Facebook owner Meta Platforms is planning to cut about 5 per cent of its lowest performers with the intent of backfilling their roles this year, according to an internal memo sent to employees, raising fears of cuts at its Irish operation. Ciara O’Brien has the story.
It was a busy day for the Dublin Airport Authority on Tuesday. In an unexpected move, an application aimed at “swiftly” extending passenger numbers at Dublin Airport to 36 million per year has been ruled invalid by planners. Rejecting the move, Fingal County Council issued a statement describing filing shortfalls by airport management as “a matter of great concern”, bringing an abrupt halt to the efforts. Mark Hilliard has the details.
It’s a blow to the airport manager, and came hours after DAA chief executive Kenny Jacobs said airlines will boost seats on Dublin Airport flights this summer after the High Court stalled efforts to enforce a controversial 32 million a-year passenger limit there pending a ruling from Europe. Barry O’Halloran has that story.
Meanwhile the DAA also agreed to a strike-out of its challenge to a regulatory decision capping the charges it can levy against airlines until 2026. The DAA and regulator Irish Aviation Authority (IAA) reached a confidential agreement ahead of what was scheduled to be a three-week trial beginning on Tuesday in the High Court’s commercial division. Ellen O’Riordan was in court.
Away from DAA but still focused on the passenger cap, tourism chiefs are to target bigger spenders this year as part of plans to mitigate the effect of the cap on growth and build revenue from €7 billion last year out to €9 billion by 2030. Colin Gleeson has the story.
Galway-headquartered medtech company Aerogen has announced a €300 million “scaling and investment plan” which will create 725 jobs over the next 10 years. Eoin Burke-Kennedy reports.
UK lender Lloyds Banking Group will take into account the office attendance of senior executives when awarding their bonuses. The move by Lloyds, which has more than 60,000 staff, is the latest sign of the financial services industry seeking to tighten up its enforcement of hybrid-working policies almost five years since the coronavirus pandemic.
How should Ireland handle President Donald Trump? In his column, John McManus looks at why a successful businessman like Michael O’Leary may be best placed to pitch Ireland’s case to the incoming president.
Coming off a fixed mortgage rate? In Money Matters, Joanne Hunt explains why it’s never too early to switch mortgage providers.
Eoin also reports that stronger growth in the Republic’s economy has a positive “spillover” on the North’s economy, according to a new economic model developed jointly by the Economic and Social Research Institute and its UK counterpart the National Institute of Economic and Social Research.
Ireland’s switch to renewable energy sources has “stagnated”, according to a new report by the Central Bank which also suggests the State is struggling to rein in emissions from agriculture or get the necessary uptake in electric vehicles. Eoin reports.
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