Brown Thomas/Arnotts for sale, new laws for bankers, and expensive Ireland

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

The Brown Thomas department store on Grafton Street in Dublin. Brown Thomas and Arnotts are part of the UK-based Selfridges group, which has been put up for sale by the Weston family in Canada for €4.7bn. Photograph: Gareth Chaney/Collins

The Brown Thomas department store on Grafton Street in Dublin. Brown Thomas and Arnotts are part of the UK-based Selfridges group, which has been put up for sale by the Weston family in Canada for €4.7bn. Photograph: Gareth Chaney/Collins

 

Minister for Finance Paschal Donohoe will today publish a long-delayed outline of proposed laws to make it easier for the Central Bank of Ireland to fine and disqualify senior managers in banks, insurers and other financial firms for failings under their watch. Joe Brennan has the details.

The owner of the Brown Thomas and Arnotts department stores in Ireland has been put up for sale. The Weston family in Canada has appointed Credit Suisse to lead the sale process for the Selfridges group, with a price tag of £4 billion (€4.7 billion) being placed on the business, according to a report in the Guardian.

Some 9,625 new mortgages to the value of €2.23 billion were drawn down by borrowers in the second quarter, new figures compiled by the Banking and Payments Federation Ireland show. Charlie Taylor reports.

Social video platform TikTok is to create 50 additional jobs in Dublin as it opens a European cybersecurity centre, writes Ciara O’Brien.

A new platform that allows users to find a solicitor and conduct legal consultations online has been established. Eoin Burke-Kennedy has the details.

How expensive is Ireland? In our personal finance feature, Fiona Reddan looks at the cost of everything from drinks to clothes, and from housing to transport.

In Q&A, a reader wonders what the departure of Ulster Bank from the Republic’s banking sector will mean for their tracker mortgage? Dominic Coyle offers some guidance.

In her media and marketing colum, Laura Slattery looks at the pros and cons of taking up Apple’s offer to stop apps from tracking our mobile activity.

In Me & My Money, Irish Olympic swimmer Shane Ryan reveals how an air fryer has been his best value purchase to date.

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