‘Armchair investors’ rush to open stock trading accounts

Seen & Heard: Amazon leases first e-commerce warehouse in Ireland

An Amazon warehouse. The company has opened a 6,800sq m ‘delivery station’ at Greenogue Business Park in southwest Dublin with 20 staff. Photograph: Getty Images

An Amazon warehouse. The company has opened a 6,800sq m ‘delivery station’ at Greenogue Business Park in southwest Dublin with 20 staff. Photograph: Getty Images

 

Some stock brokers have had to put new customers on a waiting list, as “armchair investors are rushing to open trading accounts in the hope of picking up bargain stocks” due to Covid-19, reports the Sunday Times. Davy has reported an “uptick in new account inquiries” while Dutch discount broker DeGiro, favoured by many retail investors here, is running a waiting list.

Amazon warehouse

The Sunday Times also reports that Amazon has leased its first e-commerce warehouse in Dublin and is finalising plans to rent more space in the capital to allow for a significant expansion of operations. It has opened a 6,800sq m (73,194sq ft) “delivery station” at Greenogue Business Park in southwest Dublin with 20 staff, the first time it has directly hired workers here to handle online orders.

Revenue owed

Cityjet, an airline that has entered examinership, potentially owes Revenue up to €40 million, the Sunday Times says. An accountant’s report drawn up prior to it seeking court protection from its creditors outlines contingent liabilities of €39.3 million to Revenue plus €7 million in customs charges in Finland and Sweden.

Leon move

Former managing director of McDonald’s in Ireland, Adrian Crean, has joined the board of health-conscious fast-food group Leon in Ireland as it aims to open 20 outlets here. Mr Crean ran McDonald’s here from 2011 to 2017 and was most recently the managing director of the group that owns Eddie Rockets, the Sunday Independent reports.

Rent row

Irish chemist chain Hickey’s Pharmacy has had a row with property behemoth Hines over its rent on Grafton Street, according to the Sunday Independent. It reports that Hines sought full payment of Hickey’s €43,000 Grafton Street rent for April after the head of the group said it could only pay 10 per cent. Paddy Hickey wrote to politicians to describe Hines as “reminiscent of 19th century rack-renting landlords”.

Online off-licence

Hospitality group Press Up, run by Paddy McKillen jnr, will next week launch a new online off-licence service called Siopa Vino. The online brand will be available through takeaway delivery platforms including Deliveroo, Just Eat and Uber Eats, the Sunday Independent reports.

Debt burden

The deputy governor of the Central Bank, Ed Sibley, has said on radio that the State must not burden taxpayers with the losses of landlords and banks, the Sunday Business Post reports. The newspaper suggests the comments “show a level of concern among policymakers”.

Loan scheme

The Post also reports that An Post plans to launch a new “green loan scheme” for the retrofitting of houses to make them more energy efficient, and also for the purchase of electric cars. It will be part of a new “Green Hub” run by Sustainable Energy Authority of Ireland to provide project management and advice.

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