Opening Bell: Brexit eats fiscal space, Web Summit's new Irish event, George Clooney's $1bn deal

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The Economic and Social Research Institute (ESRI) expects the Irish economy to grow by 3.8% in 2017 and 3.6% next year.

It also forecasts that the average unemployment rate will be 6.1% in 2017 and fall to 5.4% in 2018.

However, the report also expects disruption caused by Brexit to have "significant implications for the fiscal space available in the budgetary process."


Theresa May is expected to provide her fellow European Union leaders with detail on the status and rights which the UK plans to offer EU citizens living in Britain after Brexit.

Attending her first European Council Summit since her disastrous general election, it is understood the British Prime Minister will explain the UK's "principles" on the issue of citizens' rights - a key early topic in the Brexit negotiations.

Her party's lost majority, weakened negotiating hand as well as the apparent division on what Brexit means among her own cabinet is raising questions in Europe about her stability as PM.

She will seek to reassure her fellow leaders of her commitment to a fair Brexit deal for both sides by presenting an overview of the UK's intentions regarding the estimated 3.2 million EU citizens currently living in Britain.

The two-day Brussels summit will predominately focus on counter-terrorism, common defence and security.


The Web Summit is to bring a new conference to Dublin focusing on money and technology.

MoneyConf will be held at the RDS, where its flagship European conference was held before it moved to Portugal, between June 11th and 13th next summer.

Web Summit founder Paddy Cosgrave confirmed the news at a press conference this morning.


George Clooney has sold his tequila company, Casamigos, to Diageo for $1bn.

He co-founded the company in 2013.

Diageo plans to expand the brand's international presence.