The liquidator of Irish artificial intelligence company Altada, which collapsed in late 2022 owing some €21 million to investors and creditors, is considering asking the High Court whether a file should be prepared for the Director of Public Prosecutions (DPP).
In an update to creditors of the Cork-based company on Thursday, John Healy of Kirby Healy Chartered Accountants in Dublin said his investigations into the affairs of the firm and the conduct of the directors in the period leading up to his appointment by the High Court in early 2023 had “identified several matters of concern”. Ian Curran has the details.
If Donald Trump with the Fed’s independence and ability to control inflation, as he has done with most other federal institutions, lenders to the US government will recognise that their loans would rapidly lose value through inflation.
The bond market would retaliate, as they did to Liz Truss, by requiring very high interest rates on new loans. That would inflict serious economic and political pain, precipitating a US economic crisis during Trump’s second term, warns John FitzGerald in his Friday column.
Upon becoming Minister for Foreign Affairs last month, Simon Harris redirected department resources to setting up a strategic advisory panel in Washington while making the Ireland-US relationship the department’s top strategic priority. The goal was twofold: to gain early intelligence from US policymakers and business leaders on what US president Donald Trump was planning but also to try to influence policy in Washington directly, writes Eoin Burke-Kennedy in our weekly Agenda slot.
Irish rural broadband provider Imagine is set to make almost half of its Irish employees redundant, just weeks after the company was acquired by Armenia’s Team Group.
In a statement, the Dublin 18-based company, which is understood to employ some 112 people here, confirmed it has entered into a 30-day consultation period with staff over their future with the group. Ian Curran reports
At the Irish Times Business Awards in the mansion House in Dublin on Thursday Smurfit Westrock chief executive Tony Smurfit was chosen as The Irish Times Business Person of the Year for 2024, an award run in association with Bank of Ireland. Sharon Cunningham and Orlaith Ryan, the co-founders of Tipperary-based cancer drug company Shorla Oncology won the Future Leaders award while Irish listed food giant Kerry Group won the Deal of the Year and the Armada Hotel in Co Clare won Local Business of the Year. French restaurateur Patrick Guilbaud was also chosen as the recipient of the Distinguished Leader in Business award.
“Fresh, youthful, contemporary, energetic”, is how Padraic Rhatigan described the Radisson Red to Ciarán Hancock in our weekly interview slot. It is his stylish and edgy new four-star hotel in a fledgling development called Crown Square on the edge of Galway city. “Now all we need is customers.”
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