ODCE’s Sean FitzPatrick trial report, Press Up interview and an auditing shift

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

Ian Drennan of the ODCE pictured arriving for a hearing of the Oireachtas Committee on Business, Enterprise and Innovation earlier this year. Photograph: Dara Mac Dónaill

The State's corporate law watchdog, Ian Drennan, says he will be "protected" from legal action if he is forced to give legislators a dossier into the collapse of the trial of Sean FitzpPatrick, former chairman of Anglo Irish Bank.

Mark Paul reports that Mr Drennan, who heads the Office of the Director of Corporate Enforcement (ODCE), referred to the matter in the office’s annual report on Thursday. The trial dossier, which runs to 450-pages, is unpublished, but Oireachtas members have been seeking changes to the law that would see Mr Drennan compelled to hand it over.

Auditors should have to form a view on the long-term viability of companies they're scrutinising and then make this position publicly available, according to Chartered Accountants Ireland. Peter Hamilton has details of the accountancy body's view, which it has submitted to a UK review into the area.

State-owned Irish Water received €1.1 billion from the Government last year while its parent company Ervia gave €139 million to the exchequer, writes Barry O'Halloran. The figures are contained within Ervia's annual report, which also shows that Irish Water spent €683 million on the Republic's water supply system in 2018.

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British property group U+I and joint venture partners, Colony Capital, have broadened their footprint in Dublin 4 by buying 23 Shelbourne Road for more than €25 million. Ronald Quinlan has the story.

A leading insurance broker that caters for hundreds of small businesses has called on the Government to overhaul the current system for minor injuries awards, proposing that claimants are paid only medical costs and loss of earnings in a bid to deter "overly litigious" claimants. Ciara O'Brien reports.

Our Business Interview this week features Matt Ryan, the co-founder with Paddy McKillen jr of Press Up Entertainment Group, which hit the headlines last month in relation to Fine Gael TD Maria Bailey's fall from a swing at the Dean Hotel. A self-confessed "hustler", Mr Ryan tells Ciarán Hancock about the group's ambitious investment plans, managing its 42 different businesses and unwinding on his 100-acre farm in Wicklow.

In our Business Agenda, Eoin Burke-Kennedy looks ahead to Budget 2020, which sees the Government facing the twin potential challenges of an economy prone to overheating and a hard Brexit. The thorny topic is also addressed by John FitzGerald in his economics column.

In his Caveat column, Mark Paul reflects on comments made by Independent News & Media director Kieran Mulvey as the group rubber-stamped its takeover by Mediahuis earlier this week. Mr Mulvey, the director nominee of Denis O'Brien, was highly critical of web giants such as Facebook for "hoovering up" advertising revenues from traditional media. The position, suggests Mark, is similar to views previously expressed on the subject by Mr O'Brien.

Seattle-based Donny Foy is this week's Wild Goose. The Mullingar man explains to Michelle Jackson how he founded his electrician business in 1999 with a contract that involved working through the night. His company now services the entire Washington state region.

And finally, as summer holidays approach for many, Olive Keogh looks at burnout at work, offering tips on how to identify it before it's too late.

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Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times