Latest news with #JohnFitzGerald
Irish Times
06-08-2025
- Business
- Irish Times
One-acre site in Cork city centre on the market for €4.5m
An almost one-acre site in Cork city centre, suitable for residential or hotel development, has come to the market with a guide price of €4.5 million. The sale of the site on Patrick's Quay by private treaty is being handled by CBRE on behalf of a receiver who does not wish to be identified. CBRE said the site, which is situated 200m from Kent Train Station, offers 'significant potential' for a variety of uses, although this is subject to planning permission. It said the site benefits from 'excellent connectivity' and is within walking distance of key city amenities, including Patrick's Street, which is the city's main retail area. READ MORE Did the EU have its hands tied before striking a trade deal with the US? Listen | 23:32 This week host Ciarán Hancock is joined in studio by economist and Irish Times contributor John FitzGerald. He gives his reaction to the EU-US trade deal that will see a 15% tariff rate on European imports going into the US, a deal that he feels the EU had agreed to with 'two hands tied behind its back' on account of its continued reliance on the US when it comes to the war in ahead of Budget 2026 John outlines the need for the Government to stop pumping money into a booming economy and focus on making space for much-needed infrastructure. He feels we are inflating the economy when we should be cutting expenditure or raising taxes, neither of which would be politically by John Casey with JJ Vernon on sound. A feasibility study has been carried out, which found the site has potential for multiple development options, including residential, hotel or aparthotel, or a combination of hotel and residential uses. The surrounding area features a mix of commercial premises and low-rise residential developments. In recent years, the immediate vicinity has seen significant investment, with office developments delivered at Penrose Dock and Horgan's Quay. The property includes a collection of Victorian-style warehouse buildings, featuring brick and limestone facades with pitched slate roofs. The majority of the site was, until recently, in use as a car park. CBRE said it anticipates 'strong interest' from a range of developers and investors seeking a 'high-profile development opportunity' in one of Cork city's 'most desirable locations'. CBRE's Cliona Lenahan said: 'Patrick's Quay presents a rare opportunity for developers and investors to acquire a strategically-located site in the heart of Cork city. Given its scale and prime location, the site is well-suited to a wide variety of potential uses. 'We anticipate strong interest from both domestic and international parties, particularly those focused on delivering much-needed housing in Cork city.'
Irish Times
21-07-2025
- Business
- Irish Times
Ryanair results, M&A activity, and US economic madness
Airline Ryanair's profits more than doubled to €820 million in the three months to the end of June, figures published on Monday show. Ryanair Holdings said it carried 57.9 million passengers from the end of March to the end of June, the first quarter of its financial year, an increase of 4 per cent over the same period in 2024. Irish merger and acquisition activity continued to buck European and global trends in the first half of the year, according to a new report from William Fry, as deal volumes increased modestly in spite of global headwinds. Transaction values, meanwhile, declined by more than half, due to a dip in larger-cap deals. Speaking of deals, Tipperary-anchored Sys Group, has its sights firmly set on reaching the €1 billion assets under management milestone by the end of the year after adding two firms to its growing stable. READ MORE If there is no agreement between the EU and the US in trade talks, we will face a damaging period of trade wars, writes John FitzGerald in his latest column. Even if a deal is reached, it will represent a significantly worse outcome than the status quo. Sticking with tariffs and the EU angle, Germany is particularly exposed to threats from the White House, given the importance of the US as a trading partner, writes Derek Scally from Berlin. But many analysts concede Trump's trade war threats have merely exposed and exacerbated a long-term and home-made German economic decline. In our Your Money Q&A , a soon-to-be-retired reader asks if it's possible to have their UK national insurance contributions transferred and combined with their Irish PRSI record. 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. In Me & My Money , comedian Kyla Cobbler says she's a spender rather than a saver. 'I'm at a stage of my life where a double-stack air fryer is the party,' she tells Tony Clayton-Lea. Mortgage arrears might be at their lowest levels since 2009. But given the significant headwinds facing the Irish and global economy, now is not the time to be complacent about them, writes Núa Money co-founder Fergal O'Leary.
Irish Times
14-07-2025
- Business
- Irish Times
Davy seeks measure to support house building in budget
The Government must accelerate house building to meet the need for 93,000 homes every year into the 2030s, stockbroker Davy has urged in a pre-budget submission. It also said infrastructure gaps risk damaging the competitiveness of the Irish economy. Hugh Dooley has the details. Sticking with a similar theme, our columnist John FitzGerald lays out why he thinks Budget 2026 needs to take money out of the Irish economy. In our Your Money Q&A , a widow who is managing her husband's small share portfolio wonders if legacy stock in AIB and Bank of Ireland are worth holding on to. Dominic Coyle offers some guidance. 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. In Me & My Money , Keelan Higgs, owner/chef at the Michelin-starred restaurant Variety Jones in Dublin, recalls how he invested heavily in a restaurant a few years ago only for it to go on fire in its second week. 'That still stings,' he tells Tony Clayton-Lea. READ MORE Our FT columnist this week is Emma Jacobs who explores the world of 'truthiness' and why people love to buy into a good story, even if it is fake or heavily exaggerated. If you own an electric vehicle but don't have off-street parking, charging it up can be a real problem. In Düsseldorf, Germany they think they've found a solution – a charger that fits neatly into the kerb. Derek Scally reports on this neat invention . Private music college BIMM Music Institute Dublin recorded increased profit of more than €670,000 on revenue of €4.08 million last year, with the vast majority of its income coming from a partnership with Technological University Dublin. Hugh Dooley has the details on a college has has spawned bands such as Fontaines DC and The Murder Capital. Nvidia is the world's first $4 trillion company, leaving Apple – long the king of market milestones – in its wake. Stocktake explains why investors, for now at least, are willing to pay up for Nvidia's market speed over Apple's stability. More than 2,000 pubs have closed since 2005 , with 1,000 further establishments expected to close over the next decade as part of a 'pattern of pub closures', a new report has found. Hugh Dooley has the details. Hugh Dooley reports. Ireland can lead Europe in the next generation of inclusive capitalism, writes Cathal Carroll of venture capital firm VEF in our Opinion piece. 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
07-07-2025
- Business
- Irish Times
Irish house prices continue to rise and pharma's tariff options
Irish house prices continue rise despite the negative sentiment about Donald Trump's tariffs and what impact it might have on the Irish economy. owned by The Irish Times, said asking prices nationally rose by more than 7 per cent annually in the second quarter while the Dublin increase was above 5 per cent. Barry O'Halloran reports. Barry also has the details of the Competition and Consumer Protection Commission's letter to the motor industry, warning it intends to crack down on attempts to stop drivers from using independent garages for repairs. Dealers could face fines of up to €50 million for breaches of competition law. It has long been conventional wisdom that a boss who is prepared to reveal fear, uncertainty or some other form of uselessness is in luck, writes Pilita Clark. It's thought they will be more trusted and respected, especially by younger staff who are said to yearn for 'authenticity', and are therefore more valuable to an organisation. There is a strong logic for US pharma companies to continue making drugs in Ireland for non-US markets, writes our columnist John FitzGerald, as he explores the potential impact of Donald Trump's threatened tariffs on the sector here. READ MORE In our Q&A, a reader wonders if Prize Bonds are a good investment. Dominic Coyle offers a view. 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. In Me & My Money, author Eimear McBride explains how her 'pension plan is to die before I'm no longer able to earn'. She spoke with Tony Clayton-Lea. The Changing Times Brewery, which was founded by the families behind some of Dublin's best-known pubs , is expanding the number of premises serving its beers and moving outside the capital for the first time. Colin Gleeson has the details. In a wide-ranging interview, EasyJet founder Stelios Haji-Ioannou talks to Mark Hennessy about his new North-South awards aimed at fostering cross-Border entrepreneurship, his Irish family members, and his relationship with Ryanair's Michael O'Leary. Tesco plans to add 400 new jobs here as part of a €40 million investment to expand its operations with the opening of 10 new stores over the next 12 months. Barry O'Halloran has the details. In our Opinion piece, Bank of Ireland executive Susan Russell says the EU could crack down on fake digital ads by forcing online platforms to ensure they are dealing with a reputable entity, especially as they earn income from these scam ads. BP's woes persist in spite of talk of a takeover by Shell , which the company has denied. Stocktake offers a view.
Irish Times
23-06-2025
- Business
- Irish Times
House price inflation hits 10-year high and oil prices set to surge after Iran strikes
Irish annual house price inflation reached a ten-year high in the second quarter of the year, said on Monday, as the market remains 'starved' of new and second-hand homes. There are, however, some early signs of a 'tentative' improvement in the volume of second-hand homes coming up for sale in Dublin after a relatively fallow period, according to the property website. With oil prices set to surge on global markets following the US's entry into Israel's war with Iran, Irish petrol and diesel prices could be in line for steep increases in the coming weeks. Experts say the extent of the rally in crude this week will be determined by the Islamic Republic's response. In her FT column, Pilita Clark writes that one thing is clear in the aftermath of reports last week that a top JPMorgan banker will run the bank's EMEA operations from New York: executives have always been able to negotiate deals that give them more freedom than the average employee. And the average employee is still a big fan of the freedom remote working offers. Our columnist John FitzGerald has several ingenious tacks we can take to help cut our carbon emissions, including timber-framed housing and more taxes on petrol and diesel cars. READ MORE In our Opinion piece, academic John McCartney says property developers are bluffing when they say lower prices would undermine the viability of house building. In our Your Money Q&A , a reader's friend cut his wife out of his will even though they weren't legally separated or divorced and wonders what the legal position is in relation to the distribution of assets. 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. In Me & My Money , bakery and coffee shop owner Caryna Camerino says her business her retirement plan. 'I also intend to keep working until the very end,' she tells Tony Clayton-Lea. Spotify's founder Daniel Ek has bet big on Europe's war economy as defence stocks surge, writes Stocktake .
