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A roundup of Irish business and economic news covering the impact of the hospitality VAT cut, rising inflation, potential budget changes, foreign investment in Galway, Stripe creating 200 jobs, suspected insider trading, and artificial intelligence transforming recruitment.
The budget is almost upon us once again, so it is worth looking at how necessary, or otherwise, one of the most high-profile moves of recent years - the VAT cut on the hospitality sector - has been.
According to new figures published today by PwC, the number of hospitality companies going out of business fell by 23 per cent in the first nine months of the year, as the Government’s VAT cut for the sector further boosted the sector. Ian Curran reports. On the flip side, adding to the Government’s headaches ahead of the budget, inflation hit a three-year high last month. Eoin Burke-Kennedy reports.
Given the almost inevitable criticism that will come from Opposition parties, in Smart Money Cliff Taylor runs the rule over what the likes of Sinn Fein, Labour and the Social Democrats would do differently. A building in the middle of Galway’s main thoroughfare , which has been vacant for the past 30 years, has been taken over by US-based investors.
As Killian Woods writes, the property that previously housed the family-run Taaffes shop, which sold woollen goods until its closure in 1996, was put up for sale in 2024. Killian has been digging into the wider issue of who owns what in the heart of Galway , with some fascinating details in this week’s agenda. Stripe is to create 200 jobs at its Dublin headquarters , as the financial technology company continues to grow its operation here.
The new roles will include engineering jobs and go-to-market roles. Ciara O’Brien has the details. Gardaí arrested and questioned four men in recent days in the east of the State as part of an investigation into suspected insider trading offences. Joe Brennan reports.
How is AI impacting the recruiting business ? In the interview of the week, Hireovate founder Declan Fitzgerald tells Emmet Malone how his business is looking to streamline hiring for jobs from mass market to c-level. Octopus Energy is the UK’s largest household supplier, but could it expand its consumer operations to Ireland? Chief executive Greg Jackson tells Cormac McQuinn what he would like to do.
The rise of China has arguably been the story of this century, but how can Europe and the US handle the economic behemoth now in the east? Eoin Burke-Kennedy looks at the issue in his column. 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.
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