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Web Summit in crisis, nursing home blame game and who came out on top from the budget?

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

The Web Summit has yet to name a replacement for Paddy Cosgrave as CEO. Photograph: Eric Luke / The Irish Times

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Peter Flanagan
Tue Oct 24 2023 - 06:34

The fallout from Paddy Cosgrave’s resignation as chief executive of Web Summit continues. The company is dealing with a “very small number” of refund requests for its upcoming Lisbon event on a “case-by-case basis”, the it said on Monday. Ciara O’Brien has the story. Cantillon meanwhile looks at the lack of direction at the top of a company of which Cosgrave was arguably the only public face.

The Government has played a “significant role” in the closure of 25 private nursing homes across Ireland in the past 20 months, a leading private nursing home group has alleged. As Ian Curran reports, CareChoice, which operates 15 homes in the Republic, says the Department of Health is operating “discriminatory” policies at a time of rising care costs

In Your Money, Fiona Reddan meanwhile looks at who did best out of Budget 2024.

Companies behind the Gresham Dublin and the five-star Castlemartyr resort in Co Cork last year made strong recoveries after the pandemic. Gordon Deegan has read the accounts.

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The family-owned McCabes Pharmacy group is to be bought by PHX Ireland, the owner of the LloydsPharmacy chain in Ireland. Colin Gleeson reports.

Colin also reports that Invest Northern Ireland has hired top IDA executive Kieran Donoghue as its next chief executive, in a blow to the State’s investment agency.

TikTok has secured permission from the High Court to challenge the Data Protection Commission’s “disproportionate” decision to fine it €345 million for failing to protect children’s privacy on its social media site. Aodhan O’Faolain reports,.

In her column, Laura Slattery looks at who would want to buy the UK’s Daily Telegraph, which finds itself up for sale. Short answer: almost everyone.

Medtronic hopes a new treatment for high blood pressure, developed in part in Ireland, will become a new global standard of care. Dominic Coyle reports.

Ireland collected €4,500 in corporate income tax revenue per inhabitant last year, five times as much as France and Germany, according to a new report which pinpoints Ireland as one of the main “tax havens” in the world. Eoin Burke-Kennedy reports.

Thousands of workers may have been provided with “ammunition” to claim employment rights by the Supreme Court decision last Friday in relation to the tax status of Domino’s drivers but for the moment they face the prospect of arguing their individual cases at the Workplace Relations Commission Emmet Malone looks at the fallout.

Also In Your Money, Dominic Coyle answers questions on who will benefit from the mortgage interest reliefs announced in the budget, and how to benefit if renting a room out compared to AirBnBing it.

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