Deloitte endorses the use of AI technology to enhance infrastructural development
In a bustling week of economic developments and industry news, Ireland saw significant movements across various sectors.
Firstly, the much-anticipated Oasis double-header at Croke Park marked a long-awaited return for the band to Irish soil since 2009. The events left a noticeable impact on consumer spend and transaction volume, according to fintech platform Revolut. The company reported a more than 9% increase in card spend during the Oasis gigs weekend compared to the previous weekend, and a volume of transactions that rose by over 8%.
Meanwhile, in the world of spirits, the Drumshanbo Gunpowder Irish Gin company is facing challenges due to the US President's 15% tariff on imported EU goods. Despite these hurdles, the company plans to double its investment in the United States, demonstrating resilience in the face of adversity.
In the pharmaceutical sector, US companies are continuing to increase investments in the European Union, despite tariffs. This trend is evident as these companies often channel financial flows through Europe, making it a strategic hub for their operations.
The future of Ireland's infrastructure resilience has been a topic of discussion, with Deloitte consultancy firm stating that AI tools can play a crucial role in improving the resilience of ageing infrastructure, which is increasingly exposed due to climate-related disasters. The National Development Plan offers a significant opportunity to future-proof Ireland's infrastructure, according to Stephen Prendiville of Deloitte Ireland.
In the dairy industry, around 130 jobs could be lost due to Leprino Foods Company closing its manufacturing plant in Portlaoise. SIPTU representatives are due to meet senior management at the company to discuss this matter. The Co Laois factory produced mozzarella and string cheese.
In the job market, there has been a shift in interview practices, with job interviews now asking for your current salary, but not disclosing the new role's pay. Suspecting a colleague is earning more or receiving a car allowance may be a concern in some workplaces.
Lastly, Pat Rigney, co-founder of the Shed Distillery, stated that the company will increase investment in marketing, innovation, and time in the marketplace. The future looks promising for the Irish spirits industry, with companies like Drumshanbo Gunpowder Irish Gin and Shed Distillery showing resilience and growth despite challenges.
For more personal finance news and updates, subscribers of the Irish Times can sign up to the On the Money newsletter, a weekly newsletter from the personal finance team. As for the future of Intel's Leixlip plant, questions remain unanswered regarding the potential US government investment focusing on boosting US manufacturing capacity.
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