Morning Digest

Good morning. Here are the main business headlines today ??

Thousands of planned apartments ‘will never get built’

Thousands of apartments outside Dublin that have planning permission will probably never be built because they’re not financially viable, according to a report published on Thursday morning.

Bank of Ireland’s UK chief to step down

Bank of Ireland’s UK boss is to step down to pursue an opportunity outside the group.

Ireland Strategic Investment Fund eyes Irish deal flow with backing for €4bn Waterland fund

Acquisition finance remains plentiful, especially for growth oriented businesses, but higher debt costs have pushed down valuations, according to the head of private equity firm Waterland’s Irish arm.

Irish banks ‘significantly exposed’ to EU commercial property sector

Irish-based banks are “significantly exposed” to swings in other EU commercial real estate markets, the bloc’s financial risk watchdog has warned.

Guinness drove Diageo sales in Ireland last year as global revenues climbed

Guinness?drove a 20pc net sales increase in Ireland for Drinks group?Diageo?in the second half of last year, as growth soared above pre-Covid levels.

Inflation and UK strikes slow growth at Irish food group Greencore

Irish convenience food maker Greencore has reported lower than expected volumes as cost pressure and UK industrial action bite.

Software giant SAP to shed 3,000 from its global workforce

SAP plans to cut 3,000 jobs, or 2.5pc of its global workforce, and explore the sale of its remaining stake in Qualtrics, as the Germany software company looks to cut costs and focus on its cloud business.

‘The rebirth of the Aran geansaí happens every year’ – Carrolls Irish gifts CEO on Guinness glasses, The Banshees of Inisherin and locals buying items

Locals, rather than tourists, accounted for half of Carrolls Irish Gifts overall business both online and in stores in December.