Hiring to hit record levels this year; median wealth of home owners far outpaces renters

Your essential round-up of the latest business news

All the business news you need to know in one place

The Dublin economy is to benefit to the tune of €50 million from next year’s Heineken Champions Cup, the organisers have said. It has been announced that the Heineken Champions Cup and European Professional Club Rugby (EPCR) Challenge Cup Finals are to return to Aviva Stadium in May 2023. The matches will take placeon Friday, May 19 and Saturday, May 20.

Unite, the union, has urged the Low Pay Commission to recommend an increase in the national minimum wage to €12.50 from November 1. The union proposed the increase as part of a two-year strategy to raise the minimum wage to €14.95 by 2024, 66 per cent of projected median earnings. The current minimum wage is currently €10.50 an hour. “Failte Ireland research also shows that 16 per cent of hospitality workers earn less than €10 per hour, indicating that some employers are availing of age thresholds to squeeze pay even further. It is Unite’s position that age thresholds should be abolished and all workers paid the rate for the job. Unite’s own research, carried out last year, found that low pay was the biggest problem identified by workers in the sector and clearly acts as a barrier to retention and recruitment,” said Julia Marciniak, Unite’s tourism coordinator.