UK shops begin food rationing as result of coronavirus panic buying

UK supermarkets have begun rationing food for the first time as a result of coronavirus panic buying, according to a report in the Sunday Telegraph. Tesco is limiting the amount of baked beans, dry pasta and UHT milk its customers can buy to ensure it has supply, as its shelves were emptied across Britain.

On Saturday, the number of confirmed coronavirus cases in Britain rose to 209, with scientists warning diagnoses are doubling every other day.

The Sunday Business Post, meanwhile, warned that up to 1.9 million people in Ireland could be infected and become sick with the virus, putting immense strain on the health service. Health authorities expect half of this figure to become infected during a short three-week concentrated burst, creating huge pressure on hospitals.

Still on coronavirus, the Sunday Times reports that Aer Lingus staff are being urged to take unpaid leave as the virus hits bookings. It said the airline was looking for staff to volunteer to work part-time or to take unpaid leave over a 16-week period, as the wider airline industry faces heavy losses due to the outbreak.

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Nama unlikely to hit target of 20,000 new homes

Nama is set to miss its target of delivering 20,000 new homes by the end of this year despite being told to do so five years ago, a report in the Sunday Business Post says. Michael Noonan, the former minister for finance, announced in his budget speech in October 2015 that Nama had agreed to deliver the homes to address the "market failure" in the sector. However, Nama has so far managed to directly fund the completion of only 11,700 homes, with 10 months to go.

AIB freezes pensions of retired staff

AIB has frozen the pensions of more than 4,000 retired former employees, claiming it was unable to pay, and that there is a potential conflict with its duties to the State – the bank’s controlling shareholder – if an increase were to be paid this year, the Sunday Times has reported. Unlike other Irish banks, AIB has complete discretion over pension increases. After cancelling all increments in the wake of the financial crisis, it awarded a €10 million pension rise in 2018 and €12 million for last year. There will be no increase in 2020, however.

Crowley Carbon to invest €59m in Australia plan

The Wicklow-based energy group Crowley Carbon is planning to invest A$100 million (€58.7 million) in Australia and New Zealand to combat climate change, according to the Sunday Independent. The new investment, which is part of a joint venture with Australian business Climatech, will take place over five years as part of a global expansion plan. Crowley Carbon's investment in the region will include funding its car business, Electrifi, and Cool Planet Experience, a live-action climate change experience, in Sydney.

New owner of K Club set to rebrand Smurfit golf course

The Sunday Business Post reports that the new owner of the K Club in Co Kildare is to rename the golf course which bears the name of its founder, Michael Smurfit, as part of an investment and rebranding programme. Michael Davern, the resort's chief executive, told the Business Post that the Smurfit course, the smaller of the 550-acre estate's two gold courses, would be rebranded as the Straffan Golf Course and Club within months.