Ulster Bank could close, consumers remain cautious, and Decathlon booms

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

Sign of the times? Ulster Bank’s parent is considering winding down the lender. Photograph: Nick Bradshaw STOCK
Sign of the times? Ulster Bank’s parent is considering winding down the lender. Photograph: Nick Bradshaw STOCK

The Irish financial world was rocked on Thursday evening by news that Ulster Bank's UK parent is considering winding down the lender in the Republic. Joe Brennan has all the details, including union reaction, and also explains what's behind the surprise move.

Joe reports too on the latest from the State's competition watchdog, which said it has "reasonable grounds" to suspect that some Irish motor insurers broke anti-trust laws in 2015 and 2106.

Mark Paul, in his Caveat column, judges that the Government will face a very difficult task when it comes to unravelling the spider's web of deciding which businesses to save and which to condemn.

One business that doesn't seem to be suffering too much is Decathlon, which says almost 300,000 people have passed through the doors of its Dublin store in Ballymun since it opened in June. Peter Hamilton has that story.

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Consumers meanwhile are feeling cautious about prices, according to a new KBC Bank survey. The data shows that we believe the cost of living is rising at a higher rate than is suggested by official figures. Eoin Burke-Kennedy reports.

John FitzGerald is looking to the US this week, specifically the dynamics behind Irish emigration to the land of the free, and its impact on US politics. He points out that US presidents tend to be much more ready to claim Irish descent than German roots, for example.

Has your promotion track been blocked by Covid-19? Olive Keogh has some advice on how to handle career blockages this week, noting that the experience of lockdown persuaded many that it's time for a switch.

And if that doesn't make a difference, you could always follow in the tracks of Dubliner Niall Kavanagh, who went through various jobs at home before deciding "to do something different altogether" and move to Nepal. This week's Wild Goose, he is now one of only a handful of Irish people to live permanently in the country, where he has worked in the non-profit sector.

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Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is Digital Features Editor at The Irish Times.