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Ronan loses City Arts Centre bid, tax hike opposition, and thumbscrews ready over OECD plan


US businesses operating in the Republic oppose any moves to increase personal taxes over the Government’s remaining term. That’s according to the American Chamber of Commerce Ireland, which has just submitted it pre-budget submission to the Minister for Finance. Barry O’Halloran has the details.

Barry also reports on Bord na Móna which earned a €22 million profit last year, its first since 2017. Sales at the company were €324 million in 2020. Chief executive Tom Donnellan hailed the “outstanding success” achieved by the company since 2017.

Social athletic platform Strava is to open a new office in Dublin as it plans rapid growth in Europe. Ciara O’Brien has the story.

In Commercial Property, Ronald Quinlan reports that KC Kapital has seen off rival offers from Johnny Ronan, Marlet, and RQTwo and is closing in on a €40 million purchase of the former City Arts Centre on Dublin’s City Quay.

Ronald also reports that Press Up is targeting beachgoer demand for food and drink with a lease on the landmark McDaniels pub in Brittas Bay.

As Ireland begins a consultation processon the OECD’s tax proposal, Cliff Taylor writes that the thumbscrews are ready if Ireland doesn’t sign up to the deal.

The pressure on Ireland, one of just eight countries who have not signed to the draft plan, is building. If there is a deal there will not really be any choice, Cliff writes, we will sign up.

Ciara O’Brien interviews Dell’s president of international markets, Aongus Hegarty, who talks about how the pandemic caused an ‘overnight pivot’ for the firm as it moved to having 95 per cent of its team members working remotely across the world.

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Dublin-based fintech Soldo has raised $180 million (€153 million) in an oversubscribed funding round. The company, which relocated its corporate headquarters to the Republic of Ireland two years ago has developed an automated platform that enables businesses to manage company-wide spending from one easy-to-manage solution.

Charlie Taylor reports on this, and on Irish biotechnology company RemedyBiowhich has secured a new €8 million investment from the European Innovation Council.

Meanwhile, Google, which employs 8,000 people in the Republic,is to be officially recognised for the contribution the company has made over the past 18 years with an award from IDA Ireland.

And finally, Joan Henry, chief economist and head of research at Knight Frank Ireland, writes that the pandemic and housing crisis is driving a demand for better rental properties and while the of home ownership remains strong, the rental sector also plays crucial role.

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