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Eddie O’Connor has resigned as chairman of Mainstream Renewable Power. It comes after comments he made last week, at the Dublin Climate Dialogues, that Africa’s energy transition was being held back by a lack of education in “tribal societies.” Just weeks ago Mr O’Connor closed a deal valuing his Mainstream Renewables at €1bn. Mr O’Connor made the comments while speaking on a panel about the energy transition. He was asked by the moderator if major economies would lead the investment needed in clean energy in the next five years. In economies like Europe, the US, and China, he s...

Cost of Sarp tax reliefs for overseas executives rises sharply But number of multinational executive jobs supported via tax scheme ‘falls sharply’ about 7 hours ago Ken Foxe Minister for Finance Paschal Donohoe was advised to emphasise the fact that the €1 million cap had been introduced if questions arose about the controversial scheme. File photograph: Alan Betson   The number of jobs being supported through a lucrative tax-relief scheme for highly-paid multinatio...

May 7, 2021 12:13 pm A New Brexit Loan Scheme is set to be launched in the coming weeks, the government has announced. The planned scheme was announced yesterday (Thursday, May 6) by Tánaiste and Minister for Enterprise Trade and Employment Leo Varadkar; Minister for Agriculture, Food and the Marine Charlie McConalogue; and Minister for Finance Paschal Donohoe. The ministers are calling on financial providers to take part in the new Brexit loan scheme, which will be administered by the Strategic Banking Corporation of Ireland (SBCI). The scheme will be funded up to €330 million, and will b...

Political Correspondent A company called Dolphin Trust, whose nerve centre is in Ireland, has lost billions of investors' money, Sinn Féin's Finance Spokesperson Pearse Doherty has told the Dáil. Mr Doherty said the company is based in Ireland and is under investigation in Germany. He said more than 1,800 "ordinary people" from this country - some with investments of around €40,000 - have lost money in Dolphin Trust. Mr Doherty told the Dáil that up to 20,000 people around the world will lose money in what he described as "the wild west of financial markets". Mr Doherty asked Tánaiste L...

How did the broker end up being fined €4m and what happens next?