CRH’s NY welcome; will advertisers buy Kielty; and how to dodge bank scammers

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

CRH shares jumped over 3 per cent on their first day of trading on the New York Stock Exchange after chief executive Albert Manifold rang the opening bell, writes Joe Brennan. The company also said it is starting the third phase of a $3 billion (€2.82 billion) share buyback programme.

Good news also at Citigroup as it said on Monday that it is expanding its Irish commercial banking activities. However, Joe reports that the announcement comes at a time of mounting concern that staff in its European banking hub in Ireland may be caught up in wider job cuts being planned across the US banking giant.

In her media column, Bernice Harrison talks to advertising industry executives about new Late Late Show host Patrick Kielty and whether he can persuade the to part with their clients’ money.

And Ellen O’Regan travels south to talk to Ukrainian women who, displaced by the war in their country, have turned to building businesses in Ireland.


In Personal Finance this week, Fiona Reddan warns that banking scams are on the rise but reassures consumers that there are steps you can take to keep your money safe.

In Q&A, we look at the inheritance worries of a grandmother who has raised her granddaughter from birth but fears she may be taxed hard on anything she is left.

And as CRH settles down to life on the New York Stock Exchange, we run through a series of questions raised by readers in the past week or so.

Back on the news front, Colin Gleeson writes that Irish forklift manufacturer Combilift expects to generate more than €50 million in revenue per year in the offshore wind sector by 2026 after launching a new product targeted at large-scale manufacturers in the green economy.

New security laws and Beijing’s stance on the war in Ukraine are putting European investment in the country at risk, the European Union’s trade commissioner, Valdis Dombrovskis, has warned China, which has pooh-poohed his concerns. Denis Staunton reports.

Closer to home, European Central Bank president Christine Lagarde has warned interest rates may stay higher for longer as the bank battles to get inflation down to around its 2 per cent target even as the bloc’s economy struggles.

Northern Ireland builder McAleer and Rushe has secured a £60 million (€69 million) contract from Yara Capital to deliver a 196-unit residential development in east London, in a block that will reach up to 22 storeys involving build to rent and affordable housing units.

Lego has abandoned its highest-profile effort to ditch oil-based plastics from its bricks after finding that its new material led to even higher carbon emissions than its traditional manufacturing process.

Finally, shutting down the Irish arm of video game retailer, GameStop, cost about €13 million, the group estimates as it shuttered 35 stores, turned off its online presence and let 224 staff go. Gordon Deegan reports.

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