Shortages in finance are threatening the recovery in Ireland's building industry, according to new data from PwC.
While the general mood of this construction industry survey is positive, 63 percent of respondents said that it is difficult to get finance, and half said that they have looked away from banks and towards alternative money sources to fund projects.
On a more positive note, 95 percent of companies are confident about their outlook for the next three years, and 87 percent expect their turnover to increase in the coming months.
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Eircom has announced revenues of €311m for the third quarter of the year, a 1 percent fall compared to the January to March period last year. Revenues at the company continue to fall but at a slowing rate as the former plc switches more of its focus to broadband and mobile from fixed line services.
Operating costs were 6 percent lower in the quarter and pay costs were down by 17 percent – the company has shed more than 2,000 jobs in the past three years.
Eircom says that its fibre network now reaches 1.2m homes and business premises more than 50 percent of all those in the country while more than 25 percent of its customer base are now buying TV services as part of a bundled multi-media package.
A Dutchman, Huib Costermans is to become Group Chief Financial Officer and a Czech native, Erik Slooten will become Chief Information Officer.
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The Irish Exporters Association has warned that the Irish Government needs to put contingency plans in place to deal with the UK potentially leaving the EU.
Simon McKeever, CEO of the association said, "It is of vital importance that the Government start to develop a plan to prepare for the possibility of a so-called 'Brexit'. It may not happen but it is of critical national importance that we are prepared for the possibility."
He continues: "Scenarios need to be developed assessing the impact on the Irish economy of a possible UK exit from Europe and appropriate action plans prepared"
The front page of today's Guardian reports that the chief executive of manufacturing-giant JBC has warned that an EU exit could be in the country's best interest.
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Former whistleblower Paul Moore who gave evidence to a parliamentary committee in London during 2009, and warned of excessive risks being taken by banks prior to the crash has said that punishments for bankers have been too soft and that little has changed in the banking sector.
Moore warns that the legal privilege of limited liability was never meant to apply to organisations like banks and international corporations.
He is also critical of management, he says that, “The wrong people get to the top of these organisations,” with many of those in high-ranking jobs lacking empathy, and possessing a lust for power.
