Coronavirus, Bank of Ireland’s property moves and the problem with land hoarding

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

A woman wears a face mask to protect against coronavirus in Los Angeles yesterday. The number of Irish patients suffering from the illness is rising, as is the likely cost to business. Photograph: AFP via Getty
A woman wears a face mask to protect against coronavirus in Los Angeles yesterday. The number of Irish patients suffering from the illness is rising, as is the likely cost to business. Photograph: AFP via Getty

As the number of Irish coronavirus cases continues to rise, State officials are looking at financial supports for companies affected by the outbreak. Simon Carswell, Charlie Taylor and Joe Brennan report on comments made by a senior civil servant on Thursday, also bringing details of a Central Bank employee being tested for the virus.

In his Caveat column meanwhile, Mark Paul considers not only the economic but also the reputational risks attached to the spread of the virus. It is difficult to see at this point, he writes, how the St Patrick's Festival can possibly go ahead, with the hits to business tourism likely to keep on coming.

Bank of Ireland is considering exiting one of its three central Dublin hub offices to reduce its footprint in the capital and cut costs, reports Joe Brennan. The lender is understood to be looking to exit the lease on the Burlington Plaza 2 premises.

More than 130 backers of Irish start-up Fleet have seen their original investment soar in value after the company recently raised nearly £350,000 (€406,382) in a crowdfunding round that values it at over £3 million, writes Charlie Taylor.

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Charlie also reports on plans by the company behind Dr Pepper and 7Up to create 50 jobs in Co Kildare.

Francess McDonnell has the latest on Flybe, the UK airline that has collapsed into administration. It emerged yesterday afternoon that Loganair would take up two of the defunct airline's many Belfast routes.

There is a prevailing narrative on why high-density housing, the standard across much of Europe, is not cost-effective here, but is that the whole story? Eoin Burke-Kennedy delves deeper into the problem with housing in this week's Business Agenda, focusing particularly on the issue of land hoarding.

Our Business Interview features Eoin Blacklock and Jonathan Crowe, the founders of Ekco, formerly Internet Corp, possibly the lowest profile Irish multinational in existence. The two tell Mark Paul what it's like to run a global IT business from above a women's fashion shop in the small north Dublin seaside town of Malahide.

John FitzGerald considers the labour market in his Economics column, assessing developments since the crash, with a particular focus on the role of women in the construction sector.

In our Work section, Olive Keogh outlines the danger attached to confusing management with leadership. How many of us, she asks, have been micro-managed to the point of annoyance?

Finally, in Brexit Proof, Paul O'Sullivan of knitwear maker IrelandsEye tells Ruth O'Connor that the business is increasingly targeting sales in mainland Europe, where he reckons customers might be happier than ever before to source EU products.

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Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is Digital Features Editor at The Irish Times.