The price of Brexit, targeting tax havens and the price of your TV habit
Business Today: the best news, analysis and comment from The Irish Times business desk
Tax cuts promised for the next budget could become the first victim of a disorderly Brexit, the ESRI has warned. Photograph: Jack Taylor/Getty Images
Tax cuts promised for the next budget could become the first victim of a disorderly Brexit, the ESRI has warned. Eoin Burke-Kennedy reports on its latest quarterly economic commentary that says its projected growth rate for the Irish economy this year could be slashed by more than two-thirds if Britain crashes out of the EU.
And speaking of the EU, new copyright rules have finally been approved over the trenchant opposition of Big Tech by the European Parliament. They will hold platforms legally liable for user-generated content they host and could force the likes of Google to negotiate licences for using copyrighted material.
Ireland was also a target for the EU Parliament yesterday, being labelled a tax haven alongside Luxembourg, Cyprus, Malta, Hungary, Belgium and the Netherlands as MEPs urged member states to get rid of visa and passport for cash schemes
Apple’s new streaming service may excite many but Fiona Reddan runs the rule over the cost of keeping up to date with the myriad TV and video offerings now available - or soon to be. The cost? More than ¤1,500 a year, she says, and that’s without all the bells and whistles.
ABP, Larry Goodman’s meat empire, has struck a deal to export more beef to the lucrative Chinese market, writes Mark Paul. The beef baron has exported 1,500 tonnes of beef to China since the market opened last summer and now it is broadening the range of products it offers online consumers on China’s JD.com platform.
Back to the Irish economy, and departing Central Bank governor Philip Lane says Sinn Féin’s No Consent, No Sale Bill, which seeks to prevent banks from selling problem loans to investment funds without borrowers’ permission would push up mortgage interest rates and weaken the resilience of the financial system. Eoin Burke-Kennedy reports.
Ocado used to a be a figure of fun in the UK investment community but the onetime niche online retailer has turned into a warehousing giant that some analysts say could yet become the Microsoft of retail, writes Fiona Walsh.
In Commercial Property, Justin Comiskey reports that the sale of the European headquarters of online payments group Stripe on Dublin’s Lower Grand Canal Street has been agreed in an off-market transaction for about ¤49.5 million to an international investor.
And a 1.9-acre residential site on the Enniskerry Road in south Dublin is guiding ¤3 million through agent Colliers International.