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Tesco said today it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market environment “incredibly challenging”. Chief executive Ken Murphy vowed to work with suppliers to mitigate the impact of inflation as much as possible and support customers who are facing the most difficult economic conditions…

The Government is to make €55m available to businesses to help them move away from the use of fossil fuels. The new Green Transition Fund, to be launched later, will be made up of two parts. The Climate Planning Fund for Business, worth €25m, will provide firms with funding to help them plan how they…

The Ireland Strategic Investment Fund, known as ISIF, has announced plans to step up its regional investments. The fund, which is part of the National Treasury Management Agency, has a mandate to invest on a commercial basis to support economic activity and jobs. A new €500m investment programme will target the five regional cities of…

The Central Bank has warned that broad based price pressures have increased the risk of more medium-term inflation. The regulator also said that these inflationary pressures present new challenges for borrowers. However, the bank said these pressures are coming at a time when many borrowers have built up higher resilience over the past decade. The…

New research from the Irish Tourism Industry Confederation shows that inflation in May in the tourism industry was seven times higher that the same time in 2019, which is putting significant cost pressure on the sector. The Irish Tourism Industry Confederation’s latest dashboard for May shows that the sector’s recovery continues to gather pace. But…

Musgrave is investing €25 million in SuperValu and Centra stores as part of a new sustainability fund aimed at helping retailers to achieve net zero carbon by 2040. The supermarket supplier said the investment will result in an estimated 12% carbon reduction by the company over a two-year period. In the Republic of Ireland, Musgrave…

Ireland has been ranked as the third most competitive country in the euro area by the latest IMD World Competitiveness Rankings. It has also been placed as the 11th most competitive economy in the world out of 63, up from 13th last year. The development has been welcomed by the National Competitiveness Council (NCC), but…

Formal public sector pay talks between the Government and unions will resume at the Workplace Relations Commission. The negotiations opened yesterday and were adjourned after around four hours. The talks come after unions triggered a review clause within the existing public sector pay deal ‘Building Momentum’ due to rising inflation. Under the current agreement, public…

The Taoiseach has described the legislation on the Northern Ireland Protocol published by the British government yesterday, as “anti-business and anti-industry”. Speaking on his way into Cabinet this morning, Micheál Martin said the action by the UK represented a “fundamental breach of trust”. He said he did not believe that the legislation was well thought…

Ryanair Group chief executive Michael O’Leary said today that bookings at Europe’s biggest budget airline are strengthening and he expects summer fares to be between 7% and 9% higher than pre-pandemic levels. Speaking to Reuters, he said the load factor, a measure of how well an airline is filling available seats, should be around 94%…