Personal injury awards, DPC’s Big Tech decisions, and Facebook’s lobbying
Business Today: the best news, analysis and comment from The Irish Times business desk
Helen Dixon, the Data Protection Commissioner, says draft decisions in up to seven investigations into Big Tech companies are close to being circulated with other EU regulators. Photograph: Dara Mac Dónaill / The Irish Times
Agreement by the Judicial Council to new guidelines for personal injury awards is a vital step to lowering insurance costs to businesses, according to a new report from the National Competitiveness and Productivity Council (NCPC). If this approach does not reduce costs and increase certainty for business, then the Government needs to legislate to cap personal injury awards, it says. Cliff Taylor has the details.
The State’s data-privacy watchdog expects to share draft decisions on possible fines arising from up to seven investigations into big tech companies with other European regulators this year. Simon Carswell spoke to the Data Protection Commissioner, Helen Dixon.
Facebook pressed the Irish Ambassador to the United States to lobby members of Congress on the negative impact a ban on data transfers between the US and the EU would have on the Irish economy, correspondence reveals. Jack Power reports.
Lloyds Banking Group has failed to convince Her Majesty’s Revenue and Customs (HMRC) that it is entitled to claim tax relief on massive losses racked up in the Republic during the financial crisis. Joe Brennan explains this long-running dispute.
Investec has cut its 2021 growth forecast for the underlying Irish economy in half to 2.5 per cent as a third national lockdown, which took effect over the Christmas holiday period, has been extended until least early April, writes Joe Brennan.
Our tech review this week sees Ciara O’Brien put the Lego Vidiyo Music Video Maker app to the test, with impressive results.