80,000 Irish jobs at risk from disorderly Brexit, Apple’s TV, and IFG sale

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

A disorderly exit by the UK from the EU will put 80,000 Irish jobs at risk and deliver a deep and damaging shock to the Irish economy for the next decade, according to a new report

A disorderly exit by the UK from the EU will put 80,000 Irish jobs at risk and deliver a deep and damaging shock to the Irish economy for the next decade, according to a new report

 

As the political circus acts over Brexit hold centre stage at the UK’s Houses of Parliament, a sobering report this morning warns of the impact to Ireland. A disorderly exit by the UK from the EU will put 80,000 Irish jobs at risk and deliver a deep and damaging shock to the Irish economy for the next decade, it reports. The study by the Department of Finance and the ESRI estimates the impact of three Brexit scenarios on the Irish economy. None of them make pleasant reading.

Many eyes were on Apple’s star-studded launch event last night where it unveiled new services including its long awaited TV service, a new subscription news service and even an Apple credit card.

In her media and marketing column, Laura Slattery says the latest expansion of the tech giant’s services offerings raise serious misgivings about the reach the company has, providing not only the platform and hardware, but now some of the content as well.

Back in the more sober world of investment management, there was good news for IFG shareholders. UK-based private equity firm Epiris is to acquire the Dublin and London listed financial services group in a deal valued at £206 million (€240m). IFG shareholders will be entitled to receive £1.93 for each ordinary share. This is a 46 per cent premium to its closing share price of £1.325 on March 22nd.

Employees who enjoy rent-free accommodation from their employers must pay income tax on this benefit at their full marginal rate, including PRSI and USC, Revenue has clarified. In an updated guidance on the tax position for an employee where accommodation is made available by an employer to an employee for his or her private use, Revenue has set out how and when tax arises.

Millennials are putting their financial futures at risk, warns Fiona Reddan, by missing out on key milestones, from starting a pension to getting a ‘proper’ job. Overcoming these delays is becoming more difficult, she writes, due to high rents and contract jobs.

Finally, back with Brexit, Dominic Coyle answers a reader’s query on whether, with a no-deal exit looming large, now is a good time to sell your shares.