As the sun shone, hosepipe bans were placed and All-Irelands were played, much happened around the world. Here’s a rundown of what we learned in July.

1. Apple doesn’t fall far from the tr…ansport system.

This month, a major investment plan was unveiled, one which would boost infrastructure capital spending by 30% through 2030. Funded by the €14 billion Apple tax windfall and AIB share sale proceeds, the move would target housing, energy, transport, and water upgrades.

The plan has been hailed by Taoiseach Mícheál Martin as a “step change,” particularly as Ireland has forever failed to use a multinational-driven corporate tax boom to improve creaking energy and water infrastructure and boost housing supply for its fast-growing population. (The International Monetary Fund recently estimated that its infrastructure lags competitor economies by around 32%.)

2. PayPal jobs are go.

PayPal announced this month that it plans to transform its Irish operations into an innovation hub, creating 100 high-skilled roles in AI engineering, data science, cybersecurity, and fraud detection. Backed by IDA Ireland, the expansion reflects the company’s commitment to investing in the future of commerce through advanced data science and artificial intelligence capabilities. According to a statement by the corporation, it also marks a new chapter for the Irish wing, as the new AI team will work in close coordination with other innovation hubs.

3. Enterprise Ireland identifies €1.1 b equity finance gap.

A report from the Minister for Enterprise, Tourism and Employment, Peter Burke, entitled “Market Demand for and Supply of Scaling Finance in Ireland,” estimates a €1.1 billion shortfall in scaling capital for high-growth Irish firms. The report concludes that there is a gap in equity financing for Irish enterprises at the point where they are looking to scale up their businesses and realise their potential. It estimates that gap at about €1.1 billion over the next 2-5 years.

The report, prepared by SQW Economic Research Consultants for the Department of Enterprise, Tourism and Employment, also finds that:

  • Demand for equity finance amongst scaling firms has increased in Ireland over the last decade.
  • And that the gap is particularly acute for deals in the €5 million – €10 million range, capital and research and development-intensive sectors and firms requiring patient, long-term capital investment.

4. €3.68 b business & innovation fund launched.

The Department of Enterprise, Tourism and Employment has announced funding of €3.68 billion under the National Development Plan to support transformative enterprise, innovation and tourism programmes through to 2030. The funding will enable the department and its agencies to invest directly in Irish companies and to strengthen our indigenous base, in the face of potential geopolitical shocks.

“This €3.68 billion investment is the linchpin in Ireland’s vision to be a global leader in enterprise, innovation and entrepreneurship,” Minister for Enterprise, Employment and Tourism Peter Burke said. “It will enable my department to continue its delivery of capital schemes to businesses, focusing on jobs and enterprise development, innovation and tourism programmes, including utilisation of the full extent of income earned by the department’s agencies.”

5. Inflation & Employment.

Central Statistics Office (CSO) flash estimates of inflation from the EU Harmonised Index of Consumer Prices (HICP) this month indicate that prices for consumer goods and services in Ireland are estimated to have increased by 1.6% in the past year. Energy prices are also estimated to have increased by 1.5% in the month; however, they have decreased by 0.3% since July 2024.

In news that will surprise nobody, food prices are also estimated to have risen by 0.2% in the last month and by 4.6% in the last 12 months. Transport costs have grown by 1.2% in the month and declined by 2.7% in the 12 months to July 2025.

In July 2025, the CSO report for unemployment showed Ireland’s unemployment rate rose to 4.9%, up from 4.6% the month before and 4.5% a year earlier. Male unemployment increased to 5.0%, while the female rate rose to 4.7%. Youth unemployment jumped to 12.2%, up from 11.3% in June. Among adults aged 25 – 74, the rate ticked up slightly to 3.8%.

6. Cautious optimism at the IMF.

Later in the month, the International Monetary Fund (IMF) lifted its 2025 global growth estimate to 3.0%, citing tariff-driven stockpiling, but later warned that geopolitical tensions and trade barriers continue to cloud the outlook. Officials at the organisation went on to say that the global economy faced major risks, including a potential tariff rebound, geopolitical tensions and larger fiscal deficits. “The world economy is still hurting, and it’s going to continue hurting with tariffs at that level, even though it’s not as bad as it could have been,” said Pierre-Olivier Gourinchas, IMF chief economist.

In an update to its World Economic Outlook from April, the IMF raised its global growth forecast by 0.2 percentage point to 3.0% for 2025 and by 0.1 percentage point to 3.1% for 2026. However, that is still below the 3.3% growth it had projected for both years in January and the pre-pandemic historical average of 3.7%. According to Reuters, it said global headline inflation was expected to fall to 4.2% in 2025 and 3.6% in 2026, but noted that inflation would likely remain above target in the U.S. as tariffs passed through to U.S. consumers in the second half of the year.

7. The biggest deal ever made.

The U.S. and EU agreed this month to a deal imposing a 15% baseline tariff on most EU exports, avoiding a potential 30% iteration, halting retaliation after months of trade tension. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the deal at Trump’s luxury golf course in western Scotland after an hour-long meeting that pushed the hard-fought deal over the line, following months of negotiations.

“I think this is the biggest deal ever made,” Trump told reporters, lauding EU plans to invest some $600 billion in the United States and dramatically increase its purchases of U.S. energy and military equipment. Trump said the deal would expand ties between the trans-Atlantic powers after years of what he called unfair treatment of U.S. exporters.

Von der Leyen told reporters it was “the best we could get.” “We have a trade deal between the two largest economies in the world, and it’s a big deal. It’s a huge deal. It will bring stability. It will bring predictability,” she said.

8. Sweating? Us too.

July 2025 was the 9th warmest July and 12th warmest of any month in 126 years of records on the island of Ireland. From July 10-13, temperatures surpassed 27°C on each day, continuing the recent warmer-than-normal monthly trend; this is the 5th consecutive month with temperatures in the respective top 9 averages on record in 126 years of records.

9. M&A’s July 2025.

Here we go again…

Galway-based firm FCC Chartered Accountants acquired by Xeinadin

Professional Services firm Xeinadin has announced that Galway firm FCC Chartered Accountants will be joining its expanding Irish team. Based in Galway city centre, FCC was previously part of CAG Chartered Accountants. Their services include auditing and assurance, financial advisory, tax planning, and bookkeeping. FCC has prided itself on building long-lasting relationships, and has seen its client base double since 2021.

Aurelius acquires Exertis Ireland and the UK

DCC, the Irish conglomerate seeking to narrow its focus to energy, has agreed to sell its Irish + UK information technology distribution business to German-based private equity group Aurelius in a deal worth €115 million. The Info Tech unit had been the subject of restructuring in advance of the sale, DCC said in a statement. According to the Irish Times, the deal excludes the freehold of a distribution centre in Burnley in England, which is to be sold separately and estimated to be worth £50 million.

MSD Accountants bought by DJH Accountancy Group

MSD Accountants, a Dublin-based practice with a team of 30, has been bought by the British professional services group DJH. DJH, which is backed by the private-equity investor Tenzing, says it is aiming to become one of the UK’s top 20 accountancy and professional services firms. James Beardmore, its chief operating officer, said: “Dublin is one of the most significant financial hubs in Europe, with a strong economy, favourable corporate tax rate and, post-Brexit, it has become an increasingly attractive access point for UK firms looking to trade with the EU.”

Cube Match acquires a stake in DVCP

Global consultancy firm CubeMatch, with its HQ in Dublin, has expanded its presence in Britain with the acquisition of professional services company DVCP. CubeMatch specialises in change and transformation for the financial sector, and DVCP is its second strategic acquisition this year, following the acquisition of a stake in German consultancy BGK in April. The latest deal represents a major expansion of CubeMatch’s presence within the British financial services sector.

Ekco acquires Adapt IT

Ekco, one of Europe’s leading security-first managed service providers, has announced that it has acquired Adapt IT, a Cork-headquartered IT managed service provider. The new deal, which is Ekco’s sixth acquisition in two years, brings Ekco’s total acquisition investment to €57 million within this timeframe.

In summary:

A hot month by any standards. Between the biggest deal to ever live and the mercury rising like it’s never risen before, anyone hoping for a quiet month will likely have been left sorely upset. Thankfully, the French are at it again to make everything seem so insouciant… Though their month off from just about everything is typically August, it seems one Frenchman was celebrating early, by lighting his cigarette from French war memorial flames. Legal action might be coming, but fumer is forever.

In other news, American actress Sydney Sweeney is inciting political division for wearing jeans, Mrs Doyle is going to Fair City, and the Dublin Horse Show is on for anyone still fancying a schmooze this summer. It’s all go, really. For those of us stuck in the office, may I interest you in what I’ve been fantasising over via the internet the past few weeks? The runners and riders of the upcoming presidential election. Could it be B-B-Bertie, or perhaps Lord of the Dance himself? Either way, we know two things to be true. Dana will find herself in there somewhere, and it won’t be McGregor.

Thanks for reading, and see you next month!

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