Author: Practicenet

Householders face paying an extra €300 this winter for oil to fuel their heating systems. A surge in the cost of home heating oil and the price of petrol and diesel have pushed up the inflation rate to its highest level in more than a year. The cost of filling an oil tank has gone […]

Doubts about Elon Musk’s ability to take Tesla private mounted across Wall Street yesterday, wiping out the gains reaped from his initial tweet floating the idea. The stock plunged as much as 4.6pc to $353.33, below where it was trading two days ago and well off the $420 at which Mr Musk said shareholders would […]

Targets to limit immigration should be scrapped after Brexit, UK business lobby group the CBI has recommended. Businesses need a new immigration policy, avoiding visas for EU citizens and putting migration on the table for trade talks, according to its new report ‘Open And Controlled – A New Approach To Migration’. Evidence from 129,000 firms […]

Revenue at Kerry Group rose 1.4pc year-on-year to €3.2bn in the six months to June 30. The growth in revenue reflected volume growth of 3.6pc and a 0.6pc improvement in pricing, as well as the contribution from acquisitions, according to interim results from the group. However the consumer foods business saw its trading margin decrease […]

Northern Ireland’s biggest companies have seen their profits increase by almost 80pc in 12 months. This is according to the 2018 ‘Top 100 Companies’ from industry magazine ‘Ulster Business’. Leading the way was Armagh-based poultry producer Moy Park, which reported a turnover of £1.4bn (€1.57bn) over 12 months. This is the seventh year in a […]

Disruption to supply chains is one of the biggest risks facing the Irish food and drink industry, according to a new report from Bord Bia. As Brexit looms large, the ‘Food and Drink Supply Chain Logistics, Strategies for Success’ report found that increased lead times, especially when related to short shelf life food and drink […]

Construction costs will surpass 2006 levels this year and are rapidly approaching the highest levels of the Celtic Tiger bubble, according to new figures from the Society of Chartered Surveyors Ireland (SCSI). The higher prices have big implications for delivery of the Government’s ‘Ireland 2040’ strategic development plan, in particular for the success and cost […]

The west of the country looks set to lose dozens of post offices after it was confirmed 161 postmasters have been granted voluntary redundancy. An Post said the 161 postmasters’ offices, from among a network of 1,111, were now “likely” to close. It comes after a leaked document containing a portion of those taking the […]

Profits at Ireland’s biggest private landlord, I-RES Reit, more than doubled to €69.5m in the six months to 30 June. The performance was driven by a 13pc increase in net rental income to €19.3m, according to six month interim results from the group. I-RES Reit also reported an increase in its EPRA earnings for the […]

Globally, there are four big trends reshaping the aviation industry, which aviation companies and the Irish government alike must plan for. For half a century, the largest western airlines had the market for intercontinental air services to themselves. Now, competition for long-haul traffic is fierce, with the ‘Gulf Three’ diverting passengers who would previously have […]