McGrath on bank regulation, SCSI renovations warning, and Frascati Centre up for sale

Business Today: the best news, analysis and comment from The Irish Times business desk

Credit Suisse may have been bought, but that doesn’t mean the crisis is over. Minister for Finance Michael McGrath has warned there is “always a risk of contagion” spreading to Irish banks from crises abroad given the globalised nature of the financial system. Ian Curran reports.

National electricity grid operator Eirgrid could spend up to €270 million on consultants to advise it on work needed to open up the south coast for offshore wind farms, over the next eight years. Barry O’Halloran has the details.

The operator of the National Lottery is set to be put up for sale by its Canadian pension fund owner. Eoin Burke-Kennedy reports.

Global recorded music revenues increased 9 per cent last year to $26.2 billion (€24.3 billion), marking the eighth consecutive year of growth, with the market driven largely by higher revenues from paid audio subscription services as well as “resilience” in physical music sales. Laura Slattery has the story.


The tech job cuts keep coming, with Workhuman cutting about 10 per cent of its staff. Ciara O’Brien reports.

In his column, Martin Wolf looks at the fallout of the last fortnight’s banking crisis and asks what can be done to shore up lenders.

As the housing crisis continues, a new report seen by Eoin from the Society of Chartered Surveyors of Ireland warns renovating derelict properties is largely uneconomic.

Clare Council Council has suffered a setback in its ongoing legal row with a private firm over its €10 million annually Cliffs of Moher visitor centre business. Gordon Deegan reports.

Gordon also reports on South Dublin County Council has moved to prevent institutional investors bulk-buying houses and duplex units from a large new Glenveagh Homes residential development in west Dublin.

Customers of ICS Mortgages are facing a hike in their mortgage payments after the group announced a series of interest rate increases on Tuesday. Colin Gleeson reports.

Tigers Childcare has invested €4 million in an expansion that sees the group establish a presence in Cork and in Kildare for the first time, Dominic Coyle reports. The group, one of the largest childcare providers in the State, now has 19 centres with more than 300 staff catering to more than 2,100 children.

Dominic also has details on a clinical trial by Galway-based Neurent Medical on the safety and efficacy of a non-invasive therapy for millions of people suffering from chronic congestion and runny nose has delivered results showing significant improvement in symptoms for patients after three months.

In commercial property, Ronald Quinlan reports the Frascati Centre in Blackrock has been quietly put up for sale for about €100 million, while the Abbey Tavern pub in Howth has been sold.

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