Exchequer in deficit, EY Entrepreneur of the Year shortlist, and innovation in wartime

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

The State ended last month €1.1 billion in deficit, according to the latest official figures from the Department of Finance. Barry O'Halloran reports on the outcome, which marks a substantial improvement on this stage of 2021, when Covid curbs were in force across the economy.

The post-Covid recovery is also evident in the latest AIB Purchasing Managers' Index, which shows strong growth in the services sector for April. Prices were higher too, however, writes Ciara O'Brien.

This year's EY Entrepreneur of the Year awards have reached the shortlist stage, with 29 people representing 25 companies nominated across three categories. EY said the companies shortlisted for what will be the 25th year of the awards programme have generated annual revenues of more than €800 million – Laura Slattery has all the details.

As the war in Ukraine enters a new month, our columnist Chris Horn asks what this kind of conflict does for innovation. He looks at the Ukrainian citizen IT army, which he says has gone well beyond hacking internet systems.

Martin Wolf also considers the war, arguing that it is testing Europe's moral mettle as much as its economy. Governments need to cushion the impact on the cost of living, but energy subsidies are not the answer, he writes.

Backo in our Innovation section, Olive Keogh profiles the Elevator Program, an e-learning platform for music production developed by sound engineer and music producer Will Kinsella. The platform offers a suite of courses such as mixing and mastering.

When was the last time your company's chief executive spent time on the frontline of your business? The practice, known as "dogfooding" in the tech world (think eating your own dog food, if you must), has seen Airbnb's boss staying in the company's rental properties every few weeks, and the president of Lyft driving for the ride-hailing firm.

And finally, do you need a companion robot? If you answered yes, Ciara O'Brien has some insights on the Enabot Ebo Air to share.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest.

Latest Stories