Listed companies tap stock market, Covid hits tourism, and remote working

Business Today: the best news, analysis and comment from The Irish Times business desk

The biggest share sale so far this year has been the €900 million placing by Paddy Power owner Flutter Entertainment.
The biggest share sale so far this year has been the €900 million placing by Paddy Power owner Flutter Entertainment.

Listed Irish companies have raised more than €1.44 billion in shares sales since the onset of the Covid-19 crisis, with more to follow suit if stock markets maintain their gains over the past five and a half months. Joe Brennan has the details.

In the tourism sector, Joe also reports that hoteliers have warned that almost three-quarters of Irish jobs are at risk of being wiped out this year if the Government does not step in with supports.

On a related note, Barry O'Halloran has cast his eye over the beleaguered aviation sector, arguing that, while it pulled us out of the last recession, it may not be around to do it this time.

In more positive news, a tentative revival in virus-hit consumer spending may be under way, according to data from Revolut, a fintech payments platform with more than one million Irish users. Mark Paul reports.

However, for businesses struggling with the effects of the pandemic, the Government's €2 billion Covid-19 credit guarantee scheme opens for applications today and will run until the end of the year. Jack Horgan-Jones has the details.

Finally, in her column this morning, Pilita Clark outlines some of the smart ways to handle remote work, and some of the dumb ones.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times