An aging, scarred economy; paying for renewables; and putting the brakes on Tayto

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

A new report says single people face a bigger risk of an impoverished retirement.
A new report says single people face a bigger risk of an impoverished retirement.

An aging population, an economy scarred by Covid and banks' inability to repay their bailout funds as quickly as expected are all issues facing Minister for Finance Paschal Donohoe, according to a briefing document compiled by his officials. Joe Brennan has the details.

And a separate ESRI report published this morning finds that single people face a bigger risk of an impoverished retirement but also that policymakers might be well advised to persuade older people not to hoard their savings.

The Department of Finance briefing document also argues that some business owners have a strong case against insurers, including FBD, over the shuttering of their doors during the coronavirus pandemic, Joe reports.

EU officials have backed Government plans to get families and employers to pay up to €12.5 billion to support new green energy projects, writes Barry O'Halloran.

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The move comes on the same day that oil explorer Providence said it was confident its Barryroe field could fill the void left as Kinsale runs dry and Corrib's lifetime looks limited. But, as Barry writes, first they have to get the gas to shore.

Eir could lose more than ¤125 million in expected earnings under the national Broadband plan if Comreg acts to cut wholesale rates for fixed-line telecommunications as expected, writes Charlie Taylor.

Gardaí and the Revenue Commissioners have warned the public not to disclose bank account details over the phone to people posing as tax officials following the discovery of a "vishing" scam – where people ring to try to defraud you. Colin Gleeson reports

Tayto Park plans to spend €1.5 million making sure its roller-coaster is not too noisy, but that hasn't appeased neighbours who have again appealed planning permission for the attraction, writes Gordon Deegan.

Laura Slattery looks at the rapid evolution of Instagram in her column and wonders at its ability to sidestep some of the opprobrium that is a staple diet for its parent, Facebook.

In Personal Finance, Joanne Hunt looks at the costs of school and childcare and ways to defray those expenses.

And, in Q&A, a couple looks to gift their home to one of their eight children – while allowing them to live there for the rest of their lives and keeping their other seven adult children happy.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times