Taxing times; Boohoo’s new star; and McGregor’s new whiskey brand
‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
Offaly man John Lyttle has just been named CEO of the Boohoo online retail group
Irish taxpayers are still paying more in income tax, USC and PRSI combined than they were a decade ago, despite repeated Government promises to cut tax bills,the Irish Tax Institute says. And, reports Eoin Burke-Kennedy, it’s middle-income earners who continue to bear the brunt.
Staying with tax, anti-poverty advocacy group Oxfam is producing a couple of reports today excoriating the pharma industry for tax avoidance and countries like Ireland for accommodating them in doing so.
John Lyttle may not be a household name yet but the Offaly man is clearly highly regarded in retail circles. The Primark chief operating officer has just been head-hunted by fast-growing, online cheap fashion group Boohoo to replace its founders as CEO. And if he hits somewhat ambitious five-year targets, he’ll secure a £50 million jackpot.
There was good news on the jobs front across the country with Microsoft announcing 200 new jobs in Dublin, sports tech group StatSports unveiling almost 240 jobs at its Newry HQ and Australian healthcare technology group HealthKit opening a EMEA headquarters in Cork. Colin Gleeson and Fiona Reddan have the details.
As farmers head for the annual National Ploughing Championships, the news is more mixed with Eoin Burke-Kennedy writing that a Central Bank report has found a sharp rise in farm output in recent years but worries about clouds on the horizon in the form of Brexit, CAP payments and climate change.
MMA star Conor McGregor may have been on the ropes with his efforts to bring his own whiskey to market under the Notorious brand but he has bounced back to unveil Proper no 12 Irish Whiskey. Colin Gleeson explains how the name is rooted in his Crumlin heartland.
And as the Big Brother franchise looks for a new home after being cut for next year by Channel 5, Laura Slattery advises that there’s life yet in the show even as many of its original fans move on to newer offerings
Joe Brennan’s Banking Crash Diary brings to life the major events of a decade ago. It resonates still today with the liquidators of IBRC asking a US court to throw out a case by Paddy McKillen that they see as an attempt to frustrate their work as they seek to recover some of the Maple 10 loans.
And, as it draws closer, what will Budget 2019 mean for you? Fiona Reddan looks at an ESRI report that says mothers have fared the worst over the past decade.