Central Bank governor Gabriel Makhlouf has warned that rule-breaking budget spending over an extended period will aggravate inflation and hit sustainable economic growth. Joe Brennan tuned in to his appearance before an Oireachtas committee in the wake of last week’s €10.5 billion Budget 2025 package. The governor also fielded criticism over Central Bank authorisation for Israeli bonds.
Ireland’s accounting watchdog is reminding companies of the need to disclose if they are subject to a regulatory investigation where there is a possibility that it could lead to a fine or other financial settlement. The Irish Auditing and Accounting Supervisory Authority said it had identified companies not disclosing or addressing reputational risks in the management reports section of their annual financial reports.
And Europe correspondent Jack Power reports that the EU’s top spending watchdog – the Court of Auditors – has raised concerns about the levels of checks and controls on billions of euro given to EU countries to help them bounce back from the Covid-19 pandemic.
Back home, ICS Mortgages has launched the first bridging loan product since the financial crash in a move it says will help ease a bottleneck in the second-hand property market, making it easier for individuals to trade up or down. Joe Brennan has the details.
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Irish shoe brand Dubarry blamed weaker sales and tighter margins as pretax profits slumped over 20 per cent to €3.77 million last year in “a particularly challenging trading environment”. Sales were over 10 per cent weaker, writes Gordon Deegan.
Life is challenging also in the motors sector, with all growth appearing to be on the used import side of the business, according to new CSO figures which show a 27 per cent rise in that subsector as private new car sales stagnate and electric vehicle sales continue to lag last year’s numbers by around 25 per cent. Fiona Keeley reports.
The US Government is considering seeking the break-up of Google to end its monopoly after winning a landmark case in August, when a judge ruled Google had violated US antitrust law and branded the company a “monopolist”. Google has indicated it will appeal the ruling all the way.
Separately in the US, in a dispute characterised by missteps on both sides, Boeing risks further inflaming tensions with striking workers by withdrawing a pay offer.
Looking at the current plight of Boeing and one-time chip behemoth Intel, Chris Horn argues that the two symbolise America’s manufacturing decline. Innovation is needed to restore the US’s leadership in this area not subsidies or tariffs, he writes.
Ciara O’Brien, meanwhile, has little good news as the season of good cheer approaches. Expect scamming to ramp up in advance of Christmas, she advises, and be particularly wary of potential scams coming from what you expect to be trusted sources.
She also tests a high tech sleep mask to see if it really can deliver that restorative overnight downtime.
Finally, business recovery specialist Ken Tyrrell from PwC joins Ciarán Hancock on Inside Business to get a fix on which types of businesses will struggle to survive into next year as retailers and the hospitality sector dominate the numbers over the first three-quarters of the year.
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