Out of Office: Paddy Cosgrave returns and Varadkar resigns

Welcome to the Business Post’s Out of Office, your round-up of the day’s business, tech, markets, legal and politics news.

Leo Varadkar attended the North-South Ministerial Council earlier today as his last outing as taoiseach, before handing his resignation to President Michael D. Higgins this evening.

The top job will not be empty for long though, as Simon Harris is expected to be voted in tomorrow. Confused about how this process works? Fear not, Daniel Murray has written a simple explainer which covers all the basics.

Daniel also reported on Harris’ €60 million plan to update the higher rate of employers’ PRSI to reflect the new minimum wage.

Harris is not the only movement on the job market this week, as Paddy Cosgrave confirmed he would return to the helm of Web Summit, six months after resigning over comments regarding the Israel-Hamas conflict. You can read Charlie Taylor’s analysis of what this means for the global tech company here.

In the North, Gavin Robinson said the DUP was seeking a new candidate in Lagan Valley to replace Jeffrey Donaldson at the next general election.

Elsewhere, it emerged that Ires Reit, the state’s largest landlord, has come to an agreement with Vision Capital, which will see the activist investor suspend activity until after the 2025 annual general meeting.

And Sharon Donnery, deputy governor of the Central Bank, said it was important the nation learned from the financial crisis.

She was responding to reporting in this publication in which BlackRock and State Street, two of the largest international players in the Irish financial services industry, called for the Central Bank to be given duty of promoting and supporting the Irish financial sector.

News in brief

* Taylor Wessing, the international law firm, has appointed its first dedicated tax partner in Ireland

* Shutting up shop: Ted Baker to close 15 locations across the UK

* Rolex CEO says it’s risky to view watches like stocks

* DUP seeking new candidate to replace Jeffrey Donaldson

* Kilkenny, Cavan and Kerry see largest drop in live register figures

What BusinessPost.ie subscribers are reading

* Middle-East investors amassing 1,000 acres in Wicklow to build international airport

* Inside Paddy McKillen jr’s Oakmount: building blitz and pub sales put the fizz back into Press Up

* Fine Gael faithful push for more business supports but Harris rules out mini budget

* New €2bn Dublin Airport terminal ‘needed for future growth’, Ulick McEvaddy claims

* Post Script: Magnier jr loses millions on well-backed, under-performing Australian horse