Business Briefing: the news you need to know today

All the top stories from the Irish Times business desk this morning

The banking inquiry got underway yesterday. Former Canadian secretary general of finance Rob Wright will appear at it today.

The banking inquiry got underway yesterday. Former Canadian secretary general of finance Rob Wright will appear at it today.

 

Good morning

“Patient” is the new buzzword for the US Federal Reserve in describing its approach to raising interest rates, harking back to language last used in the Greenspan era which saw rates rise six months later. The change of language at the end of a two-day meeting - from a previous commitment not to raise rates for a “considerable time” - was seen as a sign of confidence in US economic growth but is likely to be a source of concern to fragile economies in Europe and Russia.

From Moscow, Isabel Gorst reports on a slight recovery in the rouble as Russia steps in to support its banking system.

Closer to home, Ireland’s largest hotel operator, Dalata, shows no sign of pulling in its horns as it confirmed its long-rumoured intention of acquiring most of the Moran’s Bewley Hotel Group in a 455 million euro deal. Ciarán Hancock has the details.

And, with Christmas looming, if you’re looking for a present that’s both useful and fun to use, Karlin Lillington has a list of personal favourites for the tech-savvy businessperson.

Today, the banking inquiry will hear from former Canadian secretary general of finance Rob Wright who reported in 2010 on the Department fo Finance and its actions around the time of the crisis. Ciarán Hancock and Steven Carroll will report live from proceedings. Also today the Committee of Public Accounts will quiz Nama officials on their sale of assets in 2013.

Dominic Coyle

Deputy Business Editor

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