Opening Bell: Central Bank's Brexit warning, pound struggles, Google's big launch

Get up to speed with today's breaking Irish and international business news

The Central Bank is warning that companies will have to have a 'real' presence in Ireland if they want to set up here after Brexit.

Director of Policy and Risk Gerry Cross told a Deloitte briefing last night that the regulator will want to ensure the board and management of a business are located in this country.

"We stand ready to do our job; we are open for engagement. We will do so on the basis of an active, open stance, ready to engage, but in line with our duty to protect consumers, and in keeping with international standards," he said.

Ireland is being seen as potential new location for businesses looking to leave the UK once they quit the EU.

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Google's biggest ever hardware launch takes place today, new phones, Chromcasts and smart home technologies are expected to be unveiled.

The Pixel and Pixel XL are due to replace the Nexus phone range. The devices are reported to have 12-megapixel cameras, fingerprint scanners, and larger batteries.

It is also expected that Google will enter the VR-game with a headset of its own. This will place it against the Oculus Rift, HTC Vive and Samsung's Gear VR.

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Sterling dropped to a three year low against the euro and close to a 31-year low against the US dollar.

One euro currently buys 87 pence, while a dollar buys 78 pence.

This drop comes after Theresa May set a March deadline for the triggering of Article 50 which will formally being the UK's process of leaving the European Union.

Taoiseach Enda Kenny will brief the Cabinet today following Ms May's announcement.

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Facebook has taken on E-bay and Amazon by launching Marketplace. The new service will facilitate peer-to-peer selling among users.

Its initial roll-out will be in US, UK, Australia, and New Zealand.

Users will have customised homepages on the service, based on their likes, connections, and interests.