Makhlouf rates warning, Bord Gais Energy cut and is the new iPhone any good?

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

Banks should be quicker to pass on interest rate rises to savers, Central Bank governor Gabriel Makhlouf told the Oireachtas finance committee on Wednesday. Joe Brennan has the story.

Joe also reports that accountancy firm Azets Ireland, formerly Baker Tilly Ireland, has hired Deloitte’s former financial services head for Africa and a crisis-era general council at the Central Bank of Ireland as it builds out a financial services team under ambitious growth plans.

Pretax profits at data centre builder Winthrop Technologies increased almost six fold to €86.17 million this year. Newly-filed consolidated accounts for the Dublin-headquartered Winthrop Technologies Ltd show the business achieved the sharp increase in profits as revenues topped €1 billion for the first time. Gordon Deegan has the details.

Staying with data centres, a day after Amazon won planning permission for three new centres in Dublin, Ellen O’Regan looks at what’s next for the sector and if it’s sustainable.


The best use of public money in the forthcoming budget would be through targeted measures, the Irish Fiscal Advisory Council (IFAC) has told the Oireachtas committee on budgetary oversight. Jennifer Bray was watching the hearing.

Cantillon notes a warning from Gabriel Makhlouf on the future of the bank levy, while also pointing IFAC’s real concern about the Government’s budget policy.

In her column, Brooke Masters asks why so many chief executives get caught out for having personal relationships in work.

Logistics giant DHL has announced an €80 million investment in a biomethane production facility in Cork that will supply enough fuel to power a fleet of up to 150 trucks. Ciaran Hancock has the story.

CRH shares rose on the building materials giant’s last day of trading on the Irish market on Wednesday, drawing to an end an association with the exchange that goes back 87 years. Joe Brennan looks at the ramifications of the move.

The Irish arm of the French-owned sports retailer Decathlon reported a dip in profits for last year despite a rebound in sales as normal trading patterns resumed in the wake of the Covid-19 pandemic. Ian Curran reports.

Bord Gáis Energy, one of the largest energy providers in Ireland, is to cut the price of the current unit rate of gas and electricity by 15.5 per cent. Colin Gleeson reports on the move, which also sees standing charges on both fuels have also been reduced by 15.5 per cent.

Bord na Móna has reported a record operating profit of €95 million for the year to the end of March. Eoin Burke-Kennedy has read the accounts.

Former Frontline Ventures partner Finn Murphy is raising a $20 million (€18.7 million) fund to back start-ups in the US and Europe. Ciara O’Brien reports.

In Innovation, Chris Horn looks at a new technology that could preserve our data for a thousand years.

Finally, Ciara O’Brien reviews the new iPhone 15 Pro Max. Is it any good?

Stay up to date with all our business news: sign up to our Business Today daily email news digest. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.