Business Today Newsletter

Adequate house insurance warning, HealthBeacon rescue and too many regulators

The best news, analysis and comment from The Irish Times business desk

World of work: So, you think you’ve got influencing nailed. Your powers of persuasion have worked well in the past and there is no reason to think they won’t do so again. Not so fast. The number one thing that prevents people becoming better influencers is the assumption that they’re good at it.

Conn Ó Midheach's face
Conn Ó Midheach
Fri Oct 20 2023 - 06:36

The Society of Chartered Surveyors Ireland (SCSI) has urged homeowners to check that their house is adequately insured, as the average cost of rebuilding a home has risen by 12 per cent in the past year, writes Ellen O’Regan. The latest House Rebuilding Guide, published by the SCSI, shows that national average rebuild costs, which include demolition and site clearance, have increased by an average of 12 per cent over the past 12 months.

HealthBeacon’s former chief executive, Jim Joyce, who was ousted from his role last month after the medtech issued a sales warning, is among parties that have expressed an interest in taking part in a rescue investment in the company as it faces running out of cash, according to sources. Joe Brennam reports.

Stabilising interest rates could boost mergers and acquisitions (M&A), corporate financiers say as new figures show Irish deal making rising despite falling numbers of transactions globally. Irish mergers and acquisitions reached 116 in the three months ended September 30th, up 5.5 per cent on the same period last year, according to the Davy Corporate Finance Quarter 3 M&A review. Barry O’Halloran has the details.

Joe also tells us in Agenda that HealthBeacon is fighting for its very survival. With only enough cash to keep going for days, the board, which founder Jim Joyce left last Friday after stepping down as a non-executive director, is desperately trying to secure fresh investment or a sale of the business as its advisers also work on a backup – or parallel – option of filing for examinership.

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Almost exactly a decade ago Ireland’s pint-supping public was preparing for its biggest shock to the system since the smoking ban as British pub group JD Wetherspoon announced its entry to the market with its first acquisition here. However things haven’t quite worked out as planned, writes Ian Curran.

I have one rule in life: help people as you go along. And when you need help, get it back,” Cork’s Ann Kelleher tells Ciara O’Brien in our Interview of the Week. She is sharing the philosophy that has helped propel her to the senior ranks in global chip powerhouse Intel. Heading up the technology development division of the business, the Irishwoman has been credited with the turnaround of the unit by Intel chief executive Pat Gelsinger, where she was responsible for the research, development and deployment of next-generation silicon logic, packaging and test technologies.

In recent decades we have developed a plethora of regulatory bodies, covering a wide range of economic and social activity, including the Commission for Regulation of Utilities, ComReg, and the Irish Aviation Authority. While all of these bodies deal with different sectors, they also have major commonalities: how to regulate monopolies or dominant firms. Their number and diversity of practice does not make sense, argues John FitzGerald in his weekly column.

So, you think you’ve got influencing nailed. Your powers of persuasion have worked well in the past and there is no reason to think they won’t do so again. Not so fast. The number one thing that prevents people becoming better influencers is the assumption that they’re good at it. Olive Keogh reports.

The contraction of the All Ireland senior championships, with the football final being played on July 30th, is bad news for O’Neill’s, the sportswear brand synonymous with the GAA. Sales of replica county jerseys are down by 4 to 5 per cent this year, following a 20 per cent decline in 2022, writes John Burns in his Friday slot. He also finds that Coimisiún na Meán is snapping up staff from RTÉ, the Oireachtas media committee and media minister Catherine Martin’s office.

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