Ireland’s corporation tax bonanza of recent years has been well documented, but now that Donald Trump is back in office, that particular gravy train may be about to come under threat. US president Donald Trump has moved to pull his country out of a landmark global corporate tax deal, setting up a potential stand-off between his administration and the European Union, with Ireland caught in the middle. Jack Power and Eoin Burke-Kennedy have the details, while Cliff Taylor breaks down just what is at stake in the row.
Trump was inevitably the main topic of discussion at the second day of the World Economic Forum at Davos, with EU Commission president Ursula von der Leyen and German leader Olaf Schultz among those choosing their words carefully. Eoin is at the forum in the Swiss town, where he also assesses the view on where Trump’s tactics come from.
Intel is still betting big on Ireland with the company’s €17 billion Leixlip plant seen as an “critical” to reversing the slide in the once-dominant chipmaker’s fortunes, according to sources close to the company. Eoin has the details.
Kilkenny-based nutrition group Glanbia is planning a restructuring of the administrative functions at its Irish locations in a move that will involve up to 60 redundancies, some of them compulsory. As Ciaran Hancock reports, staff have been informed that a new centralised unit is being established – Glanbia Enterprise Solutions – for the delivery of finance, HR and IT services to the business. Some of this work will be outsourced to third-party providers.
The economy is currently experiencing a “moderation” in growth, according to Ibec, which is forecasting a slowdown in employment growth in the coming years. As Colin Gleeson reports, the business lobby group’s latest economic outlook is forecasting gross domestic product growth of 1.7 per cent this year and 2.1 per cent in 2026. It says the moderation is “not unexpected”, particularly given the turbulence faced by some of Ireland’s largest trading partners.
With the next government set to be formally take power today, John McManus looks at what we can expect from the new(ish) team, and what deals may have been agreed to get a working majority into place.
How hard is it to save, really? In Money Matters, Joanne Hunt looks at how a little bit of planning, and consistently setting aside just a few euros per month, can add up quickly.
BNY Mellon has announced the closure of its facility in Wexford with about 300 jobs impacted. The global financial firm employs about 310 employees at its offices in the Drinagh Business Park on the outskirts of the town. There had been widespread reports over recent days that jobs at the firm were in jeopardy. Brendan Furlong has the story.
Online payments firm Stripe is to make 300 staff redundant over the coming months, including a small number in Ireland, as part of what is understood to be a review of some aspects of its operations. A consultation process has been initiated with the people whose roles are expected to be impacted and this is expected to be complete within a matter of weeks. Emmet Malone reports.
The Blackrock Clinic is to create 50 jobs by establishing a women’s health centre over four floors in a new Dublin city centre location “in a pivotal step forward in enhancing women’s health services”, the company said. Gordon Deegan has the story.
Munich Re, the world’s largest reinsurance group, is seeking to cut as many as 18 jobs – or almost 12 per cent of roles – within its Irish software technology unit, Munich Re Automation Solutions, as part of a restructuring of the business.
In Commercial Property, Fiona Reddan reports that The Morrison Hotel, on Dublin’s north quays, has been put up for sale, with the sellers seeking between €90 million and €95 million. If it achieves this price level then owner Zetland Capital/Centauro Holdings, a UK private equity investor, would stand to secure a significant return on its original €65 million investment.
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