Opening Bell: Retail rent rises, Brexit and social media, ditching office Christmas parties

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Retail property rents are entering a phase of slower growth - but increases of between 7% and 10% are predicted over the next 2 years according to a new report from property consultants, Savills Ireland.

Dr. John McCartney, Director of Research at Savills Ireland commented:

“Rents in some prime shopping locations have already risen by more than a third over the last three years. As the retail economy transitions from its early recovery phase to a sustainable growth phase, base effects are inevitably going to dampen the annual percentage increase in rents.” 

The report also identifies a notable softening in some short-term indicators such as retail sales, VAT receipts and consumer sentiment over the last year.

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New research has revealed 93% would rather get a Christmas bonus than a Christmas party.

The research also shows the majority of Irish job seekers in the private sector are unhappy with the salaries in their current jobs and are planning to ask for a pay rise or to change jobs within the next 12 months.

2017 will be the year of the job change, with 57% of workers planning on looking for a new job. 73% are positive about the economic outlook, and feel the job market has improved.

Over 61% will up-skill in 2017, with 25% updating their IT skills.

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Almost half of people who backed 'Remain' in the Brexit referendum think the Leave campaign would have failed if the vote had taken place before Facebook and Twitter were invented.

A survey's found the UK as a whole believes social media played an important role in Donald Trump's election as US president.

49% think his victory would have been unlikely without social media, compared to 16% who thought it likely.

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Foreign Secretary Boris Johnson will today deliver a speech intended to drive home the message that Britain remains a powerful force in global politics.

Speaking at Chatham House, the spiritual home of international affairs in London, Mr Johnson will insist: "Brexit emphatically does not mean a Britain that turns in on herself.

"Yes, a country taking back control of its democratic institutions but not a nation hauling up the drawbridge or slamming the door, a nation that is now on its mettle."

European leaders have called for greater clarity on Britain's plans to exit the EU.