Wednesday 17 July 2019

Ely restaurant closing

the Ely gastro bar at Dublin's Hanover Quay is to shut its doors on Monday.

Danske Bank foreclosed on the Ely group's mortgage on the property after deciding to pull out of Ireland, and the property has now been sold by receivers Grant Thornton.

Ely Restaurant Group said its other restaurants in the IFSC and Ely Place in Dublin are unaffected, and that no jobs will be lost as a result of the closure.

Digital Hub council deal

Dublin-based enterprise cluster The Digital Hub is to merge with Dublin City Council (DCC), Energy, Communications and Natural Resources Minister Alex White announced yesterday.

The hub - which is seeking to redevelop a number of sites in the city - will still be an independent company.

"We are already working closely with DCC on the management and development of property, local urban regeneration and the city's reputation as a world-class centre for the high-tech industry," Digital Hub chief executive Gerry Macken said.

"The transition to DCC will strengthen existing relationships further and will accelerate the many benefits that can be expected from such a move," he added.

US confidence up

US consumers are more confident about the future than at any time since 2003, as lower fuel prices and improved job prospects boost the outlook for the wider economy. Data from the University of Michigan showed that its preliminary consumer sentiment index rose to 98.2, the highest since January 2004. That was up from 93.6 in December.

The consumer sentiment report is considered a key barometer of the prospects for the US economy in the short term. The 98.2 figure was well ahead of most analysts' forecasts, who had been expecting an average number of around 94.

Goldman profits dip

US Investment bank Goldman Sachs - which is advising the Department of Finance on a potential sale of the State's stake in AIB - reported a 7pc drop in fourth-quarter profit as an unexpected bout of market volatility in December hit its bond-trading business.

The volatility was caused by factors ranging from plunging oil prices to weak global economic data.

Irish Independent

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