Shoppers in Ireland are paying significantly more for home-produced goods — such as Clonakilty sausages, Irish yoghurts and Sudocrem — than customers in British supermarkets, according to the Sunday Times. It said some retailers operating in both markets — including Tesco and Boots — charge Irish customers more for the same products at current exchange rates. Those retailers are also charging Irish customers a significant premium on other goods on shelves in both countries, the paper says, raising questions over whether Irish shoppers are getting a fair deal during an escalating cost-of-living crisis.
Meta’s data centre used same electricity as 151,00 homes
The 150,000sq m data centre in Clonee, Co Meath, operated by Facebook-owner Meta, used the same amount of electricity and emitted carbon at the same rate as roughly 151,000 homes last year, the Business Post reports.
Meta’s water usage has also more than doubled from 2019 to 928,000 cubic metres in 2021, the same amount as a 20,000-person town, the paper says.
The news comes as IDA Ireland’s departing chief executive says the moratorium on building new data centres in the Greater Dublin Area is weakening Ireland’s position as a European tech hub.
Planning regulator Niall Cussen: We can overcome the housing crisis, ‘if we put our minds to it’
On his return to Web Summit, the often outspoken chief executive Paddy Cosgrave is now an epitome of caution
Surviving a shake-up: is restructuring ever good for staff?
The Irish Times Business Person of the Month: Dalton Philips, Greencore
Workers face €2,150 tax bill for status quo on State pension
Budget watchdog the Irish Fiscal Advisory Council (Ifac) has warned that the price of keeping the State pension age at 66 might be an additional €2,150 tax and PRSI bill every year for workers on a “typical” salary of €35,000.
The number has emerged after Taoiseach and Fianna Fáil leader Micheál Martin said the State pension age should not be raised despite increased longevity and concerns over its financial sustainability. Ifac chairman Sebastian Barnes said the watchdog was worried people might be “underestimating” the future tax increases required if the State pension age were to stay unchanged.
Large energy-consuming firms warned to prepare for gas rationing
Also in the Business Post, Lorcan Allen and Daniel Murray report that large Irish energy-consuming firms are being warned to prepare for gas rationing this winter as Europe’s supply crisis deepens. Some sectors of the economy, such as pharma and food, might be given priority or even exempted from rationing but business leaders overall are preparing to make difficult decisions.
Waste sector consolidation looms for City Bin
Family-owned waste firm Thorntons Recycling is understood to be in advanced talks to buy rival City Bin Co, the Sunday Times reports. The move, which would add roughly 50,000 mostly residential customers in Dublin and Galway to Thorntons’ 75,000 residential and 5,500 commercial customers, would make it the second largest player in the Irish market after Panda and Greenstar owner Beauparc.
Irish sovereign wealth fund poised to exit infrastructure portfolio worth more than €1bn
The Irish Strategic Investment Fund is preparing to sell a huge portfolio of assets, including Dublin’s Convention Centre, the Sunday Times reports.
Australian investment fund manager AMP Capital is now preparing the sale of the €1 billion-plus fund in which Ireland’s sovereign wealth fund is the largest of about 30 investors. The fund generates earnings of €60 million-€80 million annually, the newspaper reports, quoting sources. It follows Isif’s exit from non-bank lender Finance Ireland.
Plans submitted for €150m green hydrogen plant in Mayo
The Sunday Independent reports that Limerick company Constant Energy has submitted a planning application to Mayo County Council for a green hydrogen plant on a 5.5 hectare site near Bellacorick.
In an investment that could be worth €150 million, the developers estimate that work on the plant could be completed by 2026, according to the planning documents seen by the newspaper. Constant Energy has already received permission for a 200-megawatt natural-gas-fired peaking plant near the site but the documents indicate the hydrogen plant will now be prioritised, the newspaper reports.
