Out Of Office

Out of Office: Busy day at Parliaments and developers’ levy love

The Business Post gets you up to date with the big stories of the day

Sarah McGuinness
April 10, 2024

Welcome to the Business Post’s Out of Office, your round-up of the day’s business, tech, markets, legal and politics news.

Simon Harris’ cabinet continued to make headlines today, as the new taoiseach enjoyed a game of musical chairs in the junior ministerial ranks. Newbies Alan Dillon, Emer Higgins and Colm Burke have been promoted from the backbenches to serve in the departments of housing, enterprise and health, while Jennifer Carrol MacNeill and Neale Richmond have been handed new briefs after missing out on seats in cabinet on Tuesday.

As documented via instagram, Simon Harris also made contact with a handful of world leaders, including British Prime Minister Rishi Sunak - with strengthening the economic ties with our closest neighbour the main topic of conversation.

Over to Brussels, where there was another seismic day in parliament. Our correspondent Sarah Collins was keeping a close eye on the EU’s legislative body - which has adopted an historic asylum and migration pact following almost a decade of negotiations.

In business news, Tesco and Dairygold reported annual results, with the retailers’ profits on the up and those of the dairy co-op down.

Ires Reit is asking shareholders to sign off on a revamped bonus scheme at its upcoming AGM after investors voted down the 2023 proposal.

Paddy McKillen jr and Matt Ryan have finalised the deal to sell The Dean Hotel Group in a deal that has valued the properties at close to €355 million.

Also in property, Killian Woods reports that developers have rushed to start work on housing sites in recent months to ensure their projects avail of a waiver on development levies, which are used by councils to cover the costs of roads and public infrastructure.

New analysis by Goodbody, the stockbroker, has shown a “surge” in the commencement of works on new homes in the first quarter of the year.

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