Measures announced to shield consumers from the energy price shock represent a “subsidy to higher income households”, the Economic and Social Research Institute (ESRI) has said. The criticism comes even as it warned in its latest quarterly bulletin that rising energy costs linked to the Iran crisis will push inflation to 3.2 per cent this year, writes Eoin Burke-Kennedy.
The €250 million package of measures to help businesses and households with their fuel bills over the next couple of months is the subject of this week’s Inside Business podcast, with political correspondent Cormac McQuinn, Cliff Taylor and Ibec director of lobbying and influence, Fergal O’Brien debating whether it will be enough or if it is simply a bet by Government on a quick resolution of the Iran conflict.
The Central Bank also has its quarterly assessment of the economy out this morning which, Eoin reports, sees a possibility of headline inflation in the Irish economy could double to 4.2 per cent in the coming months if there is a prolonged conflict in the Middle East.
Ireland’s housing market, meanwhile, is cooling, according to Daft.ie, which said listed house prices across the State increased by 3.7 per cent over the past 12 months, the “slowest rate of increase since late 2023″. Ian Curran has the details.
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Back with the Central Bank, Ian looks at a series of papers published yesterday, one of which calls for Strategic policy action to mitigate the disruption that artificial intelligence is likely to cause within the Irish labour market and ensure that some categories of workers are not left behind.
Sticking with the world of work, Margaret E Ward examines the office grooming gap and asks whether women’s investments in hair, clothing and make-up pay dividends in terms of pay and promotion.
If you are looking to escape the economic gloom, airlines have warned that holidaymakers could face higher air fares following the surge in oil prices. Jet fuel prices have soared 50 per cent since the US and Israel struck Iran four weeks ago, Irishman Willie Walsh, who represents the industry told an Oireachtas committee. Barry O’Halloran was there.
Changes to how consumers and businesses can challenge a Revenue tax assessment will have a chilling effect on such appeals, the Irish Tax Institute says, effectively punishing a taxpayer in the court of public opinion for daring to contest a tax assessment.
More than 700 apartments at Dublin’s Glass Bottle site are central to a property portfolio US private equity giant Oaktree is understood to be seeking to float in London, according to sources. Joe Brennan has the details.
Conor Pope takes a look at some of the anonymised case studies highlighted by the Financial Services and Pensions Ombudsman in its review of last year’s cases. Meanwhile, Cantillon throws a spotlight on the antics of one travel insurer after a couple’s flight was cancelled.
Speaking of people being caught bang to rights, US group Lionbridge has been ordered to pay more than €140,000 to a veteran Irish executive after admitting to her unfair dismissal in a “sham redundancy” from her €275,000-plus-bonus post after 24 years at the business. Stephen Bourke has the details.
An examiner has been appointed to long-standing Cork retailer, Cummins Sports, which primarily supplies GAA gear and equipment. Judge Nessa Cahill said a critical factor in approving the examinership was that 48 of 74 jobs are expected to be saved in the process.
Gordon Deegan reports that the Indian embassy failed to persuade An Coimisiún Pleanála to overturn Dublin City Council approval for five homes in a site backing on to its rear garden on Merrion Road in Ballsbridge.
Meanwhile, Kildare Co Council has granted permission for Guinness producer Diageo to double its intended brewing capacity at its brewery at Littleconnell, Co Kildare. Diageo had already earmarked the site as a production hub for Diageo lager and ales. Now it will also produce Guinness and Guinness 0.0 to feed demand in emerging markets.
In Technology, Ciara O’Brien looks at how apps and robots can help us keep abreast of spring cleaning or even just routine chores.
She also road tests a new solar-powered CCTV camera for your home.
And in Net Results, she ponders the rumoured resurrection of the Amazon phone. Does it play to an industry mantra that says if at first you don’t succeed, batter consumers with it until they give in, she wonders?
In Innovation, a young Drogheda nursing student drew on experience working on the ward to develop a compact portable respiration rate reader he hopes will reduce the workload on wards when it hits the market.
Finally, after many months of heavy-duty structural construction work, the roof was placed atop the new €59 million stand at the Laya Arena in the grounds of the Royal Dublin Society’s (RDS) campus in Ballsbridge yesterday. Now the race is on to fit out the three-storey stand with 6,775 seats and entertainment areas ahead of a planned debut on the first day of the Dublin Horse Show.
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