Eoin Burke-Kennedy

Eoin Burke-Kennedy

Eoin Burke-Kennedy is a business journalist with The Irish Times

Eir’s director of mobile networks, Fergal McCann, and CEO, Carolan Lennon. Photograph: Chris Bellew/Fennell Photography
Will Eir’s €500m investment change the broadband game?

Eir takes aim at Virgin as questions about the Government’s NBP project grow

The contract, which was renewed in 2017, is said to be worth at least €20 million a year to Limerick-based Enet. Photograph: PA Wire
Government under fire for awarding major telecoms contract without tender

Limerick-based Enet had contract to operate network last year without tender process

Imagine Communications chief executive Seán Bolger. The company is aiming to roll out a new 5G fixed broadband network within the next 18 months. Photograph: Dara Mac Dónaill
Imagine plans €300m wireless broadband network

Investment to bring high-speed connectivity to rural parts of Republic

Building telecoms infrastructure in rural parts is proving a headache for governments across the world, principally because the technology and the demand it spawns keeps evolving.
State’s largest telcos to reveal why they shunned broadband plan

Companies are to explain their difficulties with the process to Public Accounts Committee

Sales in the final quarter of 2018 demonstrated the slow but steady growth of retail in recent years, said Retail Ireland. Photograph: PA
Rise in sales masks declining footfall, warns Retail Ireland

Industry body’s retail monitor shows value of shopping rose 2.7% in final quarter of 2018

The Republic should be allowed keep all tariffs on imports from the UK in the event of a no-deal Brexit, accountancy body Acca says. Photograph: Kirsty O’Connor/PA Wire
EU should ‘waive its right’ to Irish import tariffs in no-deal Brexit

Industry group says additional revenue could be used as support package for Brexit-hit industries

Eir plans to invest €500 million in a new fibre broadband network that will supply 1.4 million premises across the State. Photograph: Andy Brown/Hemera/Getty
Eir plans €500m upgrade to broadband network

Five-year plan to bring fibre to 1.4m homes, including all towns with more than 1,000 homes

Ireland and England playing in the Guinness Six Nations championship at the Aviva Stadium in Dublin. Photograph: Reuters
English rugby fans spend average of €639 in Dublin for Six Nations opener

Teneo’s findings indicate match generated €12.4m for local economy

Firms in the tourism sector, already feeling the pinch from a weaker sterling, have been the worst hit over Brexit as the industry relies heavily on tourism from Britain. Photograph: Kirsty O’Connor/PA Wire
A third of Irish businesses cancel or postpone investments over Brexit

Latest AIB Brexit Sentiment Index reveals economic fallout of ongoing uncertainty

While the rate of growth eased to a three-month low, overall Irish construction activity has increased on a monthly basis since September 2013. Photograph: Alan Betson
Construction activity still ‘solid’ despite slower growth

Ulster Bank barometer suggests housing demand still driving the construction sector

Workers in the domestic sector, which excludes multinationals such as Apple, added an average €47.87 to the value of the economy for every hour they worked in 2017, which was less than the OECD average. Photograph: EPA
Irish workers may be only half as productive as OECD suggests

CSO figures suggest workers are no more productive than their international peers

European Commissioner for Economic and Financial Affairs Pierre Moscovici presents the EU executive’s economic forecasts during a news conference at the EU Commission headquarters in Brussels. Photograph: Francois Lenoir/Reuters
Commission cuts Irish growth forecast amid Brexit uncertainty

Brussels says economic outlook for Ireland remains clouded by uncertainty

The Government has been urged to rethink its housing policy in light of Brexit and “to apply more dynamic thinking” to solving the crisis.
Government urged to rethink housing policy as Brexit nears

Oireachtas report criticises aspects of Government policy, including HAP scheme

All EU countries are poised to continue growing, with the bloc expected to post its seventh consecutive year of expansion. Photograph: Reuters/Yves Herman
Commission cuts Irish growth forecast amid Brexit uncertainty

Brussels says economic outlook for Ireland remains clouded by uncertainty

‘Likelihood is that sentiment and spending indicators will remain on a choppy path in early 2019’ Photograph: Victoria Jones/PA Wire
Consumer sentiment inches up in January despite Brexit worries

Latest barometer suggests consumers are still very cautious about outlook for economy

Kirby Tarrant, partner in charge of Clark Hill’s new Dublin office
US law firm Clark Hill announces merger with O’Gradys Solicitors

Tie-up will give Irish significantly more clout internationally

Broadband survey finds most users dissatisfied with service

Research suggests poor broadband is problem in urban as well as rural areas

Yew Grove’s IPO last June: the company said it had now fully invested the €75 million generated from its flotation
Yew Grove reports first pretax profit as portfolio triples in size

Stock market’s newest property reit publishes maiden set of results

Economist Micheál Collins said Ireland had “effectively written the textbook on how not to do property supports via the tax system”. Photograph: Brenda Fitzsimons
State loses €21.4bn each year through ‘tax expenditures’

Expert highlights wide range of tax reliefs and reductions currently available in Ireland

In Ireland, workers add an average of $99.50 (€87) to the value of the economy every hour they work, according to the OECD. Photograph: Suzie Howell/New York Times
Irish workers now ranked as most productive in world

OECD figures suggest Republic leads way in labour productivity

Unemployment is expected to fall below 5% this year. Photograph: Alan Betson
Unemployment remains at 5.3% as ‘dark cloud’ of Brexit looms

CSO figures for unemployed fell to 127,300 in January, but participation rates still low

January is typically the biggest month of the year for VAT as it reflects the busy November-December shopping period.
Strong Christmas sales drive VAT receipts to record €2.7bn

Exchequer returns show sales tax accounted for half receipts generated in January

Capital Economics predicted the UK government would probably loosen fiscal policy by as much as 1 per cent of GDP if the UK crashed out of the EU. Photograph: AP
Impact of no-deal Brexit on Ireland may be less severe than feared

Capital Economics analysis says existing forecasts fail to factor in likely policy responses

The Department of Finance building at Government Buildings in Dublin. “A certain, stable, and globally agreed international tax framework is vital to facilitate cross-border trade and investment,” the department said. Photograph: Aidan Crawley/Bloomberg
Government gives guarded welcome to OECD tax proposals

Department of Finance says, however, changes must not prejudice small economies

United Oil and Gas is applying to have its ordinary shares traded on London’s smaller AIM market. Photograph: Simon Dawson/Bloomberg
United Oil & Gas seeks alternative London AIM listing

Exploration group applies have its ordinary shares traded on smaller AIM market

New Irish citizens at a citizenship ceremony in Convention Centre Dublin. Photograph: Frank Miller
Immigration worries real but fluid, study finds

Research disputes notion that deep-seated cultural factors drive immigration sentiment

Brown Thomas is among the members of the Ireland Canada Business Association. Photograph: Eric Luke
Canadian firms see Brexit as ‘major opportunity’ for Ireland

However survey by Irish-Canada business group highlights concerns about housing and broadband

Companies relocating to Ireland is help stoke demand for executive roles
Brexit expected to boost finance and executive salaries in Ireland

Survey by recruitment specialist suggests high-level salaries could rise by 20%

Positive year: Shannon Group chief executive Matthew Thomas and chairman Rose Hynes
Shannon Group reports strong growth as airport numbers jump

Semi-State group says total passenger numbers at the airport jumped to 1.86m in 2018

REQUIRED: Handout photo issued by the House of Commons of Commons Leader Andrea Leadsom, Chancellor Philip Hammond, Prime Minister Theresa May, Brexit Secretary Stephen Barclay and International Trade Secretary Liam Fox, following the results of voting on Amendments put forward by MPs over the Government’s Brexit deal, in the House of Commons, London.
Brexit: UK enters dangerous ‘game of chicken’ with EU

House of Commons votes increases prospect of no-deal outcome, says Goodbody Stockbrokers

Tesco Ireland is selling the vegan burgers at €7 for a pack of two
‘Bleeding’ vegan burger arrives on Irish shelves

Tesco Ireland says product ‘looks, cooks, and tastes’ like the real thing

Nama: the agency’s quarterly report shows that it generated a total of €2.1 billion in cash in the nine months to the end of September last year
Nama funds delivery of 12,000 housing units since 2014

State agency says an additional 16,000 are either under construction or in pipeline

In New York, the S&P 500 and Nasdaq fell on Tuesday, as technology stocks pulled back. Photograph: Brendan McDermid/Reuters
European shares hold gains ahead of events blizzard

Apple to report after US closing bell

Greencore chief executive Patrick Coveney. Photograph: Dara Mac Donaill/The Irish Times
Brexit: Greencore mulls plan to ‘airlift’ food ingredients to UK

Sandwich giant says decision would depend on whether clients would pay additional costs

While the Central Bank’s lending rules limit what individuals can borrow, the overall stock of credit has been rising steadily. Photograph: Brian Lawless/PA Wire
Value of mortgage drawdowns rose 20% to €8.7bn last year

Figures show slowdown in approvals activity in the fourth quarter of 2018

Trips by residents from Europe other than Britain rose by 9.5 per cent to 3.8 million last year, while trips made by US and Canadian residents jumped by 13.4 per cent to 2.4 million.
Visitor trips to Ireland hit record 10.6m

British residents account for a third of total despite Brexit uncertainty, CSO figures show

Shoppers in Arnotts on the first day of the store’s Christmas sale. Photograph: Aidan Crawley
Retail sales fall in December but remain up in annual terms

Latest official numbers show sales declined in volume terms last month

European commissioner for competition Margrethe Vestager: “When you become big, you have a special responsibility not to use your muscle to deny others the chance to compete against you.” Photograph: Alan Betson
Silicon Valley nemesis Margrethe Vestager on Brexit and Apple’s tax

EU competition commissioner says bloc is ‘unwavering’ in support for border backstop

EU commissioner Margrethe Vestager says there is no guarantee removing the backstop element of the proposed deal will unlock the Westminster logjam. Photograph: Alan Betson
Ireland will not be sacrificed in Brexit deal, EU commissioner says

Margrethe Vestager asserts Europe is unwavering in its support for the backstop

Arizun managing director John McDaniel and director Cathal O’Leary: “Arizun will buy the mortgage from the bank and write off the mortgage debt plus arrears.” said Mr O’Leary.
Explainer: Arizun’s solution to the mortgage arrears problem

Irish firm comes up with plan to deal with 28,000 mortgages in long-term arrears

VR Education CEO David Whelan and COO Sandra Whelan. The firm reported revenue that was “comfortably” above expectations. Photograph: Shane O’Neill/SON Photographic
Titanic game generates record revenue for VR Education

Revenue of €700,000 as Dublin-listed tech firm buoyed by success of new virtual reality game

Arizun managing director John McDaniel and director Cathal O’Leary: “Arizun will buy the mortgage from the bank and write off the mortgage debt plus arrears.” says Mr O’Leary.
Irish firm gets €100m fund to buy distressed mortgages

Arizun launches sale-and-leaseback scheme for people who don’t qualify for State support

The big mover on the Iseq was Ryanair which closed 3.5 per cent up at €10.45
European shares slip as Chinese growth slows

Trading subdued as US markets were closed for Martin Luther King Day

IMF managing director Christine Lagarde giving a press conference on the IMF World Economic Outlook ahead of the World Economic Forum annual meeting in Davos, Switzerland. Photograph: Getty Images
IMF warns no-deal Brexit could trigger further slowdown in global economy

Washington-based fund says a greater than expected slowdown in China could spark further deterioration in sentiment

Simon McKeever, chief executive of the Irish Exporters Association, says the State is not ready for a hard Brexit.
Ireland would be ‘screwed’ if UK crashes out of EU, exports chief warns

Simon McKeever says companies in Ireland are totally unprepared for hard Brexit

Share traders start their systems for a trading session in Frankfurt, Germany. Photograph: Reuters/Kai Pfaffenbach
Profit warning from Société Générale weighs on European shares

Cairn Homes enjoys 4% bounce in Dublin on the back of positive trading numbers

Will the burger survive? Photograph: AP Photo/ Eugene Hoshiko
Meat consumption must drop by 90% to avert climate crisis, report warns

Study calls for overhaul of western diet to help environment

Minister for Finance Paschal Donohoe said the budget was prepared ‘on a careful and contained basis’. Photograph: Dara Mac Donaill
Donohoe hits back at criticism of Government’s budgetary stance

Minister says he won’t apologise for using corporation tax to fund infrastructural investment

Since the low point of the crash in early 2013 property prices nationally have increased by 83 per cent.
Property price inflation falls to 7.1% as market cools

Latest official figures show annual growth in Dublin in November was just 5%

British five pound banknotes. Photograph: Benoit Tessier/REUTERS
Sterling rebounds after crunch Brexit vote

Choppy trading in UK currency after May defeat in Brexit vote

Ibec has called for an overhaul of the State’s planning rules to address capacity constraints in the economy. Photograph Nick Bradshaw
Ibec seeks overhaul of planning laws to address capacity constraints

Business lobby says current system is unnecessarily costly and cumbersome

Shipping containers at Dublin Port. Exports and imports both slipped back in November. Photograph: Alan Betson
Irish goods exports to Britain fall 4% amid Brexit uncertainty

Overall trade surplus rises as imports fall faster than exports

Shoppers at the Arnotts sale: inflation rose 0.7 per cent in December, driven by housing costs.Photograph: Aidan Crawley
Rising rents drive Irish inflation to 0.7% in December

CSO figures say that motor insurance premiums fell 7% last year

Minister for Finance Paschal Donohoe. The Government ran a small budget surplus last year for the first time in more than a decade thanks largely to record corporation tax receipts. Photograph: Dara Mac Donaill
S&P warns it may downgrade Ireland’s credit rating

Agency highlights risks from increased tax competition and pressure on public spending

Goodbody analyst Dermot O’Leary expressed surprise at how little sterling had moved in the past week.
Currency specialists see sterling appreciating despite Brexit jitters

Analysts say market outlook is strong, as chance of no-deal Brexit decreases

Ibec chief executive Danny McCoy said the current uncertainty regarding the UK’s future trading relations had already prompted a slowdown in SME lending. Photograph: Alan Betson
Ibec predicts slowdown in growth as economy hits full capacity

Employers’ group also says Brexit uncertainty may dampen SME lending

BWexchequerinside
Ten firms account for €4bn of State’s tax take

Corporation tax generated record €10.4bn for exchequer last year

The Minister for Finance , Paschal Donohoe, at the announcement of the exchequer returns on Thursday. Photograph: Dara Mac Donaill
Government is in danger of being blinded by the tax windfall

The only thing we can can confidently bank on is that the current outlook won’t hold

Taoiseach Leo Varadkar. The positive outcome for the State’s finances was published shortly after the Cabinet heard the UK’s latest plans for a no-deal Brexit. Photograph: Donall Farmer
Government records first budget surplus since crash

Year-end exchequer numbers show corporation tax generated record €10.4bn in 2018

Fancy a gin with pink grapefruit and a sprig of thyme? Course you do
Have we hit peak gin yet? There are now 50 Irish gin brands

New figures show 12 new gin brands were launched in 2018 alone

The EU typically accounts for 50 per cent of Irish goods exports, with the UK, Germany and Belgium accounting for the lion’s share. Photograph: Alan Betson
US and Germany viewed as top destinations for market diversification

Survey highlights preferences of Irish exporters amid Brexit uncertainty

Proponents point to the high capital costs of fibre and the relatively low take-up rates, particularly in remote areas. Photograph: Andrew Matthews/PA Wire
Has ship sailed on €1.5bn-plus National Broadband Plan?

Government still promising bulk of plan by 2020 despite recent delays and controversies

Perrigo, which acquired Irish pharma group Elan in late 2013, has signalled its intention to appeal the decision to the Tax Appeals Commission, the deadline for which falls on December 28th
Perrigo shares rise as deadline for appealing €1.6bn Irish tax bill nears

Listed pharmaceutical giant has signalled its intention to appeal Revenue’s tax assessment

Joe Parker standing on his farm in Blacklion, Co Cavan. Part of his farm is on the other side of Lough MacNean in Belcoo, Co Fermanagh. Photograph: Andrew Paton
Bordering on Brexit: what those at the coalface think

On a busy day farmer Joe Parker might cross the Border 10 or 11 times, ferrying machinery and feed between his animals North and S(...)

Central Statistics Office figures for 2017 show the average household disposable income rose by nearly 5% to €48,476
Average incomes in Republic up to just 1% below boom-time high

CSO survey details recovery in household disposable income since 2012

National Lottery: analysis showed the social and economic class breakdown of lotto players was similar to that of the overall population. Photograph: Cyril Byrne
National Lottery losing market share to gaming sites

Report suggests lotto’s share now just 13% as alternative forms grow in popularity

After the UK, Romanian nationals accounted for the next largest allocation last year, followed by Brazil. Photograph: iStock
UK nationals account for largest number of PPSN allocations in 2017

CSO figures detail shifting composition of labour force

A demonstrator carries a combined British and EU flag during an Anti-Tommy Robinson and Ukip rally in central London on December 9th, 2018. Photograph: Dylan Martinez
Brexit forecasts: healthy scepticism is advised

ESRI’s latest short-term forecast doesn’t capture likely fallout of major UK shock

Effigies of UK politicians: ESRI says if the UK left leaves the EU without a deal, growth in Ireland may be cut to 2.6 per cent from an otherwise 4.2 per cent. Photograph: Andy Rain
No-deal Brexit may halve Irish economic growth, ESRI warns

Think tank assesses short-term impact of various Brexit scenarios on Ireland

Corporation tax receipts have nearly doubled since 2012 to €8.2 billion and are on course this year to top €10 billion for the first time. Photograph: Getty Images/iStockphoto
Budget 2019 will reduce average incomes, ESRI study finds

Despite pledging to cut taxes, Government’s budget will leave households paying more tax

Aryzta CEO and Dan Flinter, non executive director, at the company agm in Dublin last year. Photograph: Alan Betson
Aryzta trustee hits back at company over rights issue debacle

Link Asset Services claims food firm is to blame for Irish shareholders missing out

Public Accounts Committee chairman Seán Fleming said the State was missing out on significant additional resources because of the amount of tax that remained under appeal. Photograph: Lorraine O’Sullivan
Revenue pursuing three corporate tax bills in excess of €100m

Public Accounts Committee chairman highlights large amount tax under appeal

The Economic and Social Research Institute says employment in construction will have to increase for housing supply to meet demand.
Ibec salutes move to reduce work permit waiting times

Employers’ group warns skills shortages could curtail economic growth

Activity among Irish construction firms has now increased for 57 successive months. Photograph: Alan Betson
Housing demand boosts construction activity in November

Ulster Bank’s latest monitor shows greater activity stemmed from increased customer demand

Experts predict that about 20 per cent of web searches will done by voice by 2020. Photograph: Cyril Byrne
National Lottery develops voice assistant for Google and Alexa users

Lotto’s new ‘Lottery Now’ voice assistant will allow users to check lottery numbers by voice

Prime Minister Theresa May speaks in the House of Commons at the start of a five-day debate on the European Union Withdrawal Agreement last week. Photograph PA Wire
Crunch Brexit vote to proceed, insists UK exit minister

Seen & Heard: Stephen Barclay rejects reports that May is seeking to delay vote

Steve Eisman was supposedly the inspiration for the character played by Steve Carell (centre) in the movie version of Michael Lewis’s book The Big Short
‘Big Short’ investor bets against UK banks, predicting Corbyn will be PM

Steve Eisman says he expects big fall in UK market as a result of Brexit

Abbey said production in Ireland would soon be in progress on five projects, “and we are hoping for a useful contribution to our year-end figures”
Housebuilder Abbey reports 22% jump in revenue

Company says UK sales are holding up well, particularly in the first-time buyer category

Minister for Finance Paschal Donohoe Taoiseach Leo Varadkar . Photo: Gareth Chaney Collins
State’s tax base now 60% bigger than it was in 2003

CSO figures show income and corporation tax responsible for growth in income

Construction crane and steel girders
Live Register hits 10-year low amid buoyant labour market

Latest monthly figures show number of claimants fell by 3,100 in November

The company has recently invested €250,000 in developing a “fibre centre of excellence”. Photograph: Sean Curtin True Media
Limerick firm co-opted to fibre-to-the-home council

4site specialises in building and designing telecoms infrastructure

Traders on the floor of the New York Stock Exchange. Photograph: Justin Lane/EPA
European shares drop following overnight rout on Wall Street

Sterling climbs as traders weigh up latest news on Brexit manoeuvres

Irish Fiscal Advisory Council chairman Seamus Coffey: said the Government’s “repeated failure” to rein in unplanned spending has left the State exposed to future shocks
‘Cliff-edge Brexit’ to have far greater impact on Republic, fiscal watchdog warns

Ifac questions Government’s Brexit assumptions

The Government is on course to run a budget surplus this year for the first time in over a decade. Photograph: Getty Images
Budget surplus likely as corporation tax take hits record €9.4bn

Watchdog to issue spending warning after €2.7bn business tax take in November

Minister for Finance Paschal Donohoe. the State could yet run a budget surplus for 2018.
Government takes in near record €2.7bn in corporation tax in November

Latest exchequer returns for November show no let up in windfall from business tax

A disorderly or no-deal Brexit with the imposition of World Trade Organisation tariffs raises the prospect of sharp increases in costs for Irish importers. Photograph: Aidan Crawley/Bloomberg
Brexit to hurt Irish imports from UK more than exports

Britain accounts for 24% of food, fuel and other merchandise brought into State

Cranes towering over the A&L Goodbody Solicitors office Construction site. Photograph: Alan Betson
Unemployment drops to new post-crash low of 5.3%

CSO figures show number classified as unemployed fell to 127,600 in November

The New York Stock Exchange, on Monday, where global markets were sharply higher on the day following reports the US and China have made progress in their trade dispute. Photograph: Justin Laneepa
US-China trade truce triggers European share surge

Trump says China to cut tariffs on US-made cars

Currently Ireland is home to 24 of 25 biggest global pharma players, including Johnson & Johnson, Roche, Pfizer, Novartis and AbbVie.
Foreign firms account for most of State’s industrial output

Figures show foreign-owned businesses have smaller employment footprint

Bank of America’s Ireland-based workforce is now more than 800, split between offices in Leopardstown and Hatch Street, Dublin. Photograph: Aidan Crawley
Bank of America completes Brexit switch with 100 staff moving to Dublin

US bank merges London-based banking arm with Irish subsidiary

Minister for Finance Paschal Donohoe: adamant that Government spending will only rise by 4 per cent in 2019. Photograph: Nick Bradshaw
Is the Government going for broke again?

Budgetary watchdog stops just short of accusation that recovery is being squandered

Retail sales remain flat in October but up in year-on-year terms

CSO numbers suggests recovery in retail remain strong

“Repeated failures to prevent unbudgeted spending increases have left the public finances more exposed to adverse shocks”
Fiscal council losing patience with annual budget trickery of finding €1bn

Budgetary watchdog has accusing the Government of repeatedly breaching its own targets

Former minister for communications Denis Naughten (right) is pictured alongside An Taoiseach, Leo Varadkar on March 3rd Photograph: Sam Boal/Rollingnews.ie
National broadband plan was in crisis long before the Naughten controversy

Questions remain around plan’s costs and native industry shunning of project

Seamus Coffey, chairman of the Irish Fiscal Advisory Council, said the Government was growing spending at an unsustainable rate and failing to use the upswing to insulate the economy against the next downturn. Photograph: Dara Mac Dónaill
Fiscal council in stinging attack on Government’s budgetary policy

Watchdog claims Government is failing to manage public finances in prudent manner

A large majority (87 per cent) of Irish people also believe the shift to a single currency has been beneficial for the EU.
Brexit bedlam consolidates support for EU and euro in Republic

Eurobarometer survey shows overwhelming majority believe euro has been good for State

NYSE closed for Thanksgiving. Photograph: Bryan R. Smith /Getty Images
Shares fall back as investors fret about slowing global growth

In Dublin Smurfit Kappa hit by poor pricing data while builders rise on Brexit news

Professor Louden Ryan (right), then chairman of the National Planning Board in 1984 with Dr Peter Bacon, director of the board secretariat. Photograph: Paddy Whelan /The Irish Times .
Influential Irish economist and TCD academic Louden Ryan dies

Ryan played key role in formulating Irish economic policy in the 1960s and 1970s

OECD secretary general José Angel Gurria at the launch of the agency’s latest economic outlook in Paris. Photograph: Getty
OECD warns of another ‘boom-and-bust cycle’ in Irish economy

Agency says pick-up in housing activity has potential to trigger another credit boom

CSO figures indicate a need for foreign labour to fuel construction. However, they would place pressure on the already-stretched housing market as the new workers would need to be housed themselves. Photograph: Dara Mac Dónaill
Foreign workers are required to meet housing targets, says ESRI

Think-tank warns of accommodation and rent cost issues around inflow of labour

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