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Ganley’s contempt of court in New York, Bread 41 plans new bakeries, and the perils mangling a name

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

Eoin Cluskey of Bread 41 on Pearse Street in Dublin 2 He is planning to expand the company with the addition of new outlets over the next two years. Photograph: Marie-Claire Digby

Ciarán Hancock's face
Ciarán Hancock
Mon Dec 18 2023 - 06:26

Declan Ganley, the Irish telecoms entrepreneur, has been found in contempt of court by a judge in New York over his refusal to hand over a number of Irish assets to help settle a near $20 million (€18.3 million) debt dispute. Barry Whyte reports.

The popular Bread 41 bakery in Dublin’s city centre has become the latest Irish company to secure the global B Corp sustainability certification, which co-founder Eoin Cluskey believes will help underpin a growth strategy that aims to add three to five new bakeries to the company over the next two years. Ciarán Hancock has the details.

In our first personal finance Q&A of the week, a CRH shareholder expresses their frustration at their ongoing difficulty in finding a satisfactory resolution to an issue with their dividend payment, which had US taxes wrongly deducted from the total. Dominic Coyle offers a view on this ongoing saga. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.

Mispronouncing a colleague’s name at work can be hazardous – and not just if it’s the boss, writes FT columnist Pilita Clark.

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In our Opinion piece this week, Ibec director Fergal O’Brien explains why some €4 billion in extra payroll costs to be imposed by the Government from January will prove too heavy a financial burden for many Irish SMEs who are already struggling to survive.

In Me & My Money, Santis O’Garro, a money mentor, author and ambassador for Get Ireland Active, explains why having a “physical connection to your money is invaluable”. She was speaking with Tony Clayton-Lea.

Smurfit Kappa is calling on EU environment ministers to back proposals to make all packaging recyclable by 2030. The company says it supports the EU’s revised packaging and packaging waste regulation, which the council of environment ministers will discuss at a critical meeting on Monday. Barry O’Halloran reports.

Ryanair chief executive Michael O’Leary is on track for a bonus of €100 million based on share awards, according to a report in the Financial Times.

Regulators should not publish a paper on data centres before Government has asked experts and the industry to consider the future of energy in the Republic, argues Fianna Fáil TD Barry Cowen. Barry O’Halloran reports.

Will investors look beyond the so-called Magnificent Seven stocks – Apple, Microsoft, Nvidia, Alphabet, Meta, Tesla and Amazon – next year? Stocktake offers a view.

Many people do not believe financial services companies will keep their environmental and social pledges, a new survey from Royal London Ireland has found. Barry O’Halloran has the details.

Barry also has a story on how an Irish company that has developed technology that gives four-dimensional views of the heart has raised more than €20 million to help commercialise the product.

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