Higher energy costs drove euro zone inflation back above 3 per cent in August, paving the way for another European Central Bank rate hike next week, writes Eoin Burke-Kennedy.
Shoppers in search of a bargain as the cost of living rises will be cheered by IKEA’s decision to cut prices of many popular items by 15 to 25 per cent across Europe, including in Ireland, as the flat-pack furniture retailer seeks to counter the cost of living crisis by taking a hit to its profits.
But they are steering clear of Krispy Kreme, according to results just filed for last year that shows losses at the doughnut maker’s Irish business more than doubling to €3.07 million as sales have now fallen by 10 per cent over the past two years.
A businessman ousted for objecting to the decisions of his new bosses after the Dublin restaurant group he established was rescued from examinership has won €75,000 for unfair dismissal following a five-year legal battle. Stephen Bourke reports.
Sticking with the world of work, Jack White looks at a Matrix Recruitment report that says burnout and longer working lives are increasingly prompting experienced professionals in their 30s and 40s to switch careers.
Meanwhile, back at home, a new Cybersafekids report says measures to keep young children from accessing online platforms are failing to live up to expectations, with little impact on the number of underage children signing up for accounts. Ciara O’Brien has the details.
The number of Americans seeking Irish citizenship and looking to live here has surged in recent years but not everyone has Hollywood-grade resources. Joanne Hunt lays out some of the financial implications of making the jump and relocating here on a permanent basis.
In Commercial Property, Ronald Quinlan reports that Tommy Kelly-backed Minaun Capital is understood to be in talks to sell Gulliver’s Retail Park in Santry to German asset manager Union Investment for around €45 million two and a half years after it was acquired for about €29.5 million.
The Missionary Sisters of St Columban are seeking €4.5 million for their 50-acre international headquarters located beside Wicklow’s idyllic Magheramore beach, which has been their base since 1957.
And the owners of the fully-let Koula Rooms student accommodation in Monkstown, south Dublin have put it on the market at a guide price of €4.5 million.
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