We are wealthier than the boom, and is there a retail apocalypse?
Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
Gareth Lambe, head of Facebook Ireland, talks to Ciarán Hancock. Photograph: Dara Mac Dónaill /The Irish Times
Irish households are, on paper at least, more than 75 per cent wealthier than they were at the low point of recession, writes Eoin Burke-Kennedy. According to Central Bank’s latest quarterly financial accounts, the net worth of Irish households hit a record €757 billion in the second quarter of this year, eclipsing the pre-crash peak of €719 billion reached in the second quarter of 2007.
US private equity giant Lone Star’s plans for the €300 million-plus initial public offering (IPO) of an Irish housebuilding firm have been put on hold until next year, following a ‘red October’ sell-off of equities globally last month, according to market sources. Joe Brennan reports.
Does the ever-swelling online shopping tide mean it’s a retail apocalypse for traditional store? Mark Paul takes some soundings.
Our Friday columnist John FitzGerald says that recovery is faster when the tough medicine is taken quickly. He also tells us that low interest rates had a part to play as well.
As the news broke that Facebook had acquired AIB’s campus in Ballsbridge Ciarán Hancock met Facebook Ireland chief Gareth Lambe and hears about the future for the social media company; the housing crisis in Dublin and the Cambridge Analytica fiasco.
In Wild Geese, we hear how Rosemary Dooley started her own legal business in New York and about “the work, hard, play hard” ethic of the city.
Olive Keogh tells us that companies need to get succession races right, as a botched one generate a toxic atmosphere.