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Data centres have become one of the most controversial developments in recent years as their electricity use has spiked – they now use more electricity per year than all urban homes in the State. That has led to an apparent moratorium on new data centre connections to the grid. Yet according to one expert, the problem isn’t with data centres, it is with a lack of investment in new power plants. Barry O’Halloran has the story.
Raising credit union lending limits would offer “immediate and tangible benefit” to homebuyers, given the evidence of strong and growing demand for the sector’s mortgage products, the Irish League of Credit Unions (ILCU) has said. The ILCU’s argues that given the state of the housing market now, it should be allowed to lend more easily than current rules allow. Ian Curran has the details.
In Your Money, Dominic Coyle answers questions on why unmarried couples can be locked out of inheritance tax exemptions. Meanwhile Fiona Reddan looks at what champagne sales can tell us about the state of the Irish economy.
Take-home grocery sales appear to have been boosted by an unprecedented number of sporting events this summer. According to retail analysts Kantar, supermarket sales in the Republic rose by 7 per cent in the four weeks to August 4th, a period that included the Olympics in Paris and two All-Ireland finals. Eoin Burke-Kennedy reports.
Eoin also reports that the Government has been urged to reintroduce Section 23 tax breaks for builders and developers in the upcoming budget in a bid to boost the supply of rental properties. Under the original tax-relief scheme, which was discontinued after the crash, investors were allowed generous tax breaks for renovating or buying properties (mainly in inner-city areas) for the rental market. Now though, the Institute of Professional Auctioneers and Valuers, say the relief would enable an investor to offset taxable rental income for buying a new property for rental purposes.
In her column, Laura Slattery assesses the state of the Dublin radio market after the latest listenership data. The numbers show a few surprises.
Cantillon looks at how rating agency Moody’s now views the Irish economy, while also assessing what the proposed expansion of London City Airport could mean for Irish travellers who commute regularly to London.
Fashion chain Ted Baker will close all its stores in the UK and Ireland this week, bringing an end to its position on high streets and putting more than 500 jobs at risk. Its 31 remaining stores in the UK and Ireland will close before the end of the day on Tuesday and the website has also been pulled. The company employs 78 people in Ireland.
Musgrave has announced the appointment of Luke Hanlon as managing director of SuperValu and Centra, two of Ireland’s leading grocery retail and convenience brands. The group said Mr Hanlon has taken up the role with immediate effect following the conclusion of a “comprehensive” executive search process. Colin Gleeson reports.
Plans for a series of one-day strikes intended to close down large building sites have been criticised by employers who say the union involved agreed a multiyear deal on pay just eight months ago. Unite, the union which represents plumbers, fitters and welders on construction sites across the State, says it is seeking the restoration of a travel allowance worth more than 12 per cent of pay. Emmet Malone has the story.
Finally Nicky Blake Knox, commercial director at the Conrad Hotel in Dublin, explains whether she is a saver or spender.
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