Out of Office: Bumper pay packets and stressed lawyers
The Business Post gets you up to date with the big stories of the day
Welcome to the Business Post’s Out of Office, your daily round-up of the day’s business, tech, markets, legal and politics news.
Extraordinary pay packets were front and centre of the homepage today. First it emerged that Edmond Scanlon, chief executive of Kerry Group, received a bonus of €1.3 million last year, up from €416,000 in 2022. Scanlon’s overall salary rose by 17 per cent to €4.6 million.
But even that bumper pay packet paled in comparison to the remuneration of Albert Manifold, chief executive of Cement Roadstone Holdings (CRH), who was the highest paid Irish executive last year with a total package of more than €12 million.
On the other end of the salary scale, members of the Irish National Teachers Union (INTO) and Fórsa earlier voted to approve the 10.75 per cent pay deal negotiated with the government in January. And business leaders warned that taxing pension pots over €2 million has become a “barrier to business growth”.
Elsewhere, Catherine Sanz published a follow-up to her excellent piece earlier in the week which revealed the toxic culture inside Ireland’s legal profession. For today’s article she spoke to an employment expert, a doctor and to lawyers themselves about the high price they pay for working in such a high pressure environment.
In the courts, Catherine also has the details of a heated High Court trademark row between two Chinese restaurants in Dublin over their names.
And the shock waves of last weekend’s referendum defeats continue to reverberate, with Simon Harris saying the government should reflect on its decision not to release advice from the attorney general ahead of the vote.
News in brief
* British activist investor takes stake in Ires Reit
* Ballymore’s UK arm books £5m losses amid trying time in London housing market
* Three centres across Ireland named on FT list of Europe’s top start-up
* Retaining Dublin Airport passenger cap will not reduce emissions, DAA chief claims
* Gabriel Makhlouf hints at ECB interest rate cut in June
What BusinessPost.ie subscribers are reading
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* Marion McKeone: For Trump’s female supporters, no transgression is too great
* ‘You’re doing a deal with the devil’: Irish lawyers speak out about toxic culture
