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 - IBRC wind down draws nearer as €250m transferred to exchequer
A further €250 million was added to the exchequer this month due to the liquidation of the Irish Bank Resolution Corporation (IBRC), bringing the total loan portfolio down to just over €3 billion.
The special liquidation of the IBRC commenced over 10 years ago, involving a loan portfolio with a par value of €21 billion, consisting of over 15,000 borrower groups across 22 worldwide jurisdictions.
16.45 - Macron mulls calling snap election
French President Emmanuel Macron is mulling the possibility of calling snap elections as soon as the autumn as he sees a boost in populatrity.
No decision is said to have been made, after Macron consulted his inner circle about calling such a ballot.
The next legislative elections are not due until 2029.
16.30 - Iseq closes in the green
The Iseq All Share Index closed in the green today, up 0.47 per cent since previous close, at 10,014.30
Bank of Ireland saw the biggest bounce in shares, with a 1.23 per cent rise to €10.295, while Ires (up 1.18 per cent) and AIB (up 1.09 per cent) also saw gains.
Meanwhile, Datalex experienced the largest slump of shares, down 5.88 per cent to €0.32, while Mincon Group (down 2.5 per cent) and Glanbia (down 2.23 per cent) also saw declines in shares.
16.15 - IMF slashes UK growth to 1.1%
UK growth forecasts have been slashed to 1.1 per cent by the International Monetary Fund, as the global economy reels from Donald Trump's tariff policies.
The UK has been forecast to suffer a significantly steeper drop than other major European countries.
Dominic McGrath has been looking at the numbers.
16.00 - IAG named as top pick to buy shares
Bank of America has named IAG its top pick among European carriers, citing the Aer Lingus owner’s strong balance sheet, superior margins, and attractive valuation, even as the sector faces investor jitters ahead of the crucial summer travel season.
In a report published on Tuesday, Bank of America said IAG, which is led by Luis Gallego, shares appear "unjustifiably" undervalued after underperforming other network carriers year-to-date.
15.45 - Bill Belichick to coach University of North Carolina in Dublin football game
Tens of thousands of American football fans are set to travel to Dublin in 2026 to witness an Aer Lingus College Football Classic match between Texas Christian University (TCU) and the University of North Carolina (UNC).
The game, where TCU will serve as the home team in Dublin, will take place on August 29, 2026, at the Aviva Stadium.
The news comes as UNC recently appointed Bill Belichick, widely regarded as one of the greatest coaches in American football, as its head football coach.
15.30 - Protesters enter RTÉ building in Dublin
A group of pro-Palestine protesters entered the RTÉ buildings in Dublin earlier today, as well as the BBC buildings in Belfast.
Shortly after midday, the group of protesters entered the RTÉ reception, before Gardaí was called to the scene.
Gardaí said in a statement that no offences had taken place, and that the gathering “has now dispersed”.
The Irish Independent has more.
15.15 - Irish economy to grow over 2% this year - IMF
The Irish economy is expected to grow by just over 2 per cent this year and next, according to the International Monetary Fund (IMF), despite a raging US tariff war.
Although it is around half the rate of growth predicted by recent domestic forecasters, including the Central Bank, it marks a slight upgrade from the IMF's previous outlook for Ireland and sees the country escape the sharp downgrades in the US, UK and eurozone.
15.00 - Boeing to sell parts of aviation software unit to Thoma Bravo for $10.5 billion
Boeing has agreed to sell parts of its digital aviation unit to private equity group Thoma Bravo for $10.55 billion as the US group seeks to bolster its financial position, the Financial Times has reported.
Virginia-based Boeing said on Tuesday it had agreed to sell its digital aviation solutions business, including its Jeppesen assets, which provide navigation products and software, to Thoma Bravo in an all-cash transaction.
The planned disposal is part of an effort by Kelly Ortberg, who took over as Boeing’s chief executive in August, to streamline the aerospace and defence group, which has struggled to recover after a series of safety scandals in recent years.
14.45 - Bluesky to roll out verification for organisations and users
Social media platform Bluesky said it is implementing a new programme to verify users, bringing in its version of the check mark favoured by X, Instagram and Facebook.
Bluesky said it would proactively verify authentic any notable accounts, adding the check next to their names.
It is also selecting a number of independent organisations that can verify accounts directly through a “Trusted Verifiers” feature. Accounts with that power will have a scalloped check mark next to their user name.
The new programme is in addition to the previous method, which allowed individuals and organisations to set their web domain name as their username. More than 270,000 accounts have availed of that feature.
14.30 - Wall Street markets open lower before jumping rebounding
Wall street indices opened the day lower, all down more than 2.4 per cent, before rebounding in early trading.
The S&P 500 was down 2.4 per cent at the open, while the tech-heavy Nasdaq was 2.55 per cent lower as losses among the Mag 7 dragged the indices.
However, the indices made gains just after the markets opened. The S&P 500 recovered and was up 1.2 per cent in early trading, while the Nasdaq was slower to rebound, it traded 1.2 per cent lower.
At the open, Tesla was down more than 5.7 per cent, although it’s expected to climb back into the green during the day’s trade, ahead of its financial results which are due in the evening.
Elsewhere at the open, the Dow Jones was down 2.5 per cent as shares in United Health Group tumbled more than 6 per cent and losses at Proctor & Gamble and Costco dropped 3.7 per cent.
It recovered slightly in early trading and was just 1.5 per cent lower at 9:35am New York time.
14.15 - Hobbycraft to axe stores and jobs in radical restructuring
Modella Capital, a private investment firm which specialises in taking over troubled retailers, is preparing to launch a company voluntary arrangement (CVA) at Hobbycraft as soon as Wednesday.
People close to the proposals said that nine of its shops would be closed, with the loss of roughly 100 jobs, and that 18 more would remain open only if negotiations with landlords over rent cuts concluded successfully.
A further 97 stores will remain unaffected by the CVA, the people added, protecting 1,800 jobs.
14.00 - No recovery in sight for struggling cocoa market, says Lindt chief
Cocoa prices will remain elevated despite some potential declines amid higher input and sustainability costs, according to confectionary company Lindt & Sprüngli.
Adalbert Lechner, chief executive of the company told CNBC that “cocoa prices will come down” but he doesn’t believe they “will ever come down to the levels where they have been before”.
Factors including increased input costs including sustainability programs and fair trade initiatives mean the “cocoa price has to be higher than it used to be in the past time,” he said.
Lechner’s remarks follow a surge in cocoa prices to record highs in 2024, driven by poor weather, disease, and pest outbreaks in West Africa that caused a supply deficit.
13.45 - LinkedIn begins search for a new Irish country manager
LinkedIn has begun a process to appoint a new country manager for Ireland with Sue Duke set to commence another role with the social media platform in July.
Duke is to become LinkedIn’s new managing director for Europe, the Middle East and Africa (EMEA) and Latin America (LATAM).
Her promotion comes two years after she was appointed as Irish country manager, replacing Sharon McCooey.
Charlie Taylor has more.
13.30 - Government balance trebled to €23.2bn in 2024 amid rising corporate tax and falling debt
The government balance shot up from €7.9 billion in 2023 to €23.2 billion last year as government debt fell by more than €2 billion, according to latest figured published by the Central Statistics Office (CSO).
This balance – which is the difference between the government’s expenditure and revenue each year – accounted for 4.3 per cent of Ireland’s gross domestic product (GDP) last year, up from only 1.5 per cent in 2023.
The government spent a total of €125.1 billion last year, up from €115.9 billion in 2023. In the same period, its revenue increased from €123.8 billion in 2023 to €148.3 billion last year.
13.15 - National debt now stands at €40,550 for every man, woman and child
The State’s national debt stood at €218.2 billion at the end of last year, equating to €40,550 for every man, woman and child in the State, according to the Central Statistics Office (CSO).
While this is high in per-capita terms, it fell as a proportion of GDP (gross domestic product), the traditional measure of national income.
The CSO said gross general government debt fell by €2.5 billion to €218.2 billion at the end of 2024 while noting this was equivalent to 40.9 per cent of GDP, compared with 43.3 per cent of GDP a year earlier.
13.00 - FAI announces departure of chief football officer Marc Canham
The Football Association of Ireland (FAI) has confirmed that Marc Canham has taken the decision to step away from his role as chief football officer.
Canham has spent almost three years in the role at the FAI and has frequently been a divisive figure in that time, struggling to get the disparate strands of the game in this country to align.
The FAI said that Canham has “played a pivotal role in helping to shape the future of Irish football” and confirmed that the recruitment process for a replacement “will commence immediately”.
12.45 - Trump looking at cutting US drug prices to international levels
Drugmakers have been warned that the Trump Administration is considering linking US medicine prices to lower amounts paid by other developed countries, according to two company sources who called the option the pharmaceutical industry's top concern.
Reuters has reported that both of the sources, who were not authorised to speak publicly, said they expected the policy to come from the agency that oversees Medicare and Medicaid health programs.
12.30 - Martina Lawless appointed director of Economic and Social Reseach Institute
Professor Martina Lawless has been appointed director of the Economic and Social Reseach Institute (ESRI) and is set to take up the role in June.
Currently working as a research professor with the ESRI, Lawless will succeed Professor Alan Barrett, who is approaching the end of his ten year term in the position.
A former research economist in the Central Bank of Ireland, Lawless holds a doctorate in economics from Trinity College and is a member of the National Statistics Board.
She said she’s “proud to have been appointed” head of an institute that “plays a central role in providing independent and rigorous evidence to inform policy decisions”.
12.15 - 10-year treasury yield climbs on a lack of progress on global trade negotiations
The yield on the 10-year U.S. Treasury climbed on Tuesday as investor sentiment remained under pressure from stalled developments in global trade.
The benchmark 10-year treasury yield was two basis points higher at 4.4263 per cent.
Meanwhile, the 2-year treasury yield was more than five basis points higher at 3.8064 per cent as of 06:56 am New York time.
12.00 - ECB survey sees inflation stabilising at 2 per cent
Euro zone inflation could be a touch higher this year than earlier thought but will then stabilise at the European Central Bank's 2 per cent target, the bank's Survey of Professional Forecasters showed today.
The ECB cut interest rates for the seventh time in a year last Thursday, arguing that disinflation was well on track and risks were on the rise that price growth comes even lower than earlier thought.
The ECB's survey, often a key input into policy deliberations, showed 2025 inflation averaging 2.2 per cent, above the 2.1 per cent predicted three months ago while the 2026 number was lifted to 2.0 per cent from 1.9 per cent.
11.45 - GE Aerospace posts higher first quarter profit
GE Aerospace has posted higher first quarter profits as a persistent shortage of new aircraft pushes airlines to keep older jets in service, driving strong demand for high-margin after market parts and services.
Reuters reports that the jet engine maker kept its 2025 profit and revenue forecasts unchanged but said they now assume the impact of announced tariffs.
Ongoing production setbacks at Boeing and Airbus have extended delivery timelines for new aircraft, prompting airlines to rely more heavily on ageing fleets that require frequent maintenance.
The dynamic has proving beneficial for companies like GE Aerospace, which often sells engines at reduced upfront prices and makes up the difference through long-term, high-margin deals for replacement parts and maintenance services throughout the product's lifecycle.
11.30 - Self-catering operators seek clarity on new letting rules
The representative body for short-term letting, the Irish Self-Catering Federation (ISCG), are “inundated” with calls from members looking for clarity on what exactly the new rules for short-term letting to be introduced from next year mean for them.
Máire Ní Mhurchú, chief executive of ISCG said short-term letting answers the complexity of demands, and while the organisation welcomes a register of all short-term lets, it’s clear what it will mean for members around the country.
The ISCF said the government was in danger of shutting down a vital industry, and an industry that is particularly important in tourist areas and for family income.
11.15 - FTC sues Uber over ‘deceptive’ subscription service
The US Federal Trade Commission has sued ride-hailing app Uber, saying it made “false or misleading” claims about its subscription service, in the latest sign that Donald Trump’s administration is embracing an aggressive stance against Big Tech groups.
The regulator alleged the company’s Uber One service failed to deliver promised savings and proved difficult to “cancel anytime” as promised, according to a complaint filed in a California court on Monday.
Get the full story on the Financial Times.
11.00 - DCC share price drops 2.85 per cent following sale of healthcare arm
On Tuesday morning, DCC shares fell by 2.85 per cent to £48.38 per share after the firm announced that it has entered into a definitive agreement for the sale of its healthcare division to HealthCo Investment.
The proposed transaction puts DCC Healthcare at a total enterprise value of £1,050 million (€1,200 million) on a cash-free, debt-free basis.
The deal is subject to regulatory approvals and is expected to be completed in the third quarter of the year.
However, analysts at Goodbody said the price of the deal is at the “low end” but that completion of the deal is key.
10.45 - Elizabeth Sheehan new country executive of 30% Club Ireland
The 30% Club, a global campaign focussed on achieving better gender balance at leadership level, has appointed Elizabeth Sheehan as its new country executive in Ireland.
Sheehan, who previously held roles in Irish Distillers, Suntory, C&C Ireland, PepsiCo and Mars, and has strong experience as a non-executive director, business consultant and leadership coach.
Sheehan said she is “honoured” to be part of the club’s next chapter and work to drive “diverse and representative leadership across corporate Ireland and beyond”.
In addition to her role as country executive for the 30% Club, Sheehan also holds board positions at Bus Éireann and the Advertising Standards Authority for Ireland.
10.30 - Delays will continue to hinder rollout of auto-enrolment pension scheme, experts caution
Many financial advisers expect more delays to the planned rollout of a state-backed auto-enrolment pension system.
The results of a survey of pension advisers comes after Jack Chambers, the public expenditure minister said the long-awaited introduction of the auto-enrolment pension scheme would be postponed again.
The new mandatory pension was due to be put in place by September, but its rollout is not likely until at least next January.
A survey of pension advisers, undertaken by leading pension trustees Independent Trustee Company (ITC), found that three in 10 expected the rollout to be delayed again.
They expect it to be postponed by at least another two years.
10.15 - Novo Nordisk shares fall 8 per cent after Eli Lilly obesity drug trial results
Healthcare stocks were among the biggest losers on the Stoxx 600 on Tuesday, with the regional Stoxx Healthcare index down 1.5 per cent by 9.00am Irish time.
Novo Nordisk and Zealand Pharma, both down by around 8.4 per cent, tumbled to the bottom of the Stoxx 600 index after US rival Eli Lilly posted positive results from a late-stage trial of its oral weight loss drug orforglipron.
10.00 - Irish Ferries introduces first route using hydrotreated vegetable oil fuel
Irish Ferries has transitioned to its first route t0 use hydrotreated vegetable oil (HVO), a renewable biofuel.
The ferry operator has announced its Dublin Swift service on the Dublin to Holyhead route will be its first HVO-powered route, with the fuel supplied by Circle K.
“We are thrilled to be leading the way in the UK and Ireland ferry sector with the adoption of HVO for our Dublin Swift service,” said Andrew Sheen, managing director of Irish Ferries.
09.45 - US sets tariffs of up to 3,521 per cent on South East Asia solar panels
The US Commerce Department has announced plans to impose tariffs of up to 3,521 per cent on imports of solar panels from four South East Asian countries.
It comes after an investigation that began a year ago when several major solar equipment producers asked the administration of then-President Joe Biden to protect their US operations.
The proposed levies - targeting companies in Cambodia, Thailand, Malaysia and Vietnam - are in response to allegations of subsidies from China and the dumping of unfairly cheap products in the US market.
09.30 - UAE to become first country to write laws using AI
The United Arab Emirates will be the first country to use artificial intelligence (AI) to write and review laws.
As part of a wider shift to digitise the Gulf country, it has announced federal and local laws will be written by computers, along with judicial rulings, executive procedures and public services.
Last week, a new cabinet unit named the Regulatory Intelligence Office was approved to oversee the move, which will streamline the legislative process, the UAE’s vice-president said.
09.15 - Irish aviation firm warns airline passengers will face higher fares over tariffs
Irish aviation services firm Avia Solutions Group is pencilling in higher maintenance expenses from potential tariffs that would affect its aircraft charter business, with those costs eventually being passed on to airline passengers.
The firm specialises in short-term leasing of aircraft and crew to airlines, which typically use Avia to boost capacity during busy seasons.
The Irish Examiner reports that it is carrying out a “stress test” by calculating 12 per cent higher costs on maintenance services across its fleet, chairman Gediminas Ziemelis said in an interview.
Avia is exploring ways to access more spare parts from Europe if tariffs drive up the cost of imported products like engine components, he said.
09.00 - DCC to sell its healthcare division for €1.2 million
DCC, an international sales, marketing and support services group, announced it has entered into a definitive agreement for the sale of its healthcare division to HealthCo Investment.
HealthCo is an independently managed investment subsidiary of funds advised by Investindustrial Advisors.
The proposed transaction puts DCC Healthcare at a total enterprise value of £1,050 million (€1,200 million) on a cash-free, debt-free basis.
08.45 - Roamr raises additional investment from tech heavyweights to slash travel costs
Roamr, a startup that helps companies reduce corporate travel costs by paying employees to host their work colleagues as an alternative to staying in hotels, has secured an extra $2.25 million in investment from a ‘who’s who’ of Irish investors.
The company’s backers include former senior executives from Atlassian, Meta, Shopify, Ramp and Airbnb, along with the founders of Workvivo and Poppulo.
Roamr secured the new funding just four months after closing an oversubscribed $570,000 pre-seed round, and did so at the behest of investors who wanted to up their stake in the company.
Charlie Taylor has the full story here.
08.30 - Gold hits $3,500 for first time as Donald Trump’s attack on Jay Powell rattles markets
Gold hit a record $3,500 a troy ounce for the first time and the dollar fell on Tuesday, as Donald Trump’s sustained attack on US Federal Reserve chair Jay Powell added to fears over the prospects for the world’s largest economy.
In a rush to haven assets, gold climbed 2.2 per cent to $3,500.10, cementing its position as one of the biggest winners from Trump’s return to the White House.
The Japanese yen strengthened above ¥140 per dollar for the first time since September as the dollar index languished near a three-year low.
08.15 - Roche commits to $50 billion US investment
Roche Holding will invest $50 billion in pharmaceuticals and diagnostics in the US in the next five years, as the Swiss drugmaker joins a wave of companies trumpeting American investment in the wake of President Donald Trump’s protectionist agenda.
The planned investment includes expanded and upgraded manufacturing and distribution capabilities in Kentucky, Indiana, New Jersey, Oregon and California, the healthcare firm said in a statement.
It will also build a gene therapy manufacturing facility in Pennsylvania, a continuous-glucose monitoring plant in Indiana and a research and development centre in Massachusetts, it said.
08.00 - DHL to suspend global shipments of over $800 to US consumers
DHL Express, a division of Germany's Deutsche Post, said it would suspend global business-to-consumer shipments worth over $800 (€695) to individuals in the US from April 21, as US customs regulatory changes have lengthened clearance.
DHL blamed the halt on new US customs rules which require formal entry processing on all shipments worth over $800. The minimum had been $2,500 until a change on April 5.
07.45 - Harvard sues Trump administration over funding freeze
Harvard University sued the Trump administration on Monday to block its “unlawful” efforts to freeze more than $3 billion in federal funding and increase government oversight of the venerable institution.
The Financial Times has reported that in a statement, Harvard’s president Alan Garber warned the government’s “sweeping and intrusive demands” would have “stark real-life consequences for patients, students, faculty, staff, researchers, and the standing of American higher education in the world”.
It comes after the US government accused Harvard of failing to combat antisemitism on campus.
07.30 - Asian markets update
Key indices across Asia were mixed when the bell rang, with Japan’s Nikkei down 1.2 per cent to 34,314.64.
Elsewhere however, China’s Shanghai Composite rose 0.5 per cent and Hong Kong’s Hang Seng closed 0.8 per cent higher, buoyed by gains at tech-firm Xiaomi, up 6.1 per cent and Zijin Mining Company, which rose 5 per cent.
In Korea, the Kospi was just about in the green at close, up 0.2 per cent to 2,488.42.
It comes following reports that South Korea’s exports over the first 20 days of April fell 5.2 per cent year on year, dragged by US bound shipments amid Donald Trump’s sweeping tariff policies.
07.10 - Good Morning
Good morning from the Business Post. Megan O’Brien here to keep you up to date on all the latest news as it happens.
Start your morning by catching up on Daniel Murray’s article on Darragh O’Brien’s pause on next phase of smoky coal regulations over market concerns before reading about how yet more price hikes on a cup of coffee could be on the way.
Meanwhile this morning, Asian markets are mixed, the Hang Seng and Shanghai Composite are trading higher, both up 0.5 per cent while Nikkei is down 0.25 per cent.