1. President Catherine Connolly is inaugurated

Catherine Connolly is officially the tenth President of Ireland after her inauguration ceremony at Dublin Castle earlier this month. The ceremony was attended by members of the Government, former presidents, the judiciary, the First Minister of Northern Ireland as well as ambassadors and religious leaders.

On a day of pomp and celebration, the 68-year-old former barrister said that as Ireland’s 10th president, she would ensure “all voices” were heard and would promote climate action, tolerance and a Gaelic revival.

2. COP 30 summit

COP30 was held in Belém, Brazil, this month, and focused on accelerating climate action implementation with key outcomes including renewed commitments to transition away from fossil fuels, initiatives to tackle organic waste and methane emissions, and a renewed focus on water as a cornerstone of climate policy.

The conference also highlighted themes like climate, biodiversity, and Indigenous rights, and saw the launch of new plans to support sustainable agriculture, freshwater access, and a “Jobs & Skills for the New Economy” initiative.

The summit was a reality check on just how much global consensus has broken down over what to do about climate change, named a ‘COP of truth’ by many. At it, the future of COP itself was also called into question, with many suggesting the idea of flying thousands in from around the world to discuss climate action as nonsensical.

3. Paschal Donohue fled the governmental nest for the World Bank

Minister for Finance Paschal Donohoe resigned this month from his role in Government to take up a position at the World Bank. In a statement, Donohoe confirmed that he was “departing from public life” in Ireland and resigning as Minister for Finance “effective immediately”. He confirmed that he would also stand down as a TD for Dublin Central.

He soon after took up the second most senior position in the World Bank, as Managing Director and Chief Knowledge Officer. The organisation’s president is Ajay Banga, and the bank provides low-interest loans to developing countries.

4. Ireland’s services sector hits 3-year high

This November saw a rebound in Ireland’s services sector, which accelerated at its fastest pace in three-and-a-half years, according to a new survey. The AIB Ireland Services Business Activity Index climbed to 58.5 in November from 56.7 in October, the fastest rate of growth in the sector since May 2022. PMI readings above 50 indicate growth in activity.

The biggest expansion was in financial services, followed by technology, media and telecoms. Transport, tourism and leisure saw the first increase in activity since February.

5. US tariffs haven’t hit just yet, but are looming, according to IFAC

Most of Ireland’s big corporate taxpayers have, so far, escaped the direct impact of US tariffs, but American trade policies have made the outlook for this critical source of government revenue increasingly uncertain, according to the Irish Fiscal Advisory Council.

They noted on Wednesday that the pharmaceutical and technology sectors, which together represent about 87% of corporate tax payments from US-owned firms, had avoided US tariffs so far. In fact, the watchdog said pharmaceutical exports to the U.S. had benefitted from frontloading, with Ireland’s shipments exceeding the record total for all of 2024 by April, as companies moved to stay ahead of potential trade barriers. It added that the data also pointed to a structural increase in exports of an active ingredient used in weight-loss drugs, boosting short-term corporate tax receipts.

However, IFAC warned the sector’s outlook remained “very uncertain”.

6. Inflation & Employment 

Regarding inflation, the EU Harmonised Index of Consumer Prices for Ireland is estimated to have risen by 3.2% in the 12 months to November 2025 and fallen by 0.2% since October 2025. This compares with inflation of 2.8% in Ireland in the 12 months to October 2025 and an annual increase of 2.1% in the HICP for the Eurozone in the same period. “The latest flash estimate indicates that prices for consumer goods and services in Ireland are estimated to have increased by 3.2% in the past year,” Anthony Dawson, Statistician in the Prices Division, commented on the data. “Food prices are estimated to be unchanged since last month and increased by 4.2% in the last 12 months. Transport costs have grown by 0.1% in the month and rose by 3.0% in the 12 months to November 2025.”

As per unemployment, the seasonally adjusted unemployment rate was 4.9%, down from 5.0% in October 2025. On an annual basis, the unemployment rate increased from 4.2% in November 2024 to 4.9% in November 2025.

7. Record-breaking rainfall makes November one of the wettest on record

November 2025 was the fifth wettest November in 85 years of records for Ireland, Met Éireann has shared. The national gridded average rainfall of 189mm made November the fifth wettest in 85 years and 136% of its 1991-2020 long-term average.

The wettest November was in 2009 (278.8 mm), and the driest was in 1942 (33.2 mm). Of the top 10 wettest Novembers, four have occurred since 2001 (highest first 2009, 2015, 2002, and 2025).

8. M&A’s November 2025

This month included:

Tara Financial Planners acquired by Gallivan Financial

Kerry-based Gallivan Financial has acquired Dublin-based Tara Financial. It is the fifth new business that the financial planning and wealth management firm has acquired in the past two years.

Genesis Automation acquired by Diversis Capital

Cork-based company Genesis Automation Healthcare is merging with two US tech firms, Kermit and Meperia, as part of a multimillion-dollar acquisition by US private equity firm Diversis Capital. The combination aims to create a larger, more competitive healthcare technology company by integrating its complementary technologies for the healthcare supply chain.

Blackwell Associates acquired by Medmark Occupational Health

Medmark Occupational Healthcare has acquired Blackwell Associates. (Deal consideration was not disclosed.) Medmark’s acquisition signals a strategic move into Northern Ireland, expanding its footprint beyond its existing practices across major Irish cities. By taking over one of Northern Ireland’s leading occupational health providers, the firm broadens its geographic reach.

BHSM LLP merges with OBH Partners

Irish-owned law firms BHSM LLP and OBH Partners have announced that are to merge this December. The new firm, to be known as BHSM LLP incorporating OBH Partners, will be based at BHSM’s office at 76 Baggot Street Lower, Dublin 2. It will comprise 70 legal professionals, including 40 solicitors.

In summary…

There’s something about the festive season that turns everyone a bit feral, isn’t there? Whether it’s the chaos of Christmas parties or the darker evenings, it can turn even normally drab office workers into frenzied festive hams. Before the hangovers take them down a peg, naturally.

Meanwhile, a new day is dawning. And with it, a new suite of content from Fitzgerald Power. As such, this means that this Lessons column will be our last. Thank you for all the joy, reading and (hopefully) learning we all took from this, and looking forward to seeing you on the flip side with lessons, albeit in a different format, new.

And, hey, we’ll always have Paris. Here’s to a happy festive season and a brilliant new year!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

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1. Ireland increased its R&D tax credit rate.

Early in the month, it was announced by Finance Minister Paschal Donohoe that Ireland will increase the rate for its research and development tax credit, the very same one that is mainly used by foreign multinationals, to 35% from 30%. In the same announcement, Donohoe also committed to publishing a plan in the coming weeks, which will consider additional targeted changes to the regime, including potentially in the areas of outsourcing and qualifying expenditure definitions.

The relief allows businesses undertaking research in Ireland to claim back a percentage of the total costs of their activities in cash or against their corporation tax bill in annual instalments. Donohoe, a Fine Gael TD, went on to say that Government support for R&D activities is “critical to Ireland’s continuing competitiveness in a challenging global environment”.

2. FP’s Budget 2026 Report.

The new Budget came to town this month, an enlightening time for all in our industry. Fitzgerald Power Taxation Partner Brian Kelly drafted his own report for those looking for a complete rundown. Want a flavour? “Budget 2026 marks a shift in policy towards supporting business and enterprise, moving away from the cost-of-living measures that defined previous budgets,” he wrote.

“This shift comes as Irish SMEs face not only domestic challenges but also heightened international tax risks, particularly the introduction of new US tariffs on EU goods. These external pressures add uncertainty for exporters and supply chain-dependent businesses, making the government’s business-focused approach especially timely.”

Read the full report, for free, here.

3. All-island Apprenticeship for Certified Accounting Technologists launched.

In a landmark moment for education and cross-border cooperation, the first-ever all-island apprenticeship programme has been launched, marking a new chapter in how the island of Ireland develops talent for the future. The Accounting Technologist Apprenticeship, developed by ATI and delivered jointly by Technological University of the Shannon and The Open University in Northern Ireland, will “equip learners with cutting-edge skills in digital finance and sustainability, responding to the evolving demands of the sector,” according to the government press release.

Taoiseach Micheál Martin, Tánaiste Simon Harris and Minister for the Economy in Northern Ireland, Dr Caoimhe Archibald, were all there to officially launch the programme, one that they believed would bridge the gap between the traditional Accounting Technician and a fully qualified accountant. “The new All-Island Accounting Technologist Apprenticeship is a major step forward. It enhances our curriculum and prepares learners for the evolving demands of the accounting profession,” Minister Archibald said. “This programme directly addresses the rise of artificial intelligence and the growing need for sustainability reporting – skills now essential for modern accounting professionals.”

4. Inflation & Employment.

The latest flash estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 2.7% in the past year. Food prices are also estimated to have increased by 0.3% in the last month and risen by 4.6% in the last 12 months.

As per unemployment, the seasonally adjusted unemployment rate for all people aged 15-74 years in October 2025 was 5.0%, down from a revised rate of 5.1% in September 2025, and up from 4.2% in October 2024. (In October 2025, the unemployment rate for both males and females was 5.0%.)

5. The IMF released its October ‘25 World Economic Outlook, and the findings are… uncertain.

The global economy is adjusting to a landscape reshaped by new policy measures, so says the International Monetary Fund’s (IMF) World Economic Outlook for October 2025. In it, the fund projected global growth of just 3.2% in 2025 and warned of heightened risks from trade fragmentation and policy uncertainty.

“Risks are tilted to the downside,” it reads. “Prolonged uncertainty, more protectionism, and labor (sic) supply shocks could reduce growth. Fiscal vulnerabilities, potential financial market corrections, and erosion of institutions could threaten stability.”

Read in full here.

6. The first stage of a cease-fire deal between Israel and Hamas was approved.

On the 10th of the month, the first step in achieving a ceasefire in the Gaza-Israeli war was approved. According to analysts, the move was pushed on the Israeli side in an attempt to repair its image abroad following the two-year conflict. To date, the ceasefire is almost a month old, but reports say there is still fighting along the yellow line “almost every day”.

7. The Reuters Gulf Currents newsletter drops.

The team at Reuters launched their Gulf Currents newsletter this month. Headed up by excellent journalists, the aim is to break news on the region’s most important stories, geopolitical or otherwise. This month’s main offering came from Riyadh, where Saudi Arabia has just concluded its annual flagship investment event, the Future Investment Initiative (FII) conference. It also touched upon the new, homegrown Humain AI company and expansion plans for the company behind Riyadh’s Diriyah, Saudi Arabia’s Vision 2030, much, much more.

For the latest on geopolitics, energy and finance in the region. Sign up here.

8. Hurricane Melissa ravaged through the Caribbean and Atlantic.

The scale of the devastation left behind by Hurricane Melissa is only now becoming clear after the record-setting storm tore through Jamaica, Haiti and Cuba, leaving at least 34 people dead, according to the BBC. Despite being downgraded from a category five to a category two storm, the hurricane sustained winds of 298km/h (185 mph) at its peak, making it stronger than Hurricane Katrina, which devastated New Orleans in 2005, killing 1,392 people.

​​Across the wider Caribbean, homes and buildings were torn apart, trees were uprooted, and thousands were left without power. In Jamaica, the impact was most severe in the southwestern parish of St Elizabeth, where “knee-deep mud and washed-out bridges” left towns cut off.

9. M&A’s

This month included…

Energia Group acquired by Ardian

As per the Irish Times, Energia Group’s owner, US investment firm I Squared, has agreed to sell the Irish power company to French private equity firm Ardian. The transaction is expected to be completed in the first quarter of next year, subject to customary regulatory approvals, I Squared and Ardian said in a joint statement.

Alkermes acquires Avadel Pharmaceuticals

Later in the month, Alkermes and Avadel Pharmaceuticals announced that the companies had entered into a definitive agreement under which Alkermes will acquire Avadel, in a deal valued at up to $2.1 billion. The transaction has been approved by the boards of directors of both companies and is expected to close in the first quarter of 2026.

Sherry FitzGerald acquires Knight Frank Ireland

Commercial property group Knight Frank was acquired by Sherry FitzGerald for an undisclosed sum this month. The deal, which is subject to regulatory approval, was announced by CastleGate, the family office of technology entrepreneur Tommy Kelly, which acquired Sherry FitzGerald in 2022 for a figure reported to be around €50 million.

Alchemy acquired by NTT Data

Derry City-based software consultancy Alchemy Technology Services has been acquired by the Japanese communications giant NTT DATA. Founded in 2018 by John Harkin, Alchemy specialises in digital transformation and consultancy services for the global insurance industry. More details in Irish News.

In summary…

Well, between the Celebrity Traitors, the Andrew formerly known as Prince, the New York Mayor election, the Irish presidential election and everything else… It’s been quite a month for chaos. Perhaps nowhere more than in Fianna Fáil, where the Taoiseach has been picking up the pieces following the Jim Gavin debacle that cost the party the presidency. (Quick reminder to landlords out there: keep your friends close and your repayments to old tenants closer.)

There’s also been somewhat of a shake-up at RTÉ, with Claire Byrne, Joe Duffy and Ray D’Arcy leaving in quick succession, and fresh blood like Kieran Cuddihy entering the fray. Following nearly a full year of scandals, a number of which were centred on Ryan Tubridy, RTÉ has entered a new era, one focused on change and, sadly, an axed documentary department.

Finally, for those who thrive in chaos, Christmas is just around the corner (or if you’re Brown Thomas, it arrived some time ago.) Presuming the hottest toy for preteens is still prescription-strength makeup, you now officially have six weeks to get your excuses together. As for those looking to satiate the needs of the Labubu crowd, may God have mercy on your souls.

See you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

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1. Irish inflation hit a 20-month high.

New data released on Tuesday found inflation, when measured using the EU Harmonised Index of Consumer Prices (HICP), rose by 2.7% in the 12 months to September, up from 1.9% in August. While food prices fell marginally on a monthly basis, down 0.2% compared to August, they rose by 4.7% over the last 12 months. Meanwhile, energy prices, which also fell on a monthly basis, were up by 1% compared to September 2024.

Speaking on the figures, CSO statistician Anthony Dawson said while annual inflation has risen, it should be noted that prices between August 2024 and September 2024 fell by 0.8%. “The low base in September 2024 has had an impact on the annual change of 2.7% in the year to September 2025,” he said.

2. A looming 100% pharma tariff caused alarm for the pharmaceutical industry.

US President Donald Trump said that from October 1, there will be a 100% tariff on imports of branded or patented pharmaceutical products, unless their manufacturer is building a factory in America. He shared this on the social media platform Truth Social, stated that the word building would be “defined as ‘breaking ground’ and/or ‘under construction’”. In other words, another terrifying day for his legal team.

This move challenges an existing EU-US agreement that capped such tariffs at 15%. The European Commission quickly pointed out that the Trump administration has previously promised to limit any pharma tariffs to 15%. The Tánaiste, Simon Harris, said the deal is “absolutely clear” on that point. However, there was a considerable lack of detail in the announcement on Truth Social. As Louise Kelly of Deloitte Ireland points out, “there is no reference to existing trade agreements in President Trump’s post. So, confirmation from the US that it agrees with the EU position is something we’ll be waiting for.”

3. 54% of Irish workers now view AI skills as career-enhancing, with turnover and demands for flexibility both rising sharply.

New insights from Microsoft Ireland reveal Ireland’s workforce is navigating a period of transformation: the Microsoft Ireland Work Trend Index 2025 is based on a nationally representative survey of 1,000 Irish workers, conducted annually as part of a general population study, ensuring a demographic balance year-on-year. The results show that AI is emerging as a career catalyst, while job turnover hits a record 38%, according to the respondents who took part in the survey, while workplace satisfaction trends marginally downward.

With AI adoption up 27% year-on-year, 41% of workers say it helps them work smarter, 50% believe AI skills are critically important to remain competitive in the job market, while 54% say having these skills will broaden their job opportunities. Additionally, 40% believe knowing how to use AI at work will help them get promoted faster, and 34% say AI has made them consider other career paths. Yet, this optimism is tempered by uneven access and training gaps, with over half of workers calling for structured or employer-led AI training to help speed adoption.

“Ireland is at a turning point. As AI transforms the world of work, Irish employees and employers are navigating rapid change and new opportunities,” Catherine Doyle, general manager of Microsoft Ireland said. “The message from workers is urgent and clear: they want the tools, support and skills to adapt. Organisations that embrace AI and invest in inclusive training will be best placed to lead in productivity, innovation and resilience.”

4. In an op-ed, Irish Funds urged urgent reforms to preserve Ireland’s competitiveness in global asset management.

In a piece in this month’s Business Post, Irish Funds CEO Pat Lardner highlighted why urgent action is needed to ensure Ireland’s funds and asset management sector stays ahead of the pack. Key areas requiring action include boosting private market investments, modernising the regulatory framework, leveraging technology for innovation, and enhancing financial literacy for retail investors. “Ireland has established itself as a trusted global hub – but with intensifying competition and fast-growing opportunities, we must act now to safeguard competitiveness, unlock investment, and support growth across the economy,” it read. “The sector already supports tens of thousands of highly skilled jobs across the country — from Dublin to Cork, Limerick, Kilkenny, Galway, Wexford and beyond – making its continued success vital.”

This message aligns with Irish Funds’ ongoing engagement with government stakeholders and the priorities outlined in their Pre-Budget 2026 submission, which focuses on unlocking new opportunities to drive long-term competitiveness and growth. To remain competitive, Lardner says. Ireland must implement targeted regulatory and tax changes as well as quickly transposing key EU legislation to create a level playing field. Ireland has the talent, infrastructure and track record, he concludes. He says what we need now is “the policy certainty and momentum to match.”

The article in full can be found here.

5. Inflation & Employment.

As mentioned, inflation hit a 20-month high this month. When looking at the components of the flash HICP for Ireland in September 2025, energy prices are estimated to have declined by 0.3% in the month and grown by 1.0% over the 12 months to September 2025

In September 2025, the seasonally adjusted unemployment rate was 4.7%, unchanged from August 2025. Breaking down the results by sex, the monthly unemployment rate for males in September 2025 was 4.8%, down from 4.9% in August 2025, and up from a rate of 4.1% recorded in September 2024. The monthly unemployment rate in September 2025 was 4.5% for females, unchanged from August 2025, and up from 4.2% in September 2024.

6. Barack Obama embarked on a speaking tour, visiting London and Dublin.

A little bit of a pivot from Moneygall and the Obama Plaza, former President Barack returned to this side of the world to discuss current global challenges with prominent journalists, like Fintan O’Toole. While in Dublin, Obama was awarded the Freedom of the City by Lord Mayor Ray McAdam at a ceremony in the Shelbourne Hotel. Obama was presented with a first edition of Ulysses and a bottle of Teeling Whiskey. He said he accepted the honour with “deep humility”.

“These are, undoubtedly, times of great challenge and great change. But it is in moments like these that we are reminded of who we truly are. We are people, the Irish and Americans, who never stop imagining a brighter future for us all,” he said, according to the BBC. “That defiant, enduring hope has always been an unshakeable bond that connects our two countries, and so many others around the world.”

7. Europe won the Ryder Cup.

A big month for golf fans as Team Europe secured a historic 15–13 victory over the US at Bethpage Black, marking their first away win since 2012. The triumph was ushered in by Shane Lowry, whose decisive putt ended a nail-biting finish. Sky Sports reported a record-breaking 8.8 million viewers for the weekend, but by far and away the biggest story from it, however? Hostile crowds who threw beer cans and hurled insults at the players. McIlroy and Lowry, in particular, received crude barbs at Bethpage, with Lowry having to be restrained from confronting a fan on the 10th tee. McIlroy, who was forced to back away from shots, described the whole experience as a “really challenging day”.

8. Ireland experienced its warmest summer on record.

In news that will surprise no one, Ireland’s summer was hot(ter than ever). Human-caused climate change made warm summer nights 40 times more likely, according to a study by Met Éireann and Maynooth University.

Other key findings include:

– Climate change has increased the frequency and intensity of extreme weather events.
– Climate change is adding fuel to storms due to warmer waters and more moisture in the atmosphere.
– Irish rainfall patterns are expected to change, with an increase in both dry periods and heavy rainfall events.
– There is high confidence that maximum rainfall rates will increase due to a warmer atmosphere carrying more moisture.
– As climate change continues to drive global temperatures upwards, similarly warm summers are set to become more likely and average temperatures are set to increase yet further.

9. M&As.

Here are some of this month’s highlights:

Eversheds Sutherland integrated its Ireland practice into its international business

This happened as part of its strategic goal to build market-leading capabilities in key jurisdictions. Effective from 15 September 2025, the practice in Ireland will see an initial 26 partners and 170 colleagues join the International firm as a financially integrated practice with offices in Dublin and Belfast.

F5 acquires CalypsoAI

Early in the month, F5 announced an agreement to acquire CalypsoAI for approximately USD $180 million, with the deal closing officially on September 29. The deal will be primarily financed with cash, and according to F5, it is expected to have a minimal impact on revenue and operating results in the short term. The transaction integrates CalypsoAI’s enterprise-ready “test–defend–observe” stack into the F5 Application Delivery and Security Platform (ADSP), to protect applications, APIs, as well as models and agents.

HealthPoint Pharmacy Group expands

HealthPoint Pharmacy Group has completed the acquisition of four new pharmacies: Farrell’s Pharmacies in Ballivor, Longwood, and Trim, and O’Donovan’s Pharmacy in Tullamore.
This brings the Group to 11 pharmacies across the Midlands and East, with a strong pipeline of additional stores preparing to join in the near future. HealthPoint’s vision is to double in size by 2030 while staying true to its motto: “Family Pharmacies. One Trusted Name.”

Cornmarket buys Marsh Ireland’s personal lines insurance business

Public sector financial services broker, Cornmarket, has bought Marsh Ireland’s personal lines insurance business. Cornmarket currently works with over 40 public sector trade unions, associations and employers and has over 50 years of experience in the Irish insurance market. According to RTÉ, it said its latest acquisition supports its long-term growth strategy by expanding its presence in the personal lines insurance sector, while it also enhances its ability to serve its existing 240,000 public sector customers, as well as broadening its customer base across Ireland.

In summary…

There’s a lot to be said for September, really. Most will link it with a fresh start – be it a time to buy fresh copybooks or a minute to breathe as the summer closes in. A number of people haven’t had a minute to breathe, however. There’s Chloe Malle, the new editor of Vogue, Keir Starmer, a man set to be the least popular prime minister of all time, and of course, Ireland’s fresh crop of presidential hopefuls – a number of whom are right in the thick of their respective campaigns.

For a contest that started with McGregor, continued with an onslaught on Garth Sheridan and came close to an end with a naive Joanna Donnelly, it appears that the drama has not finished just yet: Jim Gavin has been dealing with a number of smears against his name, (subsequently exiting the race due to his renting scandal), and Heather Humphries has been routinely quizzed about animal abuse and her alleged connections with it, fox-hunting chief amongst them, but has yet to give an answer. At present, Catherine Connolly is winning by a whisker, but will that change by the next time we chat? Only time will tell.

What won’t change, however, is that generational pintman and lovable athlete Shane Lowry won it for Team Europe. At a time when stakes were high and morale was low, Lowry cast aside the dogs abuse he and his team received from the spectators to sink the all-important putt to retain the Ryder Cup. Now, if that isn’t a guide to how to be presidential, I’m not quite sure what is.

See you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of September appeared first on Fitzgerald Power.

1. Handbrake up on the service sector.

According to Reuters, and driven by a new survey, Ireland’s service sector hit its weakest growth in 19 months in August as employment and outstanding business contracted while input costs increased. The AIB Global S&P Purchasing Managers’ Index slipped to 50.6 in August from 50.9 in July; however, it still held above the 50 level, which indicates growth. That was marginally weaker than the average for the services sector in the wider euro zone, which slipped to 50.7 in August from 51.0 in July, according to a preliminary reading.

Employment in the sector also decreased for the first time since January, with the sharpest cuts in Transport, Tourism & Leisure, followed by Financial Services. “Despite weak current activity levels, firms in the Irish services sector remained optimistic on the prospects for expansion in activity levels over the coming 12 months,” AIB Chief Economist David McNamara said in a statement, citing hopes for new products and technologies and for an economic recovery.

2. Despite this, Irish consumer sentiment cautiously climbs.

Irish consumer sentiment recovered from a near two-year low this month as concerns about the impact of tariffs on EU exports to the US appeared to ease, a survey showed on Tuesday. The Credit Union Consumer Sentiment Survey improved to 61.1 in August from 59.1 in July. (The reading is below the 72.1 level posted in August 2024 and far lower than the long-term survey average of 83.8.)

As we all know well, Ireland is among the countries most exposed to President Donald Trump’s sweeping economic policies, with a significant proportion of employment, tax receipts and exports relying almost solely on a cluster of US multinationals. But a late July deal that set a 15% tariff on most EU exports to the US fell well short of widely feared worst-case scenarios and appears to have reduced uncertainty among Irish consumers, the survey’s authors said in a statement.

3. The runners and riders for the Irish Presidency are a-go.

It has been a wild month for the entire island of Ireland as presidential hopefuls have really made themselves known. “The ball is thrown in,” declared Heather Humphreys, using GAA parlance, as she was set to battle Seán Kelly, former president of that organisation, for the Fine Gael nomination. However, he swiftly announced his withdrawal soon after.

Gareth Sheridan is still battling the media despite regular and brutal blows, and the most publicised addition was none other than Met Éireann’s Joanna Donnelly, who withdrew from consideration within days following some, as she put it, “naive” input. Most surprisingly, still, Bertie Ahern has also withdrawn. With just weeks to go, we can only imagine what the next month holds for all of us. May God have mercy on us all.

4. Chartered Accountants Ireland speaks up on market diversification plan.

Chartered Accountants Ireland has publicly backed the government’s newly released Action Plan to Support Market Diversification. “The extensive nature of the plan, which includes more than 100 actions, underscores the significant challenges ahead and the necessity for a unified national approach,” as per advocacy director Cróna Clohisey, who went on to state that Irish businesses are currently facing “unprecedented” challenges due to US tariffs. The initiative also reaffirms a commitment to bolstering indigenous enterprises, which the institute supports.

Many of the group’s 40,000 members are also actively involved with Ireland’s SMEs. “While foreign direct investment continues to constitute a key part of Ireland’s economic mix, these home-grown businesses (particularly SMEs) form the backbone of the Irish economy. Ensuring they are equipped to diversify, innovate and compete internationally should rightly now be a primary policy objective,” Clohisey stated.

A survey conducted by Chartered Accountants Ireland in May 2025, in collaboration with GRID Finance, went on to reveal that many SMEs find existing government support initiatives either too time-consuming or resource-intensive to access, resulting in lower-than-expected uptake. “While the breadth of support is positive, further steps need to be taken to ensure that business reliefs are not overly complex or difficult to claim. Simplifying application processes and reducing administrative burdens will be key to ensuring that any new supports reach the businesses that need them most,” Clohisey concluded.

5. Inflation & Employment.  

As per the CSO’s latest review, the EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 1.8% in the 12 months to August 2025 and risen by 0.3% since July 2025. This compares with HICP inflation of 1.6% in Ireland in the 12 months to July 2025 and an annual increase of 2.0% in the HICP for the Eurozone in the same period.

Examining the components of the flash HICP for Ireland in August 2025, energy prices are estimated to have decreased by 0.3% in the month and by 0.1% over the 12 months to August 2025. Food prices are estimated to have risen by 0.4% in the last month and by 5.0% in the last 12 months.

Ireland’s labour market showed mixed signals in August 2025. The overall unemployment rate dipped slightly to 4.7%, down from July’s figure but still higher than the 4.1% recorded a year ago. Male unemployment eased to 4.9%, while the female rate dropped to 4.5%, both edging lower month-on-month yet remaining just above last year’s levels. Youth unemployment stood at 11.9%, a small improvement on July’s 12.1%, while the rate among adults aged 25–74 slipped to 3.6%. The figures suggest a market that’s holding steady, though not without pressure compared to 2024.

6. UN declares famine in Gaza.

More than half a million people in Gaza are trapped in famine, marked by widespread starvation, destitution and preventable deaths, according to a new Integrated Food Security Phase Classification analysis released this month. The Food and Agriculture Organisation of the United Nations, UNICEF, the United Nations World Food Programme and the World Health Organisation all collectively agreed on this, highlighting the extreme urgency for an immediate and full-scale humanitarian response given the escalating hunger-related deaths, rapidly worsening levels of acute malnutrition and plummeting levels of food consumption, with hundreds of thousands of people going days without anything to eat.

Classifying famine means that the most extreme category is triggered when three critical thresholds – extreme food deprivation, acute malnutrition and starvation-related deaths – have been breached. The latest analysis now affirms, on the basis of reasonable evidence, that these criteria have been met.

7. Fashion retailer Claire’s collapses into administration in the UK and Ireland.

Claire’s, a fashion company seen on most Irish and British high streets, has announced plans to appoint administrators amid plummeting sales and intensifying competition from online retailers. The US-owned fashion chain, which operates approximately 300 stores across Britain and Ireland, confirmed that insolvency specialists from Interpath Advisory are being brought in to assess the company’s future. This development follows Claire’s filing for bankruptcy protection in the United States just last week.

At present, stores will continue to trade. As per CEO Chris Cramer, “In the UK, taking this step will allow us to continue to trade the business while we explore the best possible path forward.”

Interpath’s chief executive, Will Wright, noted that the brand, best known for its trend-driven accessories and ear piercing services, still holds strong recognition in the UK market. “Over the coming weeks, we will aim to keep stores operating as a going concern while evaluating strategic options, including a potential sale that could secure a future for this well-loved retailer,” Wright said.

8. Ireland’s hottest summer on record.

With an average temperature of 16.19°C, summer 2025 became Ireland’s warmest since records began, surpassing 1995’s benchmark. August alone was the fourth-warmest August on record.

It is the third successive summer month to have been among the warmest on record in Ireland; June was the fourth warmest on record, while July was the ninth. When final figures are collated, the summer of 2025 is likely to be among the warmest since records began.

9. M&A’s.

Some 106 mergers and acquisitions were completed in the Irish market in the second quarter of this year, with a combined deal value of €3.3 billion, according to data from Davy. Figures from the stockbroker highlighted 217 deals (up 10% year on year) in the first six months of this year. And although the second quarter traditionally outstrips the first, the 2025 statistics show it was marginally lower. This was likely due to headwinds around “trade tariff policy uncertainty and its impact on the overall macro picture, impact on certain sectors and in investment decisions, including M&A”, the Davy report said.

As for recent additions…

Basalt Infrastructure acquires Chemco Ireland

Chemco Ireland’s founders have agreed to a takeover by funds advised by London-based Basalt Infrastructure Partners. Chemco primarily serves the semiconductor, pharmaceutical, food and industrial sectors in Ireland, providing specialist chemical logistics, storage and distribution services. The company, which is based close to Dublin, has long-term contracts in place with clients and plays a critical role in their supply chains.

Dawn Meats agrees deal with New Zealand’s Alliance Group

Dawn Meats has announced a deal to acquire a majority stake in New Zealand meat producer Alliance Group. The Waterford-headquartered firm will take a 65% stake in the business as part of a €127.7m investment. Alliance is New Zealand’s largest processor and exporter of lamb, and operates six processing plants in the country. It is owned by about 4,300 shareholders.

Beechwood Partners acquired by S&W Ireland

Professional services group S&W has agreed to acquire Beechwood Partners, a Dublin-based company that provides accountancy and tax advisory services. Beechwood’s 35 staff and partners will join S&W Ireland, which currently employs more than 80 people in Sandyford. S&W has more than 1,850 employees and over 120 partners in the UK and Ireland.

Abry Partners moves to buy AA Ireland

Abry Partners, a Boston-headquartered investment firm, is to take a majority stake in AA Ireland as the roadside assistance and insurance broker gears up for a third change in ownership in just under a decade. Abry, a mid-market private equity firm, has a strong track record in acquiring insurance and financial services business, taking a minority stake just last month in Oracle Risk Management Services, an American general insurance broker. In recent years, it has been expanding in Europe via its London office, taking a majority stake this year in Burgess Hodgson, an accounting and business services firm serving small and medium-sized enterprises.

In summary…

There’s something about an Irish Presidential election that turns everyone a bit feral, isn’t there? Whether it’s the proverbial bowl of shamrocks or the thought of living in Ireland’s best gaff, it sends even mere mortals into a bit of a frenzy, before the Irish press takes them down a peg. The question on most people’s lips about it, however, is: will Fine Gael do it?

In other news, Trump is alive. Despite rumours that he has perished – he hadn’t been seen in two days, and reportedly pizza orders soared from only restaurant that stays open past midnight near the Pentagon this week, a metric which usually indicates a crisis – he returned to the pulpit this week to discuss none other than Rocket City, Alabama and how he thinks Biden is an old, unhealthy man. Business as usual, then.

Finally, for those uninterested in the treacherous and often heinous world of politics, The Traitors Ireland is here! So far, we’ve seen a Garda, a prison officer and several content creators duke it out over the chance of winning €50,000. Seemingly, they’re all looking to buy a house with the loot, and make a show of themselves on national television for it. And despite its similarities to Dáil Éireann, the carpet is red and not blue.

Thanks for reading, and see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of August appeared first on Fitzgerald Power.

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!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of July appeared first on Fitzgerald Power.

1. Economic peaks and troughs.

Ireland’s GDP jumped a remarkable 9.7% quarter-on-quarter in the first three months of this year due to a surge in pharma exports to the U.S. ahead of “Liberation Day” tariffs. With Ireland’s large multinational sector often distorting GDP, officials prefer to use modified domestic demand (MDD) to gauge the strength of the economy, which was up a modest 0.8% compared with the previous three months, according to the Central Statistics Office. This, anyone will tell you, highlights the Irish economy’s reliance on multinationals.

More than a dozen of the world’s biggest pharma companies have plants in Ireland, where many make medicines or active ingredients for the U.S. market and avail themselves of Ireland’s low corporate tax rate. (Fun fact: almost all of the world’s Botox and Viagra are made in Ireland. For whatever Liberation Day means to you.)

2. Budget watchdog forecasts fresh corporation tax surge.

Ireland could be on the brink of another surge in corporation tax, according to the Irish Fiscal Advisory Council (IFAC). But how come? A six-fold jump in corporate tax revenue since 2014, as well as €11 billion of Apple back taxes, makes Ireland’s public finances Europe’s healthiest.

As per Reuters, IFAC is saying a number of factors contribute to this. Including non-implemented OECD-led reforms, a number of corporate taxpayers not being impacted by US tariffs and a 154% year-on-year jump in Irish pharmaceutical exports, with US drugmakers with Irish plants reportedly stocking up ahead of tariffs. Finally, the capital allowances some firms used when they moved intellectual property assets to Ireland could potentially add “billions” of euros in the coming years, IFAC chair Seamus Coffey added. “We don’t see it, but it doesn’t mean it’s not there. That’s down to the profitability and decisions these companies make.”

3. When Irish fintech is smiling.

It’s all comin’ up Irish fintech, as funding reached around €238 million in 2024, marking a 291% increase and positioning Ireland as Europe’s standout fintech hub. This proves especially impressive in a year when fintech funding hit a seven-year global low. According to KPMG’s Pulse of Fintech report, global investment in the sector fell from $119.8 billion in 2023 to $95.6 billion in 2024. Yet, as per fintechweekly.com, Ireland’s fintech firms raised nearly $238 million across 25 deals – a 291% increase from the previous year.

Ireland’s numbers matter as they mark a significant vote of confidence in the country’s evolving financial technology sector. And while part of the 2024 spike can be attributed to recovery from a soft 2023, analysts suggest that the story tells more of a story about how Irish fintech companies are maturing.

4. Central Bank cautions about U.S. trade policy.

The Central Bank has warned Ireland’s economists that uncertainty could be afoot as a result of changing U.S. policy that could see its economy grow much more slowly than previously expected. As per the Wall Street Journal, the Central Bank’s quarterly outlook cautions that Trump’s tariffs would have a significant impact on economic growth over the coming years. The hope is, however, that Ireland won’t be pushed into a lengthy contraction.

“Ireland is experiencing, and can be expected to further experience, the fallout from changing geo-economic relationships and priorities,” said Robert Kelly, director of economics at the Central Bank of Ireland.

5. Inflation & Employment.

Just last week, the CSO published the flash estimates of inflation from the EU Harmonised Index of Consumer Prices (HICP) for Ireland for June 2025. As per the data, prices for consumer goods and services in Ireland are estimated to have increased by 1.6% in the past year, with energy prices estimated to have decreased by 0.2% in the month, and fallen by 1.8% since June 2024.

As you may have already been suspecting, food prices are estimated to have grown by 0.3% in the last month and increased by 4.3% in the last 12 months. Joining this is transport; costs rose by 1.2% in the month, despite decreasing by 2.0% in the 12 months to June 2025.

Monthly unemployment remains positive: 4.0% for males, unchanged from the revised rate in May 2025, and down from the rate of 4.4% recorded in June 2024. And 4.0% for females, down from a rate of 4.1% in May 2025, and from a rate of 4.4% in June 2024. Overall, the monthly unemployment rate for people aged 25-74 years was 3.0%, unchanged from the revised rate in May 2025.

6. War in the Middle East shows no signs of slowing.

Despite near-constant talk of a ceasefire, a near-constant stream of fighting still seems to be taking place. This month, a 12-day war between Israel and Iran saw U.S. airstrikes on Iranian nuclear sites and Iranian missile retaliation, including a strike on a U.S. base in Qatar, raising fears of wider regional conflict. In the first few days of July, Iran’s Foreign Minister Abbas Araghchi warned that if Israel was not held accountable for its attack on Iran, “the whole region and beyond will suffer”.

“The US-Israeli attacks on our nuclear facilities were in stark violation of NPT [the Nuclear Non-Proliferation Treaty] and the UNSC Resolution 2231 that has endorsed Iran’s peaceful nuclear programme in 2015 by consensus,” Araghchi said in a speech at the BRICS summit in Brazil, cited by state-run Press TV. “The US’s subsequent involvement in this aggression by targeting Iran’s peaceful nuclear installations has left no doubt as to the full complicity of the American government in Israel’s war of aggression against Iran.”

7. What’s rare is wonderful.

It would take a rare material to strike a rare deal between the U.S and China, who resolved issues surrounding shipments of rare earth minerals and magnets to the U.S, according to Treasury Secretary Scott Bessent. The move, according to Reuters, ironed out a dispute that stalled a deal reached in May, following, you guessed it, tariff-related backlash.

China retaliated earlier this year by suspending exports of a wide range of critical minerals and magnets, upending supply chains central to a number of industries around the world. However, during trade talks in May in Geneva, Beijing committed to removing the measures to ensure “magnets flow”. The details of the new deal have not yet been shared, but an agreement has been confirmed by Trump. Watch this space.

8. Ireland records its hottest day since 2022.

In a surprise to absolutely no one, this month saw Ireland’s hottest day since 2022. On June 20, Roscommon reached an exceptional 29.6 °C – its hottest day in nearly three years – ushering in a brief mini-heatwave. Values of between 25 °C and 29 °C were recorded in most inland areas of Ireland, while sea breezes kept temperatures down along the south and east coasts. This month, more hot weather is expected amidst showers of rain.

9. M&A’s.

Buckle up…

Moore Ireland merges with HSOC

Cork-based Moore Ireland has completed its second major consolidation this year by merging with Dublin’s HSOC firm, expanding its team from 240 to over 270 employees and strengthening its mid-tier accounting presence.

IT.ie acquires Abacus Systems

Irish managed IT services company IT.ie has announced that it has acquired Abacus Systems, a Dublin-based managed IT service provider, in a seven-figure deal. Following the acquisition, the company is forecasting revenues to exceed its previous target of €8m, reaching €10m by year-end 2025. Its workforce will grow to a team of more than 50, while its customer base will increase by 50% to more than 500 clients.

Cormeo acquires majority stake in medicines.ie

The Irish Pharmaceutical Healthcare Association and Cormeo, the newly established German-based Pharma Tech holding company under Bertelsmann, announces its Venture in the mutual operation of medicines.ie, a trusted information provider of accurate and reliable medicines information. Tobias Beer, COO of Cormeo, explains, “This strategic move allows us to enhance our capabilities and broaden our international reach, supporting our vision of a smart information lifecycle for life sciences and allowing seamless access to vital medicines information for all stakeholders.”

SparksWealth acquires Gallagher Insurances

Irish financial planning and wealth management firm SparksWealth has announced the acquisition of the life and pensions division of Tom Gallagher Insurance Ltd T/A Gallagher Insurances. Gallagher Insurances will continue to serve its general insurance clients independently.

Inspired Corporate Advisory acquired by Ryan

A tax advisory firm jointly led by Tyrone’s two-time GAA All-Star winner Colm Cavanagh has been bought by the Dallas-based global tax giant Ryan. The acquisition of Inspired Corporate Advisory, which has offices in Holywood, Dungiven and London, marks Ryan’s entry into the Northern Ireland market. Inspired describes itself as Northern Ireland’s only dedicated tax firm, specialising in research and development, capital allowances, and patent box incentives.

In summary:

Well, that was a mouthful. A lot has taken place in the four weeks since we spoke to you last, and much of it can be reflected in the weather; extremely hot and then a bit miserable. But, isn’t that life? It’s good until it’s not, and that’s just the way it goes sometimes. June gave us a lot to work with in terms of gossip and chaos. Take the Tattle Life scandal, for example. The anonymous platform where people commented about their favourite influencers without fear of repercussion. When the owner – a man named Sebastian Bond, who used a woman’s name to post his bugbears – was found out by way of a court case, all he wanted was privacy. Go figure. Or take Bezos and how new bride Lauren Sánchez, who took over Venice for their intimate nuptials along with 200 of their closest, private jet-owning friends. Ushering in a new sense of IDGAF energy, the newlyweds have brought with them an energy of “just getting started,” leaving the rest of us a little hot, bothered, and wondering what the right level of cleavage is for a formal two-day event.

Meanwhile, Wimbledon rages on, Trump is still on the golf course, and a ceasefire is still nowhere to be found. In fact, we’re further away now than when we started. Mercifully, we have the Lions, Saipan the movie and the growing fear of who will follow Miggedly to distract us. Could it be Bertie? Or Joe Duffy? Or God forbid, worse. For anyone interested in the ceremonial gig, I believe they’re taking entries via DMs to Cork GAA’s Instagram. Just message “gowl” and we’re pretty sure you’re in the pot.

Thanks for reading, and see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of June appeared first on Fitzgerald Power.

1. Dublin hosted the inaugural Tech Week, May 23 – 30.

First things first, Dublin launched its inaugural Tech Week. One can imagine it was largely influenced by Web Summit, the now-infamous meet-up of tech moguls, young and old. However, Dublin’s Tech Week seemed to go off without a hitch. The programme, which included Smart Dublin’s ‘The Connective Detective’ – build your own smart city; ‘All We Feel is How it Moves’ – a live audiovisual work driven by real time data at the Hugh Lane Gallery; a session on the Cultural Audit and Culture Near You Map by the Dublin City Council Culture Company as well as a number of key note speakers such as Sarah Friar, CFO of Open AI, the event kickstarted what is destined to be a well-lauded and attended event. See you next year? Almost certainly.

2. The Real Deal 2025.

Speaking of large-scale events, we were involved with our own annual summit this month: The Real Deal 2025. In partnership with Renatus and Bank of Ireland, The Real Deal is Ireland’s premier annual event for SME owners and management, which sees people come together from all over the country to connect and share ideas. Unique, light-hearted and genuinely beneficial for tips, networking and expert-led commentary, this year’s edition was one of our best, if we do say so ourselves. The highlight? Our trusty steed and MC Matt Cooper having a one-on-one discussion spotlighting the extraordinary journey of our headline speaker, Jimmy Martin, Co-Founder and CEO of AMCS Group. Jimmy is one of the quiet heroes of Irish tech and business, and, in 2024, global private equity giant EQT acquired a majority stake in the Limerick-based firm. It’s rare to find someone, especially in Ireland, who has founded and led a company to a true multi-billion euro scale. Raging you missed it? Keep an eye on the event page to book in for 2026: https://therealdealevent.com/

3. SMEs Face Rising Costs Amid Economic Uncertainty.

A survey by Chartered Accountants Ireland and GRID Finance reveals that 77% of Irish SMEs have experienced increased costs over the past six months, with staffing expenses being the primary concern. Additionally, only 40% feel prepared for the upcoming auto-enrolment pension scheme set to launch in January 2026.

The inaugural survey, which is now set to be repeated every six months, measures the experiences, confidence and sentiment of a range of SMEs, including small accounting practices, doing business in Ireland today. In news that will shock no one, it found that 77% of respondents say business costs have increased in the past six months. And that staff costs are the biggest financial challenge affecting nearly two in five (37%) SMEs surveyed.

As per Eoin Christian, CEO of GRID Finance: “These findings align with our own research conducted earlier this year – rising costs, particularly staff-related expenses are creating significant pressure on Irish SMEs. While these challenges are real, they also represent an opportunity for SMEs to take stock, streamline operations and invest in smart, sustainable growth strategies.” Full survey here.

4. International buyers out in force as Marlet shortlists portfolio bids.

The Irish property market has become hot property for international funds and private equity buyers, who are presently circling it ahead of a possible rebound. According to the Sunday Times, Pat Crean’s Marlet is on the cusp of a deal for its €120 million portfolio of three retail parks after receiving ten initial bids. Four international companies were shortlisted in the first round of proposals last week – California-based Realty Income Reit, French property funds Iroko Zen, Corum Asset Management, Sienna Investment Managers, a Luxembourg-based investment manager – all of which have been snapping up retail parks around Europe, including Ireland.

The three parks comprise Belgard retail park in Tallaght; M1 retail park outside Drogheda, Co Louth (along with 22 acres of adjoining land); and Poppyfield retail park in Clonmel, Co Tipperary. Marlet paid €78 million for the parks in 2021 and ­carried out upgrades on all three.

Despite the recent increase in ­property investment sales in its latest report – with €547 million worth of deals done in the first three months, a huge jump on the €162 million worth of deals in the same period last year –  Savills said: “There remains ­considerable distance to go before the market achieves the kind of liquidity ­witnessed before the rise in interest rates in 2022.”

5. Inflation & Employment .

In news that will surprise no one, the prices of goods and services have officially gone up. As per the Central Statistics Office, Ireland’s EU Harmonised Index of Consumer Prices rose by 1.4% year-on-year in May 2025, down from 2.0% in April. The latest flash estimate indicates that energy prices are estimated to have decreased by 1.3% in the month and fallen by 2.6% since May 2024. Meanwhile, food prices are estimated to have grown by 1% in the last month and increased by 4.1% in the last 12 months. Transport costs have also fallen by 3.0% in the month and decreased by 2.4% in the 12 months to May 2025.

As for unemployment, Ireland’s seasonally adjusted unemployment rate dipped to 4.0% in May 2025, down from 4.1% the previous month and 4.4% a year earlier. Male unemployment edged down to 3.9%, while female unemployment fell slightly to 4.1%, both improving on April and year-on-year figures. Youth unemployment (ages 15–24) dropped to 10.9%, from 11.2% in April, showing some progress for younger workers. However, the unemployment rate among those aged 25–74 crept up slightly to 3.1%, compared to 3.0% in April.

6. Trump tariffs blocked by US Federal Court.

Earlier this month, a US federal court ruled that President Trump’s sweeping tariffs on imports exceeded “any authority granted to the president,” citing that only Congress has the constitutional power to regulate foreign commerce. The US trade court ruled the slate of tariffs was illegal near the end of the month, in a dramatic twist that could block the controversial global trade policy. As a result, an appeals court agreed to a temporary pause in the decision pending an appeal hearing. The Trump administration is expected to take the case to the Supreme Court if it loses.

Tariffs typically need to be approved by Congress to be written into law, but Trump has so far bypassed that requirement by claiming that the country’s trade deficits amount to a national emergency. As of June 3, the Organisation for Economic Co-operation and Development insists that global economic growth is set to be slower this year, largely because of Trump’s US tariffs. It blamed a “significant” rise in trade barriers and warned that “weakened economic prospects will be felt around the world, with almost no exception”.

7. Nvidia sees sunshine and sees rain.

Nvidia reported a huge boost to its revenues in Q1 2025, with sales of its chips rising more than 69% compared to the same period in 2024. However, the US company, whose chips have played a significant role in the AI boom, also witnessed the rise of a dark cloud earlier this year by way of Trump’s tariffs, which saw their stock and share prices plummet.

Analysts say its strong set of results has “eased concerns” around tariffs, with stock rising post the Trump tariff ban, boosting confidence in Nvidia towers somewhat. “Global demand for Nvidia’s AI infrastructure is incredibly strong,” said the company’s chief executive, Jensen Huang in a press release, adding that he expected demand for AI computing to “accelerate”.

8. Hot stuff, baby, this evening.

A number of weather agencies, including the World Meteorological Organisation and the UK Met Office, have forecast that Earth is likely to experience many more years of record-breaking heat due to human-driven climate change. As per The Associated Press, there is an 80% chance the world will break another annual temperature record in the next five years, and it’s even more probable that the world will again exceed the international temperature threshold set 10 years ago.

On top of this, scientists worry that before the end of the decade, the world’s annual temperature will shoot past the Paris climate accord goal of limiting warming to 1.5 degrees Celsius and hit a more alarming 2 degrees Celsius of heating since the mid-1800s. “Record temperatures immediately become the new normal,” Stanford University climate scientist Rob Jackson told the publication.

9. M&A’s.

Hold onto your (acquired) hats…

Professional services firm Xeinadin acquires KBG Accountants

The firm’s largest acquisition in Ireland to date, KBG has six offices in Cavan, Longford and Leitrim and a team of over 80 professionals. It provides a broad range of accounting, audit, tax, and advisory services to businesses and individuals across the Midlands and beyond. “We are delighted to have them as part of our team of experts,” said Derry Crowley, CEO of Xeinadin.

Leinster accountancy practice Quinlan & Co. merges with AVID Partners

Prominent accountancy practice Eilis Quinlan & Co. has merged with AVID Partners, in a deal joining two Leinster greats. Established in 1992, Quinlan & Co. specialises in audit, tax, planning, insolvency and corporate recovery, and is led by Eilis Quinlan, an accredited commercial mediator and a representative in the ACCA Global Forum for SMEs.

AVID Partners was founded in 2001 by managing director Jamie O’Hanlon and specialises in corporate accountancy, business consultancy and management. The firm, which has its headquarters in Portlaoise, employs seven people, according to its latest accounts. Its Dublin office is located in the Beacon Quarter in Sandyford.

Sudeep Pharma Limited Acquires Nutrition Supplies Services

Sudeep Pharma Limited, a leading manufacturer of pharmaceutical and food-grade mineral ingredients, has announced the acquisition of Nutrition Supplies Services, a prominent European premix solutions provider. The acquisition marks a major step in Sudeep’s strategy to strengthen its global presence in the infant formula and clinical nutrition segments.

Ekco acquires Predatech

Ekco, a leading security-first managed service provider, has announced the acquisition of Predatech, a Manchester-based cybersecurity consultancy specialising in penetration testing and assurance services. The move expands Ekco’s cybersecurity capabilities in the UK and establishes a new office for the firm in the North-West.

CubeMatch expands its European presence with the acquisition of BGK

The CubeMatch Group has announced the acquisition of a stake in BGK, a German consultancy specialising in process management and digital transformation. The move allows CubeMatch to further power change, extend its reach into Germany, Austria and Switzerland and reinforce its position in the European market.

In summary:

It’s about that time of year when we all wish we were teachers, isn’t it? Three months ahead, of nothing to do other than not go to work. Sounds like bliss. Alas.

Much like Nvidia, it’s been a bit of an up-and-down quarter for us all. From sunshine to rain, events to M&As, the month of May has brought with it a multitude, not all of it good. Well, at least we can be thankful we’re not Elon Musk, who announced he is leaving Doge, the government department he named after an exhausted meme, after he realised that he somewhat overpromised when he said he was going to slash spending by $2tn. Yes, trillion, with a t.

The real figure has ended up at a cool $1.86tn short of that target, allowing us all to wonder what he’s been doing with his time; photo ops in the Oval Office? Letting his many children run ragged? Insisting that it’s now called X, not Twitter? Who’s to say? Certainly not us. Not least when no one calls it X. And Love Island is about to kick off.

In the meantime, let’s just bask in the reflected glory of imminent Leaving Cert weather (please, please, please) and assure ourselves that things can only get better. If not for us, then someone, somewhere. Probably not Musk, or Leaving Cert students, but someone, surely. Until we find out who that is, we may as well continue on the path we’re going – one that is both sunny and rainy at the same time.

Wear your suncream, and see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of May appeared first on Fitzgerald Power.

1. The manufacturing sector sees its strongest growth since 2022.

Growth in Ireland’s manufacturing sector accelerated in April thanks to a robust expansion in new orders amid signs of stock building due to tariff uncertainty, S&P Global confirmed. The Irish Purchasing Managers’ Index (PMI) rose to 53.0 from 51.6 in March, moving further above the 50.0 threshold “that separates expansion from contraction for a fourth consecutive month”. That was its highest level since June 2022 and was well ahead of the flash April readings for the Eurozone, US and UK.

2. Irish tech firms pivot towards defence sector.

Despite its neutrality, a lucrative market in security technology has opened up for Ireland. Namely, in the tech sector, according to the Irish Times. Irish companies in radar, AI and surveillance tech are pivoting to new opportunities in defence and security, seemingly motivated by the EU’s huge spending splurge in the sector following Trump’s jarring comments in recent weeks against the continent.

Ireland has the EU’s smallest defence budget and has no plans to change its policy of neutrality. However, our favourable corporation tax provides an opportunity to “help with Europe’s resilience”, said Malcolm Byrne, Fianna Fáil’s spokesman for innovation. “We’re never going to see Ireland investing in tanks and weapons. But certainly it makes a lot of sense for Ireland to develop our capabilities in areas around cybersecurity.”

3. Revolut’s been busy.

We found out this month that Lithuania’s central bank fined Revolut €3.5 million for failures in “money laundering prevention”. The fine followed a routine inspection that identified “violations and shortcomings in the monitoring of business relationships and operations”, the central bank said in a statement. The start-up, which has its HQ in London, operates in the EU under a Lithuanian licence and is under the supervision of the European and Lithuanian central banks. Revolut said the investigation had not identified any confirmed instances of money laundering, and its findings were related to improvements in existing controls.

Separately, the fintech announced plans to roll out mortgages for Irish customers this year. “We think the mortgage process that customers go through at the moment [generally] is unwieldy and can be made a lot slicker,” Joe Heneghan, chief executive of Revolut Europe, told the Irish Times.

4. The seesaw of inflation and employment.

According to the Central Statistics Office (CSO), the EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have risen by 2.0% in the 12 months to April 2025 and increased by 0.4% since March 2025. This compares with HICP inflation of 1.8% in Ireland in the 12 months to March 2025 and an annual increase of 2.2% in the HICP for the Eurozone in the same period.

Energy prices are also estimated to have fallen by 0.3% in the month and decreased by 1.7% over the 12 months to April 2025. Food prices are estimated to have increased by 0.6% in the last month and by 3.1% in the last 12 months.

The CSO separately revealed that the seasonally adjusted unemployment rate was 4.1%, which was down from a revised rate of 4.4% in March 2025. (On an annual basis, the unemployment rate of 4.1% was down from a rate of 4.4% in April 2024.) Breaking down the results by sex, the monthly unemployment rate in April 2025 was 4.0% for males and 4.2% for females, and in terms of age, the monthly unemployment rate for people aged 15-24 years was 11.4%, and for people aged 25-74 years was 3.0%.

5. The death of Pope Francis.

Pope Francis, the 266th leader of the Roman Catholic Church, died at the age of 88 this month, the Vatican confirmed. “Dear brothers and sisters, it is with profound sadness I must announce the death of our Holy Father Francis,” Cardinal Kevin Farrell announced on the Vatican’s TV channel on the morning of April 21.

The Argentinian leader will leave a legacy of tolerance and consideration. His death ushered in a new conclave which began on May 7.

6. Iberian Peninsula blackout.

Power started returning to parts of the Iberian Peninsula on Tuesday, 29 April, after a huge outage brought most of Spain, Portugal, and an area of France to a standstill, grounding planes, stopping public transport, and forcing hospitals to turn machines off. Spain’s Interior Ministry quickly declared a national emergency, but no root cause has been found yet.

Rumours of a hacking swirled, as did suggestions of a rare thermal mishap due to the area’s high temperatures. Spanish PM Pedro Sanchez said that the country had suffered a loss of “15gw of electricity generation in five seconds,” equivalent to 60% of national demand.

7. (to the Jaws theme) Tariffs… Tariffs….

If there was one word to describe this month’s business news, it would likely be tariffs. President Trump announced sweeping tariffs on some of the country’s largest trading partners early in the month. This, in turn, upended decades of US trade policy and threatened a global trade war – all to allow him to coin the 24 hours in question “liberation day”. “This is one of the most important days, in my opinion, in American history,” Trump said afterwards on the White House lawn. For decades America had been “looted, pillaged and raped” by its trading partners, he said. “In many cases, the friend is worse than the foe.”

In the middle of his hour-long speech, as the rest of the world wondered what was going on, Trump displayed a chart showing the “unfair” fees that countries placed on the US, alongside the new “USA Discounted Reciprocal Tariffs”. China charged the US 67% in “unfair” fees, and said the US would now levy a 34% fee. The EU charges 39% on imports, according to the White House, and will now be levied at 20%. Trump said the UK would be charged 10% – the baseline tariff – equal to the Trump administration’s calculations of the UK’s fees on US imports. The joys. Whatever will come next?

8. Blue Origin.

For some reason, six people who weren’t astronauts entered space this month. All thanks to Jeff Bezos. Bezos’ Blue Origin all-female crew headed to space for 11 minutes, for a reason that is not quite clear. Singer Katy Perry was there, promoting her upcoming album, as well as Bezos’ fiancée Lauren Sanchez, CBS host Gayle King, former NASA rocket scientist Aisha Bowe, scientist Amanda Nguyen and film producer Kerianne Flynn. King said that when the crew returned to their seats after weightlessness, Perry sang the Louis Armstrong song “What a Wonderful World.”

What resulted was four million memes, endless fodder for news journalists and a growing despair from sustainability activists. Oh, and I guess Perry has an album coming out. But don’t let that stop you from emptying your recycling bin.

9. M&A’s.

Buckle up, she’s a big ’un!

Cork-based occupational health group Cognate Health has been acquired by Optima Health for €9M

Optima Health, which provides technology to help people manage their health in the UK, said it struck a deal to acquire the entire issued share capital of Cognate Health for a total consideration of up to €9M on a cash-free, debt-free basis. The acquisition will be financed using the group’s existing financing facilities.

Mitsubishi Electric acquires Irish elevator firm Ascension Lifts

The Irish elevator company based in Dublin has been acquired by subsidiary, Motum AB, headquartered in Stockholm, Sweden. Through this acquisition, Mitsubishi Electric and Mitsubishi Electric Building Solutions will “strengthen their business base in the Irish market by expanding their business domain into maintenance and renewal, starting with the use of Ascension Lifts’ maintenance stock, and promote their strategy for expanding the elevator and escalator business in the European market.”

Howden acquires a Ranelagh-based financial advisory firm

Howden announced its agreed terms to acquire Chartered Financial Solutions Limited this month, a large financial advisory firm established in 2005 and based in Ranelagh, Dublin. This acquisition is subject to CBI approval. CFS specialises in empowering owner directors, senior executives and the self-employed to achieve their long-term financial outcomes.

HLB Ireland to merge with FutureRange Group following Cardinal Capital investment

Cardinal Capital has backed Sandyford-based HLB Ireland, marking the private equity firm’s first investment in the accountancy sector. HLB is a leading global finance advisory and accounting firm and has enjoyed a successful technology partnership with FutureRange since 2016.

Sigma Wireless acquisition

Day Wireless Systems, a communication solutions company based in Oregon, announced this month its acquisition of Sigma Wireless Communications Limited, a prominent wireless communications solutions provider HQ’d in Dublin. This strategic acquisition marks a “significant step in Day Wireless Systems’ global expansion and strengthens its commitment to providing comprehensive and innovative communication services worldwide.”

In summary:

Whichever way you slice it, that month was a bit mental. And though it’s unclear what else we’re destined for, it is increasingly possible that things are only going to get weirder from here on out. That said, a new Pope might shake things up a bit. And a new Katy Perry album. (I jest.) In other news, it appears May might bring with it some well-needed heat (thank you, Blue Origin) as well as some Ed Sheeran bangers. So sit back, apply suncream and bask in the reflected knowledge that hosepipe bans are in our very near future.

Until next time – see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of April appeared first on Fitzgerald Power.

1. Shattered Webs.

The Web Summit court cases, which kickstarted weeks of back-and-forth among the three men who spent years at the top of the firm, ceased this month. Fortunately or unfortunately (depending on how you look at it), all three men – Paddy Cosgrave, Daire Hickey and David Kelly – all seemed to have gotten what they wanted from the deal. In that, Cosgrave now appears to be in full control of the business, while Hickey and Kelly have presumably received a small fortune for their time. (Seemingly, the value of Web Summit was placed between €280 million-€360 million, and Kelly and Hickey owned 12% and 7% respectively.)

As for its future? Business as usual – but with a degree of the sheen wiped off, naturally. Web Summit Rio is scheduled for next month, with another trip to Lisbon undoubtedly planned for the future.

2. Liberation Day?

The Trump Show really just keeps on going, doesn’t it? This month, that manifested in the so-called Liberation Day, the day on which President Trump climbed the pulpit to tell the rest of the world what he thinks of us. In business terms, of course.

Tariffs were atop the agenda for Trump, which will potentially kickstart a trade war with the EU and China next month. The sweeping tariffs – which see 20% applied to all EU goods and 10% applied to goods from the UK – pose a significant economic threat to this State and particularly to investment, jobs and tax revenues. Their wider impact on the world economy is a negative too, experts claim, though much here will depend on how this plays out. Officially, we’re on a “wait and see/hope” kind of vibe.

For now, the pharmaceutical industry won’t be affected, but who knows what’s to come in the future? All we know now is that Trump has made it crystal clear that he wants production for the US market to come back to the US, and there is more to play out here in terms of how his policy evolves.

3. Amazon comes to Ireland.

Amazon has officially opened its dedicated Irish platform – amazon.ie – to the public as the retail giant promises shoppers here easier access to deliveries, returns, local pricing as well as the removal of red tape when it comes to taxes and charges.

The company announced plans for an Irish site back in 2024, with the platform going live earlier this month to happy customers. It was also confirmed this month that the company is launching a “brands of Ireland” section on the platform as part of a collaboration with Enterprise Ireland. It will see homegrown brands such as Barry’s Tea and Ella & Jo selling their products on amazon.ie.

This move is likely aimed at criticism that an Ireland-specific Amazon platform would make it more difficult for local businesses to grow in the face of competition from the biggest retailer in the world. However, Amazon has promised that the section will “help local businesses to achieve greater scale and success”.

4. Inflation & employment.

Ireland’s unemployment rate was 4% in March, rising slightly from the month previous, according to the latest Central Statistics Office (CSO) data. A total of 114,800 people were unemployed last month, nearly 2,000 more than the previous month. “There was a fall of 5,600 in the seasonally adjusted number of people unemployed in March 2025 when compared with March 2024,” noted CSO labour statistician Conor Delves.

The average Irish consumer might have also noted a slight increase (1.8%) in their food shop from last year, suggesting a slight increase in the annual rate of headline inflation from 1.4% in February, according to the CSO. On a monthly basis, prices rose by an estimated 0.7% in March despite a decline in energy prices, which fell by 1% in the month and were down 0.4% from March 2024.

House prices across Ireland also rose by an average of 3.7% during the first three months of 2025 (what’s new, says you), with inflation reaching its highest level in eight years. The latest data from Daft.ie shows typical listed prices have reached just over €346,000, a level 11.6% higher than 2024 and 35% higher than at the beginning of the Covid-19 pandemic. For more detailed information on this, check out our Inside The C-Suite interview with Shane Quinlan of Sherry Fitzgerald.

5. M&A roundup.

Another roundup… Hold on to your acquired hats.

1. Insurance intermediary group Howden Ireland has acquired Roban Insurances Ltd, trading as Roban Financial Enniscorthy, Co. Wexford. The deal for Roban is the latest in a string of acquisitions by Howden, which has plans to establish an office in every main town in Ireland. Since its inception in 2019, Howden has grown to more than 500 employees in 27 local offices across the country.
2. CDS Superstores, the company behind The Range, has acquired the majority of the Homebase stores located in the Republic of Ireland. This latest deal follows The Range’s acquisition of 70 UK Homebase stores, including those located at Nutgrove, Sligo, Drogheda, Santry and Portlaoise, which will be rebranded as The Range. Homebase’s brand will continue as a digital retail outlet, with the firm’s shops becoming The Range outlets over the coming months.
3. E-commerce financing company Wayflyer has acquired business-to-business marketplace MadeMeBuyIt for an undisclosed sum. Founded in 2019 by Jack Pierse and Aidan Corbett, Wayflyer is one of Ireland’s tech unicorns and provides e-commerce companies with loans to kick-start their business or improve cash flow in exchange for a share of their future profits. Meanwhile, MadeMeBuyIt was launched in 2022 and was founded by Benjamin Kosinski. The US start-up connects e-commerce brands with national retailers to sell inventory.
4. Irish cybersecurity company Integrity360 has this month announced the acquisition of French cybersecurity firm Holiseum for an undisclosed sum. The acquisition is part of Integrity360’s plan to further expand into mainland Europe. Holiseum is a Paris-based cybersecurity company, founded in 2018, that offers a range of IT consultations and services.
5. Tesco Ireland’s acquisition of McEvoys Eurospar Ltd has this month been cleared by the Competition and Consumer Protection Commission. The acquisition of McEvoys, which operates a SuperValu at Virginia Shopping Centre in Co. Cavan, is Tesco’s first since it acquired 10 units in Co. Galway from Joyce’s Supermarkets in 2021. Owned by Padraig McEvoy, McEvoys Eurospar Ltd brought in a turnover of €12.7m in 2023, up from €12.4m the previous year.

In summary:

Anyone hoping for a month without word from Trump will likely have been left sorely upset. Between the bowl of shamrocks, looming economic terror and prices of fake tan being implicated by inflation, it’s hard to lose sight of him at all. Thankfully, the clouds are veiling to reveal, dare we say it, good weather? Oh god, sorry. That’s jinxed anyway now.

In other news, it appears Meghan Markle is back to teach us how to make bath salts. That might come in handy for anyone looking to avoid the real world. For now, let us enjoy spring lambs, sunsets at 8pm and the knowledge that we still have the soundest president in the world for another few months.

Until next time – see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

The post Lessons from the month of March appeared first on Fitzgerald Power.

1. The Trump Show.

The Western world cringed as Ukrainian President Volodymyr Zelenskyy visited the Oval Office this month, for a meeting which left President Trump and VP Vance being accused of turning 1600 Pennsylvania Avenue into “an arm of the Kremlin”. The meeting – which saw the Ukrainian president jeered for his outfit and criticised for his failure to express gratitude for American aid – proved sumptuous fodder for a satirised Saturday Night Live sketch at the weekend, not to mention a quip for Oscar’s host Conan O’Brien. “I guess Americans are excited to see somebody finally stand up to a powerful Russian,” O’Brien said, referencing Anora, a film centred around an American sex worker and Russian oligarch.

In other grim Trump news, the President hinted this month that he will impose a 25% tariff on EU goods. A worrying precedent indeed. Particularly given that Ireland exports €75 billion of goods to the US annually, of which €58 billion is manufactured by drug companies.

2. Ireland’s inflation rate is, presently, among Europe’s lowest.

The pace of inflation slowed in February to an annualised rate of 1.3%, a fraction of the level of price hikes that hammered households and businesses in the aftermath of Covid, as per the Irish Independent. While prices are still rising, pace has moderated as energy costs, in particular, have eased.

Meanwhile, transport costs have risen by 1.7%. Despite this, the EU’s Harmonised Consumer Price Index data for January showed that inflation in the Euro area stood at 2.5%, showing a rising trend for a fifth straight month. The figures also showed that Ireland’s inflation rate is among Europe’s lowest and significantly below the euro area inflation rate. This chimes with our Market Pulse report for Q4 2024, not to mention our recent event with The Currency at The Dean discussing it. Other main points made on the day? That SMEs in Ireland are in a strong position due to lower inflation, and the labour market is so hot right now. “With fractional C-suite talent now more accessible, businesses can tap into expertise that wasn’t available before,” CEO Stuart Fitzgerald said. “Now’s the time to secure the right team and drive your business forward! Now’s the time to build a solid plan. Set your business up for growth while protecting it if things take a downturn. Strategic planning today ensures resilience tomorrow.”

3. Housing outlined as ‘number one issue’ for Irish Government.

No, you’re not experiencing déjà vu, but yes, the Taoiseach is on about prioritising housing with little to no public confidence again. This month, Micheál Martin insisted that housing is the “number one issue” for the Irish government, despite near-consistent criticism over the use of housing data ahead of the general election last year. Sinn Féin President Mary Lou McDonald accused Martin and Tánaiste Simon Harris of deceiving the electorate that 40,000 new homes would be delivered last year, in place of the actual number, less than 33,000. Martin retorted that there was “no attempt to deceive,” while analysts in this area continue to insist that the correct term for what Ireland is going through is a housing “emergency,” not merely a housing “crisis”.

4. A month of insolvencies.

The struggle is real for companies in the retail, hospitality and construction sectors this month (and year) as insolvencies in those regions are expected to surpass 1,000 this year for the first time in a decade. As per figures published by Deloitte, corporate insolvencies increased by 212 or a third (+32%) to 875 in 2024, the highest level since 2016 (1,032). James Anderson, turnaround and restructuring partner at Deloitte Ireland, said insolvencies had risen by an average of 30% every year from 2022 to 2024, and that a 15% increase in 2025 would bring the total to 1,006. (Leinster had the highest number of insolvencies in 2024 with 677 in total, accounting for 77%.)

Among the last companies standing were Quiz and New Look, two UK-centric fashion businesses which saw a combined loss of 404 jobs in the State. New Look, built up over more than 20 years, employs 347 people, of whom 32 are full-time. The business said the shops would remain closed for the next few days, reopening briefly to commence a clearance sale.

5. M&A roundup.

Let’s rack ‘em up…

– Insurance intermediary Howden Ireland has agreed its fourth acquisition since October, with a deal to buy Clonmel-based John A. O’Sullivan Insurances Ltd. The deal brings Howden closer to its goal of having a local office in every main town in every county in Ireland, and the company said it would be a key acquisition in the south of Ireland. Led by Sean O’Sullivan, latest accounts show turnover of €1.3m and operating profit of €95,900 in 2023.

– The Ryan family have announced the successful completion of the sale of the Marine Hotel in Sutton, Dublin 13, with MD Matthew Ryan commenting: “The sale is testament to the wonderful staff and team at the Marine and we wish the new owners every success”. The sale attracted numerous bids from domestic and international hotel groups and the hotel was sold to Hotels Properties Limited, for in excess of the €10m guide price.

– Musgrave Group has agreed to buy a 91% stake in Carrick Supermarket Ltd, the operating company for the SuperValu in Carrick-on-Suir, with intent to sell it on to another independent retailer. Carrick Supermarket Ltd was established in 1999 and is jointly owned by Mary and Patrick ‘PJ’ Guinan. Turnover for the business increased by more than €500,000 in the 12 months to the end of June 2024, rising from more than €13.5m to under €14.1m.

– Irish-founded quantum computing company Horizon Quantum has entered into a non-binding letter of intent to merge with SPAC dMY Squared Technology Group Inc., in a deal that values Horizon at $500m. Dr. Joe Fitzsimons, the Irish physicist who founded Horizon Quantum and acts as CEO, and the current Horizon management team will lead the combined company, which is expected to be publicly listed. Under the terms of the letter of intent, the pre-money equity value of Horizon in the transaction is approximately $500m.

In summary:

Anyone hoping for a tame February will likely have been left sorely upset. Between Oval Office Smackdowns, Defying Gravity snubs, news that wooden log cabins are due to become the housing norm and Six Nations chaos, pretty much everyone has had their fill of worldwide news. The most worrying part of it all, though? A near constant Elon Musk ick-fest – for those of you mercifully not in the know, an ‘ick’ is a term commonly used to describe a feeling of disgust or aversion towards something or someone. It’s generally triggered by a mundane and banal, yet defining, act; like struggling to merge on a motorway, or repeating the word “yummy,” after a spoon of dessert.

In better and brighter news, spring has almost certainly sprung. Particularly, like me, if you’re steadfast in your belief that winter coats should be put away by February’s end. If you see me this month and I look freezing, mind your business.

Until next time – see you next month!

Our team is dedicated to providing you and your business with the absolute best business advice out there. We approach each and every case from a fresh perspective, working with you to find tailored solutions that leave your business feeling stronger than ever. With our expert analysis, we translate figures into a language you can understand. Using timely, reliable advice, our experienced team of experts devise sophisticated plans to encourage cost efficiency and growth. To find out more, contact our team at Fitzgerald Power today.

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