ICB resignations, Google gets campus green light, and Revolut to offer personal loans

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

An extraordinary general meeting to wind up the Irish Credit Bureau saw the chairman and another director quit, claiming the board had become "fractious" in recent years. The company lost the contract in 2015 to run the new Central Bank credit register to an Italian company, a decision that long-standing chairman Paschal Taggart alleged ICB's shareholders failed to fight because they were "petrified" of the regulator following the financial crash, according to sources who took part in the virtual event.

Google Ireland has been given the green light for its new company campus at Grand Canal Street Lower in Dublin to accommodate 1,700 workers.

Stripe cofounders Patrick and John Collison have bought a mansion in Co Laois, the Victorian Millbrook House, which is next door to the €11.5 million home purchased by John last June. The purchase comes with an obligation to restore the building.

Revolut has dropped plans to use the e-money licence it secured from the Central Bank of Ireland last year, and said it intends to use the banking licence awarded by the ECB last year to offer services – including personal loans – to Irish customers rather than the one approved by the Irish regulator. With fintechs frustrated by the time it takes to get authorisation from the Central Bank, Charlie Taylor asks if Revolut's e-money decision was prompted by an unfriendly environment.

Hybrid cars are now outselling diesel vehicles in new car sales, and all-electric sales are also on the rise. However, supply problems are hampering the market. Michael McAleer reports.

An Ibec group that represents the property and construction sector has called for the Central Bank's rules on mortgages to be scrapped, claiming a generation is being shut out of home ownership.

Traders are diverting more goods through Northern Ireland's ports to avail of looser post-Brexit checks, new freight figures from Belfast Harbour and Irish Sea shipping line Stena show.

In Commercial Property, developer Joe O Reilly is seeking €34 million for the Dublin headquarters of newspaper publisher MediaHuis. You can find all our commercial property news here.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist

READ MORE