Corporation taxes jumped fourfold in July compared to the same month last year even as the Government grows increasingly concerned about the multinational companies driving those revenues. Meanwhile, writes Eoin Burke-Kennedy, VAT receipts proved more modest than expected raising concerns about consumer spending.
Apple agreed to spend another $100 billion on expanding its US manufacturing footprint as US President Donald Trump said he would impose a 100 per cent tariff on imports that include semiconductors, though would exempt companies moving production back to the United States. It comes as the 15 per cent tariff on US imports from the European Union kick in today.
Meanwhile, as President Trump returns to the notion of supertariffs of the pharma sector, Eoin Burke-Kennedy examines what the latest pharma threats mean for Ireland?
The future of accessories retailer Claire’s is uncertain after the parent of the 20 Irish stores filed again for bankruptcy protection in the US. Conor Pope writes that restructuring firm Interpath which was tasked with finding a buyer for the European operation struggled to find a financial backer.
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Sticking with retail, Hammerson’s Irish boss, Connor Owens, who is credited with revitalising the group’s Irish operations, has been headhunted by the new US owners of the Blanchardstown Centre to run its business here. Barry O’Halloran reports.
A factory worker whose employer forced him to retire at 65 despite his contract having no such stipulation has been awarded €18,000 by the Labour Court.
The Irish are buying back into foreign holidays as Central Bank data shows that credit and debit card users spent more on hotels abroad than in Ireland in June for the first time since 2022. Ian Curran has the details.
Tourism Ireland spent over €2.4 million on a campaign to attract environmentally conscious visitors who were looking for a “slower paced, more immersive holiday” and, according to early data it has been a success. Ken Foxe reports.
In her Net Results column, Ciara O’Brien looks at the belated rise of femtech, noting that there is clearly money to be made catering to a group that comprises 51 per cent of the population and 48 per cent of the workforce.
Meanwhile, Emmet Ryan looks at Big Tech’s focus on partnering with major sporting events and wonders whether it will transform how we watch sports?
Conscious of the limitations of Ireland’s online banking offering, Niall Dennehy applied his background in banking, telecoms and digital payments to develop NestFi, an app that allows an extended family and friends invest in the future of a child.
Finally, in our Inside Business podcast this week, host Ciarán Hancock talks to Siobhán Maguire about Revenue’s recent wake-up call to influencers about how those freebies on which they build their brand are, in fact, taxable.
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