
The Indo Daily: Ep2: Secret phones, wiped laptops and ‘dirty' money
Mr Magnier, the bloodstock billionaire, and two of his children are seeking to enforce a handshake deal agreed between Mr Magnier and Richard Thomson-Moore to buy Barne Estate, a 751-acre property in Tipperary that has been in the Thomson-Moore family for nearly 400 years.
Mr Magnier contends that the €15m deal agreed in his Coolmore home in Tipperary on August 22, 2023 with Mr Thomson-Moore is binding.
He argues that a later €22.5m deal Mr Thomson-Moore and his family trust agreed with Maurice Regan, the US-based Kerry building tycoon, is 'unlawful'.
Land, riches and reputations are all on the line, with recent evidence hearing details of secret phones, wiped computers, hidden assets and 'dirty' money.
Today on The Indo Daily, in the second of a two-part special, Fionnán Sheahan is joined by Mark Tighe, journalist with the Sunday Independent, to hear the blockbuster revelations in the case over the future of Barne estate.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Irish Times
an hour ago
- Irish Times
Trade deal fallout and how to start accumulating wealth
After months of fraught negotiations, the EU and US finally have a trade agreement, or at least the bones of one. While much is yet to be worked out, it is clear that it is being seen as a win for the US and loss for the EU. Jack Power and Harry McGee report on the deal, while Colin Gleeson and Paul Colgan report on the reaction to it. Jack also has details of how the deal was done. Ruchir Sharma meanwhile, looks at what the world got wrong about tariffs. Irish financier Paul Coulson has agreed to cede entire control of Ardagh Group, the glass bottles and drink cans giant he built up over the past 25 years, to a group of its bondholders in exchange for a share of a $300 million (€257 million) pay-off. Joe Brennan has the details, as well as how Coulson got to this point . In Your Money, Siobhan Maguire looks at how to accumulate wealth . Do you have to make many, sharp choices. Or do you need to be patient? READ MORE Dominic Coyle meanwhile answers questions on whether you can pay into an Irish pension while being based in the UK, and whether an inheritance from the US is liable for tax in Ireland. The hospitality group which operates Hogan's pub on Dublin's South Great George's Street has lodged plans for a new pub restaurant at the former Ballsbridge Post Office in Dublin 4. Gordon Deegan has the plans. A pay increase of more than €23,000 was approved for the new chief executive of the Housing Agency after negotiations between two government departments. As Ken Foxe reports, the Housing Agency said their preferred candidate, Martin Whelan, had been paid a higher salary than that in his previous role in the National Treasury Management Agency. Aquila European Renewables (AER), the UK-based green energy company that took on a secondary listing in Dublin two years ago, has hit a hurdle in its plans to wind down as the potential buyer of a large portion of its assets scaled back its bid. Joe has the story. Finally, Leah McMahon, financial planner with Limerick-based Castle Capital and Rose of Tralee contestant takes us through her finances . If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.


Irish Times
2 hours ago
- Irish Times
Trump's tariffs: What the world got wrong about US president's trade policy
At the beginning of the year, the world was in striking agreement on one point: if US president Donald Trump proceeded with tariffs, it would strengthen the dollar and trigger stagflation. Chief executives, investors and commentators all said the same. Economists estimated that every percentage point increase in the tariff rate would shave 0.1 per cent off US growth and add 0.1 per cent to inflation. But so far, the consequences have been far less disruptive than just about anyone expected. Some analysts still think that's because Trump's threats have been mostly posturing. But the effective US tariff rate has already risen from 2.5 per cent to 15 per cent. Tariff revenue is rolling in at an annual rate above $300 billion (€249 billion), roughly four times the pace this time last year. Many economists had assumed that, by lowering imports, tariffs would strengthen the dollar almost automatically, as an accounting identity. Instead, it suffered its worst fall over the first half of a year since the early 1970s. READ MORE [ EU-US tariffs deal at 15% preferable to 'ruinous' trade war, says Taoiseach Opens in new window ] This unexpected turn is now attributed to the fact that the dollar started the year historically overvalued. Many foreigners were heavily exposed to dollar assets. Of late, they have been hedging those risks and investing more outside the US. Many countries are increasingly attractive places to park money, in part because tariff threats inspired them to push economic reform and cut trade deals with non-US partners. The bigger mystery is why the stagflationary impact of tariffs has yet to materialise in the aggregate data. Is the US really enjoying a free lunch, taking in $300 billion a year in tariff revenues with none of the expected heartburn? By some estimates, foreign exporters are indeed absorbing 20 per cent of the costs – a much larger share than they did in response to tariffs in Trump's first term. The remaining 80 per cent, however, is still getting paid in roughly equal shares by US corporations and consumers. The likely answer is that the negative economic effect of tariffs is being countered by other forces, including the mania for artificial intelligence (AI) and more government stimulus. Since January, estimates of what the big tech companies will spend this year on building out AI infrastructure have risen $60 billion to $350 billion. Smaller businesses are scrambling to catch the wave too, further boosting growth. And all this excitement is neutralising the fear that trade policy uncertainty would dampen animal spirits and freeze new capex. How will the updated National Development Plan shape Ireland in years to come? Listen | 35:59 AI-driven bullishness is also lifting growth by keeping financial conditions loose, even with higher interest rates. According to a new index from the Federal Reserve, those conditions would be neutral, not loose, were it not for the stock market, which has continued rising this year due largely to AI stocks. Meanwhile, the promise of tax relief makes it easier for US corporations to absorb a larger than expected share of the tariff costs, rather than pass it all on to consumers. Trump's 'big, beautiful Bill' is expected to save US businesses about $100 billion this year and more than that in 2026, mainly in tax breaks. That is not to say tariffs have no negative economic effect. The costs are starting to show up in higher prices for big household appliances, sporting goods and toys. Yet the overall inflation rate has been held in check by falling rents and prices for other kinds of goods, including used cars and energy. And those prices are declining for reasons unrelated to tariffs; used-car prices are still retreating from highs created by supply disruptions during the pandemic. So economists were not entirely wrong about the tariffs. And stagflation may yet materialise, particularly if the average effective rate continues to climb. But so far, even a much higher rate has not been enough to overwhelm the larger forces sustaining growth and containing inflation. In a way, what we are seeing is a replay of 2023. That year, too, many expected a big shock (then mainly from Fed rate rises) to dramatically slow US growth, only to find the impact offset by the AI spending boom and the US government's seemingly bottomless capacity to keep doling out fiscal support. What the world got wrong, then and now, starts with its mental frameworks. The timeworn mistake of employing simple models, in which a headline-grabbing input A leads in a straight line to outcome B, has been greatly magnified by the global obsession with Trump. He is the only input anyone cares to analyse any more. But complex economies are rarely shaped by just one factor, not even a shock as big as Trump's tariffs. – Copyright The Financial Times Limited 2025


Irish Times
2 hours ago
- Irish Times
After Donald Trump's presidential win, green investing gets personal
Donald Trump's return to the White House dented green investment, but for a contrarian minority, it had the opposite effect. A Swiss Finance Institute study finds US green allocations dipped after the 2024 election, as some investors viewed climate-themed funds as riskier and less profitable. However, those who strongly disapproved of Trump's climate stance increased their exposure, treating them less as a financial bet, than a moral statement. For them, going green became less about alpha, more about impact. READ MORE One respondent bluntly said: 'Trump's win will have a serious effect on the environment, and I'd want to make that choice that has even a tiny impact.' The less they believed others cared, the more compelled they felt to act. ETF flows suggest this wasn't just talk. Investors became less sensitive to performance and more motivated by values, seeking meaning or 'warm glow' over financial gain – an investment choice that felt 'emotionally rewarding', even if not financially so. There are two problems, however. First, green investing can only partly offset weak climate policy, the researchers caution. Second, it's a shaky investment rationale. Panmure Liberum strategist Joachim Klement supports ESG investing, but warns politics and investing don't mix. 'Investing in green funds as a form of virtue signalling or to spite Trump', he says, 'is about the worst reason to invest.'