Business Today: Gambling law carve out, big exchequer surplus and when to cut interest rates

The gambling industry has been lobbying hard against the Government’s plans to update regulation of the sector to catch up with the modern world. Now it appears the legislation will at least exclude charities from a proposed ban on broadcast advertising for much of the day. Barry O’Halloran has the details.

The Government is forecasting a budget surplus of €8.6 billion this year and cumulative surpluses of €38 billion over the next four years on the back of windfall corporate tax receipts, yet as Eoin Burke-Kennedy reports, Minister for Finance Michael McGrath is warning the economic picture is darkening.

Investors behind Weston Airport, a group that includes Stripe co-founder John Collison, have revalued the land and property at the airport from €7.9 million to €15.9 million, new company documents show. Barry J Whyte reports.

When to cut interest rates? It’s a question that central banks around the world are grappling with right now, and as Martin Wolf writes, there are no easy answers to that question.

Retiring workers could end up out of pocket by thousands of euros every year for the rest of their lives if the new master trusts managing Irish pension funds continue to struggle with capacity constraints. Dominic Coyle has the story.

Treacys Hotel Group and US fund Cerberus have settled a legal row over the €1.5 million sale of a high-profile property in 2016. The group had asked the High Court to enforce a contract to buy the Ard Rí Hotel overlooking Waterford city, for €1.6 million, which the business maintained that it agreed with US fund Cerberus and receiver Luke Charleton of EY – previously Ernst & Young – on November 21st, 2016. Barry O’Halloran was in court.

Staying with the hotel industry, in commercial property Ronald Quinlan reports that the Slieve Russell hotel in Cavan, once the jewel in Sean Quinn’s empire, is going up for sale for about €35 million. Ronald also reports that Derek McGrath’s Core Capital is understood to be closing in on the purchase of number 5-9 South Frederick Street in Dublin’s south city centre for about €10 million, while 66 Fitzwilliam Square is on the block for €3.8 million.

The owner of The Journal news website has pulled out of a sale of the brand to Irish Independent owner Mediahuis and is committed to the business, founder Brian Fallon has told staff. Ian Curran reports.

In Money Matters, Brianna Parkins looks at the best ways to finance a new car – something that will for most people be among the biggest purchases of their lives.

Young people experienced the biggest drops in employment and participation during the Covid-19 pandemic, according to a new study from the Irish Human Rights and Equality Commission and the Economic and Social Research Institute (ESRI). Colin Gleeson has read the report.

The owner of Tara Mines has secured planning permission to develop a €20 million 18MW solar farm on an 84-acre site adjacent to its zinc mine site in Co Meath. Gordon Deegan reports.

Google has announced the new top executive for its Irish business, with the group’s current vice-president of EMEA sales, Vanessa Hartley, stepping into the top role with immediate effect. Ciara O’Brien reports.

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