Archive for the 'Business' Category

Enterprise in action

Watch the following video of Seán Brett, owner of Steeltech Sheds. An example of enterprise in action.

County Enterprise Awards 2017

Congratulations to TY team Cattlestop who won the senior Student County Enterprise Awards Final. These students will go on to represent St Gerald’s College in the National Final in Croke Park on May 3rd. The team is made up of Conor O’Brien, Mark Walsh, Niall Walsh, Micheal Kilcoyne and Joe Howley.

TK Whitaker

IMG_1310.JPG‘Architect of the Irish economy’ – 10 things you need to know about ‘national treasure’ TK Whitaker

€1bn beef exports to UK slump-Visible Trade

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Beef exports to the UK worth more than €1bn a year are slumping as the unfavourable exchange rate makes it less attractive to British buyers.

Yet Ireland has more beef than ever to sell, the latest figures reveal.

Increased beef supplies come as exports to Ireland’s most important beef market continue to fall in the wake of the Brexit vote. According to figures from the UK’s Revenue and Customs service, during September a total of 14,356 tonnes of beef were imported by the UK from Ireland, a 13pc reduction from the corresponding month in 2015, when 16,499 tonnes of beef were imported.

In 2015, Ireland exported an estimated 500,000 tonnes of beef worth approximately €2.41bn – and half of that went to the UK. Despite the recent slump, Ireland continues to be the biggest source of beef imports for the UK, with 129,739 tonnes imported during 2016.

Imports from Ireland accounted for 75pc of total beef imports from EU countries to the UK during the first nine months of 2016.

The Agriculture and Horticulture Development Board in the UK says the fall in Irish imports comes despite lower domestic prices in Ireland on the back of higher production.
While it says average unit prices were still up over 1pc in sterling, it also adds that increased domestic supplies in the UK will have been a strong contributor to the decline in trade levels.

However, according to figures seen by FarmIreland.ie, we could have more beef than ever to sell.

The highest beef kill in 12 years is currently predicted for 2017, while cattle supplies in Ireland could be 120,000 head higher next year, at 1.75m, on the back of increased calvings from Ireland’s expanding dairy sector.

Figures

The figures, which were presented by Bord Bia at last week’s Beef Forum, also show that the beef kill in 2016 is now estimated to be close to 1.64 million head, which is up as much as 80,000 on 2015. To date, in 2016 Irish cattle supplies are up 5.1pc or 68,500 head, according to the Bord Bia figures.

IFA president Joe Healy has urged a strong commitment on both sides of the Irish Sea to achieve a positive trading relationship in Brexit negotiations between the EU and the UK.

On the beef situation, Mr Healy said that with more than 50pc of our beef exports going to the UK market, the weakness of sterling is a major challenge.

However, the IFA says that exchange rate volatility is not the only determinant of price returns and higher prices are justified and necessary.

“Demand for beef in the UK remains very strong,” IFA national livestock chairman Angus Woods said.

“We are in the high demand Christmas procurement period, and trade has picked up.

“It is simply not acceptable for processors to return an unviable price to our farmers at this time.

“Prices must be restored to viable levels – factories must demand significantly higher prices from their British retailer customers and pass these increases directly back to farmers

 

source:independent.ie

Budget 2017

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Independent.ie

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Budget time

The budget date is set for October 11th 2017. The Government are currently spending €2bn more than what it is taking in, which means the deficit is borrowed. Bridging this gap amounts to €1000 borrowed for each per who works in the country.

This is difficult to sustain and a hard habit to break.

 

Source  Dan OBrien, Irish Independent 22/9/16.

Intel- International job losses

Computer giant Intel , who have reported a loss in sales of personal computers this year,  announce their restructuring of employment . They plan on reducing jobs by over 12,000. It employs over 5,200 people in Ireland but job losses across Europe have not been specified yet.

Will corporation tax play its part in keeping Intel in Ireland?

Are the skill’s and expertise of our workforce an incentive to save the Irish jobs?

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