Latest news with #BusinessPost
Business Post
3 days ago
- Business
- Business Post
Exclusive interview: Maurice Regan on why Magnier ‘needs to get used to not getting his own way'
Business Post subscribers can read: • Regan's view on John Magnier's case for Barne Estate • How he built a multibillion-dollar construction giant while being laughed at by Irish developers • If he knows how much his fortune is worth
Business Post
3 days ago
- Business
- Business Post
What the Papers Say: O'Leary double windfall; Jamie Dimon says bond market will crack; Trump 50% steel tariff threat
10 am - Good morning from the Business Post newsroom. Editor Daniel McConnell here with your Saturday morning spin through the stories making the headlines in Ireland and across the world. Michael O'Leary unlocks double Ryanair windfall thanks to share price rise Ryanair's rising share price over the past month has delivered a double windfall to Michael O'Leary, the Irish Independent reports. The high-profile businessman has met a key condition to lock in a shares bonus worth around €128m after Ryanair stock closed above €21 for a 28th straight day on Thursday. As long as O'Leary is still in his job in July 2028, he now has a right to buy 10 million Ryanair shares at €11.12 each – less than half the current value. The rising share price also pays off in the short term for Mr O'Leary, lifting the value of the 44.1 million shares he already owns. That stake has increased in value by €128m since the start of May, as Ryanair shares rose from €20.43 each to €23.34 a share by Friday afternoon. Shares in Hvivo nosedive as it loses key contract and postpones another Shares in Irish clinical trials company Hvivo plummeted more than 47 per cent on Friday after the group told investors of the cancellation of a 'significant' contract and the postponement of another, the Irish Times reports. The company, which is listed in London, informed the market on Friday it had received notification of the cancellation of a 'significant human challenge trial', alongside the postponement of another, as well as the cancellation of a 'smaller study'. The share price closed down just over 46 per cent. Human challenge trials, where products are tested on humans in a controlled environment, make up a significant portion of the group's business. Jamie Dimon warns US bond market will 'crack' under pressure from rising debt Jamie Dimon has warned that the US bond market will 'crack' under the weight of the country's rising debt as he called on Donald Trump's administration to place America on a more sustainable trajectory. The JPMorgan Chase chief executive said on Friday that he had cautioned regulators: 'You are going to see a crack in the bond market.' He added: 'I'm telling you this is going to happen. And you are going to panic. I'm not going to panic. We'll be fine.' The warning from the head of the US's biggest bank about mounting risks for the US bond market — which sets borrowing costs for trillions of dollars in debt globally — underscores how Wall Street is growing increasingly uneasy about rising government debt levels. It comes as Congress is reviewing Trump's 'big, beautiful' budget bill, which if passed is broadly expected to markedly increase the federal deficit. Donald Trump says he will double steel and aluminium tariffs to 50% Donald Trump said he would double tariffs on steel and aluminium imports from 25 per cent to 50 per cent in a fresh escalation of his global trade war, the Financial Times reports. The US president unveiled the increased levies as he touted a $15bn partnership between Nippon Steel and US Steel at a rally in Pennsylvania, promising to erect a tariff 'fence' around domestic metals production. 'We're going to bring it from 25 per cent to 50 per cent, the tariffs on steel into the United States of America, which will even further secure the steel industry,' he told the crowd in West Mifflin. 'Nobody is going to get around that . . . At 25 per cent, they can sort of get over that fence. At 50 per cent they can no longer get over the fence.' The new levies will take effect from June 4, the president wrote in a Truth Social post following the rally. Trump has sought to revitalise America's industrial heartlands by aggressively targeting what he sees as dumping by foreign importers. In March, he slapped 25 per cent levies on steel and aluminium imports in one of the first broadsides of his global trade war. Musk exits Trump administration but claims Doge 'just the beginning' US president Donald Trump praised billionaire Elon Musk's efforts to cut federal spending during a joint press conference in the Oval Office on Friday, as the Tesla chief departs the administration after a chaotic tenure that saw the elimination of thousands of jobs and billions of dollars in contracts. Mr Musk, who headed the Department of Government Efficiency (Doge), disrupted numerous agencies across the federal bureaucracy but ultimately fell far short of the massive savings he had initially promised. A White House official said on Wednesday that Mr Musk would be leaving the administration. "Elon has worked tirelessly helping lead the most sweeping and consequential government reform programme in generations," Mr Trump said from behind the Resolute Desk, as Musk stood to his right, wearing a black Doge hat and a t-shirt that read "The Dogefather" in the style of the movie "The Godfather."
Business Post
5 days ago
- Business
- Business Post
John Cronin: As the state exits, it's high time we decided what we actually want from our banks
Business Post subscribers can read: • What Revolut, Bankinter and, potentially, Marcus could do to upend Irish banking • Which policies it's fair for policymakers to reconsider – and those it must avoid • The level of returns AIB and Bank of Ireland can expect to deliver over the coming years
Business Post
6 days ago
- Business
- Business Post
The Connected AI podcast: Kwayga's Mike McGrath on using AI to help supermarkets source products faster
Welcome to the latest episode of the Connected AI Podcast, a fortnightly podcast presented by Charlie Taylor, the Business Post's technology editor, and Elaine Burke, one of our leading contributors. The Connected AI Podcast, which is brought to you in association with Expleo, aims to cut through the hype and get to the heart of AI for business, with expert guests offering their advice, and the hosts giving their take on big developments in the space. In the latest episode we're talking to Mike McGrath, co-founder and CEO of Kwayga. Mike talks to us about how the startup's AI technology is helping supermarket buyers cut sourcing times by 40 per cent. In addition, Charlie and Elaine discuss the new national semiconductor strategy, Open AI's acquisition of Jonny Ive's IO, Anthropic's new AI models, AI-driven 'scientific slop', and imaginary books to read. The Connected AI Podcast. You won't want to miss it. Listen here or wherever you usually pick up your podcasts.
BreakingNews.ie
25-05-2025
- Business
- BreakingNews.ie
Sunday's front pages: What the papers say
Sunday's front pages focus on a range of stories from the Google chief executive saying he is committed to Ireland to fears over a trade war between the EU and US. The Business Post reports, Google boss Sundar Pichai said the tech giant is committed to Ireland but that the EU needs to slash regulation, as a deeply damaging trade war with the US looms. Our front page today. Pick up a copy in stores or subscribe at for these stories plus: 🗞️ Exclusive: Google chief commits to Ireland 🗞️ 40 over 40: Ireland's top in tech 🗞️ Developers call for radical tax cuts — Business Post (@businessposthq) May 25, 2025 The Sunday Independent , report there are 'four weeks to save Europe from an all-out trade war' with the US, after President Donald Trump sent shockwaves across Europe with a new threat of rising tariffs to 50pc, sources close to the negotiations have told the Sunday Independent Advertisement Morning, readers. Here's a look at today's front page of the Sunday Life. — Sunday Life (@TheSundayLife) May 25, 2025
