Any shortage of natural gas supplies in Britain would have an impact in Ireland, the Government has admitted. Britain’s National Grid Electricity System Operator (ESO) warned last week of a potential “knock-on” impact on natural gas supplies should Russia cut the flow of the fuel into Europe. Ireland imports 75 per cent of its natural gas via Britain through a pipeline called the Moffat Interconnector. Barry O’Halloran reports.
Potential foreign investors into Ireland have started to ask their local advisers about the prospect of a Sinn Féin-led government after the next election and how “business-friendly” it might be”, according to a senior partner at one of Dublin’s top corporate law firms, writes Mark Paul. William Fry, which has released data showing 122 buyout and merger deals involving Irish companies worth €6.4 billion were conducted in the first half of the year, believes there is likely to be a slowdown in deal activity in the second half of the year, as investors fret over the economic impact of interest rate rises and geopolitical concerns such as Ukraine war.
The Central Bank’s regulation of senior executives in financial services companies makes it difficult for those firms to find suitable staff, one of the most senior bankers in the country warned Minister for Finance Paschal Donohoe. Peter Flanagan reports.
High temperatures have always been a hazard for outdoor workers such as builders in hot regions like the Middle East. But as the planet warms and heatwaves become more frequent, the range of countries, workers and employers affected is set to widen. Sarah O’Connor on the emerging divide between those who have to go out in the midday sun, and those who don’t.
Retrofitting will be the biggest element of the bill for fitting heat pumps to homes, economists confirm in a report published on Wednesday. The Government is pinning part of its greenhouse gas reduction hopes on homeowners fitting electricity-powered heat pumps to replace oil and gas. A report by the Economic and Social Research Institute, due out on Wednesday, confirms that insulating homes to the B2 energy rating needed to support the pumps is the biggest element of the cost involved.
With the flow of Russian gas to Europe in ever more doubt this winter, the EU is grappling with how to ensure adequate energy supplies across its member states. As an island state unconnected to the EU gas network, Ireland has secured an exemption from a new EU directive that calls for a 15 per cent reduction in use. But that doesn’t mean Ireland can avoid any pain. Barry O’Halloran and Naomi O’Leary join Ciarán Hancock on the latest Inside Business podcast to discuss the crisis. Barry also reports on the latest Ryanair news, including Q1 results and baggage handling problems..
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