Eoin Burke-Kennedy

Journalist at Irish Times

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Articles

How three Irish companies are adapting to Trump’s tariffs

6 days ago | irishtimes.com | Eoin Burke-Kennedy

Six months ago, before Donald Trump, before tariffs, Clonakilty Distillery reduced the price of its premium whiskey brand in the United States from $60 (€53) a bottle to just under $50. With the US consumer on the back foot because of inflation, anything above $50 had become “problematic”, says company founder and managing director Michael Scully. “We could see it coming, so we changed our pricing.”“You might assume the US consumer has a lot of money, but that has changed ...
With stronger euro dampening inflation, ECB’s latest rate decision was no-brainer

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Despite the uncertainty gripping the global economy, the European Central Bank’s (ECB) decision to continue cutting interest rates was a no-brainer. The main market fallout from US President Donald Trump’s increasingly erratic trade policy (apart from the violent stock market swings) has been a stronger euro/dollar exchange rate. This (combined with falling energy prices) is already having a disinflationary impact on the euro zone economy.
ECB cuts interest rates again amid tariff turmoil

1 week ago | irishtimes.com | Eoin Burke-Kennedy

The European Central Bank (ECB) lowered borrowing costs by a further quarter point (0.25 of a percentage point) on Thursday as the market turmoil from US tariffs overtook inflation as the chief concern. Frankfurt policymakers have cut rates seven times since last June, bringing the bank’s benchmark deposit rate down to 2.5 per cent from 4 per cent.
Kerrygold owner Ornua reports €3.4bn revenue while warning of looming tariff shock

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Kerrygold owner Ornua has reported revenue of nearly €3.4 billion for last year while warning of a “potential shock” to the global trading system from US tariffs. The State’s largest dairy exporter said the results reflected “a strong trading performance amid volatile conditions driven by the impact of cost inflation and a pressurised milk supply”. Chief executive Conor Galvin, however, warned that the group was “now entering a period of much uncertainty driven by ongoing global trade tensions”.
Irish exports to US surge by 210% in February ahead of tariff deadline

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Irish goods exports to the US surged by 210 per cent in February (compared to the same month last year) as firms stockpiled produce in the US ahead of the introduction of tariffs. The latest trade figures from the Central Statistics Office (CSO) show the value of exports to the US increased by €8.7 billion (210.5 per cent) in February, rising from €4.2 billion to €12.9 billion.
Majority of workers link hybrid working with health and wellbeing

1 week ago | irishtimes.com | Eoin Burke-Kennedy

More than two-thirds of Irish workers see hybrid or flexible work arrangements as essential to their health and wellbeing. That’s according to a survey the Irish Business and Employers Confederation (Ibec), which highlights a “significant shift in attitudes toward workplace wellbeing in the post-pandemic era”.
Auto-enrolment to be delayed again as tariffs cloud outlook

1 week ago | irishtimes.com | Eoin Burke-Kennedy

The introduction of the auto-enrolment pension scheme is to be delayed again with Minister for Public Expenditure Jack Chambers indicating it is likely to be pushed back beyond the planned September introduction date. Proposed increases to the minimum wage are also to be deferred as part of Government plans to support businesses amid the economic uncertainty caused by US tariffs.
Government generates record €23.4bn surplus last year on back of Apple tax money

2 weeks ago | irishtimes.com | Eoin Burke-Kennedy

The Government generated a record €23.4 billion budget surplus last year, driven in large part by the Apple tax money. Central Statistics Office (CSO) data, published on Monday, showed total Government revenue, which includes taxes, social insurance and income on investments, rose by 20 per cent (€24.5 billion) to €148.3 billion in 2024. Government coffers were boosted last year with almost €11 billion flowing in from Apple as a result of the high-profile European court ruling last September.
Government delays Spring economic statement amid tariff uncertainty

2 weeks ago | irishtimes.com | Eoin Burke-Kennedy

The Department of Finance has delayed the publication of its Spring economic statement as the fallout from US tariffs clouds the outlook. The department had been scheduled to publish its Annual Performance Report (APR) this week but this has now been deferred until the end of the month because of the uncertainty posed by US tariffs. A spokesman confirmed the document would “be published in the coming weeks”.
Which will get to Musk first: Tesla’s falling share price or Trump’s Maga clique?

3 weeks ago | irishtimes.com | Eoin Burke-Kennedy

It’s edifying for liberals to see Elon Musk as a sort of madcap Icarus, flying higher and higher and into an inevitable crash and burn sequence. Icarus’s folly (or arrogance) was to equate himself with the god of the sun, Helios, and to fly at a commensurate altitude with predictable consequences.