What auto-enrolment could mean for future pensioners

Good news for workers as plans to bring to auto-enrol staff into pensions draws near. Compulsory workplace pensions could deliver a pot of close to €890,000 for a 23-year-old worker on the average industrial wage being signed up for the scheme when it comes into force, according to Big Four accountants EY. Dominic Coyle has the details.

With the West coast of Ireland touted as a jumping off point for huge wind farms in the Atlantic, Kevin O’Sullivan looks at what that could mean for the nation’s ports that could be used for wind farm traffic. In short, there would be enormous changes.

Workers in Northern Ireland are more likely to be poorly educated, to earn low pay and to face greater difficulties getting work if they are women with children, older women, or lone parents, according to new research. Mark Hennessy reports.

Genuity Science Ireland, a company that controls an enormous database of Irish genomic data, incurred losses of $22.7 million (€20.9 million) in 2022 as its revenue dropped again, new accounts show. Formerly known as Genomic Medicine Ireland, Genuity made $7.1 million from selling access to its database, down from $8 million in 2021, and $17 million in 2020. Having made a loss for the year of $22.7 million, the company now has accumulated losses of $121.4 million. Barry J Whyte reports.

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Trump Media’s convenient complaint about short sellers

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Insurers have come under fresh pressure from the Government and business lobby groups to cut premiums after the Supreme Court ruled on Tuesday that judged-approved guidelines, reducing awards for mainly minor personal injuries, have legal effect. Mary Carolan and Joe Brennan report.

An Bord Pleanála has given the green light to contentious plans for a new 200MW €1.2 billion data centre campus on the outskirts of Ennis, Co Clare. The Ennis data centre campus is to comprise six data halls covering 145 acres or 1.3 million sq ft of land adjacent to the Tulla Road on the eastern outskirts of Ennis near junction 13 on the M18 motorway. Gordon Deegan has seen the planning documents.

Gordon also reports that Johnny Ronan’s planned 17-storey, mixed-use scheme for Dublin’s docklands “will have a brutal and disproportionate impact on the local residential environment” according to an objection by a management company acting on behalf of 186 apartment owners at Clarion Quay in Dublin 1.

Smurfit Kappa’s decision to postpone the retirement of chairman Irial Finan, who has already served beyond corporate governance norms, has been accepted by a leading investor advisory firm as the paper packaging giant proceeds with a plan to merge with US peer WestRock. Joe has the story.

Joe also reports that Bank of Ireland has moved to rework its fixed-rate green mortgage range to offer customers discounts for homes with energy-efficiency ratings of A right down to G. The new so-called EcoSaver mortgage will replace the bank’s current green mortgage offering effective from April 18th for new business or existing customers who move to the new product from another one with the bank, it said in a statement.

In his column, Martin Wolf looks at government debt and asks at what point spending will need to be reined in.

In commercial property, Ronald Quinlan reports that eveloper Paddy McKillen jnr and his business partner, Matt Ryan, have completed the sale of the Dean Hotel Group to British property group Lifestyle Hospitality Capital and Elliott Investment Management, the New York-headquartered investment giant founded by billionaire Paul Singer.

Ronald also reports that TWM has named ex CBRE agent Willie Norse as managing director, as well as a Kildare town land with full planning for 168 new homes for sale for €7 million.

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