Tracker scandal fallout, the story of Intel in Ireland and ‘squeaky bum time’ on Covid-19

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

Ulster Bank’s building on Georges Quay in Dublin. The lender was charged a record fine by the Central Bank. Photograph: Alan Betson / The Irish Times
Ulster Bank’s building on Georges Quay in Dublin. The lender was charged a record fine by the Central Bank. Photograph: Alan Betson / The Irish Times

The tracker mortgage scandal hasn’t gone away for Irish lenders, nor is it likely to do so anytime soon.

Ulster Bank's record €37.8 million fine for its role in the miserable affair brings the total penalties levied by the Central Bank against all lenders to ¤81.6 million. But as its investigations continue, that total is likely to rise.

Joe Brennan also reports on how the regulator came close to resorting to the High Court to force Ulster Bank to co-operate properly with its tracker mortgage investigation into the lender.

In a big week for Intel's future in Ireland, Charlie Taylor tells the story of the chipmaker's 32-years-and-counting presence in the State, from the initial "whistle-stop tour" of potential locations by executives to its most recent investment in the mammoth Leixlip plant.

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Is it time to get Ireland building again? In our Agenda feature, Mark Paul talks to people in the construction sector hopeful that next week will bring the green light from Government to pick up tools once more.

And in Caveat, Mark writes that the Government is, to borrow Alex Ferguson's famous phrase, deep into "squeaky bum time" when it comes to plotting its path to reopening the country.

Apart from (presumably) the endless Zoom calls that now plague all our lives, what does a chief financial officer do? In our World of Work feature, Olive Keogh explores how CFOs today have moved beyond the mere keeping of the purse strings to become the architects of change in their organisations.

In his weekly column, John FitzGerald explores why a degree of economic optimism is creeping in even though unemployment is higher than it was in any previous Irish crisis. But alongside the likely spending boom, there could be even greater pressures in the housing market, and then, ultimately, a need to increase taxation.

And finally, Icon chief executive Steve Cutler has been chosen as the February winner of The Irish Times Business Person of the Month, an award run in association with Bank of Ireland.

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Laura Slattery

Laura Slattery

Laura Slattery is an Irish Times journalist writing about media, advertising and other business topics