Monaghan warehousing firm Moffett to add 30 jobs Monaghan-based warehousing firm Moffett Automated Storage is to add 30 new jobs at its new head office.
Price hikes help Glanbia revenues rise to €2.8bn in first half of 2022 Food and nutrition group Glanbia expects higher prices to drive further revenue growth after double-digit hikes in the first six months of the year.
Record prices drive revenue and profit growth at Irish mining firm Kenmare Slowing global growth is the biggest risk for Irish mining firm Kenmare, which extracts ilmenite from its large Moma mine in Mozambique.
Premium Limiting cuckoo funds’ borrowing ‘a better way of cooling rental market than caps’, EU report finds Limits on the amount cuckoo funds can borrow to fund real estate development would be better at cooling rents than a rent cap, an EU report has found.
IT sector powering services rebound, with hospitality and transport yet to catch up The IT sector is driving a surge in Irish services output, which is now more than 20pc ahead of pre-pandemic levels.
Fuel costs drive import boost in June as exports see €3bn surge - CSO data Goods imports and exports were up around 30pc in the first six months of this year, compared to the same time in 2021.
One-in-three employers to lift pay and perks this autumn Irish workers are set for a pay rise in the next three months, with counter-offers and bonuses on the rise as company bosses jostle with each other to keep or hire away for talent.
US firm TE Connectivity opens €5m medical device centre in Galway Global engineering firm TE Connectivity has opened a €5m medical device prototyping centre in Galway.
Gas demand up in July, despite warmer weather Gas demand was up 5pc in July, compared to June, and up 10pc on last year, despite the warmer weather, according to Gas Networks Ireland.
Construction lull threatens to slow supply of housing amid costs crisis and economic uncertainty A construction slowdown that threatens the pace of future housing supply has worsened through the summer, new industry data shows.
Gallery Push for gaming tax relief to win next-level investment Hopes are high that an “upscaling” of a tax relief for video games – similar to the well-known film and TV credit – will result in an influx of new investment.
Global tax deal in doubt due to US exclusion of offshore profits A global corporate tax deal is still out of reach, despite the US approving a 15pc tax on its own firms’ profits.
Prices rose 9.1pc in year to the end of July but pace of increases has slackened Irish prices rose 9.1pc in the year to July which continues a 38-year high on a twelve month basis.
Knowledge Development Box tax relief could get the axe in Budget 2023 The Government could be ready to scrap a 6.25pc patent tax relief, but officials are more cautious on calls to hike a separate research and development (R&D) tax credit or lowering capital gains tax.
Premium ‘I was able to test and see where my ovarian reserve was going, I knew I didn’t have that time’ Entrepreneur and venture capital lawyer Deirdre O’Neill does not hold back her distaste for firms who help staff pay for egg freezing and IVF, without other supports.
Premium Spike in SME distress as post-Covid reality hits Evidence of an increase in post-Covid insolvencies is beginning to emerge among SMEs as firms confront the reality of doing business without subsidies.
Gallery Premium Eat up your mealworms – insects could soon be on the menu in Ireland Insects could soon make their way into Irish pastas, burgers and protein shakes, as a French firm backed by US actor Robert Downey Jr scales up its operations.
Irish industry survey hits Covid-era lows in July Irish factory output and new orders fell for the second month in a row in July as demand took a hit due to rising costs and a global downturn in activity.
Many small firms say they can’t face yet another crisis after Covid and will close Having been through the financial crisis and Covid, business owners – especially those in their mid-50s – are getting ready to “cut and run” as inflation surges and another slowdown looms.
Biggest Northern Ireland firms see profits surge as investment flows in Northern Ireland’s largest firms have reported a 46pc surge in pre-tax profits year on year, despite sales rising just 2.6pc.
Gallery That’s the spirit: Meet the women forging careers in Irish whiskey Irish whiskey is having a moment, with two million more cases sold last year than before the pandemic.
Rising costs and big bills prevent businesses living up to their promises for ethical investments While most businesses say green and ethical investments are a priority, not many are splashing the cash to back up their pledges.
Premium Sarah Collins Opinion Double-digit inflation is heading our way as GDP growth slows down Inflation here could hit 10pc before the summer is out as Russia cuts gas supplies to Europe, workers demand pay increases and price rises become embedded in the services sector of the economy.
Irish inflation holds steady in July at 9.6pc – Eurostat Irish consumer prices rose 9.6pc in the year to July – the same rate of increase recording in June – according to a flash estimate from the EU’s statistics agency.
Kerry Group sees uptick in revenue and earnings despite inflation and Russia losses Kerry Group has seen a 13.3pc rise in revenue in the six months to June, to €4.1bn, on the back of increased sales and higher consumer prices.
Aer Lingus owner IAG returns to profit in second quarter Aer Lingus owner IAG returned to profit in the second quarter as passenger traffic picked up in the spring. However, both Aer Lingus and the larger group saw a loss in the year to date.
AIB sees €477m profit in 2022, expects “upside” to income despite costs AIB has reported an after-tax profit of €477m in the six months to June, and signalled potentially higher returns later in the year on the back of buoyant income.
Drinks can maker Ardagh sees earnings uptick despite energy cost spike Drinks can giant Ardagh Metal Packaging (AMP) has reported buoyant revenue and earnings growth, despite spiking energy costs eating into its European business.
Global slowdown is set to hit Ireland’s growth, Ibec warns Fears of a global slowdown are filtering through to the Irish business community and business group Ibec warns that growth will fall sharply next year .
Irish airports top European list for traffic recovery Irish airports have seen the largest jump in passenger numbers in Europe this year, as traffic chaos continues to plague the continent.
