All the major business events happening this week
For Your Diary: Dell, Ladbrokes Coral and Datalex report;Theresa May triggers Brext
On Wednesday, British prime minister Theresa May will formally notify the European Council president of her intention to begin Brexit negotiations. Photograph: Yves Herman/Reuters
Results: Sinclair Pharma
Indicators: Euro-zone loan growth; German business climate (Mar)
Indicators: US goods trade balance adv (Feb), consumer confidence (Mar), manufacturing index (Mar)
Indicators: EU summit on Brexit; UK article 50 process begins; nationwide housing prices (Mar), consumer credit (Feb), mortgage lending (Feb), net lending to individuals (Feb), mortgage approvals (Feb), consumer confidence (Mar); US mortgage applications (Mar 24th), pending home sales (Feb)
Meetings: Next Generation Roadshow: software provider Wonderware Ireland to outline latest developments (Fota Island Resort, Cork); Tender Team Success Seminar to help companies win more tenders (Radisson Blue Hotel, Golden Lane, Dublin)
And finally it all comes down to this: on Wednesday, British prime minister Theresa May will pull the lever on article 50, setting in motion a two-year chain of events the financial, economic and political consequences of which remain startlingly opaque.
It all begins when Ms May formally notifies the European Council president of her intention to begin divorce negotiations.
Like all splits of this nature, the level of potential acrimony remains hard to predict and nobody knows who will get hurt or how.
In a note ahead of the date, Davy said it would be difficult to conclude all separation and trade negotiations in the time frame provided.
This, it continued, raises the prospect of the UK reverting to World Trade Organisation trading rules or a “hard Brexit”.
“One initial sticking point will be the final payments to the EU when the UK leaves, with media reports suggesting that the EU will seek €60 billion to cover commitments in the budget,” it said.
“But estimates have ranged between €15 billion and €80 billion. The EU’s chief negotiator, Michel Barnier, has intimated that he will seek to settle this and other separation matters before entering into trade negotiations, while the UK would prefer parallel negotiations.”
There are also issues surrounding the fate of EU citizens living in the UK and vice versa. Wednesday will see the process finally begin although exactly what that means is as uncertain as the process to date.
Indicators: Euro-zone business confidence (Mar), services sentiment (Mar), consumer confidence (Mar), economic sentiment (Mar), industrial sentiment (Mar); German import prices (Feb), inflation (Mar); US GDP price index (Q4), jobless claims (Mar 18th), GDP growth (Q4)
Meetings: International Energy Research Centre (IERC) conference (Fota Island Resort, Cork); Freight Transport Association (FTA) Ireland conference (Johnstown House Hotel, Enfield, Dublin); Chief Information Officer Summit (Aviva Stadium, Dublin); Knowledge Transfer Impact Awards for achievement in Irish Higher Education Institutes and publicly-funded research organisations (Royal Hospital Kilmainham, Dublin)
Add together the challenges of how to deliver sustainable, stable and cost effective carbon-neutral energy to entire populations and you have a real “trilemma” on your hands.
At least that’s the catchily-titled issue up for debate at the International Energy Research Centre (IERC) conference in Cork on Thursday.
Call it what you will, the conundrum is quite serious. The EU has a 20 per cent energy savings target through use of renewable (wind, solar, wave and biomass) to reach by 2020, not to mention its recently updated 30 per cent efficiency target by 2030.
Any member state, including Ireland, that fails to do so is facing significant financial penalties.
As such, the IERC will assemble a cast of “global experts, indigenous start-ups, industry leaders, researchers and government representatives” to discuss the future of energy systems.
Prof Tony Day, IERC executive director, said the exercise is to “bring together all relevant parties to accelerate progress in the area of renewable energy”.
Government, industry, analysts, academics and researchers from across the globe will convene with an agenda addressing the development of technologies to integrate energy sources and provision.
Indicators: Irish retail sales (Feb); euro-zone inflation (Mar); UK business investment (Q4), GDP growth (Q4); German retail sales (Feb), unemployment (Mar)
Meetings: Primary Care Partnership Conference on healthcare industry challenges (Croke Park Conference Centre, Dublin)