Reliance on FDI ‘exposes Ireland to risk of job loss’; Donnelly says Health Tapes in public interest
The top stories from business and politics in today’s Business Post
Heavy reliance on FDI could result in severe job losses, government warned
Ireland’s heavy dependence on foreign direct investment (FDI) has “particular repercussions” during an economic downturn and could result in job losses on a “big scale”, the government has been warned.
Martin Wermelinger, an OECD researcher and author of an IDA-commissioned report on FDI in Ireland, said Ireland was more exposed than other countries to worsening economic conditions due to a heavy reliance on overseas investment.
Institutional investment in Irish property to ‘fall sharply’ in 2023, report predicts
Institutional investment in the Irish property market is expected to fall sharply next year, with industry experts warning that the market is on the “cusp of a downturn”.
Institutional investors expect commercial real estate prices will drop next year as the market “reprices” property assets such as build-to-rent housing developments, offices, and industrial and retail units in light of rising interest rates and declining capital flows.
Health Tapes revelations were in the public interest – Donnelly
Stephen Donnelly has said that the Business Post’s Health Tapes investigation, which revealed financial dysfunction and distrust in the health system, was in the public interest.
However, the Minister for Health said that he was “very uncomfortable” with the manner in which the recordings were made secretly by a department official who had concerns about mismanagement of the health budget.
Altada to be sold as co-chief executives lose control of AI firm
Altada, the Cork-based AI firm, is set to be sold over the coming weeks and its co-chief executives Allan Beechinor and Niamh Parker are no longer in control of the firm, the Business Post understands.
The news comes after confirmation that Nicholas O’Dwyer of Grant Thornton was appointed as receiver to the company last week.
Departing investors to make €380m from sale of national broadband stake
Two US private equity firms are to earn more than €380 million from the sale of their joint 80 per cent stake in National Broadband Ireland.