Datalex chief calls out EY, Castlebar family sues bank and developers withdraw appeal

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

Sean Corkery: noted EY’s absence from Datalex’s shareholder meeting on Thursday  Photograph: Tom Honan
Sean Corkery: noted EY’s absence from Datalex’s shareholder meeting on Thursday Photograph: Tom Honan

Datalex's new chief executive told a shareholder meeting on Thursday that its former auditors, Ernst & Young (EY), were "conspicuous" by their absence. As Joe Brennan reports, Sean Corkery made the comments in light of EY's decision last year to decline an opinion on the beleaguered travel retail software company's 2018 accounts.

Three leading Irish property developers have withdrawn their appeal to an EU court relating to a complaint that Nama's financing of its clients' residential projects breached state-aid rules, reports Ciarán Hancock. The case involved Michael O'Flynn, Paddy McKillen and David Daly.

A Castlebar-based family is suing Bank of Ireland over its decision to move them from a tracker mortgage, a move which ultimately led to the loss of their home. Peter Hamilton has the details on this, also taking an in-depth look at the issue in this week's Agenda feature.

Barry O'Halloran reports that UK prime minister Boris Johnson wants the all-Ireland electricity market subject to a Stormont veto in his Brexit deal proposals. The proposed measure is included within the UK's suggested alternative solution to the backstop.

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John FitzGerald is also writing about power this week, notably what the announced major funding for a new electricity interconnector to be built between Ireland and France says about political relationships.

In his Caveat column, Mark Paul considers surging US Democratic presidential candidate Elizabeth Warren, who is said to have a plan to reduce the power of online giants such as Facebook and Google. He argues that, in turn, the State should have a plan on how it would react to such a move in light of the huge presence big tech has in the Irish economy.

Brian Kavanagh, chief executive of Horse Racing Ireland, features in this week's Business Interview. He tells Barry O'Halloran how dependent the Irish horse racing industry is on the economic situation in the UK.

And finally, do you work in a toxic workplace, ridden with politics, unfairness and micromanagement? In our Work section, Olive Keogh has some advice on how you can deal with it.

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Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is Digital Features Editor at The Irish Times.