Out of Office: Aer Lingus pay row takes off
The Business Post gets you up to date with the big stories of the day
Welcome to the Business Post’s Out of Office, your round-up of the day’s business, tech, markets, legal and politics news.
There has barely been a week this year when events at Dublin Airport did not make headlines, and today was no different.
Ellie Donnelly reported on the latest developments in the stand-off between Aer Lingus and some of its stuff over pay. The airline issued a fresh warning to its pilots union that it could miss out on the delivery of a new plane unless the spat is resolved by a deadline next month.
Also in aviation, it emerged this morning that DAA would not appeal the state competition watchdog’s decision to block its purchase of a car park near Dublin Airport.
Elsewhere, profits at Murray Consultants, the Dublin-based public relations firm, rose by a third to €1.7 million last year.
Lorcan Allen analysed concerns by industry experts, who have raised concerns about a $12 trillion AI bubble, with just seven mega-cap tech stocks now accounting for over 30 per cent of the entire value of the US stock market.
Also in technology, Huawei Technologies sustained its run of strong quarterly profit growth, reporting net profit of about 13.9 billion yuan (€1.76 billion) in the December quarter.
And finally, it was confirmed that the Shelbourne hotel has been sold to Archer Hotel Capital, the owner of the Conrad on Earlsfort Terrace, in a $335 million (€311 million) deal. Killian Woods broke the story of the sale in the Business Post two months ago.
Have a great Easter weekend.
News in brief
* Obama and Clinton come out to raise funds for Biden’s re-election
* Jeffrey Donaldson stands down as DUP leader after being charged with ‘historical offences’
* Second-hand property prices rising more rapidly this year
* Cathal Friel led green metals firm raises over €7 million
* US lawmakers told WuXi sent intellectual property to China
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* New Green strategy to reduce private car use to go to government
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* Ian Guider: Little or no incentive for AIB or Bank of Ireland to pass on rate cuts
