The Government’s vacant sites, a trade war beckons and Paddy Cosgrave’s crusades

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

Global trade uncertainty: The US has imposed tariffs on steel and aluminium imports from Europe, Canada and Mexico. Photograph: Getty
Global trade uncertainty: The US has imposed tariffs on steel and aluminium imports from Europe, Canada and Mexico. Photograph: Getty

At least 334 sites or buildings ultimately controlled by the Government are lying idle around the State, according to a new analysis from Peter Hamilton. The research finds that while the Health Service Executive is the worst offender in presiding over empty properties, the list of unoccupied Government-owned sites also includes former Garda stations, courthouses and customs posts. Peter takes an in-depth look at the issue in this week's Agenda.

The spectre of a global trade war is rising, as the world reacts to the imposition of steel and aluminium tariffs by the US on the EU and other major traders. Suzanne Lynch has the latest on the tariffs, which officially kicked in at midnight last night and are attracting near-universal criticism. The move will be eyed with particular caution at the Aughinish Alumina plant in Co Limerick, which is already struggling to respond to US sanctions against its Russian owner. Eoin-Burke Kennedy explains the wider issues at play.

Joe Brennan brings us up to date on the ongoing liquidation of Irish Bank Resolution Corporation, the bank that seemingly refuses to die. By the time it's over, the process of winding up the former Anglo Irish/Irish Nationwide combo is expected to have cost a cool €306 million.

Champagne may have been served in a paper cup at Clare-based CupPrint yesterday, as news broke that a Finnish group had picked up a majority stake in the paper cup manufacturer and designer for €22 million. Charlie Taylor reports.

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In slightly larger acquisition news meanwhile, Barry O'Halloran has the details on French company Infravia's purchase of the Mater Private healthcare group in a deal thought to be worth some €500 million.

INM judgment

Mary Carolan reports that the High Court will rule this morning on Independent News & Media's challenge aimed at preventing the State's corporate watchdog proceeding with his application to appoint inspectors to the media group. Judgment is due around mid-morning, with all the latest updates here.

This week's Business Interview sees Fiona Reddan talk to Tom Walsh, co-founder of aparthotel group, Staycity. Walsh outlines the business's expansion plans, which include controlling 7,000 "keys" across Europe and being the largest European aparthotel operator by 2022.

In his Caveat column, Mark Paul considers the phenomenon that is Web Summit founder Paddy Cosgrave, who this week vented on Irish housing policy and corruption. Mark, who judges that Cosgrave "is becoming more and more like Michael O'Leary by the day", goes on to look at the idea of corporate citizenship, and asks when it makes sense and when it doesn't.

John FitzGerald in his weekly column cautions against the "heads will roll" reactions that are so tempting in the face of public outcries, such as the response to the cervical cancer testing scandal. The "shoot first" approach to accountability can be dangerous, he argues.

Finally, if the sunny weather is putting you in mind of moving permanently to warmer climes, you might want to take advice from this week's Wild Geese – Andrew Cromien and Lorna Lee – for whom a jump to the south of France is working out très, très bien.

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Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is Digital Features Editor at The Irish Times.