Opening Bell: Dublin rent's breaking point, Buffett’s Apple gamble, compensating Irish VW drivers

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IRES Reit chief executive David Ehrlich has warned that rents in Dublin are reaching "the limits of sustainability."

The company is Ireland's biggest landlord - he openly addressed the wild nature of the capital's rental market when talking to the Irish Independent.

"We all know what happened before - construction essentially stopped and now we have this huge issue around supply,"  he told the newspaper, adding that he looks forward to hearing the proposals from the new Housing Minister, Simon Coveney.

Mr Ehrlich hopes that IRES will be involved if there is a consultation process to deal with the rental market.


Warren Buffett’s Berkshire Hathaway Inc. has revealed that it has invested $1bn in Apple - boosting the Californian tech firm's market value by more than $18bn according to The Wall St Journal.

The influential investor generally avoids technology stocks and this move comes at a time when iPhone sales have dipped and Apple shares have suffered a series of sell-offs.

Four years ago Mr Buffett specifically ruled out investing in the company.

The move is believed to have been instigated by Todd Combs or Ted Weschler, two of the 86 year-old's Berkshire protégés.

Apple shares closed up by 4% last night.


Fine Gael MEP Deirdre Clune has called on Volkswagen to compensate the more than 100,000 Irish motorists who were affected by the company's emission cheating scandal.

Ms Clune is a member of the EU Transport Committee, she said the company "cheated its customers."

"VW customers in the US are to receive compensation, in the form of a mass buyback of affected cars, as well as compensation and committing funds to promote green automotive technology.

"I am calling on Volkswagen Ireland to begin engaging with its Irish customers as to a similar scheme of compensation immediately. Volkswagen’s offer thus far has fallen short of what is expected from a responsible manufacturer. Their inaction in Europe is an affront to their loyal customers," she added.


Gardai are marching on the Dail today - it's the first action by the AGSI in a row over pay for new recruits and the slow rate of pay restoration for existing members of the force.

They're due to meet at Dublin Castle at 11:00am and to arrive at the Dail at midday. Members will not wear their uniforms.

The group says members have taken a 25% pay cut since 2008 and face another increment freeze on July 1st.

The General Secretary of the AGSI John Jacob says Gardai need to be properly paid for putting themselves at risk: