Big Tech on Capitol Hill, house building costs rise, and complaints about IPL

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

A house building site in Ireland. The cost of building a three-bed semi-detached home in Dublin is now €371,000, according to the Society of Chartered Surveyors Ireland. Photograph: Alan Betson / The Irish Times

A house building site in Ireland. The cost of building a three-bed semi-detached home in Dublin is now €371,000, according to the Society of Chartered Surveyors Ireland. Photograph: Alan Betson / The Irish Times

 

Some of the biggest names in tech were grilled by lawmakers on Capitol Hill on Wednesday amid increased scrutiny of technology companies by lawmakers across the political aisle in Washington.

The cost of building a three-bed semi-detached home in Dublin is now at €371,000 with construction costs accounting for less than half the overall, according to the Society of Chartered Surveyors Ireland. Eoin Burke-Kennedy goes through the numbers.

On a related topic, the number of mortgages drawn down during the height of the lockdown of the economy fell by just more than one-third, new figures from the BPFI show. Charlie Taylor has the details.

Irish shareholders will press on with complaints to regulators against Toronto-listed plastics maker IPL but have welcomed news that Madison Dearborn is offering to buy the company for €350 million.Barry O’Halloran reports.

The Cosgrave Property Group has sold 368 apartments it is developing in Dún Laoghaire, Co Dublin to Deutsche Bank subsidiary DWS for about €200 million. Ronald Quinlan has the the details of the deal.

Financial Services Union general secretary John O’Connell will raise fears over a fresh wave of job losses in the banking sector in a meeting with Department of Finance officials today. Joe Brennan reports.

In Net Results, Karlin Lillington looks at the impact of the recent Schrems 2 judgement on data transfers from the EU to the United States for the adtech industry.

Google found itself back in the spotlight last week when research into a number of coronavirus contact-tracing apps, conducted by researchers at Trinity College, highlighted privacy concernsaround the Android system. Ciara O’Brien examines the evidence.

In our innovation feature, Olive Keogh talks to a new breed of Irish clothing entrepreneurs who want their businesses to be sustainable, affordable and ethical.

In our tech review this week, Ciara O’Brien takes a workout with Auro, an exercise app that promises to keep you keep you in shape without having to visit a gym.

Our New Innovator is Comh, which claims to tackle heightened anxiety from two angles using a combination of reflective journalling and live data. Olive Keogh reports.

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