Ireland lost most from European exodus to Wall Street
Today at 00:30
The Irish stock exchange has been the biggest loser from the flight of European companies to the US over the last decade, a new analysis has found.
The exodus from Euronext Dublin has included Smurfit Westrock, CRH and Flutter, which have all moved their listings to America.
Related topics
John Burns
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
2 hours ago
- Irish Independent
Gambling offers lure people into betting more, ESRI report finds
Published today, a new study titled 'Effects of inducements on sports gambling and decision-errors' was conducted by the Behavioural Research Unit of the ESRI. The research, funded by the Gambling Regulatory Authority of Ireland (GRAI), used a controlled experiment on a sample of 622 men aged under 40, just before the Euro 2024 football championship, to test whether offers or 'inducements' change the betting behaviour. As part of the experiment, participants were given money to place up to six realistic bets on Euro 2024 matches. Half of the group, which was selected randomly, were presented with offers of free bets and money-back guarantees on some bets, while the other half saw no offers. These offers caused participants to spend over 10pc more of their money, and decreased the number of people who chose not to bet at all by almost half. Some bets were intentionally designed as 'bad bets', offering odds well below market rates, which meant that participants were better off choosing other options or not betting at all. Those who were exposed to these offers were three times more likely to spend money on these bad bets. ESRI postdoctoral research fellow and the co-author of the study, Dr Diarmaid Ó Ceallaigh, said the findings 'imply that gambling offers aren't merely marketing tools, but pose a real risk of financial harm, particularly among vulnerable groups'. We are committed to continued research to understand the extent of gambling in Ireland 'The results support the case for stricter regulation of gambling offers in Ireland, following steps already taken in other European countries, such as banning sign-up bonuses, restricting offers to at-risk individuals, and capping their value,' Dr Ó Ceallaigh added. The study also showed those at risk of problem gambling were more affected by the inducements than those not at risk. Even though the majority of participants were regular bettors, most did not realise there were restrictions on free bets and that they would not receive their stake back if they won a free bet – both of which are standard practice in the market. The CEO of the GRAI, Anne Marie Caulfield, said the findings 'add weight to the discourse around the harms of gambling inducements'. 'We are committed to continued research to understand the extent of gambling in Ireland, the drivers of gambling harms and the impact of inducements and advertising on gambling behaviours,' she said. 'We are actively engaged with a broad range of stakeholders, including with industry, charities and with people who have lived experience of harm caused by gambling. 'The Gambling Regulation Act 2024 sets out obligations for licensees in the way in which inducements can be offered, including a ban on targeted inducements, and the findings of this study affirm these measures.'
Irish Independent
2 hours ago
- Irish Independent
Baseline 10pc US tariffs will do damage to Irish businesses, experts warn
A regime of 10pc tariffs – the expected outcome of trade talks between America and the EU next week – will have a negative impact on Irish business, experts have warned.
Irish Independent
2 hours ago
- Irish Independent
Fenergo to hire 300 people in Ireland in €100m R&D expansion
The firm, which was acquired by European private equity interests in a €600m transaction in 2021, says that the jobs will be in engineering, AI and other areas of the business. The move would double the firm's Irish headcount. A further 200 international jobs are also planned, the company added. The hiring is scheduled over the next three years with support from Enterprise Ireland. 'The new roles will enable Fenergo to further deliver on its mission to support financial institutions in fighting financial crime and creating a safer world,' said a company spokesperson. 'Fenergo will continue to build out its intelligent, AI-powered solutions for client lifecycle management, anti-money laundering and 'know your customer'.' Fenergo has achieved global success with software that helps companies with financial compliance and regulatory rules. Majority owned by the private equity firms Astorge and Bridgepoint, Fenergo's last valuation was approximately €1bn, making it one of a handful of Irish 'unicorns', privately-held companies worth more than $1bn. Recruitment for mid-level engineering and R&D positions is now underway, the company said. Fenergo also announced a graduate programme to attract up to 30 university graduates. 'This investment and growth of our Irish operations reflect our confidence in the excellent talent pool we have in this country, and a market where innovative thinking, entrepreneurship and evolving technology will propel Fenergo to new heights,' said Marc Murphy, CEO and founder of Fenergo. 'With AI at the core of our strategy, we are committed to delivering future-proof solutions for financial institutions in Ireland, across Europe, the UK, America, Middle East and Asia, supporting them during times of intensifying geopolitical tension and regulatory uncertainty." The company was talking as Enterprise Ireland announced client company export figures for 2024 of €36.75bn, up 7pc on 2023. The agency said that all territories and major sectors recorded increases and that its previously-stated strategic target of €30bn in exports had been surpassed. It said exports to Europe grew by 8pc to €10.63bn, representing 29pc of total exports. 'This is the first time that exports to this region have surpassed the UK, making Europe now the largest export territory for Enterprise Ireland's client base,' the agency said in a statement. The UK saw €10.52bn of exports in 2024 by EI client companies, up 4pc on 2023 and surpassing the €10bn mark for the first time. The North American market saw growth in exports of 8pc to €7.3bn in 2024.
