Coronavirus hits flights, first-time buyers struggle and the battle for Twitter

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

Thousands of air travellers face disruption as Ryanair and other airlines cancel flights in response to the spread of coronavirus

Thousands of air travellers face disruption as Ryanair and other airlines cancel flights in response to the spread of coronavirus

 

Thousands of air travellers face disruption as Ryanair and other airlines cancel flights in response to the spread of coronavirus. British Airways is also cutting flights to the Republic from Heathrow later this month.

Meanwhile, the OECD warned that a longer and more intensive coronavirus outbreak could halve worldwide growth to 1.5 per cent. However, the prospect of interest rate cuts helps global markets recover some of last week’s losses.

First-time buyers need to be earning nearly €100,000 a year to secure a mortgage for a new home in Dublin, according to a new report. Eoin Burke-Kennedy has the details.

Simon Carswell reports that scores of borrowers hoping for approval for these swaps to give them a fresh financial start in personal insolvency cases face uncertainty due to a High Court judge’s ruling that significant legislative changes are needed to allow “debt-for-equity swap” solutions.

A lawyer for bankrupt developer Sean Dunne indicated in court papers filed late last week that his client intends to seek damages from his son John Dunne for turning over more than $12 million (€10.7 million) to the trustee in Sean Dunne’s long-running US bankruptcy case.

A fall in used car imports – down 30 per cent in February – failed to lift new car sales. New registrations fell 7.7 per cent in February, pushing sales so far this year down 4.94 per cent to 45,096.

In her media and marketing column, Laura Slattery as if it matters who owns Twitter, given the furore – on Twitter – over the shareholding in the social media giant now held by controversial hedge fund Elliott Management.

In personal finance coverage this week, Joanne Hunt shows that Irish women pay a particularly high price for their gender when it comes to pay, promotions and pensions. Meanwhile, Proinsias O’Mahony asks if ‘green’ stocks are a mega trend or a potential bubble?

Finally, Dominic Coyle advises a reader whose decision to gift a cottage to her son looks set to cost her €46,000in tax.