Minister for Finance Paschal Donohoe suggested last night that companies that claimed taxpayer-funded wage subsidies should return the cash if they "didn't need it as much as they thought they did". It comes as Mark Paul writes about another company – the US multinational behind the Irish driver theory tests – paid dividends to offshore entities while taking subsidies.
Motorists are not receiving the full benefit of dramatically lower awards under Personal Injury Assessment Board decisions because of a spike in rejections in the State body's calculations, insurance executives have told the Oireachtas finance committee. Joe Brennan was there.
Economic recovery could stall if the new Omicron variant of Covid-19 triggers further health restrictions, the Economic and Social Research Institute (ESRI) has warned. Eoin Burke-Kennedy reports that the think tank also says inflation could rise further, to 6 per cent by March, before moderating to around 2 per cent in the final quarter of the year.
Speaking of inflation, the US Federal Reserve last night signalled three interest rate rises next year in a dramatic shift from their projections just three months. It comes as the bank assumes a much more aggressive approach to taming surging inflation.
And on much the same subject, Irish house price inflation has surged to a pandemic high of 13.5 per cent, according to the Central Statistics Office (CSO). The figures for October represent the strongest level of price growth seen in the market since June 2015, writes Eoin.
Fáilte Ireland has signed up to replace Glanbia/Avonmore as the new sponsor of RTÉ Weather on television and online from January 2022, in a deal that could be worth as much as €7.5 million a year, writes Laura Slattery. The State agency says it will use the three-year deal to encourage people to holiday at home and support the domestic tourism economy.
In the property world, Barry English, founder of Irish engineering group Winthrop, is understood to be closing on the acquisition of the popular four-star Killashee Hotel in Co Kildare from Tetrarch Capital for a sum of about €25 million.
Property developer Vieira lost its latest appeal against a €1.9 million VAT bill with the Court of Appeal agreeing with the High Court view that the principal aim of what it called an 'artificial' arrangement was to obtain a tax advantage.
And Ashtons, the landmark Clonskeagh pub, has been acquired by Irish hospitality group Press Up, known for its Union Cafe and Elephant & Castle eateries and design-led hotels.
In technology, Ciara O'Brien looks at seasonal apps that will help to keep your Christmas spirit alive.
And, in Net Results, Karlin Lillington looks at what Big Tech needs to do to ensure online safety for young people. They have the data and a role to play, the question is: will they?
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