “a very strong first-quarter performance”, even as parts of the wider banking sector overseas succumbed to volatility not seen since the financial crisis 15 years ago. Joe has the details, while Laura Slattery attended the bank’s agm which saw it assailed for its low interest rates on deposits.

He may have played havoc with Munster’s home fixtures, but Income from Ed Sheeran concerts at Thomond Park last summer helped to almost triple revenues at the stadium firm to €1.52 million last year. Gordon Deegan has the details.

Gordon also reports on Johnny Ronan’s failed attempt to build 44 apartments near Donnybrook in south Dublin, after An Bord Pleanála shot down his application.

Building materials distributor and DIY retailer Grafton Group maintained a steady course in the first four months of the year, with group revenue rising almost 3 per cent, in line with expectations. Ciara has the story.

Ciara also reports on Glanbia, which upgraded its full-year guidance on improved outlook for margins in its performance nutrition business in the second half of the year.

It’s had a rocky few years, but Datalex, the Irish airline retail software company, said on Thursday it saw a strong recovery in airline activity across all geographies in the first three months of 2023, after its pretax loss more than doubled last year to $11.4 million (€10.3 million). Joe has the details.

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