Welcome to the Live News section of the Business Post. Keep up to date with current developments in business, technology and current affairs here.

9:35 a.m. – Banking federation says social platforms should verify ads before publishing them

The Banking and Payments Federation of Ireland (BPFI) has said social media platforms should be required to fact-check adverts for financial products before publishing them online, to combat fraud.

Before accepting an advertisement, platforms should check with national authorities that the company concerned is authorized to provide the financial product or service offered, specifies the federation. Businesses that do not complete the verification process should not be allowed to advertise financial services.

Read more from the Irish Independent

9:15 a.m. – Taxi industry calls on politicians to act on rising costs and VAT problems

A number of taxi representatives have written a joint letter to politicians calling for increased safety procedures, respect for a regulated market and an end to the VAT problems that have plagued drivers, reports Fionn Thompson.

The letter – which was signed by industry representatives from online forum Taxi Drivers Ireland, FreeNow and Lynk – called for operators to be required to charge Irish drivers, to avoid VAT obligations.

This is in response to an ongoing VAT issue with Uber, first revealed by the Business Post, which provides its services via the Netherlands, meaning drivers are required to pay their own VAT.

9:00 a.m. – Revenue crackdown on staff entertainment expenses

The Irish Times reports that a revenue crackdown on businesses submitting expenses for staff entertainment and hospitality is being described as “confusing” by businesses.

Revenue emphasizes that certain hospitality events represent a taxable benefit in kind (BIK). It is understood that they check the spending companies make on staff events to determine if there is a tax liability.

Chartered Accountants Ireland said businesses were “angry” at the tougher stance on the issue.

8:45 a.m. – Officials to examine impact of EU carbon tax on price of Irish electricity imports

A new taskforce is to be created to address concerns about the impact a new EU emissions tax could have on Ireland, Dominic McGrath reports this morning.

This comes amid warnings, previously reported by The Business Post, that the EU’s Carbon Border Adjustment Mechanism (CBAM) could have a major impact on the current level of cheap British electricity imports into Ireland.

Ireland’s electricity emissions are currently at a record high due to large imports of cheap British electricity, which are not counted in Ireland’s carbon footprint.

However, the tax will close the carbon price gap between the UK and EU, which currently leads to large imports of cheap British electricity into Ireland.

08:30 a.m. – Iseq opens its apartment

The Iseq All Share opened largely flat on Monday morning, with the index down 0.07 percent on the first day of the week.

Shares in FBD Holdings, Cairn Homes and Kingspan Group all fell slightly, while Permanent TSB led the chart with gains of 2.3 per cent, followed by Greencoat and Uniphar.

Pillar banks Bank of Ireland and AIB were also higher in early trading.

Vish Gain has the full market update this morning.

08:15 – X challenges Coimisiún na Meán’s online safety rules

Social media company Irish Times reports.

Twitter International Unlimited Company launched judicial review proceedings against media regulator Coimisiún na Meán on Friday.

The new Online Safety Code was launched by Coimisiún na Meán on October 21 and is a set of legally binding rules regulating the content of video-sharing platforms to protect users from harmful content.

The law provides for a period of 28 days to request a judicial review.

08:00 – Electric vehicle charging company Ohme partners with Energia

Cork-based charging company Ohme has been selected as the preferred electric vehicle charging partner for the Energia Group.

Ohme, established in 2017 by entrepreneur David Watson, has recently become the UK’s largest smart home charger for electric vehicles and has launched in France, Spain, Portugal, Italy, Germany and Australia.

As part of its latest partnership, Energia Group will recommend smart charging brand Ohme to its new electric vehicle customers.

The Irish Independent has more.

07:45 a.m. – The National Broadband Plan is halfway there with 300,000 premises connected

The National Broadband Plan (PNB) has exceeded half of the premises in its service area, with more than 310,000 premises having exceeded half of the 564,000 planned for connection.

National Broadband Ireland (NBI), the company responsible for delivering the rollout, said more than 420,000 premises will be connected by the end of next year.

Construction work is currently underway or completed for more than 480,000 premises, or 86 percent of premises.

The Irish Times has more.

07:30 – McDonalds to create 1,000 jobs in Ireland by 2028

Fast food chain McDonald’s plans to create up to 1,000 jobs by 2028 as part of a €40 million expansion plan, as first reported by the Irish Independent.

The brand has previously invested some €42 million in the Irish market between 2018 and 2023, through a combination of renovation and opening of new outlets.

The company, which directly employed 8,880 people in Ireland last year, contributed €414.6 million to the Irish economy in 2023, according to a recently published social and economic impact report.

Learn more here.

07:15 a.m. – Update on Asian markets: Mixed day on the markets

Markets were mixed in Asia overnight, with the 0.86 percent rise in Hong Kong’s Hang Seng Index bucking other trends.

The Nikkei 225 index fell 1.09 percent to 38,220.85, while the SSE composite index slipped 0.21 percent to 3,323.85. The Shenzen Composite Index saw the biggest decline, falling 1.91 percent to 10,544.02.

07:00 – Hello

Hello from the Business Post.

Eoin O’Hare is here with you today to keep you up to date with all the latest news.

We start this morning with my own story about how online searches by American users of real estate agency Savills Ireland saw a 342 percent increase in the week following Donald Trump’s election – with nine of the top 10 search-performing states voting Democratic.