Daft rents fall, Ibec’s €15bn economic reboot, and new car sales in July

Business Today: the best news, analysis and comment from The Irish Times business desk

A deserted Grafton Street in Dublin on the recent  bank holiday weekend. Ibec has suggested a €15bn reboot of the Irish economy once the lockdown restrictions have been lifted. Photograph: Dara Mac Dónaill / The Irish Times

A deserted Grafton Street in Dublin on the recent bank holiday weekend. Ibec has suggested a €15bn reboot of the Irish economy once the lockdown restrictions have been lifted. Photograph: Dara Mac Dónaill / The Irish Times

 

Employers’ group Ibec has called for a €15 billion reboot of the Irish economy to curb the effects of coronavirus and address some of the State’s major structural challenges. Eoin Burke-Kennedy has the details of this ambitious plan.

Rents fell by 2.1 per cent on average in April while the number of homes available to let across the State jumped by nearly 40 per cent as a result of the coronavirus crisis, according to property website Daft.ie. Eoin Burke-Kennedy reports.

As the motor trade prepares to reopen aftersales departments from next Monday, many dealers are increasingly frustrated that sales operations cannot restart at the same time. Our motoring editor Michael McAleer has the details.

Chadwicks Group, a company with 50 builders’ merchanting branches across the country, has spent more than €200,000 in preparation for reopening to customers next week. Peter Hamilton reports.

Shareholders in Kenmare Resources have been urged by a leading advisory company on corporate governance to vote against the mining company’s pay policy at a meeting this week as it seeks to increase potential executive share bonuses. Joe Brennan has the background.

The National College Of Ireland says it is on the lookout for a second third level campus in Dublin city in addition to its current base in the IFSC, Mark Paul writes.

Irish aircraft leasing specialist AerCap has deferred about $300 million (€277 million) worth of rent from airlines while customers are seeking a further $300 million in deferrals, according to its chief executive, Aengus Kelly. Barry O’Halloran reports.

What does the Covid-19 crisis mean for private health insurance premiums, claims and available benefits? Laura Slattery has the answers in our weekly personal finance slot.

In Q&A, Dominic Coyle considers the tax implications for a reader who is selling a property abroad and wants to lodge the proceeds into an Irish bank account.

In media and marketing column, Bernice Harrison notes how Lonely Planet’s Dublin office has largely survived group cutbacks but in-flight magazine Cara is in hiatus due to the impact of Covid-19 on air travel.

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