Compulsory redundancies at a State company and a new asset manager in Dublin

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

05/10/2015 NEWS. Bord na Mona Briquettes for sale in Sandymount Photograph: Cyril Byrne / THE IRISH TIMES

05/10/2015 NEWS. Bord na Mona Briquettes for sale in Sandymount Photograph: Cyril Byrne / THE IRISH TIMES

 

About 85 workers at a Bord na Móna factory face compulsory redundancy in what is the first such agreement between unions and a State company for more than 30 years. Workers in the Littleton peat briquette plant in Co Tipperary have voted overwhelmingly for a redundancy deal negotiated by three unions ahead of the factory’s closure this year.

The former parent of Ireland’s largest fund manager Pioneer Investments is advancing plans to launch a new asset manager in Dublin. Italian financial services giant Unicredit Group sold Pioneer to France’s Amundi for €3.5 billion last year. A part of the Unicredit Group, FinecoBank set up a new company in Dublin late last year called Fineco AM Limited.

The governor of the Central Bank Philip Lane won strong backing for his candidacy for the vice-presidency of the European Central Bank from MEPs this week. Joe Brennan profiles the ECB hopeful with Nobel possibilities.

Nama-appointed receivers are seeking permission to build more than 140 dwellings on a site in Kiltiernan, south Dublin under new rules designed to accelerate housing development. The site was once linked to developer brothers Michael and Martin Doran of Ellen Construction.

Opinion is divided over whether Dublin’s office space party is beginning to come to an end. In this week’s Agenda, Peter Hamilton assesses the capital’s inflated office market.

For this week’s interview, Barry O’Halloran talks to Co Down native Jim Clerkin, currently heading up the North American operations of luxury drinks division Moet Hennessy. Clerkin’s other role is as chair of Co-operation Ireland US and he explains its ongoing efforts to promote peace and reconciliation across the Border.

Irish employers believe they’ll have to offer two out of every three employees salary increases to retain talent this year, according to a survey published this morning. Meanwhile, in our World of Work section, Olive Keogh writes that as firms fight to retain talent, employers are finally waking up to the benefits of offering staff more flexible working patterns.