Penneys new Dundrum shop, data complaints, and rising consumer prices

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

The existing Penneys store in Dundrum. The Irish retailer has confirmed plans to move to a larger shop in the centre, to open in mid 2023.

The existing Penneys store in Dundrum. The Irish retailer has confirmed plans to move to a larger shop in the centre, to open in mid 2023.

 

Irish retailer Penneys has confirmed plans to relocate to a bigger shop in the Dundrum Town Centre by taking two floors of the former House of Fraser department store there. It will invest nearly €15 million in the new shop, which is slated to open in the summer of 2023. Ciarán Hancock has the details.

Irish people lodged almost 7,000 complaints with data protection watchdogs last year, the sixth-highest number in Europe, according to a report from global law firm DLA Piper. Barry O’Halloran reports.

Sinn Féin was quick out of the blocks yesterday to call for a wealth tax on Ireland’s richest citizens, after an Oxfam report based on Forbes figures suggested that Ireland’s nine billionaires added more than €18 billion to their wealth during Covid, writes Cantillon. So why doesn’t it support the Local Property Tax?

Latest figures from the CSO highlight the shifts that have taken place in Irish trade movements since Brexit, with imports from Britain slumping while there has been a surge of goods coming across the Border from Northern Ireland. Cantillon examines the data.

In our personal finance feature, Fiona Reddan highlights how everything from booze to energy prices and the cost of hotels has hit Irish consumers in the pocket lately.

In Q&A, a reader wonders about the capital gains tax implications of selling a house that was their main residence for five years but which has been rented out for almost 20 years. Dominic Coyle crunches the numbers.

In Media & Marketing, Laura Slattery compares the top 50 TV shows from last year with 2011 and discovers that the Late Late Toy Show and live sport are the only ones to have bridged the gap amid the switch to digital and streaming.

In Me & My Money, Conor Moules, country manager of Irish food-ordering app Bamboo, outlines how he is willing to sacrifice convenience by shopping local.

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