Ibec wants end to retirement relief ceiling

The best news, analysis and comment from The Irish Times business desk

Ibec chief executive Danny McCoy has told the Minister for Finance Michael McGrath that the plan to put a €10 million ceiling on the retirement relief should be “abandoned” as it could generate huge tax bills for family businesses where ownership is being transferred from one generation to the next. Ciarán Hancock has the story.

Remote working and unaffordable housing has hollowed out parts of New York, Governor Kathy Hochul told Eoin Burke-Kennedy. She also warned Donald Trump’s election could result in a trade war with Europe.

In her column, Laura Slattery breaks down the latest radio listenership figures and looks at why Pat Kenny appears to be going from strength to strength more than a decade after he left RTÉ.

Bank of Ireland has warned consumers about a new wave of purchase scams luring unsuspecting shoppers through online ads to make payments for goods and services that subsequently turn out to be fake. As Conor Pope reports, in the past year, there has been a 32 per cent increase in purchase scams reported to Bank of Ireland.

A local group says Dublin Airport operator DAA will not consider proposed changes to flight paths that the organisation maintains have sparked multiple complaints from nearby residents. DAA and locals have clashed over flight paths from the north runway since it opened in 2022, with residents complaining about noise and other issues. Barry O’Halloran reports.

In Your Money, Fiona Reddan assesses the possible changes coming for how investments are taxed in Ireland. Dominic Coyle meanwhile answers questions on the tax implications of housing foreign students as well as how long one should retain paper tax records.

Central Bank governor Gabriel Makhlouf has renewed his warning that investment funds face more regulation, warning that there will always be a danger from investment managers protecting their own fund and in turn contributing to a wider crisis.

Irish people may not benefit from cheaper than expected flights this year because of a passenger limit at Dublin Airport, according to airline Ryanair. Its chief executive Michael O’Leary said on Monday that air fares were not increasing at the pace Ryanair expected as the airline reported a €1.92 billion profit for its last financial year and pledged to return €700 million to shareholders. Barry has the story.

After Ryanair’s earnings on Monday, Cantillon assesses what it means for air fares, while also noting a big hedge fund’s bet against Flutter.

Jobs that require artificial intelligence skills carry big average wage premiums in some markets, according to a new report from PwC. Colin Gleeson reports that PwC’s inaugural 2024 Global AI Jobs Barometer analysed more than half a billion job ads from 15 countries.

Zeus Mobility, the Irish electric scooter company, is ramping up its presence in the UK where it recently signed a new agreement with a ninth local authority to provide its services in the jurisdiction. Ian Curran has the details.

The number of allegations of discrimination on the basis of either race or sexual orientation made against employers was substantially up in 2023, according to the latest annual report of the Workplace Relations Commission. Emmet Malone reports.

Shares of Keywords Studios surged more than 55 per cent in London after it emerged that European private equity group EQT is in advanced discussions to buy the Dublin-based video game services company for £2.2 billion (€2.6 billion), in the latest potential takeover of a London-listed company.

The former president of the professional body for auctioneers has resolved on confidential terms a Workplace Relations Commission complaint in which he alleged “penalisation” by the organisation. Arthur Beesley was there.

Dublin City Council has refused planning retention for a souvenir shop on Dublin’s Grafton Street because, the council said, the outlet would set an undesirable precedent for similar type development and would devalue property in the vicinity. Gordon Deegan has the details.

Gordon also reports that a south Dublin couple have stalled plans for 109 residential assisted-living units for people aged 65 and over on lands owned by the Society of Sacred Heart order of nuns beside Mount Anville girls’ schools in Goatstown.

Finally Doireann Healy tells us how she manages her money.

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