The fourth of July is Independence Day in the US, but what people might not know is Canada just pips them with its national holiday being marked on July 1.

Ahead of that, the group that represents Canadian businesses in Ireland has surveyed its members to see what's on their collective mind.

Chris Collenette, director of the Ireland Canada Business Association, says there are about 72 Canadian companies in Ireland directly employing close to 14,000 people. Over the past three years, this number continues to grow at a 40% rate. 

Ireland's talent pool, close proximity, corporate tax rate and language are all attractions to Canadian firms. Collenette noted that new direct flights between Ireland and Canada through Aer Lingus  and other carriers have eased travel and transportation. 

Collenette's survey, however, identified limited expansion and talent as concerning issues. Looking to his Canadian background and experience, Collenette offered how Canadian benefits could translate to the Irish economy. 

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According to Collenette, the talent issue could be solved with the numerous talented women that have not gone back to work after giving birth could be tempted to return. In Canada, women are rewarded with a tax credit of $7,500 per child that increases the economy's restoration of talent. Ireland does not offer similar benefits as Collenette feels Irish women do not feel incentivised to go back into the work force. 

With regards to housing, Collenette said Canada's Housing Finance Authority and the Canadian Mortgage Housing Corporation partake in building properties. The Canadian economy lends money and funds directly to private sector builders to build rental units where supply is low and advised Ireland to do the same. 

Ireland can also learn from Canada's transportive structure that continually works to thwart municipal congestion. In Ontario, Canada's agencies are fully dedicated to solve congestion issues and have recently implemented a high speed rail initiative. Collenette noted that the national transport authorities have done fantastic in Dublin with the bus and bicycle quarters, but feels such services need to expand into Cork, Limerick and Galway.


MORNING BRIEFS - Glenveagh Properties has spent a combined €120m on four pieces of land, which it says could facilitate up to 2,780 homes. 1,000 of those could be build on a site in Cork's Docklands, with the remainder split across two sites in the Greater Dublin Area and one in Dublin's north docklands. Glenveagh says it has now spent €404m on land since it floating on the stock exchange in October

*** The value of European mergers and acquisition activity leapt by 96% during first six months of 2018 to $767 billion. That is the highest level in more than a decade - though the number of deals slid to its lowest since 2005 - indicating a rise in big budget deals.

*** eutsche Bank's US subsidiary has failed the second part of the Federal Reserve's annual stress tests - due to "widespread and critical deficiencies" in the bank's capital planning controls. The bank's financial health has been under intense scrutiny after Standard and Poors cut its rating and questioned its plan to return to profitability.