Latest news with #McCoy
RTÉ News
2 days ago
- Business
- RTÉ News
Europe 'capitulated' on US tariff deal, says Ibec CEO
CEO of Ibec Danny McCoy has described the deal reached by the European Union and the United States on trade tariffs as a capitulation by Europe. The agreement will see EU exports taxed at 15% in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a full-blown trade war. The deal was announced following a meeting between European Commission President Ursula von der Leyen and US President Donald Trump. Speaking on RTÉ's Morning Ireland, Mr McCoy said: "The good news, if there is good news on this, is that uncertainty may be dissipating and that's going to be important for people in business to make decisions." However, he said the deal was "fairly punishing" for the EU and added "Europe has capitulated". "It's quite tragic that we are in this situation. If Europe had equal strength, it could have confronted the United States," he said. Mr McCoy said that while the EU is a "strong economic zone", its weakness is that "we cannot defend the European Union". Under the deal, the EU pledged to buy US military equipment and European companies are to invest $600 billion in the US over President Trump's second term. "US businesses are now favoured coming into Europe without tariffs and our European businesses are facing 15%. "In time, this will lead to a lot of changes in terms of businesses having to look at different markets than the United States or suffer significant losses trading with the United States," Mr McCoy said. He also raised concerns for Ireland that goods from the UK entering the US will have a smaller tariff rate of 10%. The US and UK agreed to a trade deal in early May, which included a baseline 10% tariff on most goods exported to the US, with certain exemptions. The agreement includes goods being exported from Northern Ireland. EU-US tariffs deal gives clarity, says minister Minister for Enterprise Peter Burke said that the deal brings clarity and avoids a trade war that could have resulted in 30% tariffs on EU goods. Speaking on the same programme, he said: "It gives certainty which is key, but there's three key areas I think we have to focus on. "We are about four days away, which would have been a 30% tariff for the US and that would have been very significant for all our companies right across the country. "Secondly, I think it avoids a direct trade war because we're very much aware that there was about €100 billion of countermeasures that were ready to be deployed, which would have a very significant effect on Ireland and as well on the north-south economy." Mr Burke added that "the devil is in the detail and we do need to see those key areas, those carve-outs that have been specifically called out by the President of the Commission yesterday". He said that the Irish Government "is very, very clear and has been that tariffs are bad" and said 15% is a "very significant tariff". In relation to pharmaceuticals, Mr Burke said that the understanding is that the 15% tariff "will be a ceiling" subsequent to the US investigation. "Pharmaceuticals are very complex, a lot of the product that is exported over to the US is not a complete product. Almost 70% of it is components of the final product that will come together. "And that's why we do need to ensure that we have a very keen rate to ensure we incentivise innovation in that sector because that's so important for the global economy. "We've about 100,000 employees in Ireland, 130 billion exports in the life science sector and the Government will be bringing forward a separate life science strategy later on this year, which will be key in continuing the investment and offering a very competitive proposition from Ireland's perspective," Mr Burke added.
Irish Examiner
2 days ago
- Business
- Irish Examiner
Alcohol health labelling 'will add over a third to costs'
Taoiseach Micheál Martin was lobbied by business representative group Ibec to delay the introduction of alcohol warning labels for 'at least' four years due to tariff fears. Ibec chief executive Danny McCoy warned the Fianna Fáil leader that the new requirements would lead to packaging and labelling costs increasing by 'over one-third'. The letter also suggested that some distillers had even suspended brewing in fear of impending tariffs by the US administration. Mr McCoy also sent the letter to Tánaiste and trade minister Simon Harris and health minister Jennifer Carroll MacNeill in early June. The Government agreed earlier last week to suspend the rollout of warning labels for two years. In May 2023, then health minister Stephen Donnelly signed the Public Health (Alcohol) (Labelling) Regulations 2023. It was envisaged that the law would make it mandatory for alcohol product labels to state the calorie content and grams of alcohol in the product. They would also warn about the risk of consuming alcohol when pregnant and about the risk of liver disease and fatal cancers from alcohol consumption. The change was due to come into effect in May 2026, to allow a three-year implementation period for the drinks industry. However, there have been rumblings in recent weeks that the plan would be postponed, with Mr Harris saying that it would be additional disruption and a 'potential trade barrier' as tariff negotiations continue. At Tuesday's Cabinet meeting, the Tánaiste told ministers that Ms Carroll MacNeill will defer the plans for two years. This is despite reports that it would be a four-year pause. Correspondence released under Freedom of Information (FoI) shows that the Taoiseach was being lobbied by Ibec to drop the labelling plans. On June 3, Mr McCoy called for the plans to be dropped for four years 'at least'. 'The wider drinks sector, but particularly many of the new emerging distilleries, have significant exposure to these new tariffs and the wider trade uncertainty,' wrote Mr McCoy. 'The majority of distilling across the country is now suspended. The introduction of new labelling requirements for the drinks sector, which will add over one-third to product labelling and packaging costs, should be suspended for at least four years to give some certainty to operators. 'Reducing regulatory burden costs to free up resources to allow companies invest in finding new markets would be a positive development.' Mr McCoy said that the legislation had been cited by the US administration in its 2025 National Trade Estimate Report on Foreign Trade Barriers, which he said was 'cause for further concern and reason for this legislation to be deferred'. He added: 'The industry does not want this to be an issue of disagreement in overall efforts to secure a resolution on trade relations and restoration of a tariff-free trading environment.' Further correspondence shows the letter was also forwarded from the Taoiseach's office to the Department of Enterprise several days later seeking an update on enterprise minister Peter Burke's engagement with Ms Carroll MacNeill. A letter sent from Mr Burke to Ms Carroll MacNeill on May 15 was also released under FoI. He said that recent months have seen 'significant global uncertainty and a rapidly shifting trading landscape', which he said 'could have profound competitiveness implications for small open economies like Ireland'. Mr Burke said that Ireland would be the first country in Europe to introduce the labels. 'The proposed measures will mean increased production and sale costs for Irish producers and importers and add to the price payable by consumers at a time when prices are also rising due to a multitude of other factors,' wrote Mr Burke. 'Notwithstanding the overarching health benefits of the proposal, I would ask you to consider pausing the introduction of the proposed new requirements.' Calls not to delay plans Meanwhile, Mr Martin was urged not to delay the plans and received a letter just last week from Alcohol Action Ireland chief executive Sheila Gilheany. She said that 'postponing alcohol health information labelling is not consequence free given the thousands harmed by alcohol in Ireland.' Read More Delaying alcohol warning labels prioritises profiteering over health, says Irish Medical Organisation
Metro
4 days ago
- Lifestyle
- Metro
River Island sell suede sandals that are a Hermes Oran Sandal alternative
Metro journalists select and curate the products that feature on our site. If you make a purchase via links on this page we will earn commission – learn more While the British weather may not be able to make up its mind, we can. By that mean, we prefer the price tag of a designer alternative than we do the real McCoy. Case in point is River Island's Suede Cut Out Sandals that retails for £28, but looks very similar to the iconic Hermes Oran Sandals, which fetch a staggering £610. Crafted from leather, these suede sandals boast a cut-out strap over the bridge of the toes with a gold buckle detail on top. The open toe design has a flatform-style heel as the sole increases in height ever so slightly by the heel. Available in two colours and in UK shoe sizes 2 to 8. Buy Now for £17 (was £28) River Island's Suede Cut Out Strap Sandals have been crafted from leather suede. The design boasts a square open toe, which is similar to the Hermes design. Though River Island boasts a geometric cut-out strap, this detail on the Hermes' shoe is in the shape of the letter 'H' to honour the brand, of course. The main stand out difference between both flat sandals is the gold buckle accent on River Island's shoes, which is almost a chic twist we love and a subtle nod to Gucci's signature horsebit detail. The Hermes Oran sandal has been crafted from premium calfskin, and offers a smooth leather exterior, whereas River Island's design is a textured suede. Look a bit closer and you will see that River Island's shoe features a flat sole, which is slightly elevated by the heel, but resembles a very minuscule flatform almost. However, the Hermes design has a small block heel. More Trending River Island's open-toe sandals are available in two colours, including tan suede and a chocolate brown smooth leather, whereas the Hermes sandals come in 35 colours, which is quite a collection to pick from. Hermes' sandals come in UK sizes 2 to 8.5, and half sizes are available. While River Island's shoes are also available in UK shoe sizes 2 to 8, it does not include half sizes. If you are in the market for a new pair of summer sandals to complement your summer dress, skirt and top co-ord, or the classic jeans and a tank top ensemble, a pair of sturdy yet stylish sandals that won't break the bank just makes sense. Why stop there? River Island has a variety of premium looking accessories to shop too, including the Bottega Veneta inspired bag and Jacquemus inspired roll top bag. Follow Metro across our social channels, on Facebook, Twitter and Instagram Share your views in the comments below MORE: River Island's £32 flip flop wedges could easily be mistaken for £545 Gucci shoes MORE: River Island's sell-out Collarless Jacket is back in stock – and in two new shades MORE: River Island launches Jacquemus-inspired roll top bag perfect for any outfit – and I'm buying all colours
USA Today
5 days ago
- Sport
- USA Today
Jermod McCoy ranked No. 23 player in college football, projected as first-round pick
Junior defensive back Jermod McCoy enters his second season at Tennessee in 2025. As a sophomore in 2024, he recorded 44 tackles, 0.5 tackles for a loss, four interceptions, 71 interception yards, 13 pass deflections, six punt returns and 59 punt return yards in 13 games. McCoy also earned 2024 All-SEC First-Team honors (AP). Following the conclusion of the 2024 season, he suffered a torn ACL in January. Despite his injury, the 6-foot, 193-pound cornerback is projected as the No. 14 overall selection to Dallas in the 2026 NFL draft first round, according to Bucs Wire. The NFL draft is scheduled for April 23–25, 2026 in Pittsburgh, Pennsylvania. McCoy also ranks as the No. 23 player in college football in 2025 by College Wire's lead writers. Before arriving at Tennessee, he transferred from Oregon State following the 2023 campaign. McCoy appeared in 11 games for Oregon State during the 2023 regular season. He recorded 31 tackles, two interceptions, seven pass deflections and one fumble recovery as a freshman for the Beavers. More: Tennessee quarterback Joey Aguilar ranked as No. 50 college football player in 2025 More: Tennessee defensive back ranked as top position player for 2025 season Follow Vols Wire on Facebook and X (formerly Twitter).
CNBC
7 days ago
- Business
- CNBC
Setting aside 'worry time' can help you get better with money, therapist says—here's how
Feeling uneasy about your financial future? You're not alone. Nearly 7 in 10 (69%) Americans say financial uncertainty has led them to feelings of anxiety and depression, according to a recent survey from Northwestern Mutual. Financial anxiety is a looming feeling, often borne of the notion that you're not doing well enough — for your future self, for someone your age or compared with your peers, says Megan McCoy, a financial therapist and professor at Kansas State University. "Anxiety tends to swirl in our minds all day, especially when it's about money," she says. But instead of trying to avoid these feelings or letting them get in the way of other things you want to accomplish, set aside time to deal with them. "A surprisingly effective strategy is to schedule a daily or weekly 'worry time' — 15 to 20 minutes dedicated only to your financial concerns," McCoy says. First, write down everything you're anxious about. This could include everything from concrete, numbers-based worries ("I'm not sure how I'll afford it if my kid wants to go to a private college") to lifestyle-based anxieties ("Everyone on my Instagram feed appears to be taking more frequent, nicer vacations than I do"). From there, sort the items into two lists: things you can control and things you can't, says McCoy. "This process helps transform vague, persistent worry into two buckets: action and acceptance," she says. "It's not about ignoring your fears — it's about learning how to manage them with intention." For the things you can control, focus on taking small, incremental steps toward the change you want. That may be mean setting up regular, automatic deposits into a 529 account or a vacation fund. If you can name dedicated savings accounts after these goals, even better, says McCoy. Specifically named accounts "help people feel organized and emotionally attached to their progress," she says. "They also reduce the temptation to spend impulsively because the money already has a purpose." If getting this set up on your own sounds daunting, don't be afraid to ask for help, McCoy says. A financial planner can help you translate your fears and goals into actionable steps. You may even be able to get free help through your employer. As for the factors that are out of your control — the future of the stock market, U.S. trade policy and tax rates, how much money your friends are making — give yourself a little grace. McCoy suggests taking a step back and trying to redefine success on your own personal terms. Do you have choices? Does your spending align with your values? Are you being intentional about the ways you save and spend money? If you answered yes to all three, you may be doing better than you think. "This reframing reduces pressure and invites a more grounded, compassionate view of financial health," McCoy says.
