Author: Practicenet

Mitsubishi Corporation has taken a majority share in Irish energy trading firm ElectroRoute that will see it expand its operations beyond the eight European markets it currently operates in. ElectroRoute’s entire senior founding management team will stay in place, including chief executive Ronan Doherty, despite Mitsubishi taking a 60pc stake in the firm. The company, […]

Tesco has pulled dozens of Unilever brand products from its website after a disagreement over prices in the wake of a partly Brexit-driven slump in the British currency. The dispute between two of Britain’s best-known companies shows how the UK’s decision to quit the European Union has exacerbated tensions between suppliers and retailers, which are […]

Outsourcing giant Capita has been hit with a €1.15m fine from the Central Bank for conducting some business here without proper authorisation. In a statement, the Central Bank of Ireland said it has fined Capita Life and Pensions Services (Ireland) Limited €1,150,000 and reprimanded it for breaches of the Investment Intermediaries Act, 1995 (the “IIA”) […]

Banks and builders are the main winners from minister Noonan’s €1.3bn budget package, according to Irish stockbrokers Goodbody and Davy. The new help-to-buy scheme was introduced to improve the mortgage market and increase house building. Goodbody tipped AIB and Permanent Tsb to be the biggest beneficiaries from the scheme, which the broker said should help […]

More than half of Irish companies are now less likely to hire workers from the UK due to the potential need for work visas and increased complications, new research has shown. Despite job postings from foreign direct investment hitting an all time high in 2016, Irish businesses now see UK workers as less attractive after […]

Controversial airline boss Michael O’Leary has offered to build a third terminal worth €200m at Dublin Airport, it has been reported. The offer bears similar hallmarks to the construction of Terminal 2 six years ago. During the construction of the second terminal Mr O’Leary clashed with the airport’s manager, the DAA, over the design and […]

Ireland’s 2017 budget goes beyond the limit of prudent policy, the country’s fiscal watchdog said Wednesday after the government announced a €1.3bn package of spending increases and tax cuts. The measures appear to break European Union budgetary rules, but not by a significant enough margin to justify fines, the head of Ireland’s Fiscal Advisory Council […]

The garda anti-burglary initiative, Operation Thor, is to continue next year after €71.5m was set aside for overtime payments. But Tánaiste and Justice Minister Frances Fitzgerald has said no additional money is being set aside for garda pay claims. The funding for Operation Thor is part of the €2.5bn Department of Justice Budget for 2017 […]

Hoteliers and restauranteurs have welcomed the decision to retain the reduced 9pc VAT rate in Budget 2017. But Michael Noonan appeared to fire another warning shot across the bow of the tourist industry in particular, noting that the economic case for the special rate has arguably diminished. “The tourism and hospitality industry has recovered well,” […]

The main speeches have been given, the briefcase has been pictured and we’re trying to figure out what it means for us. If you’re a motorist, no fear, here are the five things it means for you: 1. Push to go electric VRT relief (€5,000) on electric vehicles is extended for five years. Buyers benefit […]