Wall Street correction, row at Fulfil Nutrition and Amazon vs Facebook for Bankcentre
Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
Rout worsens: Traders on the floor of the New York Stock Exchange moments before the Closing Bell on Thursday. Photograph: Getty
A late sell-off on Wall Street last night led US stocks into official correction territory, with the worst of the rout coming towards the close. We’ll keep an eye on the impact on European markets, and particularly on the Iseq, as the day progresses.
Mark Paul has details this morning of a row that has broken out between the shareholders of Fulfil Nutrition, the fast-growing nutrition bar company. The disagreement concerns expansion plans.
Ciarán Hancock reports that Irish lender Dilosk, which bought the ICS brand from Bank of Ireland four years ago, is planning to raise at least ¤200 million to fund new buy-to-let mortgage lending.
Mark also reports on the future of AIB’s Bankcentre in Dublin 4, where both Amazon and Facebook are understood to be interested in taking space for their expanding Irish operations.
Google yesterday officially opened a new cloud computing hub in Dublin, marking a deepening in the company’s relationship with the Republic. Ciara O’Brien spoke to the tech giant’s Ireland head Fionnuala Meehan for this week’s Business Interview, discovering what it’s like to combine being boss to 7,000 with a love of heavy metal. She also learned about how the company is addressing recent revelations about its relationship with some of its contractors.
And amid all this FDI activity, John FitzGerald looks at the importance of our low corporation tax rate to multinational investment in the economy.
The Greek economy is the focus for this week’s Business Agenda, with Joe Brennan travelling to Athens to take the temperature of activity there in advance of a planned bailout exit in August. Apparently, medical cannabis and Chinese visas will both play a role in the exit process.
Caveat takes a forensic look this week at Conor McGregor, the MMA star whose self-professed desire to become extremely rich is leading him down several different business alleys.
Finally, if you’re one of those bosses who sends your staff emails at ungodly hours, you might want to read Olive Keogh’s advice on managing your time in a world that never stops moving. The key question to ask, she advises, is “does it have to be done right now?”
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