Consumers will soon notice changes in how their insurance policies are renewed. Under new regulations introduced by the Central Bank, automatic renewals for certain insurance types, including pet insurance, travel insurance, gadget insurance, and dental insurance, will no longer occur without prior consent from the consumer.

This shift comes as part of the revised Consumer Protection Code, which aims to enhance transparency and empower consumers in their insurance dealings. Michael Kavanagh, chief executive of the Compliance Institute, confirmed that this change is intended to ensure individuals actively agree to the terms of their policies each year.

The update addresses concerns that many consumers are often unaware of automatic renewals and the associated costs. By requiring explicit consent, the Central Bank hopes to reduce instances where individuals are unintentionally auto-enrolled in policies that may no longer meet their needs.

As these regulations take effect, consumers will need to inform their insurance providers if they wish to maintain the convenience of automatic renewals. This adjustment is expected to foster a more informed consumer base, encouraging individuals to review their insurance policies annually.

While the new rules apply specifically to the aforementioned types of insurance, it remains to be seen if similar measures will extend to other categories in the future. The Central Bank has not indicated plans for further changes at this stage, but the ongoing evolution of consumer protection laws suggests that the insurance landscape may continue to shift.

The implementation date for these new rules has not yet been announced, leaving consumers and insurers alike to prepare for the upcoming changes. As the insurance sector adapts, individuals are encouraged to stay informed about their options and the implications of these new regulations.

Penneys, the Irish retailer operating under Primark Ltd, reported a marginal decline in revenue for its Irish stores despite a notable increase in pre-tax profits. For the year ending on September 14, 2024, the company’s pre-tax profits surged to more than €881.5 million, up from €416.63 million in the previous year. However, revenues from the Irish store network dipped slightly from €744.5 million to €741.7 million due to unfavorable weather conditions.

The results, detailed in newly released accounts, indicate that the average daily pre-tax profit exceeded €2 million last year. The directors of Primark noted that trading performance in Ireland remained flat, particularly in the second half of the year, which was adversely affected by poor weather. Despite these challenges, the opening of a new store in Bray during the summer helped mitigate some of the negative impacts.

Investment plans for the future are robust. A Primark spokesperson confirmed the company is committed to a multi-year investment programme of €250 million in Ireland, which aims to enhance existing stores and create new job opportunities. Recent refurbishments included the Penneys location on O’Connell Street in Dublin and a new store in Limerick, with the latter reopening last week following an investment of €5 million.

The investment programme is expected to generate an additional 1,000 jobs and expand retail space in Ireland by approximately 20%. Furthermore, Primark plans to construct a state-of-the-art distribution facility in Newbridge, County Kildare, representing an investment of €75 million set to commence within the next year. Directors emphasized that these initiatives underscore the company’s long-term commitment to local communities throughout Ireland.

Overall, Primark’s revenues increased by 5% year-on-year, rising from €3.91 billion to €4.1 billion. This total includes €2.1 billion from intercompany supplies of inventory and €1.25 billion from the Primark Way franchise, which operates internationally based on Primark’s intellectual property and expertise.

The spokesperson highlighted a positive performance for the year, attributing the growth in turnover and profit to strong trading across key European and US markets, as well as consistent performance from Irish stores. Primark’s strategic expansions included entering Hungary and opening its 450th store in Orlando, Florida.

Financial disclosures reveal that Primark paid out dividends totaling €809 million and recorded a post-tax profit of €771 million, after a corporation tax charge of €109.9 million. The company has also experienced a slight decrease in employment, with numbers falling from 7,064 to 7,054, consisting of 5,033 retail assistants, 595 retail managers, and 1,426 central staff. Staff costs rose from €300.19 million to €319.03 million.

At the end of the accounting period, Primark Ltd’s accumulated profits stood at €1.6 billion. The company initially opened its first store in Dublin in 1969 under the name Penneys and is targeting a total of 530 stores globally by the end of 2026. The profit figures also account for non-cash depreciation costs of €86.53 million and non-cash amortisation costs of €45.35 million.

Cork Craft Month 2025 is set to launch on August 1, 2025, marking two decades of celebrating creativity in the region. This year’s event boasts an impressive lineup of 99 events, including 80 hands-on workshops, reflecting the growing public interest in unique, handcrafted items. The festival, organized by Cork Craft & Design, aims to connect local artists with the community, allowing visitors to engage directly in the craft-making process.

The upcoming festival will feature a significant shift towards experiential learning, with approximately 81% of the events focused on workshops, up from 70% in 2024. This trend underscores a broader movement toward participatory experiences, where attendees can immerse themselves in various crafts. Notable workshops include seaweed pressing with Samuel Arnold Keane on August 23, and basket-making sessions with Sonia Caldwell on August 4 and spoon-carving with Tadhg Breathnach-Peelo on August 17.

Expanding Opportunities for Local Artisans

The festival’s growth mirrors the increasing appeal of careers in the crafts sector. Many artists have transformed their creative hobbies into sustainable professions, especially following the pandemic. In a recent interview, Ava Hayes, director of Cork Craft Month, noted that many makers reassessed their careers during lockdown. “What began as a creative outlet for some has blossomed into full-time practices,” she explained. The festival now supports over 110 members, encompassing a diverse array of craftspeople from potters to textile artists.

Cork Craft Month not only highlights individual creativity but also fosters a sense of community among artisans. Hayes emphasized that being part of a collective like Cork Craft & Design enhances visibility for makers. “Events like Cork Craft Month provide a platform for storytelling and skill-sharing, which is crucial for our members,” she stated. The event serves as a marketplace for artisans to showcase their work, but it also facilitates deeper connections with the public.

The festival’s opening event, Echoes of the Makers, will take place at Fota House on August 1. This special exhibition celebrates the two decades of Cork Craft & Design’s contributions to the arts. Additionally, the Voice of the Craft exhibition will open at St. Peter’s on August 14, showcasing the evolution of craft in the region.

A Bright Future for Craft in Cork

As Cork Craft Month celebrates its 20th anniversary, the landscape of craft and design has shifted significantly. “Craft has moved from the margins to the mainstream,” Hayes noted, highlighting the growing recognition of craftsmanship as both an art form and a viable career. The festival reflects this transition, showcasing the resilience and innovation of local makers.

The enduring popularity of Cork Craft Month can be attributed to its ability to foster connections between the public and artisans. Visitors are not just observers; they are participants eager to learn and create. Each event, whether it involves clay throwing or botanical workshops, transforms into a memorable experience.

To view the complete schedule of events, workshops, and exhibitions, interested parties can visit corkcraftanddesign.ie. Given the limited capacity of some workshops, early booking is highly recommended. As Cork Craft Month approaches, anticipation builds for another year filled with creativity and community engagement.

German Chancellor Friedrich Merz has firmly rejected two key proposals from the European Commission regarding new revenue streams for the European Union’s upcoming long-term budget. During a press conference with British Prime Minister Keir Starmer in London on March 15, 2024, Merz stated that Germany would not support an EU tax on high-turnover companies or the concept of joint borrowing to finance a proposed €400 billion crisis fund.

The European Commission presented its budget plan on March 14, suggesting that the new EU tax and joint borrowing could provide necessary funds for the EU’s central budget, projected at €1.816 trillion for the seven-year period starting in 2028. This proposal initiates a complex negotiation process involving the EU’s executive body, national governments, and the European Parliament, all of which must reach a consensus before the budget can be finalized.

Merz articulated his concerns about the legality of the proposed company tax, emphasizing, “There is no question of the European Union taxing companies, as the European Union has no legal basis for this.” He reiterated that Germany will not pursue such a financial strategy, reinforcing the country’s long-standing stance against EU-wide taxation.

Additionally, Merz expressed his worries about the increasing reliance on joint debt among EU member states. He described this reliance as “permissible as an exception” but cautioned that it is becoming “the new normal.” Germany has historically resisted collective borrowing, primarily due to concerns that it would obligate Berlin to cover debts incurred by higher-spending nations. While Germany conceded to temporary joint borrowing during the Covid-19 pandemic for economic recovery, the Chancellor’s latest remarks indicate a return to a more stringent fiscal posture.

“The European Union must basically make do with the money it has available,” Merz stated, predicting that the next two years will see significant contention over the budget negotiations. The proposed budget represents a substantial increase in the EU’s spending capabilities compared to the current budget, which has been in effect since 2021.

To address the funding needs, the Commission also introduced plans for three new taxes targeting electronic waste, tobacco products, and high-turnover companies. These measures are expected to generate between €25 billion and €30 billion annually to help repay post-Covid debts.

Despite his firm stance on taxation, Merz acknowledged a positive aspect of the Commission’s proposal. He commended Ursula von der Leyen, the President of the European Commission, for attempting to rebalance expenditure proportions, particularly in light of increased defense spending.

As negotiations unfold, the differing approaches to funding and fiscal responsibility among EU member states will likely shape the trajectory of the upcoming budget discussions. With Germany’s influential role in the EU, Merz’s objections could significantly impact the final decisions regarding the EU’s financial future.