Mortgage-holders knew it was coming, but it still won’t be pleasant. The European Central Bank (ECB) has raised interest rates to their highest level in more than 20 years, heaping pressure on borrowers and indicating that more pain is on the way. Conor Pope explains what the ECB did yesterday, while Eoin Burke-Kennedy has more on the economic picture behind the move. Conor also speaks to one homeowner who will soon have seen her monthly repayments jump from €765 to €1,089 as a result of the ECB’s policy moves.
Three top executives who quit Waystone, the Dublin-based fund services giant, three months ago have set up an agritech venture capital firm and are looking at establishing a carbon credits exchange based on blockchain technology. Joe Brennan reports that the new COMOP entity will focus on investing in agritech businesses that are seeking to improve the use of commodities and resources.
A Dublin-listed investment company has written down the value of its stake in Revolut by 40 per cent after a challenging period for the fintech. Molten Ventures, formerly Draper Esprit, did not give a reason for the decision, but it is not the first investor to make such a move. Ian Curran reports.
Italian insurance giant Generali has agreed to buy Liberty Mutual’s business in Ireland as part of a €2.3 billion deal that will also include operations in Spain and Portugal. Joe has more on the transaction, which marks a return by the Italian group to the Irish general insurance market some 22 years after it closed an office in Dublin. Liberty Mutual has been in the Irish market since 2011, when it took over the main business of Quinn Insurance, then in administration.
Wills without residuary clauses can see people inherit even if you didn’t want them to
Ireland needs to oppose EU proposals to cut patent protection on medicines
Negotiation is a fact of life, whether you are trying to buy a house, close a deal or squeeze a pay rise
AIB offloads risk and obesity drug boss calls on Ireland to step up to the plate
Shopping centre valuations have been hitting the headlines of late, particularly in light of Goldman Sachs putting the Blanchardstown Centre in Dublin up for sale for less than it paid for it in 2020. Ian Curran takes an in-depth look at the sector today, examining dynamics such as ecommerce and wider commercial property uncertainty that might be at play. As one expert tells him, this is a sector where “you can alarmingly quickly lose an alarming amount of money”.
In his Any Other Business column, John Burns investigates the business Boris Johnson’s top adviser is doing in Dublin, as well as DAA’s encounters with Ryanair, Donald Trump’s Doonbeg earnings and what might be next for the GPO.
John FitzGerald has had a long read of the most recent census data, writing in today’s column that it is a vital source of detailed local information, particularly when it comes to forming policy. He considers in particular transport and the environment, arguing that the latest data on commuting shows that we need better and more reliable public transport (not just more cycling infrastructure) if we’re to get people out of their cars.
MBAs and other fourth-level degrees used to be tied down as the accepted route to senior management, often at much expense to the student. But is this model still fit for purpose? Olive Keogh asks if shorter and more targeted courses might be a better solution for those seeking career advancement.
Today’s Wild Goose is Down native, Sharon Farrell, who has created a successful career as a one-stop shop for Irish and British expats moving to the Algarve. “Miss Connector” tells Brianna Parkins how this part of Portugal always felt like home, even when she was still living in Belfast. She now offers guidance on everything about settling in the Algarve, from finance and property purchases to explaining how medical services work or what schools are like.
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