The Week in Review

Intercom cuts jobs, EY announces major split and Dublin council criticised over data centre ban

All the business news you need to know, from the week that was

EY’s Irish workforce, as well as its 120 equity partners, will be split roughly in half as part of the firm’s plan to divide up its audit and consulting businesses. Picture: Getty

ECB hikes interest rates again

The European Central Bank raised its key interest rates by an unprecedented 75 basis points and signalled further hikes, prioritising the fight against inflation even as the economy is heading for a likely winter recession. With inflation at a half-century high and approaching double-digit territory, policymakers are worried that rapid price growth could become entrenched. Following up on its July rate hike, the ECB raised its deposit rate to 0.75 ...