Eason’s job cuts, ESB shelves Poolbeg generator, and Pubs v FBD in court
Business Today: the best news, analysis and comment from The Irish Times business desk
Eason’s flagship store on O’Connell Street, Dublin, which is currently closed due to Covid-19 lockdown restrictions. The Irish-owned books retailer has told staff that it needs to reduce its costs by 30 per cent. Photograph: Dara Mac Donaill / The Irish Times
Books retailer Eason plans to cut 150 jobs and put some other staff on a four-day week from June 1st as it looks to reduce its costs by 30 per cent in response to the financial hit from the coronavirus lockdown of the economy. Ciaran Hancock has the details.
State-owned ESB has temporarily shelved plans for a €500 million electricity generator at Poolbeg in Dublin to focus on building a smaller power plant at the same location. Barry O’Halloran reports.
More than 1,000 pubs have an interest in a test case that has come before the Commercial Court over whether FBD Insurance should pay for the losses of bars closed as a result of the coronavirus lockdown, the court was told yesterday. Colm Keena heard the opening arguments.
The European parliament will block a €500 billion recovery fund proposed to help stem the deep economic damage of the coronavirus pandemic unless it is sufficiently “ambitious” and offers grants as well as loans, its president David Sassoli has said. Naomi O’Leary reports from Brussels.
Ryanair is almost certain to oppose the German government’s €9 billion bailout of rival airline group Deutsche Lufthansa, writes Barry O’Halloran.
In her weekly column, Laura Slattery looks at the devastating impact of Covid-19 on musicians’ earnings from streaming services such as Spotify.
Should pubs with restaurant licences be allowed to reopen next monthalong with restaurants, or should they have to wait until August, as publicans have been told to do in the Government’s roadmap? Cantillon examines this thorny issue.
In personal finance, Laura Slattery looks at working from home and finds its a case of new costs, new stresses and little relief.
In Q&A, Dominic Coyle answers a reader’s query about about joint accounts. If one person dies, can the other access the money?
Another reader has gone sale agreed on a house and wants to know if they can go back with a lower offer. Dominic Coyle has the answer.
Will ‘Big Data’ restore active managers’ mojo? We examine that question in this week’s investment feature.