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.
17.00 - National Grid ‘very sorry’ for Heathrow disruption, says Irish electricity chief
The Irishwoman who helped lead the UK national grid response to last month's closure of Heathrow Airport, has apologised to British MPs for the disruption caused.
Alice Delahunty, head of electricity transmission at National Grid, joined the Heathrow and airline representatives at a special hearing of the House of Commons Transport Committee amid the ongoing fall-out from the unprecedented shutdown.
Dominic McGrath reports from London.
16.40 - Iseq closes in the green
The Iseq All Share closed up at 0.15 per cent at 10,370.72 since previous close as trepidation mounts the markets ahead of Trump’s tariff announcement later today.
The greatest fallers on the day were Origin Enterprises and Cairn Homes which fell 1.54 per cent and 1.84 per cent, respectively. Kerry Group and Glenveagh Properties also fell back, dropping 1.09 per cent and 1.29 per cent in the day’s trading.
Meanwhile, Kingspan recorded the greatest gains of the day in Dublin, rising by 2.49 per cent to €76.15, while Irish Continental Group and Dalata Hotel Group were also up by 0.75 per cent and 152 per cent, respectively.
16.20 - Independent contractors earn 1.6 times more than employee counterparts
Independent contractors and freelancers in the project economy are earning up to 1.6 times the wage of equivalent employees and maintain high job satisfaction levels, a new Trinity College Dublin report reveals.
Conducted by Trinity’s Business School and Contracting Plus, the 2025 Project Economy report also states that high skilled freelancer earnings declined by 7 per cent, with average annual earnings falling from €127,164 to €117,978 over the year.
16.00 - Inside Ireland’s quiet push to shield pharma from Trump’s tariffs
The Irish government is quietly building a coalition of European partners in a bid to strengthen Ireland’s hand in negotiations with the Trump administration after the US president announces a raft of new tariffs on Wednesday.
It remains unclear if Trump will move to impose country-specific tariffs but the Irish government is operating on the basis that Ireland will be covered by blanket tariffs on EU goods.
15.40 - Meta inks multi-year deal to become UFC’s first ‘fan technology partner’
Meta Platforms has entered a multi-year partnership with the Ultimate Fighting Championship (UFC), becoming its first-ever official fan technology partner. The deal comes after UFC chief executive Dana White joined the board of Meta in January.
The agreement will see Meta enhance the UFC fan experience with immersive technologies, while its text-based app Threads takes on the role of the league’s official social media partner.
Financial details of the deal were not disclosed.
15.20 - Elkstone group reports €30.3 million real estate work in progress as it records loss for 2024
Elkstone Capital Partners group had works in progress worth €30.3 million last year, up from just €1 million the year prior.
A consolidated profit and loss for the group showed it recorded a €3.55 million loss for its financial year to the end of March 2024 - following a group profit of €1.13 million the year before.
15.00 - Irish-founded chipmaker IceMos raises $22m to scale Belfast manufacturing
IceMos Technology, an Irish-founded semiconductor manufacturer, has raised $22 million in a Series E funding round that values the company at $110 million.
Founded and chaired by Samuel Anderson, who comes from Ballymena, IceMos is to use the new financing in part to increase strategic manufacturing at its manufacturing plant in Belfast.
The company, a supplier of sensing and power technologies, is headquartered in Arizona, where it has an advanced research innovation centre. In addition to its manufacturing operation in the north, IceMos also has a design centre in Tokyo.
14.45 - US markets update
US stock indexes opened sharply lower on Wednesday as investors awaited details of US President Donald Trump's tariffs to assess their impact on the global economy, corporate earnings and inflation.
The Dow Jones Industrial Average fell 0.82 per cent to 41,647.61, the S&P 500 fell 1 per cent to 5,577.02 and the Nasdaq Composite fell 1.38 to 17,208.66.
14.30 - IAG & Microsoft extend 2023 co-funded deal for Sustainable Aviation Fuel
International Airlines Group (IAG) and Microsoft have announced the extension of their 2023 co-funded purchase agreement for Sustainable Aviation Fuel (Saf) by five years.
This extension marks the largest and longest co-funded purchase agreement for scope 3 Sustainable Aviation Fuel (Saf) emissions reductions globally.
Scope 3 encompasses emissions that are not produced by the company itself, but by those that it is indirectly responsible for, up and down its value chain.
Under the new terms, Microsoft is set to co-fund an additional 39,000 tonnes of Saf to help reduce the lifecycle of carbon emissions by approximately 113,000 tonnes.
14.15 - Unity key at crucial time for global trade - Tánaiste
The Tánaiste has held further discussions with EU Trade Commissioner Maroš Šefčovič as part of an ongoing engagement in preparation for the expected announcement of US tariffs and the impact they will have on EU-US trade.
Simon Harris outlined the views of Ireland and detailed the engagement he has been having with his European counterparts in recent days.
Šefčovič updated the Tánaiste on the work ongoing at an EU level in its preparation to respond to any announcement of US tariffs.
The Tánaiste and the Commissioner stressed the importance of European unity at this crucial time when it comes to global trade.
14.00 - Business Post Group acquires Irish Management Institute from University College Cork
University College Cork (UCC) has reached an agreement in principle to sell the Irish Management Institute (IMI) to the Business Post Group, in a landmark deal that will see one of the country’s most prominent executive education bodies join a growing portfolio of business-focused brands.
While the financial terms of the transaction have not been disclosed and the deal is subject to a closing period, all IMI staff are to transfer to the Business Post Group under existing terms and conditions.
The current executive team, led by chief executive Shane O’Sullivan, are to remain in place.
UCC will retain ownership of the IMI’s Sandyford campus and has signed a new lease agreement with the institution, securing its continued presence on the site.
Read the full article by Daniel McConnell here.
13.45 - The Sunday Times announces three senior appointments
The Sunday Times has named Jennifer Bray as political editor, Elaine Prendeville as features editor and Philip Ryan as head of content.
Jennifer Bray joins The Sunday Times after six years as deputy political editor at The Irish Times.
In her new role, Bray will lead the political team in the delivery of in-depth, authoritative and unparalleled political coverage for readers.
In her new role, Prendeville will be responsible for curating compelling and diverse content and leading collaboration with the wider editorial team.
Prendeville has a host of experience in editorial leadership and joins The Sunday Times from the Business Post, where she was editorial director for their magazine brands.
Meanwhile, Philip Ryan will lead the news team, working with the editor and deputy editor to deliver distinctive, agenda-setting content across all platforms.
Ryan joins The Sunday Times after more than a decade at Mediahuis, where he primarily served as the political editor across the multiple print and online titles at the business.
13.30 - High Court extends pause on IAA’s ability to limit Dublin Airport slots
The High Court has extended a pause on the Irish Aviation Authority’s (IAA’s) ability to limit seasonal slots at Dublin Airport under the 32 million annual passenger cap.
In November, the High Court granted Aer Lingus, Ryanair and aviation lobby group Airlines for America a stay on the IAA’s decision to impose a 25.2 million seat cap for summer 2025, before referring part of a legal challenge against the cap to the Court of Justice of the European Union (CJEU).
Justice Barry O’Donnell granted the airlines interlocutory relief for subsequent seasons, pending a decision in the overall proceedings, citing the “serious irreparable harm” a winter 2025 cap would cause the airlines.
Read the full report by Eoin O’Hare here.
13.15 - One in three people from ethnic minorities believe background is a barrier to finding a job
Almost one in three people from ethnic minority groups believe their background is a barrier to finding a job in Ireland, a report published on Wednesday said.
The report by Bank of Ireland with Morgan McKinley explores the specific barriers ethnic minority groups face in accessing employment and progressing in the Irish labour market, with some data points and practical recommendations for employers.
It found that 29 per cent of respondents believed their ethnic background posed a barrier to accessing employment in Ireland. More than half of Irish Traveller respondents (59 per cent) and Black or Black Irish-African respondents (50 per cent) believe their ethnicity is a barrier to employment access in the country.
Read more on the Irish Examiner.
13.00 - Stellantis agrees 350 job cuts in southern Italy with unions
Carmaker Stellantis has signed a deal with trade unions for 350 voluntary exits from its Pomigliano and Pratola Serra plants in southern Italy, the Fiom union said on Wednesday.
A spokesman for Stellantis said the layoffs involved employees close to retirement age and were in line with overall plans presented in December to the Italian government to boost its production in the country.
Fiom, which did not itself sign the agreement, said in a statement that job reductions involved 300 workers at the Pomigliano assembly plant and 50 at the Pratola Serra engine facility, both in Campania, the region comprising Naples.
12.45 - Novo Holdings doubles income and returns in 2024
Novo Holdings, the controlling shareholder of obesity drugmaker Novo Nordisk, nearly doubled annual income and investment returns to a record €8 billion in 2024, it said today.
Fuelled by dividends from blockbuster weight-loss drug Wegovy and diabetes treatment Ozempic, Novo Holdings is a life sciences investment powerhouse that manages assets for the Novo Nordisk Foundation, one of the world's biggest philanthropic bodies.
"2024 was a very strong year for Novo Holdings, with our investment portfolio delivering its best ever performance," CEO Kasim Kutay said in a statement.
12.30 - What we know so far about Trump’s ‘Liberation Day’, the economic risks and Ireland’s response plans
At around 9pm Irish time tonight, the Trump administration will unveil broad tariffs, a day Donald Trump has dubbed "Liberation Day."
The US president has slammed the EU’s trade policies as “unfair” and “nasty,” while commerce secretary Howard Lutnick has called Ireland his “favourite tax scam”.
The looming tariffs, which are expected to range from 10 per cent to 25 per cent, have rattled European markets, prompting Brussels to weigh responses from boosting US imports in an effort to placate Trump, to deploying its new “anti-coercion instrument”.
Andrew Ross and Vish Gain look at what we know so far about the severity of the tariffs, and if Ireland can withstand the shock. Read more here.
12.15 - Deutsche Bank’s asset manager fined €25 million over greenwashing scandal
Deutsche Bank’s asset manager DWS has been fined €25mn by German prosecutors over a greenwashing scandal following long-running investigations by authorities in the US and Germany.
DWS, which is 80 per cent owned by the German lender, misled investors about its green credentials between 2020 and 2023, Frankfurt prosecutors said on Wednesday.
The asset manager used “aggressive” advertising that presented it as a leader in sustainable investments, despite “still undergoing a transformation process”, Frankfurt prosecutors said in a statement.
The Financial Times has the full story.
12.00 - Savills Ireland acquires Northern Irish firm Osborne King
Savills Ireland has expanded its Northern Irish business with the acquisition of Osborne King for an undisclosed fee.
Osborne King, which is based in Belfast, is focused on the commercial property sector, including commercial leasing, sales, property management and valuations. The firm, led by Dave McClure, has 36 staff on its books.
The deal has bolstered the position of Savills Ireland, led by managing director Mark Reynolds, as the largest advisor in the real estate business on the island.
The firm, which has more than 450 employees, already has an office in Belfast, which was established prior to this deal to buy Osborne King.
Savills Ireland also has offices in Cork and Dublin.
11.45 - March saw a rise in monthly unemployment rate -CSO
In March 2025, the seasonally adjusted unemployment rate was 4 per cent, which was up from a rate of 3.9 per cent in February 2025. On an annual basis, the unemployment rate was down from a rate of 4.3 per cent in March 2024.
Breaking down the results by gender, the monthly unemployment rate in March 2025 was 3.9 per cent for males, unchanged from the revised rate in February 2025, and down from the rate of 4.2 per cent recorded in March 2024.
The monthly unemployment rate in March 2025 was 4.1 per cent for females, up from a revised rate of 4.0 per cent in February 2025, and down from a rate of 4.3 per cent in March 2024.
In terms of age, the monthly unemployment rate for people aged 15-24 years was 11.6 per cent, unchanged from the revised rate in February 2025.
The monthly unemployment rate for people aged 25-74 years was 2.9 per cent, up from a rate of 2.8 per cent in February 2025.
11.30 - European retaliation to Trump tariffs will be ‘negative’ for its economies, warns Lagarde
Any European Union retaliation to Donald Trump’s tariffs will be “negative” for European economies, but worsening relations between Europe and the US present an opportunity for the bloc to become more independent, the European Central Bank (ECB) president told Irish radio on Wednesday morning.
Christine Lagarde, who is in Dublin to receive an award, was speaking on the Pat Kenny Show on Newstalk, hours before the US president is expected to unveil a sweeping package of tariffs that could upend global trade.
The French politician said that “predictability is in very short supply at the moment” concerning US trade and foreign policy. “I don’t think I have ever mentioned the word ‘uncertainty’ as many times as I have in this last few weeks.”
11.15 - SpaceX rocket cargo project puts Pacific seabirds in jeopardy
A project proposed by Elon Musk's SpaceX and the US Air Force to test hypersonic rocket cargo deliveries from a remote Pacific atoll could harm the many seabirds that nest at the wildlife refuge, according to biologists and experts who have spent more than a decade working to protect them.
It would not be the first time that SpaceX's activities have affected protected birds. A SpaceX launch of its Starship rocket in Boca Chica, Texas, last year involved a blast that destroyed nests and eggs of plover shorebirds, landing the billionaire Musk's company in legal trouble and leading him to remark jokingly that he would refrain from eating omelets for a week to compensate.
Read the full report on Reuters.
11.00 - Ryanair becomes first European airline to cross 200m annual passengers
Ryanair has become the first European airline to carry 200 million passengers in one year amid a rise in demand last month.
The Irish airline led by Michael O’Leary reported a 10 per cent year-on-year increase in passengers last month to 15 million. It carried 13.6 million passengers in March 2024.
A notice on the London Stock Exchange published Wednesday shows that Ryanair welcomed a total of 200.2 million passengers in the one-year period ended March 2025, a 9 per cent increase from 183.7 million from the year before.
10.45 - Personal injury claims decline despite high employment levels and rising traffic
Personal injury claims dropped significantly last year, reflecting a major fall since 2019 despite high employment levels and a return to pre-pandemic traffic volumes.
The latest award values report from the Injuries Resolution Board found that claims for accidents in workplaces, businesses and public spaces fell by 40 per cent, while motor claims decreased by 30 per cent in 2024.
It also reported a 5 per cent reduction in workplace injury claims last year, compared to 2023, while claims for accidents in businesses and public spaces remained unchanged from 2023.
Read more on the Irish Examiner.
10.30 - Irish Ferries to expand fleet with purchase of 2,000 passenger Finnish ship
Irish Ferries is set to add a new cruise ferry to its fleet in May after it confirmed that it has purchased a new ship from Finnish firm Tallink Hanasway Limited.
The STAR 1 ship, which has capacity for more than 2,000 passengers and 2,380 lane meters for vehicles, was previously with Irish Ferries on charter and will be renamed as the James Joyce.
It will bring the company’s total fleet number to nine and will operate on the Dublin to Holyhead route, which sails up to four times per day.
Read the full article by Megan O’Brien here.
10.15 - Irish dairy industry urges EU to avoid dragging sector into trade war
Irish dairy producers have strongly urged the EU to exclude US dairy goods from any tit-for-tat tariff measures amid escalating tensions between the bloc and its largest trading partner.
US president Donald Trump is expected to unveil tariffs of 20 per cent on a wide range of imports to the US from many of its trading partners on Wednesday.
In a submission to the European Commission last week, Dairy Industry Ireland (DII), the main lobby group for the sector within Ibec, said the source of the tensions is mainly centred on goods like aluminium and steel and that “unrelated” sectors like agri-food should not be dragged into the widening row.
10.00 - Kingspan starts constructing €280m manufacturing site in Ukraine
Kingspan, the insulation and materials giant, has been granted permission to start building a planned €280 million building materials manufacturing campus in Lviv, Ukraine.
First announced in June 2022, the campus will manufacture advanced insulation, energy-efficient building material products and district heating solutions to help war-torn Ukraine reconstruct some of its infrastructure and meet rapidly growing demand for energy-efficient buildings in Central and Eastern Europe.
Kingspan, which is led by Gene Murtagh and employs more than 27,000 people globally, expects more than 700 jobs to be created in the process.
09.45 - Marine Le Pen goes on the offensive after five-year ban
French far-right leader Marine Le Pen has gone on the offensive to try to save her political career, emulating populist leaders from the US to Romania by attacking what she calls the “politicisation” of judges and the “system” seeking to eliminate her.
Le Pen was sentenced on Monday to an immediate ban on standing for election for five years, which would make it impossible for her to run for president in 2027 unless the ban is overturned in an appeal before then.
But she came out swinging after the verdict that she and her Rassemblement National party embezzled €4.4 million of EU parliament funds earmarked for staff in Brussels who were in reality working for her party in France.
Read more on the Financial Times.
09.30 - Grafton Group agrees to acquire HSS Hire Ireland for €31.6m
Grafton Group has agreed to acquire HSS Hire Ireland, the tool and equipment hire specialist, to broaden the offering of its Chadwicks business in Ireland.
The deal is valued at €31.6 million on a cash and debt free basis and subject to approval from the Competition and Consumer Protection Commission (CCPC).
HSS Hire operates from four branches and four customer distribution centres in Ireland, offering a range of conventional hire products and specialist equipment with a focus on powered access.
Read the full article by Vish Gain.
09.15 - Most financial compliance professionals still unaware of EU rules governing AI, warns study
The number of financial services firms trialling or using artificial intelligence tools has fallen from 37 per cent last year to 26 per cent in 2025, a study of AI trends revealed, while only one in four compliance professionals have any knowledge of EU guidelines governing the technology.
The survey of compliance experts working predominantly in financial services organisations showed that 23 per cent of respondents were familiar with the EU legislation today, compared to only 7 per cent in 2024.
Overall, awareness of the rules is still low, with 67 per cent of compliance experts having either limited or no knowledge of the legislation.
Read the full article on the Irish Examiner.
09.00 - With hours to go before ‘Liberation Day’ announcement, Trump’s reciprocal tariffs still in limbo
US President Donald Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalising the size and scope of new levies he is slated to unveil on later today.
In meetings on Tuesday, Trump’s team continued to hash out their options ahead of a Rose Garden event now scheduled to begin as US markets close at 4pm (9pm Irish time) on Wednesday, people familiar with the ongoing discussions said.
08.45 - Greencore to buy rival Bakkavor in €1.44 billion deal
Irish food manufacturer Greencore has agreed to buy rival Bakkavor in a deal valued at 1.2 billion pounds (€1.44 billion), following two failed bids over concerns of undervaluation, the firm announced on Wednesday.
Greencore has offered to buy Bakkavor for 200 pence per share in a cash and stock deal, representing a 32.5 per cent premium to its share price on March 13.
Following completion of the transaction, Greencore shareholders would own approximately 56 per cent and Bakkavor shareholders would own approximately 44 per cent of the combined group.
08.30 - Ireland faces office supply ‘shock’ as downturn stalled construction, Gresham House says
Ireland is facing an office block supply “shock” over the next 12-18 months due to construction stalling as result of the recent sharp downturn in commercial property, according to Gresham House Ireland, a specialist investment management firm.
It comes as Dublin office lettings and prime rents picked up in late 2024, following a period of turmoil in the sector following a spike in interest rates and construction costs, a wobble in the technology sector and a change in working practices in the wake of the Covid-19 pandemic.
08.15 - Irish market update
The Iseq All Share was in the green on Wednesday morning, making marginal gains of 0.02 per cent (+2.32bps) since previous close to 10,357.14.
The main risers on the Irish market were AIB Group which grew 0.08 per cent to €6.13 per share and Ryanair which gained 0.55 per cent to €19.17 per share.
Meanwhile, the bottom performers on the market included Malin which fell 2.00 per cent to €9.80 per share and Glenveagh Properties which dropped 1.55 per cent to €1.52 per share in early trading.
08.00 - Hopes for Irish ETF tax changes as fund value expected to reach €3 trillion here by 2029
The Irish funds industry is hopeful government ministers will move to tweak the tax treatment of exchange-traded funds (ETFs).
It comes as a new report by global audit and advisory firm EY predicted ETFs in Ireland will reach €3 trillion by 2029, with assets forecast to rise 15 per cent annually until 2030.
Lisa Kealy, a former chair of the Irish Funds Council and the financial services markets leader at EY, told the Business Post the ETF industry here needs to continue to innovate if it is to remain the leading domicile in Europe.
Read the full article by Dominic McGrath here.
07.45 - White House to hold meeting on TikTok ahead of an April 5 deadline for the app to find a non-Chinese buyer
US President Donald Trump will consider on Wednesday a final proposal related to TikTok ahead of an April 5 deadline for the app to find a non-Chinese buyer or face a US ban, a White House official told Reuters.
There will be a meeting at the Oval Office involving Vice President JD Vance, Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard, said the official, confirming a CBS News report.
Private equity firm, Blackstone, is discussing joining ByteDance's existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in contributing fresh capital to bid for TikTok's US business, Reuters reported last week.
07.30 - Bank of America’s Dublin EU hub sees profits dip to $1.76bn in 2024
Bank of America’s European banking unit in Dublin reported a 4.2 per cent dip in pretax profit last year to $1.76 billion (€1.63 million) as it took an impairment charge against its loan book and staff costs rose.
Net interest income rose 13 per cent to $1.23 billion at Bank of America Europe in 2024, mainly as a surge in customer deposits led to it increasing the amount of excess cash it had stored, and earning interest, with central banks rose by a third to more than $23 billion.
Net fee and commission income also rose by a third, to $468 million, reflecting higher activity across its investment banking advisory business and organising corporate loans as part of a group of banks, or what is known as loan syndication.
However, the bank set aside $90 million of provisions to cover potential bad loan losses, more than reversing a $80 million release of such provisions in 2023.
07.15 - Asian markets update
Asian equity markets are pretty quiet ahead of today's reciprocal tariff announcement.
The announcements are due to take place at 4 pm Eastern Time (9 pm Irish Time), with the White House press secretary saying yesterday that the measures would be effective immediately.
The Hang Seng (+0.06 per cent), CSI (+0.15 per cent), Shanghai Composite (+0.23 per cent), Nikkei (+0.15 per cent) and the S&P/ASX 200 (+0.10 per cent) are all edging higher. Meanwhile, the Kospi (-0.62 per cent) is bucking the trend.
Early morning data showed that South Korea’s inflation unexpectedly rose to 2.1 per cent year-on-year in March (vs a 1.9 per cent market consensus) as against a 2.0 per cent increase the previous month, thus complicating the Bank of Korea’s rate cut cycle.
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.
Kick off your Liberation Day reading with an article by Daniel Murray on why Ireland may be more exposed to Trump’s trade war than we think. Read more here.
Elsewhere, a piece titled ‘Investors on edge as Donald Trump moves to apply new tariffs ‘immediately’ leads the Financial Times website.