Today's business new headlines
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What are the top business headlines this morning on Breakfast Business?
Breakfast Business with Enterprise Ireland on Newstalk. Good morning and welcome to Breakfast Business and thank you to Eamon Torsney. It is Tuesday, the 7th of October at 6.30. Welcome to Budget Day, folks, for those of you who celebrate. Coming up on today's show, needless to say, we'll be looking at what to expect in the budget this afternoon and we'll get the perspective from SMEs about what they need to see and all the markets as usual. You can email us, business at newstock.com. But first, let's have a look at the main business stories in the newspapers and websites. Martin Claffey in the Irish Examiner reports that Ireland's first Wendy's restaurant opens at Mahan Point Shopping Centre in Cork today.
The chain's first location under a partnership with Corab Oil. The restaurant will create 50 jobs and over the next few years, Corab plans to open 10 Wendy's locations across the country as both standalone Wendy's restaurants and at Corab Oil service stations, creating more than 300 jobs. Coraboyle currently operates 40 convenience stores with four courts and 20 fuel depots across 17 counties. The partnership with Wendy's is a key part of Coraboyle's broader expansion strategy in Ireland, which aims to more than double its national footprint to 100 locations by 2030 and continue to grow its home heating distribution and fuel card business. The Wendy's brand is best known for its square hamburgers, spicy chicken sandwich and the frosty dessert.
John Burns in the Irish Independent reports that the American Chamber of Commerce has told the Irish government it should improve a tax incentive designed to lure highly skilled and well-paid international workers to Ireland. The Special Assignee Relief Programme, or SARP, was introduced over a decade ago, giving relief in income tax on 30% of a salary over €100,000.
What should listeners expect from Budget Day coverage today?
about 2,600 foreign executives avail of the scheme, which is due to expire for new arrivals at the end of the year. In a submission to the Department of Finance, AmCham said a substantial improvement to the SARP regime could be achieved by simplifying it and lowering the entry threshold. It pointed out that SARP is a critical enabler of Ireland's offering to FDI, particularly in light of the country's high personal tax burden. It is designed to attract internationally mobile talent, particularly senior executives and tech specialists, the lobby group said.
Tesla has delayed rolling out a lower-cost version of the Model Y in the U.S.,
The company said in June that it had made first bills of the vehicle, but would start selling it in the fourth quarter and ramp up output slower than planned. The stripped down version is designed to be roughly 20% cheaper to produce than the refreshed Model Y and could scale to about 250,000 units a year in America by 2026, according to Reuters. Breakfast Business with Enterprise Ireland on Newstalk.
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