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 - Ireland has potential for multiple billion-dollar companies if AI start-ups backed - VC fund manager
Barry Downes, managing partner of the venture capital fund Sure Valley Ventures (SVV), has said multiple billion-dollar companies could emerge from Ireland if we offer strong support for artificial intelligence (AI) startups.
Speaking to the Business Post, the software founder turned investor said there was no shortage of innovative Irish companies in the AI space adding “there’s lots of capital” in Ireland to bring them forward.
16.40 - Iseq closes in green
The Iseq rallied into positive territory on Tuesday as the market awaits for US President Donald Trump’s self-titled ‘Liberation Day’ tomorrow - a day expected to bring in sweeping reciprocal tariffs as Trump warned “all countries will be affected”.
The Iseq All Share closed up 1.63 per cent at 10,354.82 basis points after a positive day of trading.
The greatest fallers on the day were FBD Holdings and Malin Corporation which fell 3,14 per cent and 2.91 per cent, respectively. Greencoat Renewables also fell back, dropping 0.41 per cent in the day’s trading.
Meanwhile, Origin Enterprises recorded the greatest gains of the day in Dublin, rising by 3.68 per cent to €3.24 while Bank of Ireland and Glenveagh Properties were also up by 3.41 per cent and 2.92 per cent.
16.15 - Low earners took on debt to cope with cost of living - ESRI
Most low-income households had to make high-risk changes to their finances to cope with the cost of living crisis, according to the latest ESRI research.
Typical changes included entering arrears, taking on more debt, or eating into savings.
The research, conducted by the ESRI's Behavioural Research Unit, said such decision are linked to damaging long-term effects, including on mental health.
16.00 - Paschal Donohoe tempers tax cut expectations on eve of Trump’s ‘Liberation Day’
Paschal Donohoe has indicated delays to further personal tax cuts are on the cards as the government waits for Donald Trump to announce his sweeping tariff plan on Wednesday.
Responding to queries about government plans to roll out further income tax changes in October’s budget, similar to previous years, the finance minister said he believed progressive personal tax cuts rolled out by the government in recent years were still affordable.
But Donohoe said: “What we will have to do as we move through the year is further assess what changes in taxation are going to be appropriate in the context of Budget 2026”.
15.45 - IDA chair Feargal O’Rourke: Ireland’s exit charges will stop firms moving assets after Trump tariffs
The chair of the IDA, Feargal O’Rourke, has said firms will be dissuaded from moving intellectual property (IP) assets out of Ireland in the wake of Trump’s tariffs, due to the penalties imposed for doing so.
Ireland imposes significant exit charges on multinational companies moving IP out of the country. The rate of exit tax is 12.5 per cent.
O’Rourke said this was a “big deal” and can dissuade them from doing.
Speaking at an event on profit-shifting in Ireland and Europe, at the Royal Irish Academy, O’Rourke said shifting IP was “difficult” and “not something that you do every year”, owing to the complexity and costs involved.
15.30 - Owner of acclaimed restaurant Allta Niall Davidson faces directorship ban
A liquidator has issued High Court proceedings against Niall Davidson, the chef and owner of the acclaimed Allta restaurant, seeking to restrict him as a company director, new filings reveal.
Mícheál Leydon of Outlook Accountants lodged High Court proceedings yesterday seeking to restrict Davidson under reliefs available in the Companies Act 2014.
The case was taken by Leydon acting as liquidator of Table 21 Restaurants Ltd, a corporate entity which was formerly the vehicle behind Allta.
15.15 - Gold prices reach record high
Gold prices rose to touch a new record high on Tuesday, as investors turned to the safe-haven asset ahead of US President Donald Trump's planned announcement of sweeping tariffs on countries that have a trade imbalance with the US
Spot gold was up 0.3 per cent at $3,132.53 per ounce as of 2.08pm, after hitting an all-time high of $3,148.88 earlier in the day.
15.00 - European Research Council President urges Ireland not to ‘cut’ science innovations amid US trade tariffs
The President of the European Research Council Maria Leptin has said while Ireland is “understandably concerned” about US trade tariffs, policymakers must continue to invest financially in Ireland becoming a “centre of science and innovation”.
Leptin is visiting Dublin today where she’s meeting Taoiseach Micheál Martin, James Lawless, minister for further and higher education and Celine Fitzgerald, chief executive of Research Ireland, among others.
She is also meeting European Research Council (ERC) grantees, researching AI, climate change and health innovations.
Read more on the Irish Independent.
14.45 - US markets update
US stock indexes opened lower on Tuesday, marking a gloomy start to the quarter, as investors braced for the impending storm of sweeping tariff announcements from the Trump administration.
At 09:30 a.m. the Dow Jones Industrial Average fell 0.37 per cent to 41,845.98 the S&P 500 lost 0.37 per cent to 5,591.31 and the Nasdaq Composite lost 0.45 per cent to 17,221.83.
14.30 - Arvato’s deal to buy Dublin-based ATC Transport & Logistics worth €37 million
Irish firm ATC Computer Transport & Logistics, which services the data centre industry, was acquired by German company Arvato for €37 million.
Last November, Arvato signed an agreement to buy the company was founded by Alan and Patricia Young in 1979.
The company is now led by Keith Young, their son.
ATC provides transport, logistics, and technical services to hyperscale data centre operators, as well as operators in the freight and manufacturing industry.
Recently filed accounts by Arvato’s parent company, Bertelsmann, detailed the agreement and sale price.
Read the full article by Laura Roddy.
14.15 - Scaling digital businesses could add 14,000 jobs to Irish economy
Growing digital businesses in Ireland could create up to 14,000 high-value jobs if the proper supports are put in place, a new report has claimed.
But although Ireland has plenty of digital businesses, exceeding most European countries in terms of numbers, the country is falling behind when it comes to growing those businesses.
That is according to a new report conducted by Implement Consulting Group for Google.
The research valued the contribution of these scaling digital businesses at €1.8 billion annually to the economy, with around 47,000 people in Ireland already employed at these businesses.
14.00 - Greencore shares climb over 5 per cent as profit forecast raised after strong Q2
Irish convenience food manufacturer Greencore raised its full-year profit outlook on Tuesday, citing strong revenue momentum and cost control measures that drove better-than-expected performance in its second quarter.
The company now expects adjusted operating profit for the financial year ending September 26, 2025, to come in ahead of market expectations, in the range of £112-£115 million.
Andrew Ross has the full report.
13.45 - Government approves further 6 month extension of 9 per cent Vat on gas and electricity
The government has agreed that the 9 per cent Vat rate currently applied to gas and electricity will be extended by a further six months to 31 October. The 9 per cent Vat rate had been due to revert to 13.5 per cent from May 1.
A financial resolution will be brought to the Dáil tomorrow, April 2, to provide the necessary legal basis for this extension. The reduced rate of 9 per cent was first applied from May 1, 2022, the first Vat period after it became possible to apply such a reduced rate.
No decision has been made on any further extension which will be considered as part of the normal budget process.
The estimated cost of this extension is €85 million with the net benefit to households from May 1 to October 31 being approximately €26.60 with respect to electricity and €20.28 with respect to gas.
13.30 - NTMA plans to hold bond auction in May
The National Treasury Management Agency (NTMA) said it plans to hold a bond auction on Thursday May 8 - subject to market conditions.
The NTMA has issued €4 billion of bonds so far this year.
It plans to issue €6 billion to €10 billion worth of debt for the year and raised €3 billion in a January syndicated deal as well as €1 billion in an auction in March.
13.15 - Boeing denies fluctuations in 737 MAX jet production
Boeing on Tuesday denied a media report of fluctuations in 737 MAX production, saying that output had not reached 38 per month so far this year and nor had production recently fallen.
Industry publication The Air Current reported earlier that the widely watched production level for Boeing's best-selling jet had reached 38 planes in February only to fall back to a rate of 31 per month after delays in fitting wing systems.
13.00 - Start-up figures reach post-Covid high
Ireland recorded its highest number of company start-ups since before the Covid-19 pandemic, with 6,340 new businesses registered in the first quarter of 2025, marking a 3.9 per cent year-on-year increase, according to data from business intelligence firm CRIFVision-Net.
Key economic sectors including education (28 per cent), motor (18 per cent), and agriculture (11 per cent) saw positive double-digit growth during the period.
Christine Cullen, managing director of CRIFVision-net, said: “This is the strongest first-quarter performance for start-ups since before the pandemic, proving that Irish entrepreneurship is not only recovering but thriving.”
12.45 - ‘Not the moment’ for bank deregulation, EU official says
The EU’s deregulation drive should not “lower the bar” for financial stability at a time when it’s most needed, one of the bloc’s top banking regulators has said.
Dominique Laboureix, the head of the Brussels-based Single Resolution Board, said the EU’s effort to simplify reporting requirements and cut the costs of red tape for firms should not result in making banks less safe.
“We are ready to analyse what we could do in terms of simplifying our framework, our way of working with industry, but we are not ready to deregulate — that is very clear,” Laboureix told reporters on Tuesday.
12.30 - Pharma industry lobbies Trump for phased tariffs
Drugmakers are lobbying US President Donald Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.
Trump is expected to unveil a massive tariff plan on Wednesday. He said on Sunday that the reciprocal tariffs he is due to announce will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.
He has also said he will soon declare tariffs on the pharma industry, which have been exempt from past trade wars, following his measures against other sectors.
12.15 - Avant Money becomes fully licensed bank as official Bankinter branch
Financial services company Avant Money has announced it has officially become a branch of the Spanish owned Bankinter Group, Spain’s fifth-largest bank.
This move marks Avant Money’s official status as a fully licensed bank in the Irish market.
Niall Corbett, chief executive of Avant Money in Ireland, said that the backing of Bankinter means that the company can “continue to challenge the status quo in the Irish market.”
12.00 - US and Denmark to hold first high-level talks since Donald Trump’s win
Denmark’s foreign minister is set to meet the US secretary of state this week in the first in-person, high-level diplomatic talks between the two countries since the re-election of US President Donald Trump and his vow to “take control” of the Danish island of Greenland.
Lars Løkke Rasmussen and Marco Rubio plan to meet on the sidelines of a meeting of Nato foreign ministers in Brussels that begins on Thursday, two officials briefed on the preparations told the Financial Times, amid a flurry of diplomatic activity by both sides related to the Arctic territory.
The planned meeting, which the officials stressed could be cancelled due to the tense relations between Copenhagen and Washington, will come as Danish Prime Minister Mette Frederiksen visits Greenland, days after Trump’s vice-president, JD Vance, made his own visit to the island.
Read more on the Financial Times.
11.45 - Eurozone inflation cools to 2.2 per cent in March
Annual inflation in the eurozone has dipped slightly for the second month in a row, cooling to 2.2 per cent in March.
A flash estimate from Eurostat, the EU’s statistics agency, shows annual price hikes in the 20-member eurozone eased from 2.4 per cent in February.
The lower rate was mainly due to a fall in energy prices and slowing services inflation, Eurostat data shows. Energy prices fell 0.7 per cent compared to March 2024 and 1.2 per cent in the month to March this year.
Read more by Sarah Collins here.
11.30 - Labour productivity six times larger in the foreign sector than the domestic sector in 2023 due to globalisation - CSO
Labour productivity - defined as gross value added for each hour worked - stood at €105.8 per hour in Ireland in 2023.
Labour productivity in sectors dominated by domestically-owned companies was €61.1 per hour, while in sectors dominated by foreign-owned companies, it was €388.9 per hour.
Ireland's labour productivity was over double the EU average of €41.9 per hour, but this gap narrows significantly to a difference of €19.2 per hour when excluding foreign dominated sectors from Ireland's results.
The sectors of the Irish economy with the highest labour productivity in 2023 were foreign-owned manufacturing (€439.9 per hour), information and communication (€293.5 per hour), and electricity, gas, steam and air conditioning supply (€224.8 per hour).
Labour productivity grew in the domestic sector by 3.8 per cent in 2023. Electricity, gas, steam and air conditioning supply, which rose by 61.5 per cent in 2023, had the fastest growth in labour productivity in the domestic sector.
11.15 - US judge rejects J&J's $10bn baby powder settlement
A US bankruptcy judge on Monday rejected Johnson & Johnson's $10 billion (€9.26 billion) proposal to end tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer, marking the third time the company's bankruptcy strategy has failed in court.
J&J has been attempting to resolve the lawsuits through a subsidiary company’s bankruptcy, after two previous bankruptcy attempts failed in other courts.
11.00 - EU has 'strong plan' to retaliate to US tariffs if 'necessary': von der Leyen
EU chief Ursula von der Leyen said today the bloc still hopes for a "negotiated solution" to US tariffs looming this week, but that "all instruments are on the table" to hit back if necessary.
"We are open to negotiations," the European Commission chief told a European Parliament session, "but we have a strong plan to retaliate if necessary."
US President Donald Trump is set to announce a new raft of tariffs against multiple countries in what he has dubbed a "Liberation Day" to redress supposedly unfair trade imbalances.
10.45 - Samsung Elec appoints mobile chief as interim head of consumer and smartphone division
Samsung Electronics appointed its mobile chief Roh Tae-moon as acting head of its consumer and smartphone business on Tuesday, following the death of his predecessor, Han Jong-Hee, a week ago.
Han had also served as the company's co-chief executive. His death left newly appointed boss Jun Young-hyun solely in charge of the South Korean tech giant as it revamps its underperforming chip business and navigates rising competition and trade uncertainties.
10.30 - Start-up figures reach post-Covid high - Vision Net
Despite economic shifts at a national and global level, recent data published by Vision Net has revealed that 6,430 start-ups were reported in the first three months of the year, reflecting a growth of 3.9 per cent compared to the same period in 2024.
Key economic sectors including education (28 per cent), motor (18 per cent), and agriculture (11 per cent) saw positive double-digit growth during the period.
The company, which publishes Irish business and sole trader credit reports, said that this level of start-up activity in the Q1 period has not been seen since before 2020.
10.15 - Manufacturing growth slows slightly in March, PMI shows
Growth in the country's manufacturing sector slowed slightly in March, with concerns over global economic uncertainty and US trade tariffs tempering business optimism, a survey showed today.
AIB's Purchasing Managers' Index (PMI) slipped to 51.6 from 51.9 in February.
Despite the dip, the index remained above the 50 threshold that separates expansion from contraction for the third consecutive month.
March saw new orders rise at their fastest pace since April 2022, driven by a rebound in export sales. Production volumes also showed a solid upturn, marking the greatest increase in 13 months. But employment growth remained subdued.
10.00 - Fears shipping industry could use Ireland to ‘game’ UK emissions trading scheme
Ireland could emerge as a back door for shipping companies to avoid tougher British restrictions on maritime emissions, according to the UK government.
It comes after the UK said it would belatedly follow the EU by including the shipping and maritime sector under its domestic emissions trading scheme (ETS), a system of carbon reduction and trading for energy-intensive industries, from next year.
The current proposal will result in the operators of larger vessels such as tankers and cruises paying more for greenhouse gas emissions.
09.45 - Fraudsters try to make every day April Fool's Day, warns Bank of Ireland
Bank of Ireland is today warning customers that fraudsters do not just try to fool you for one day, they are always active.
The bank said that financial fraud can lead to devastating loss of income and savings.
Bank of Ireland said today that the ten most co
mmonly reported frauds are investment scams, smishing texts, vishing calls, purchase scams, romance scams, family impersonation, rental and holiday scams, money mules, malware, and phishing emails.
Nicola Sadlier, head of fraud at Bank of Ireland, said that fraudsters do not just try to fool you for one day, they never take a break and are always on.
09.30 - Revenue up at Ward & Burke, but trade war fears grow
Galway-based engineering group Ward & Burke has warned that the burgeoning global trade war sparked by Donald Trump will potentially impact the group, just as it has seen a strong performance from its US business.
In accounts seen by the Irish Independent, the company noted that its revenue hit €534m last year, which was up 15pc on 2023.
It made a pre-tax profit of €39.1 million in 2024, which was 36 per cent higher than the previous year. That brought its accumulated profits to €163.5 million.
Ward & Burke operates across Ireland, the UK, the United States and Canada. It helps to deliver major water infrastructure projects and directly employs about 1,500 people.
Read the full report on the Irish Independent.
09.15 - Gold sails to record high as tariff jitters fuel safe-haven allure
Gold prices surged to an all-time high on Tuesday, extending their record run, as investors flocked to the safe-haven asset to guard against the potential repercussions of US President Donald Trump's reciprocal tariffs.
Spot gold was up 0.1 per cent at $3,125.69 an ounce on Tuesday morning, after hitting a record high of $3,148.88.
US gold futures edged 0.1 per cent higher to $3,153.40.
Bullion has emerged as a preferred haven as investors watch for details from Trump's tariff plan, set to include all nations, on Wednesday.
09.00 - Ireland’s pharma exports to US could halve as Trump tariff threat looms, Harris warns
There is no clarity on whether Donald Trump and the US administration will impose country-specific tariffs as Simon Harris attempts to calm nerves in government at a crunch cabinet meeting on Tuesday.
The tánaiste and trade minister is due to bring a memo outlining to ministers the potential impact on the Irish economy ahead of widely-expected tariffs on European goods which could cost Ireland up to 80,000 jobs and impact numerous sectors.
Officials have estimated that in the event of 20 per cent tariffs by the European Union and the United States, exports of pharmaceuticals and chemicals from Ireland to the US could decline by about half.
08.45 - Whistleblowers earned Revenue an extra €1.2 million in 2024
Whistleblowers who reported suspected tax dodging by their employers earned Revenue an extra €1.2 million last year, according to a new report.
The Protected Disclosure Act, which gives legal cover to anyone reporting possible wrongdoing by their employer to State authorities, includes tax and customs evasion.
Revenue said in a report published on Monday that investigations prompted by such disclosures “yielded over €1.2 million in additional taxes and/or duties for the Exchequer in 2024″.
They also resulted in new tax registration, debt collection through phased arrangements and publication of the businesses’ names in the quarterly tax defaulters’ lists, the report adds.
Read the full report on the Irish Times.
08.30 - ChatGPT maker OpenAI raises record $40 billion in SoftBank-led deal
OpenAI, the artificial intelligence company behind ChatGPT, said it has finalised a funding round that will bring in $40 billion (€37.20 billion) from SoftBank Group and other investors at a $300 billion valuation, including money raised.
The AI developer’s financing round is the largest of all time, according to data compiled by research firm PitchBook. The deal values the company at almost double its previous valuation of $157 billion when it raised money in October. Bloomberg reported on March 26 that OpenAI was close to buttoning up the $40 billion financing deal.
08.15 - Irish markets update
The Iseq All Share opened in the green on Tuesday, rising 0.68 per cent (+68.80bps) since previous close to 10,257.48.
This could be attributed to main risers including Kerry Group which grew 0.05 per cent to €96.60 per share and Ires Reit which gained 0.43 per cent to €0.94 per share.
Meanwhile, the bottom performers on the Irish market were FBD Holdings which dropped 1.05 per cent to €14.20 per share and Glenveagh Properties which lost 0.40 per cent to €1.50 per share in early trade.
08.00 - Bauer Media completes the acquisition of Clear Channel Europe-North
Bauer Media Group has announced the completion of its acquisition of Clear Channel Europe-North, a company that focuses on Out of Home media.
Clear Channel is an outdoor media company that focuses on advertising through billboards, street furniture, phone kiosks and digital screens.
In a statement, the operator of media brands such as Today FM, Newstalk, Off The Ball, SPIN and GoLoud, said the acquisition will strengthen its core media-related businesses and unlock new digital opportunities.
Although no financial details of the deal were disclosed in the announcement, a statement from Clear Channel in January 2025 said that the expected purchase price from the transaction was $625 million (€578 million), subject to certain customary adjustments.
07.45 - Retired people have €295bn in assets to pass on over next two decades, says Goodbody
Some €295 billion in wealth accumulated by “retired households” here is set to be transferred to family and others over the next couple of decades, according to a new report on inheritance and estate planning in Ireland by stockbroker Goodbody.
According to the Goodbody analysis, some €201 billion of this amount is tied up in housing, with another €51 billion on deposit, €20 billion in financial investments such as shares, bonds, etc, and €23 billion in business wealth.
The stockbroker notes that the wealth figure for retired people is likely to continue to increase in the coming years due to rising house prices and as their share of the population increases.
07.30 - ‘The industry is not in crisis’ – Tourism chief on shock stats which showed dramatic slump in visitors
Tourism industry representatives have said that recent data showing a 30 per cent drop in the number of foreign visitors in Ireland in February of this year is “at odds” with what they have heard on the ground.
Eoghan O’Mara Walsh, chief executive of the Irish Tourism Industry Confederation (ITIC) told the Business Post that the organisation is set to meet with the Central Statistics Office (CSO) on Friday to discuss how it collected and collated the information.
It comes after the CSO reported a sharp drop in the number of foreign visitors who completed a trip in Ireland in February, compared to the same month last year.
Megan O’Brien has the full story.
07.15 - Asian markets update
Asian equities are recovering this morning after Wall Street’s overnight gains but performance is mixed.
Across the region, the Kospi (+1.89 per cent) is leading gains with the Hang Seng (+1.06 per cent) also trading notably higher.
Elsewhere, the Nikkei's (+0.20 per cent) recovery is disappointing after yesterday’s 4.05 per cent rout where it hit a six-month low.
The S&P/ASX 200 (+0.92 per cent) is also trading higher after the RBA decided to leave rates unchanged while Chinese equities are edging higher with the CSI (+0.29 per cent) and the Shanghai Composite (+0.59 per cent) both trading in the green as China’s factory activity beat forecasts.
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 morning with an article about Warren Private which has submit plans for a mixed-use hotel and residential development at the former Westbrook Motors site on Parkgate St in Dublin 8. Read the full story by Eoin O’Hare here.
Elsewhere, leading the Financial Times is an article about US stocks posting the worst quarter since 2022 as tariff worries swirl.