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Business Post
09-08-2025
- Business
- Business Post
What the Papers Say: RTÉ €725 million ‘distorting' bailout; Nvidia gets Trump reprieve; Jaguar boss defends ‘woke' rebrand
10 am - Good morning from the Business Post newsroom. Daniel McConnell here with your Saturday morning round-up of the main stories in Ireland and across the world. RTÉ €725m funding could 'distort' media market, Irish Independent publisher warns Minister Mediahuis, the multinational group that owns the Irish Independent and Sunday Independent newspapers, has warned that the Government's multiyear funding agreement for RTÉ could damage competition, the Irish Times reports. The media company says this is the case because the bailout would help fund enhancements to digital products such as the RTÉ Player and RTÉ News App to the detriment of commercial media companies. The Belgian-Dutch publisher also said it was concerned that the rise of artificial intelligence (AI) could compound the existing imbalance in the relationship between Big Tech and commercial media companies in the State. The issues were raised in a May 7th letter, signed by Mediahuis director of legal and public affairs, Fergus Foody, and sent to Minister for Culture, Arts and Communication Patrick O'Donovan. Failure to provide gas storage puts Ireland at risk of major power outages, EY says Power cuts like those seen in Spain and Portugal could be a danger for Ireland if the Government does not provide for storing natural gas, according to a leading industry figure, the Irish Times is reporting. This State has no natural gas storage, or a liquefied natural gas (LNG) terminal, despite relying on the fuel to generate close to half of all electricity. The Republic ultimately risks 'interruptions to supply' of this key energy source if it does not deal with this question sooner rather than later, Sean Casey, industrials and energy industry leader at EY said. Natural gas generates 40 per cent of Irish electricity, Casey noted, with the State importing 80 per cent of its natural gas via the UK. Its only home-grown source of the fuel, the Corrib field, is dwindling. HP Enterprise paid $25m dividend to Irish entity in June One of Hewlett-Packard Enterprise's main Irish units paid a dividend of €21.5 million ($25 million) in June to another of the computing giant's companies registered here after restructuring its balance sheet and cancelling part of its share capital in early 2025, the Irish Times reports. Accounts filed by Hewlett-Packard Galway (HPG), the entity behind the S&P 500-listed computing giant's European research and development (R&D) hub in Ballybrit, also reveal that operating profits at the unit surged by almost 700 per cent last year amid an increase in R&D tax credits. HPG, which employed some 374 people in the Republic last year, reported turnover of $68.9 million for the 12 months to the end of October last year, up by just under 4 per cent on the previous year. US licenses Nvidia to export chips to China after CEO meets Trump The US commerce department has started issuing licences to Nvidia to export H20 chips to China following weeks of inaction, after chief executive Jensen Huang met President Donald Trump at the White House, the Financial Times is reporting. A US official told the Financial Times the bureau of industry and security, the arm of the commerce department that oversees export controls, had begun to issue licences for the H20. Nvidia designed the chip for the Chinese market after the Biden administration imposed export controls on more advanced artificial intelligence chips. In April, the Trump administration appeared to take a tougher line by telling Nvidia it could not sell the H20 to China. Trump reversed course after Huang visited the White House and directly lobbied the president. But Nvidia was frustrated that three weeks after the decision, the administration had not started issuing the licences. Huang visited the White House on Wednesday and held another meeting with the president. Two days after the meeting, the commerce department starting issue the licences, according to people familiar with the decision. New Jaguar boss defends 'woke' rebrand after stinging criticism The new boss of Jaguar has defended the company's 'woke' rebrand, days after Donald Trump labelled it a 'total disaster', the Daily Telegraph reports. PB Balaji, who is due to take over as chief executive of Jaguar Land Rover (JLR) in November, claimed that the carmaker had seen a positive response to its overhaul. The move has seen it ditch its iconic jumping cat logo, embrace a hot pink aesthetic and debut a car design that has been compared to the Thunderbirds' limousine. He told reporters: 'We have put our plans together, the cars are being revealed, they're getting exciting response from the customers on the ground. Therefore, that's what the strategy is.' It comes days after Trump, the US president, claimed Jaguar had been left in 'absolute turmoil' by its rebrand.
Business Post
15-06-2025
- Business
- Business Post
Business Post launches the 2025 Leadership Awards
The Business Post has officially launched its second Leadership Awards, in association with Grant Thornton. Building on the success of last year's inaugural event, this year will again honour visionary executives, rising leaders, and changemakers who demonstrate innovation, integrity and influence in their fields. The awards will feature categories spanning corporate leadership, social impact, diversity and inclusion, and digital transformation. The awards ceremony, which will be held on November 6 at The Intercontinental Hotel in Dublin, is expected to draw top executives, entrepreneurs and thought leaders from across the country. 'Our Leadership Awards seek to recognise those leaders whose achievements have resonated with their staff, customers, clients and communities,' said Daniel McConnell, editor of the Business Post. 'They acknowledge the impact that effective leadership can have in terms of innovation, impact and growth.' 'This event is not just a recognition of individual success, but a testament to the power of effective leadership in driving innovation, fostering growth and creating lasting impact,' said Business Post chief executive Sarah Murphy. The launch comes at a time when leadership is being tested more than ever. From navigating post-pandemic shifts to championing sustainability and equity, today's leaders face challenges that require not just business acumen but empathy and adaptability. At last year's awards, a total of 14 awards were presented across a range of categories including CEO of the year (large business), CEO of the year (small to medium business), chief marketing officer of the year, ESG leader of the year, and chief financial officer of the year. Anne O'Leary, head of Meta Ireland, received the special achievement award for her outstanding contribution to business with more than 25 years of senior leadership roles in the IT sector. The judges noted that Anne has led with an attitude that has proven inspirational far beyond the organisations she has worked within.
Business Post
03-05-2025
- Business
- Business Post
What the Papers Say: CDB hit with legal bill; US and UK stocks recoup Trump losses; KPMG dumps P&O Ferries
10am - Good morning from the Business Post newsroom. Editor Daniel McConnell here with your essential round-up of the stories making the headlines across the media here in Ireland and across the globe. Bank of Ireland welcomes 'strong' performance as income rises by 8% Bank of Ireland saw its income rise by 8 per cent in the first three months of this year, with volume growth offsetting continued reductions in European Central Bank (ECB) interest rates, the Irish Examiner reports. In a trading update published on Friday, the bank said net lending remained stable at €82.4bn, with a "strong" group performance in line with expectations. Reiterating its full-year guidance, Bank of Ireland, headed by Myles O'Grady, posted annualised growth of 2 per cent in its core portfolios and welcomed a "continued strong performance" in its mortgage business. The lender's mortgage market share of new lending was 37 per cent in the first three months of this year, down from 40 per cent at the end of 2024. Dublin-based Chinese jet lessor CDB hit with huge legal bill Chinese-owned aircraft leasing giant CDB Aviation, which is headquartered in Dublin, is going to be stung with a multi-million euro legal bill after withdrawing a High Court action against insurers, the Irish Independent reports. The case is linked to jets that were seized in Russia following its 2022 invasion of Ukraine. Lloyds and Berkshire Hathaway are among a group of 12 global insurers that will benefit from a ruling by the High Court. Last year, a raft of legal actions by international aircraft lessors – almost all of them with headquarters in Ireland – began in Dublin. The cases were taken by lessors including Avolon, SMBC Aviation Capital, BOC Aviation and CDB. They sued a number of insurers – also including AIG, Chubb and Swiss Re – for allegedly declining to cover their losses either under 'all risks' or 'war risks' policies. US stocks wipe out steep losses that followed Trump's 'liberation day' US stocks rallied on Friday, wiping out the steep losses that followed Donald Trump's 'liberation day' tariff announcement a month ago, after labour market data exceeded expectations, the Financial Times reports. The 177,000 jobs added in April, according to the Bureau of Labor Statistics, surpassed the 135,000 predicted by economists polled by Bloomberg, although the number marked a fall from March. The S&P 500 jumped 1.5 per cent on Friday, bringing it above the closing level from April 2, when the US president unveiled his 'reciprocal tariffs'. Friday's advance was the ninth consecutive daily gain for the S&P 500, the longest winning streak since 2004, and ranking among its longest on record. Wall Street's benchmark share index had plunged as much as 15 per cent in several days of turbulent trading after Trump's announcement, triggering tumult across global financial markets. KPMG resigns as auditor to scandal-hit P&O Ferries KPMG has resigned as auditor to P&O Ferries, saying the factors that delayed the scandal-hit company's 2022 accounts had not been addressed and that it had completed very little work on the overdue 2023 accounts, the Financial Times is reporting. In a letter filed to Companies House this week, the Big Four accounting firm said it would not be able to complete the company's 2023 audit 'to the required standard within management's desired timetable'. It said this was partly because some of the 'drivers' behind the late filing of P&O's 2022 accounts remained. It did not outline the reasons behind the delay in signing off the 2022 accounts. Tourist hostel near Dublin's Camden Street granted planning An Bord Pleanála has overturned Dublin City Council's decision to refuse permission for a tourist hostel, set to be located on Liberty Lane near Camden Street, the Irish Times reports. The address was previously served an enforcement notice for its 'unauthorised use' as residential accommodation and deemed a fire hazard. Business owner Cathal Garrad has been given permission to retain an existing two-storey building at 10/11 Liberty Lane, along with the modification of the structure and change of use from office and retail to tourist hostel. FTSE surges to longest winning streak on record The FTSE 100 has capped off its longest winning streak on record as investors cheered the prospect of potential trade talks between the US and China, the Daily Telegraph reports. The UK's flagship stock index closed 1.17pc up on Friday, while the mid-cap FTSE 250 closed 0.52pc higher. This came after Beijing's commerce ministry said it is 'currently evaluating' an offer made by the US to start talks. The rise marked the FTSE's 15th consecutive daily increase - the longest run of positive days in a row in history for the British benchmark index, according to Bloomberg. It has risen 2.15pc in the last five days.
Business Post
30-04-2025
- Business
- Business Post
Live News: DAA demand Fingal withdraw ‘unlawful' actions over passenger cap; Pfizer's Irish staff worry about job losses
Live News Live News: DAA demand Fingal withdraw 'unlawful' actions over passenger cap; Pfizer's Irish staff worry about job losses Bite-sized servings of the latest in business, tech and current affairs Emma Hanrahan 07:09 Welcome to the Business Post's Live News section. We're here all day to keep you up to date on developments in business, tech and current affairs. 07.00 - Good morning Good morning from the Business Post. Emma Hanrahan here to keep you up to date on all the latest news as it happens. Leading the Business Post website is an article by Daniel McConnell about DAA demanding Fingal withdraw 'unlawful' actions over Dublin Airport passenger cap. Read more here. Elsewhere, the Irish Times leads with an article titled, 'Pfizer's Irish staff worry about more job losses as drugmaker announces another €1.5 billion in cuts'. Read more here.
BreakingNews.ie
27-04-2025
- Business
- BreakingNews.ie
Sinn Féin hold commanding lead as Fine Gael gains ground on Fianna Fáil, poll shows
A Business Post poll has revealed that Sinn Féin now holds a commanding lead, while Fine Gael has bounced back and gained ground on coalition partner Fianna Fáil. The Business Post Red C poll puts Fine Gael up two points to 19 per cent, with Fianna Fáil down two to 20 per cent. Advertisement However, they both lag behind Sinn Féin, which is up two on 24 per cent. The Social Democrats are unchanged on seven per cent, while Labour, the Green Party, and People Before Profit are all on three per cent. Business Post Editor Daniel McConnell said Mary Lou McDonald's party's tactics are working. "Sinn Féin now has a four point and five point lead over the two main government parties which is significant given that it has adopted a total opposition approach in the Dáil since the Dáil has been formed, rather than the more constructive approach it had taken in the last Dáil. "And it seems, for now, certainly you know five or six months in since the general election, it's working for them. So they hold a commanding lead."
