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Ireland to receive biggest share of EU Brexit fund

Ireland is set to receive the biggest share of the €5 billion EU Brexit fund, after a provisional agreement was reached today. Ireland will get over €1 billion ...

Sinn Féin seeks to amend plans for moneylender rate cap

Sinn Féin is seeking to amend a new piece of legislation it has proposed that aims to cap the interest rate charged by moneylenders. Currently, moneylenders can charge ...

Mortgage arrears continue to edge lower – Central Bank

New figures from the Central Bank show that the number of homeowners in mortgage arrears for more than 90 days fell to 5.2% at the end of March, ...

Food service market recovery slower than forecast

The food service market here will not return to the levels it was at prior to the Covid-19 pandemic until the end of next year, according to Bord ...

ISME: PUP acting as a ‘brake’ on getting workers back

Small and medium Irish employers are warning that the Pandemic Unemployment Payment (PUP) is acting as “a significant brake” on returning workers in certain sectors of the economy ...

Home prices see annual increase of 4.5% in April – CSO

The price of residential property increased by 4.5% in April, according to the latest figures from the Central Statistics Office. This compares to an increase of 3.5% in ...

Numbers claiming PUP down almost 18,000 on last week

The number of people receiving the Pandemic Unemployment Payment has fallen to just over 267,000 – a decrease of almost 18,000 over the last seven days. The drop ...

EU excludes major banks from bond sales

The European Union has excluded some of the biggest investment banks with past involvement in breaches of antitrust rules from syndicated debt sales backing its up to €800 ...

Should you buy or rent? 5 key questions to ask

A dilemma is a situation in which a difficult choice has to be made between two or more alternatives. It is precisely what is facing a vast cohort ...

EU’s commitment to Good Friday Agreement ‘unwavering’, says Gentiloni

Paolo Gentiloni, EU Commissioner for Economy, has said the EU’s commitment to the Good Friday Agreement is “unwavering”. Commissioner Gentiloni made his remarks in an online address to ...

Employees want flexibility in where and when they work, survey finds

Over half of employees would consider leaving their job post pandemic if they are not given some form of flexibility in where and when they work, according to ...

Traffic volumes rise in May as Covid travel curbs ease

New figures from the Central Statistics Office show that the volume of cars on Irish roads has been rising slowly since the start of the year after the ...

Construction activity bounces back, but costs soar

Activity in the construction sector expanded for the first time this year in May, according to Ulster Bank’s latest Purchasing Managers’ Index. The index, which is designed to ...

Lack of online services saw 1 in 3 closing credit union accounts – survey

Around a third of people surveyed by a company that provides technical expertise to the credit unions sector said they had closed their credit union accounts because of ...

Is now a good time to lock into a 20-year mortgage?

Appearing before an Oireachtas Committee at the end of 2016, the then chief executive of Bank of Ireland more or less admitted that the bank was deliberately keeping ...

Ireland to make strong case for tax competition, says Donohoe

Finance Minister Paschal Donohoe has said that Ireland will be vigourously making the case for tax competition and for maintaining a corporate tax rate of 12.5%. In negotiations ...

NAMA increases projected lifetime surplus to €4.25 billion from €4 billion

The National Asset Management Agency (NAMA) now expects to provide an overall surplus to the Exchequer over its lifetime of €4.25 billion, up from the previous estimate of ...

ECB lifts euro zone growth and inflation projections

The European Central Bank has raised its growth and inflation projections for this year and next as the euro zone economy started to roar back to life after ...

Central Bank’s Rowland says onus on firms to set the right standards

The Central Bank’s Director General, Financial Conduct, has said that increasing evidence in the financial services sector shows that ineffective culture is bad for business – both for ...

NTMA raises €1.25 billion in bond auction

The National Treasury Management Agency has raised €1.25 billion this morning in an auction of Irish bonds. Today’s auction brings the total raised by the NTMA so far ...

Supply shortage, rising costs could impact housing affordability – BPFI

A combination of lack of housing supply and rising construction costs could exacerbate property affordability issues in the years ahead, according to the Banking and Payments Federation Ireland. ...

Too early to reconsider 2m rule in workplaces – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Government would like to see people return to the workplace as soon as possible, but for now ...

Pandemic Unemployment Payment claims at six-month low

The number of people claiming temporary Covid-related jobless benefits fell by 8% to 285,000 this week, its lowest level since December last year, new figures from the Department ...

Euro zone economic dip milder than expected in first quarter

The euro zone economy contracted by much less than expected in the first quarter of the year, revised data from the EU’s statistics office showed, with a buildup ...

Is Ireland about to lose over €2 billion a year in tax revenue?

Minister for Finance Paschal Donohoe at the G7 meeting in London Over the weekend, finance members from the G7 nations backed a move which will could see the ...

Consumer confidence hits 23-month high, as optimism builds

Consumer confidence hit a 23-month high this month, according to KBC Bank Ireland’s latest consumer sentiment index. The index rose to 85.8 in May from 77.9 in April, ...

Tax increases needed to fund public services – ESRI

The Economic and Social Research Institute has said “sizeable tax increases in the years ahead” will be needed to fund public services. In a paper published today, the ...

Euro zone economy not near ‘super bounce back’ – Lane

The chief economist of the European Central Bank Philip Lane has said he does not believe economies are “entering some new inflationary environment”. He said there is “zero ...

Firms pledge to improve diversity, inclusivity in workplace

New research has found that a person with a disability is four and-a-half times more likely to be unemployed than those in the general population. The study also ...

Prospective buyers unhappy over omission of apartments from scheme

Demand is high and supply remains low. That’s the stark reality of the country’s housing market. The Government hopes its proposal to introduce a stamp duty charge of ...

Personal injury reforms to ‘positively’ impact premiums – Zurich CEO

New personal injury guidelines for the insurance industry will “positively” impact premiums, according to the CEO of Zurich Ireland. Anthony Brennan said in the coming weeks, the company ...

Donohoe defends 10% stamp duty proposal on bulk buying

Minister for Finance Paschal Donohoe has defended the decision to exempt apartments from the Government’s proposal to introduce a stamp duty charge of 10% on the purchase of ...

Post-Covid ‘balancing act’ the next challenge for business

A new survey shows that 43% of organisations overall reported that absenteeism fell during 2020. This figure was even higher in the public sector at 59%, according to ...

EU proposes ‘business-friendly’ unified tax rulebook for companies

The European Commission has proposed new corporation tax rules in Europe that could allow companies to file one tax return for all its operations in the EU. The ...

Over 95% of workers support some form of remote working – survey

Over 95% of workers now favour some form of remote working, with fewer than 5% wanting a full-time return to the office, according to the Second Annual National ...

Cabinet to discuss proposals to prevent bulk buying of homes

The ministers for Housing and Finance are expected to bring proposals to the Cabinet this morning to prevent the bulk purchase of housing estates by investment funds. Minister ...

Claims on health insurance plans fall by almost a third

THERE has been a sharp drop in the number of claims made on health insurance plans due to the pandemic restrictions. The Covid-19 outbreak has also seen the ...

Progress made on internal bank culture but public trust levels remain low

There is ‘a very substantial number of customers’ who believe that banks handle their data securely, according to the chair of the Irish Banking Culture Board. The board ...

Majority of businesses stable or in growth mode – IntertradeIreland

Nearly two thirds of businesses surveyed by InterTrade Ireland said they are in stable or growth mode, in a further sign that recovery is taking hold. Optimism levels ...

Most businesses plan return of employees to workplaces within three months – Ibec

More than three quarters of businesses are planning to return employees to their workplaces within the next three months if Government guidelines allow, a new survey by the ...

NTMA raises €1.5bn as bond yields creep up again

The National Treasury Management Agency (NTMA) successfully raised €1.5bn in an auction of benchmark Irish government bonds this morning. The three bonds, maturing in 2031, 2033 and 2050, were ...

Donohoe says more must be done to help first time buyers

Minister for Finance Paschal Donohoe has said he appreciates the urgency of Ireland’s housing situation, and he acknowledged that the Government must do more to alleviate the challenges ...

Consumer prices rise for first time since start of pandemic – CSO

The annual rate of consumer inflation rose by 1.1% in April, according to the latest figures from the Central Statistics Office. This marks the first positive annual rate ...

Talent exodus could cost business up to €1.2 billion

55% of employees are looking to change roles in either the next six or 12 months or once the economy has strengthened, new research from HR firm Personio ...

NCPC urges businesses to maximise remote working benefits

Remote working has the potential to bring economic, social and environmental benefits – but some enterprises may struggle with additional costs, according to the National Competitiveness and Productivity ...

House prices rose by fastest rate in two years in March – CSO

New figures from the Central Statistics Office show hous prices rose at their fastest rate in two years in March of this year. Rents are also increasing across ...

‘Faster’ process on the way to help small firms restructure

Minister of State for Trade Robert Troy has said a more cost-effective and faster administrative process will be put in place before the summer to enable “viable, vulnerable” ...

Numbers claiming PUP down over 8,500 on last week

The Department of Social Protection has advised employers facing difficulties in re-hiring staff to contact it so that it can “follow up” with the workers concerned. The advice ...

Foreign investors accounted for 78% of property funding between 2017 and 2019

€4.2 billion in capital was pumped into the Irish commercial and residential property market by foreign private finance providers each year between 2017 and 2019, new analysis has ...

Younger workers most impacted by pandemic – ESRI

Young adults have suffered the worst unemployment and labour market impact from Covid-19, according to the latest research by the Economic and Social Research Institute. The report also ...

Proposals to prevent first-time buyers competing with funds

Minister for Housing Darragh O’Brien has said he will share proposals later this week to prevent first-time buyers competing with large investment funds for houses. He said there ...

Government to continue to support businesses as Covid curbs ease – Varadkar

Tánaiste Leo Varadkar said that today is “a day of freedom” as society partially re-opens and people can travel freely anywhere on the island of Ireland. Mr Varadkar ...

12,000 business reopening today as Covid curbs ease

12,000 businesses are expected to reopen their premises this week as Covid-19 restrictions ease further starting from today. Non-essential retailers across the country can resume click and collect, ...

Grants of up to €40,000 under new Online Retail Scheme

€5m is to be made available to help businesses upgrade their websites to boost opportunities in online retail. The latest round of the Covid-19 Online Retail Scheme is ...

Manufacturing activity surge drives PMI to record high

Conditions in manufacturing improved vastly in the month of April bringing AIB’s monthly measure of activity in the sector to a record high. The Purchasing Managers’ Index – ...

Covid-related supports for businesses to be set out by month end

Minister for Public Expenditure and Reform Michael McGrath has said Covid-related supports for businesses and individuals beyond June will be laid out by Government by the end of ...

Business groups largely welcome Govt reopening plan

Business groups have largely welcomed the latest Government plan for the reopening of the economy, which will see sectors reopen on a phased basis from 10 May. On ...

Economic revival begins but won’t be easy

Is this really the beginning of the end of the economic misery that’s been heaped upon the country for the past 13 months?
 That’s the question that thousands ...

Central Bank: Lending by banks beginning to recover

A new report from the Central Bank indicates that lending by banks has begun to recover this year, particularly in the mortgage market. However, it warns that unexpected ...

Business group calls for certainty in reopening plan

Certainty on financial supports and the reopening strategy for businesses over the coming months are required from today’s Cabinet meeting on Covid-19 restrictions, Chambers Ireland has said. The ...

Retail sales post annual growth of 8.5% in March – CSO

Retail sales volumes were 8.5% higher in March than in the same month last year, driven by growth in homewares and car sales, new figures from the Central ...

Number of firms on Covid support in January highest since June 2020

Almost half of businesses surveyed by the Central Statistics Office had employees either on the Pandemic Unemployment Payment (PUP) or the Wage Subsidy Scheme (WSS) in January of ...

Retailers’ concern over plans on minimum unit price rules for alcohol

Retailers have expressed deep concern at Government plans to introduce minimum unit price (MUP) rules for alcohol before similar measures are put in place in Northern Ireland. Retail ...

Donohoe: Rise in core spending will be higher than 3.5%

The Minister for Finance, Paschal Donohoe, has said expenditure by the Government will be higher than the average 3.5% increase in core spending detailed in the Stability Programme ...

Food and drink exports to UK down 35% since 2018 – CSO

A new report from the Central Statistics Office finds evidence that Brexit has led to an overall decline in trade between Ireland and the UK in food and ...

Adjustment of Covid reopening plan ‘now vital,’ says Ibec

The chief executive of the employers’ group Ibec has written to the Government to outline what the organisation sees as the key priorities for the reopening of the ...

Most Irish food SMEs expect revenue growth this year

Most small and medium sized businesses in the food sector expect their revenues to increase in the year ahead, according to new research by Love Irish Food and ...

‘No abrupt end’ to Covid financial supports – McGrath

The Minister for Public Expenditure and Reform has said there will be “no abrupt end” to the Covid financial supports. Over the coming weeks, Michael McGrath said the ...

Business confidence jumps to higher levels than before pandemic – BoI

Business confidence jumped in April to higher levels than seen even before the Covid-19 pandemic, as they eye the rollout of vaccines and some easing of restrictions, according ...

Retail and wholesale start-ups jump by 88% in Q1 – CRIFVision-Net

The first quarter of 2021 saw a significant increase in “necessity-led entrepreneurship” across the retail and wholesale sectors, the latest figures from credit risk analyst CRIFVision-Net show. Today’s ...

Health insurance uptake on the rise, but so are prices

Like many economic predictions when it comes to the pandemic, forecasts around the health insurance market have turned out to be wide of the mark. Given the impact ...

Consumer sentiment improves to 13-month high in April

Consumer sentiment climbed slightly to hit its highest in April since the onset of the Covid-19 pandemic, a survey showed today, but consumers expressed caution about the long-term ...

ECB sticks with euro zone stimulus plans

The European Central Bank left policy unchanged as expected today, keeping copious stimulus flowing even as it saw reasons to expect a firm rebound of the euro area ...

Property transactions up 12% to €4.2bn despite pandemic

New data from the Property Price Register shows that the volume of residential transactions rose 12% in the first three months of the year, despite the lockdown. According ...

4 in 10 workers have no occupational pension – Age Action

40% of workers aged between 20 and 69 have no occupational pension coverage other than the state pension, according to Age Action. Addressing a Pensions Commission webinar earlier ...

Donohoe says Ireland committed to global tax deal – but it must work for small countries

Ireland is committed to reaching an agreement to overhaul global corporate tax, but it must be one that works for small countries and accommodates healthy and fair tax ...

Government spent €13 billion on tackling Covid last year – CSO

Figures published the Central Statistics Office today give a provisional breakdown of the €13.1 billion spent by the Government last year to tackle Covid-19. The Pandemic Unemployment Payment ...

Job postings continue to grow, up 34% in first quarter – IrishJobs

Job postings on e-recruitment platform IrishJobs.ie were up 34% in the first quarter of the year, compared to the final quarter of 2020. The data suggests the Irish ...

Report warns of rising houses prices and delays

The construction industry could be unable to meet pent-up demand for housing and infrastructure, even when fully reopened, due to labour shortages and a “boom and bust” cycle ...

Covid supports not a subsidy for insurance firms – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Covid-19 supports paid to businesses were “never intended to be a subsidy for insurance companies”. The Minister ...

Covid-19 having ‘profound’ impact on SMEs

A survey by the Central Bank and the ESRI has found the impact of Covid-19 on small and medium sized enterprises (SMEs) has been “profound”. The survey reveals ...

Key focus of Government is getting people back to work – Donohoe

The Minister for Finance has said that scaling up the vaccine programme is key to the re-opening of the economy and that is happening now with 170,000 vaccines ...

Land prices forecast to rise by 4% on average in 2021

Land prices remained resilient last year despite the threat posed by Covid-19, according to a report by the Society of Chartered Surveyors Ireland and Teagasc. Nationally, the price ...

Call for more transparent pension fees legislation

A report on pensions has found that fees and charges are so high that over time they are wiping out the tax relief given to pension savers by ...

Dublin Port volumes down 15% in first quarter of 2021

Brexit trigged a major reduction in cargo volumes at Dublin Port in the first quarter of this year, while Covid-19 also hit passenger numbers. The Dublin Port Company ...

Why is Ireland seen as unattractive by banks?

Ulster Bank, Bank of Scotland Ireland, Rabobank, Danske Bank, and more. There have been plenty of lenders who have dipped their toes in the Irish banking sector, only ...

Home prices see annual increase of 3% in February – CSO

The price of residential property nationally rose by 3% in February, according to the latest figures from the Central Statistics Office. This compares to an increase of 2.6% ...

NTMA raises €3.5 billion through sale of a 20-year bond

The National Treasury Management Agency has raised €3.5 billion through the sale of a new 20-year bond. The bond, which matures in April 2041, was sold at an ...

Trade with UK declines again in February – CSO

Trade with Great Britain continued to decline in February, according to the latest figures from the Central Statistics Office. Imports of goods from Britain were down €742m, or ...

Low Pay Commission to investigate move to €12.30 per hour living wage

The Government has formally authorised the Low Pay Commission to investigate how Ireland can move towards a living wage, and must report in the second half of this ...

Digital advertising spend up 8% last year to €726m

New figures show that digital advertising spend in the Irish market reached €726m last year, up 8% compared to 2019. The latest IAB PwC Online Adspend report shows ...

IMF predicts uneven European economic recovery

The International Monetary Fund has said Europe’s economy should rebound this year but recovery across the region remains uneven. The IMF is also calling for a “new social ...

4.5% growth in economy forecast despite Covid damage

Minister for Finance Paschal Donohoe will publish the Stability Programme Update later today which will set out new deficit and growth targets for the economy. RTÉ News understands ...

Report suggests penalties for bogus self-employment

Penalties for employers who intentionally misclassify workers as self-employed, resulting in the loss of PRSI and employment rights entitlements, should be explored by the Department of Social Protection, ...

Public finances show deficit of €18.4 billion for 2020

Provisional figures from the Central Statistics Office published today show the deficit in the public finances was €18.4 billion last year, which represented 5% of GDP. This is ...

Work from home whenever possible, Tánaiste reminds

The Government has reminded employers that all staff should continue to work from home, if possible. As some Level 5 restrictions eased yesterday, the Tánaiste and Minister for ...

Numbers set to get PUP down 15,000 this week

The number of people due to receive the Pandemic Unemployment Payment (PUP) this week is down 15,776 on last week. 421,373 people will get a total of €125.52m ...

Car insurance premiums to fall in the ‘near future’

The chief executive of Insurance Ireland has said she would be “optimistic” that consumers will start to see a reduction in their motor insurance premiums “in the near ...

Up to 20,000 construction workers to return to sites

Up to 20,000 construction workers will return to work on residential, early-learning and childcare sites around the country today as Covid-19 restrictions ease. But there continues to be ...

Dept issues warning about scam phone calls

The Department of Social Protection has issued a warning about scam phone calls from people claiming to be department officials. The department said that the call displays a ...

Site shutdown sees building activity stall for third month in a row

Construction activity declined for the third month running in March as most building sites remained shuttered due to Covid-19 restrictions. Activity across all sub-sectors fell sharply, according to ...

Consumer prices rise at fastest monthly pace in two years

New figures show that consumer prices rose at their fastest monthly pace in two years in March to stand at the same level a year earlier, when the ...

European rents up 15%, house prices by 28.6% since 2010

Irish house prices rose in line with the EU average of 28.9% over the past decade, according to figures published today by Eurostat, the EU’s statistical agency.  The ...

What is a global minimum tax and how could it affect companies, countries?

US Treasury Secretary Janet Yellen has thrown the weight of the US government behind a push for a global corporate minimum tax rate, possibly carving a path to ...

Those on minimum wage hit hard with pandemic job losses

Minimum wage employees in Ireland are likely to be suffering disproportionately from job losses as almost half work in sectors worst hit by the Covid-19 pandemic, according to ...

Over €26m spent a day in contactless payments in February

New figures from Banking and Payments Federation Ireland reveal that 1.6 million contactless payments were made every day in February. February saw a total of 46.2 million contactless ...

Irish mortgage rates still second highest in euro zone – Central Bank

Rates on Irish mortgages remain the second highest in the euro area, according to the latest figures from the Central Bank.  In February, the average rate on new ...

Pandemic spending drives increase in deficit to €4.17bn in March

The public finances recorded a deficit of €4.172 billion in March, according to figures published this afternoon by the Department of Finance. This compares to a deficit of ...

ECB must remain euro zone’s stabiliser, says Lane

The European Central Bank must remain a key stabiliser of the euro zone economy as the bloc is at risk of suffering longer-term damage from its pandemic-induced double-dip ...

Ibec downgrades growth forecast for 2021 to 3.1%

Ireland’s economy will grow by 3.1% this year, employers’ group Ibec is predicting, down from the 5.3% it said it was anticipating for 2021 just three months ago. Although ...

Long lasting damage from tracker mortgage affair

“I don’t know what a tracker mortgage is.”  Remember the ad? The ad was released by the financial regulator around 2007, as part of a campaign to educate ...

Govt confirms extension of €2bn Credit Guarantee Scheme

The Government has confirmed that it will extend the €2 billion Credit Guarantee Scheme, with the scheme remaining open for applications until the end of the year. The ...

Rise in consumer confidence in visiting stores – Deloitte survey

Consumer confidence in visiting physical stores, engaging in person-to-person services and attending in-person events has increased, according to a new report by Deloitte Ireland. The latest consumer tracker ...

Ulster Bank hit with record €38m Central Bank fine for tracker mortgage failings

The Central Bank has fined Ulster Bank Ireland almost €38m for dozens of regulatory breaches in its handling of its tracker mortgage customers. The fine of €37.774m is the ...

Poll suggests one in four cut back on food and utilities during pandemic

The Covid-19 pandemic has led to one in four people cutting back on food and utilities, according to research commissioned by the Society of St Vincent de Paul. Almost ...

Consumer sentiment improves to best level in 12 months

Consumer sentiment improved to its best level in 12 months in March, according to the latest KBC Bank Ireland consumer sentiment index.  The report said the increase in consumer ...

ESRI lowers economic growth forecasts as Covid restrictions continue

The Economic and Social Research Institute has lowered its forecasts for growth in the economy this year, due to ongoing Level 5 pandemic restrictions. In its Quarterly Economic ...

Rents nationwide rise by 2.7% in fourth quarter

Rental prices increased by 2.7% nationally to stand at an average of €1,256 a month by the end of last year, according to the latest figures from the ...

Dublin-Belfast economic corridor plans to be revealed

Plans for an economic corridor between Dublin and Belfast will be launched by the eight local authorities it passes through. Four local councils on each side of the ...

Europe facing difficult quarter but ECB will do its part – Lane

Europe is facing a difficult second quarter as coronavirus infections rise and governments reimpose lockdown measures, but the European Central Bank will do its part to keep borrowing ...

Employers owe €224m to Revenue for TSSS payments

56% of employers who availed of the Temporary Wage Subsidy Scheme were overpaid under the scheme, and owe a total of €224m to the Revenue Commissioners by the ...

Half of restaurants face permanent closure due to pandemic, says RAI

Half of restaurants face permanent closure in the wake of the coronavirus pandemic, according to the lobby group which represents the industry.  The Restaurants Association of Ireland will ...

Increase in Govt spending due to Covid second highest in euro area

The increase in Government spending in response to the Covid pandemic over the first three quarters of last year was the second highest in the euro area, according ...

Average €4,000 loss to SMEs from fraud last year – Bank of Ireland research

The average loss to a small and medium enterprise here arising from fraud stood at just below €4,000 last year, according to research carried out by Bank of ...

Views sought on reform of Personal Injuries Board

A public consultation on enhancing and reforming the remit of the Personal Injuries Assessment Board (PIAB) begins today. Launched by the Minister for Trade Promotion, Digital and Company ...

Mortgage arrears – is this the calm before another storm?

There was a time in the last decade when the Central Bank’s mortgage arrears figures were as keenly anticipated as the property price figures from the Central Statistics ...

Retail, transport workers should receive living wage – Varadkar

Essential workers including those in retail, transport, cleaning and food service should receive a living wage with access to an occupational pension, according to the Tánaiste and Minister ...

Slight decline in mortgages in arrears in final quarter – Central Bank

There was a marginal decline in the number of mortgage accounts on private residences that were in arrears at the end of December, according to the Central Bank. ...

Irish family firms cut more jobs than European peers

Irish family firms cut more jobs in the past year when compared to their European peers, according to a new report. The study by the Step Project Global Consortium ...

Farmland prices see big jump of 15% in 2020, Irish Farmers Journal report shows

The average price of farmland rose by 15% nationally last year, despite the Covid-19 pandemic, the latest Irish Farmers Journal’s county land price report shows. Today’s report shows ...

Central Bank says firms must ‘set the right standards’

The stockbroker Davy need only look in the mirror when it asks itself how things went so catastrophically wrong, the Director General of Financial Conduct at the Central ...

ECB wants to keep yields in check while economy heals – Lane

The European Central Bank is aiming to stop bond yields from rising before the pandemic-hit euro zone economy is ready to digest higher borrowing costs, the ECB’s chief ...

Shift in post-Brexit jobseeker activity evident in certain sectors – Indeed

A shift away from the UK as a destination for European job seekers post-Brexit is manifesting in increased interest in certain categories of Irish jobs, according to research ...

Half of firms plan to adopt remote working long-term

51% of businesses plan to adopt remote working on a permanent basis, according to new research carried out by CIPD Ireland. The data was published by the umbrella ...

Central Bank says new housing equity scheme could put pressure on prices

The Central Bank has raised questions about the shared equity scheme proposed by Minister for Housing Darragh O’Brien to help first-time home buyers. In a letter to the ...

Contactless payment values up by almost a third – BPFI

The value of contactless payments rose by almost 30% year on year in January to €674m as consumers took advantage of the extended ‘tapping’ limit of €50, according ...

Lockdown dealt €2bn hit to construction output in 2020 – report

The initial shutdown of the construction sector for seven weeks during the initial stages of the Covid-19 pandemic knocked €2bn off construction output last year. That is according ...

Premium hikes likely as rebuild costs rise

Homeowners could face increased buildings insurance premiums because of a hike in the cost of rebuilding a home, according to a report from the Society of Chartered Surveyors. ...

AIB, BoI and PTSB used loss reliefs worth almost €500m over three year period

The Minister for Finance, Paschal Donohoe, has confirmed that the three banks in which the state has shares utilised loss reliefs of almost €500m against their corporation tax ...

UK pushes back timetable for post-Brexit border checks

Britain has delayed by around six months its plans to introduce a range of post-Brexit border checks on goods imported from the European Union, saying it had listened ...

ECB to boost emergency bond buys, keeps rates unchanged

The European Central Bank has left its key interest rates unchanged after today’s Governing Council meeting. However, the ECB has said it expects to buy bonds under its ...

Two thirds of CEOs believe firms will pay more tax arising from pandemic – PwC

Almost two thirds of chief executives here believe that their companies will end up paying more tax as a result of policy changes to address rising debt levels ...

Applications for phase 1 of €8,000 SBASC grant opens today

Applications for the €60m Small Business Assistance Scheme for Covid-19 have opened today.  The SBASC scheme is in addition to the package the Government has put in place ...

Bank boards still not sufficiently tech savvy – Accenture study

A third of the world’s biggest banks still have no board members with professional technology experience, skills needed to help lenders make better decisions as they increase investments ...

Irish mortgage interest rates highest in euro zone again

Ireland continues to have the highest mortgage interest rates across the euro area in January, new figures from the Central Bank show.  The Central Bank said the average ...

Consumers reluctant to return to in-store shopping, study shows

71% of consumers say they will not feel comfortable shopping on their local high street until the Covid crisis is better controlled, according to a new survey. The research ...

Union calls for ‘transparent’ debate on future of banking

The Financial Services Union is calling on the Government to convene a forum for what it calls an’ open and transparent’ public debate on the future of banking ...

ESRI revises downwards economic growth forecast

The Economic and Social Research Institute has revised downwards its forecast for growth in the economy this year.  In an opening statement to the Oireachtas Committee on Budgetary ...

Coveney to brief members of US Congress on Brexit

Members of the US Congress are to receive a briefing today on the latest Brexit developments from Minister for Foreign Affairs Simon Coveney and European Commission Vice-President Maroš Šefčovič. ...

Covid restrictions continue to hit Dublin economy

The latest Dublin Economic Monitor shows that although the Dublin economy remains severely impacted by Covid-19 restrictions, it is prepared for recovery once conditions permit. The monitor is ...

Oireachtas Committee to hear stronger regulatory framework needed in wake of Davy

A senior Central Bank representative will tell an Oireachtas Committee today that the regulatory framework requires further strengthening when it comes to holding individuals to account for breaches. ...

47% of homebuyers think prices will rise by up to 10% this year

47% of prospective homebuyers think prices will rise by up to 10% in the coming year, according to a new survey from property website MyHome.ie. A similar survey ...

Cabinet to consider extension of Covid protections for tenants

The Cabinet will this morning consider a proposal from Minister for Housing Darragh O’Brien to extend protections for tenants whose incomes have been affected by the Covid-19 pandemic. ...

Consumer spending down 19% in February – Revolut

Consumer spending fell again in February as the impact of the full coronavirus lockdown continued to bite, new figures from digital banking app Revolut show.  Revolut said that ...

Increase in women taking up leadership roles, and why its beneficial to business

The number of women holding senior leadership roles in Irish businesses improved in the past year, growing from 31% in 2020 to 33% in 2021, according to research ...

Construction sector sees another decline in activity

February saw another steep contraction in construction activity here due to the coronavirus lockdown restrictions. Ulster Bank’s Construction Purchasing Managers’ index remained well below the 50 no-change mark ...

Need for focus on reducing deficit post-pandemic – Donohoe

The Minister for Finance has warned that it is dangerous for a small economy that cannot print its own currency to think that “deficits don’t matter” when evaluating ...

Martin says need to move away from supports once Covid under control

The Taoiseach has said that as the Covid-19 pandemic is brought under control there will be a need to move away from the extensive and wide-ranging emergency supports ...

EU Parliament declines to set EU-UK trade deal vote

The European Parliament has postponed a decision on ratifying the EU-UK free trade agreement in protest at the UK’s unilateral move on how the Northern Ireland Protocol should ...

Covid-19 unemployment rate dips to 24.8% in February

New figures from the Central Statistics Office show that the unemployment rate, including those receiving temporary Covid-19 jobless benefit, fell slightly to 24.8% in February from 25.1% in ...

Permanent TSB talks over Ulster Bank have been positive says CEO

The chief executive of Permanent TSB has described its discussions with Ulster Bank parent NatWest on the possible purchase of parts of the business as positive. Speaking on Morning ...

EU negotiating with partner it cannot trust – Coveney

The Minister for Foreign Affairs said the EU is negotiating with a partner it simply cannot trust following yesterday’s move by the British government to unilaterally change how the ...

Bank branch closures highlight generational digital divide

The decision by Bank of Ireland to close over a hundred branches across its network highlights the digital divide that exists between the generations. The migration of banks ...

‘Chronic underinvestment’ harming recovery prospects – Ibec

Decades of chronic underinvestment in key infrastructure is threatening to undermine the prospects for economic recovery, according to Ibec. Publishing its submission to the mid-term review of the ...

Exchequer deficit climbed to €14bn by end of February

Exchequer returns for February show that the budgetary situation has now deteriorated by €1.7bn compared to the same period a year ago, due to the decline in tax ...

Euro zone inflation holds steady before expected spike

Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the ...

Dublin benefits most from Brexit financial services relocations – EY

Dublin remains the most popular destination for UK financial services firms looking to relocate staff or operations as a result of Brexit, according to EY. The accounting and ...

Bank of Ireland reassures on cash facilities and ATMs

Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the ...

Ireland’s minimum wage is second-highest in the European Union

Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in ...

How ordinary savers can avoid the negative interest bullet

The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers ...

Retailers affected by the pandemic negotiate rental discounts of up to 20pc

Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by ...

Major reset of EU-UK relations being considered by EU

Senior EU figures are contemplating a major reset in relations with the UK that would coincide with the formal ratification of the free trade agreement at the end ...

Mortgage approvals fell 16% in January

The number of mortgages approved in January fell by 16% compared to the previous month, according to figures published by the Banking & Payments Federation Ireland. A total ...

Youth unemployment worsening, according to CSO figures

Today’s Labour Force Survey figures confirm that the crisis in youth unemployment is worsening.   The number of people aged 15-24 in employment fell from 264,000 at the ...

Key actions needed to reduce insurance costs – NCC

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in ...

Commercial property vacancy rate rises to 13.5%

13.5% of commercial properties listed across the country were vacant in the final quarter of last year, according to figures published by GeoDirectory and EY-DKM. The number of vacant properties ...

SFA calls for urgent launch of Covid Business Aid Scheme

Many small businesses will be forced to close and cut jobs if the Government does not quickly launch the Covid Business Aid Scheme (CBAS). That is according to ...

Ulster Bank defends decision around plan to withdraw from Irish market

The chief executive of Ulster Bank has defended the decision of the bank and its parent NatWest not to give advance warning of its plan to withdraw from ...

Businesses unhappy with Covid plan and seek supports

Business group Ibec has called for an increase in financial supports for business in the worst impacted sectors of the economy.  In a statement this evening, it said current fixed ...

Govt extends key economic supports as restrictions continue

The Government has said that measures to support business, jobs and employment are to remain in place until the end of June. It follows the announcement that Covid level ...

Judicial reviews delay Strategic Housing Development

A new report has found that the number of units in planned Strategic Housing Developments (SHD) in Dublin that have been delayed or cancelled as a result of ...

Central Bank mortgage lending rules keeping house inflation down – ESRI

New research by the ESRI has found further evidence that mortgage lending rules put in place by the Central Bank six years ago are helping to keep house ...

Cautious optimism pushes consumer sentiment higher

Consumer sentiment bounced back in February thanks to cautious optimism about the outlook for the economy, despite the prospect of Covid-19 restrictions lasting for many more months, a ...

Too early to predict Ulster loan book sale success – Donohoe

Minister for Finance Paschal Donohoe has said it is too early to say if the negotiations between Permanent TSB and NatWest turn out to be successful on the ...

The third banking force awakens

For well over a decade, we’ve been hearing talk on and off about the need for a third banking force in Ireland. The notion gained legs in the ...

Licensed Vintners’ Association calls for more clarity

The Special Committee on Covid-19 Response will meet later today as the updating of the Government’s plan on Living with Covid continues ahead of its publication this week. ...

Consumer prices down 0.2% in January – CSO

New figures from the Central Statistics Office figures show that consumer prices posted an annual fall of 0.2% in January compared to a drop of 1% a month ...

Varadkar promises more targeted Covid-19 supports

The economy will “bounce back” sooner than many people think, the Tánaiste has told the Dáil, but he added that the pandemic will leave “many scars” including lost ...

Ulster Bank confirms exit from Irish market

Ulster Bank has announced a phased withdrawal from the Republic of Ireland over the coming years that will be managed in an “orderly and considered manner”.  The bank, ...

Central Bank expects ‘speedy’ resolution of business interruption claims

The Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its ...

Bank of Ireland to refund 35,000 mortgage customers

Bank of Ireland is to refund tens of thousands of its mortgage customers after it discovered that it had overcharged them. Around 35,000 accounts were impacted by the ...

Irish online retail sales soar by 159% in 2020 – Wolfgang Digital

Irish online retail sales grew by 159% in 2020, according to new figures from digital agency Wolfgang Digital, up from average annual growth of 32% between 2017 and ...

European new car sales drop by 25.7% in January

European car registrations dropped in January, industry data showed today, as measures to restrict a second coronavirus wave hit sales in the region’s largest markets.  New car registrations ...

Donohoe says public finances still within overall budget

The Minister for Finance, Paschal Donohoe has said the public finances are still within the overall budget published last October. However, he said if current programmes to support incomes ...

Job postings continue to grow, still down 24% – Indeed Ireland

Job postings on Indeed Ireland were down 24% in early February compared with the same time last year, according to new research from the jobs website. However, despite ...

Covid supports to extend beyond March, says McGrath

The Minister for Public Expenditure and Reform has confirmed that the various pandemic supports will be extended beyond the end of March. Speaking on RTÉ’s News at One, Micheal McGrath said ...

Banking Federation critical of capital reserve rules

The banking industry’s representative association, Banking and Payments Federation Ireland, has published a report claiming Irish banks are forced to hold three times the amount of capital as its ...

3,666 decrease in PUP recipients over last week

Almost 477,700 people are set to receive the Pandemic Unemployment Payment this week – a decrease of 3,666 over the last week, according to the Department of Social ...

ICTU warning over reduced redundancy for workers on PUP

Hundreds of thousands of workers could lose out on redundancy payments if their employment is terminated because time spent claiming the Pandemic Unemployment Payment will not count when ...

Decision time on Ulster Bank’s future draws near

This week could be a big one for Ulster Bank’s 2,800 employees in the Republic of Ireland, its 1.1 million customers, the Irish banking market and the economy ...

Are banks about to start charging us for our savings?

It may be hard to believe for those who availed of it, but it’s 20 years since Ireland’s arguably most famous and controversial savings scheme was launched. In ...

Euro zone growth in 2021 to rebound less than expected

The euro zone economy will rebound less than earlier expected from the coronavirus slump this year as a second wave of the pandemic put economies in new lockdowns, ...

Irish economy set to grow by 3.4% in 2021 – Commission

Ireland’s overall GDP growth is projected to come in at 3.4% in 2021 and is set to reach 3.5% in 2022 on the back of strong private consumption, ...

UK can’t have equivalence and divergence – McGuinness

The European Union will strive for close co-operation with Britain on financial services, the EU Financial Services Commissioner Mairead McGuinness has said. But she said London cannot expect ...

People on PUP facing reduced tax credits when they return to work

The Director of Public Policy at Chartered Accountants Ireland has said Revenue will collect the tax owed on the Pandemic Unemployment Payment (PUP) for 2021 by reducing people’s tax ...

88% of online shoppers buy from non-Irish sites – PayPal

88% of Irish consumers who shop online bought from websites outside of Ireland during the last year, according to research carried out by PayPal. The study involving more ...

Business leaders concerned at pace of Covid-19 vaccine rollout – IoD

33% of businesses say a slow roll-out of the Covid-19 vaccination programme is the single biggest risk facing their organisation, according to new research by the Institute of ...

Irish banks ‘latecomers’ on digital services – Deloitte study

Irish banks lag behind their global counterparts when it comes to their digital services offering. This is according to a study of banks globally carried out by professional ...

Firms alerted to Brexit requirements that apply to some workers

Irish companies employing UK nationals working in other EU member states are being alerted to changes arising from Brexit which mean that their employees are now subject to ...

Government €160m Boost to Covid Business Grants

New Scheme targets businesses currently ineligible for CRSS & other sector specific grants Wholesalers, suppliers, caterers & events companies down 75% or more in turnover expected to benefit ...

Warned over financial cost of Covid restrictions, construction may reopen 5 March

The Government has been warned that the financial costs of continued restrictions are very large and that the short-term economic outlook has worsened due to the current Level ...

Revenue apologises to hauliers for import system problems

Revenue has apologised for ongoing intermittent performance problems with its main import system. This has led to difficulties and delays for businesses trying to bring goods into the country ...

Security to the fore as firms and consumers opt for digital in greater numbers

Almost half of Irish small businesses surveyed by payments company Visa said they were now offering contactless payments options to their customers for the first time. That is ...

Brexit pushes cost of buying used car from UK higher

Revenue has warned that anyone buying a used car from the UK needs to be aware of the significant additional costs that may apply, following the end of ...

Lowest rate of rental inflation in nine years as Dublin prices fall in the year – daft.ie

It was a tale of two rental markets in 2020 with monthly rents in the capital down 3%, but outside of Dublin, rents were up 5%, the latest rental ...

Steep fall in construction activity as sites remain shuttered

There was a sharp reduction in construction activity in January as the industry was largely shuttered under the latest Government restrictions introduced to curb the spread of Covid-19. ...

Small businesses urged to use available Brexit supports ahead of LEO meeting

The Local Enterprise Office network is holding a webinar for small businesses today on changes to the trade regime since the UK left the EU at the start ...

New guidelines on personal injury damages to be considered

A full meeting of the Judicial Council will consider draft guidelines which, if adopted, will recalibrate the level of damages that can be awarded to claimants involved in ...

Late year surge in home completions brings 2020 close to 2019 levels

There was a big increase in the number of housing projects completed in the final three months of last year, new Central Statistics Office figures show.  That push ...

EU concern over tone of Gove’s demands on NI Protocol

EU sources have expressed concern over the tone of Michael Gove’s letter to his European Commission counterpart on changes the UK is demanding to the Northern Ireland Protocol. ...

Covid-19 unemployment rate climbs to 25% in January – CSO

The Covid-adjusted rate of unemployment rose to 25% in January, up from 19.4% in December, according to the latest figures from the Central Statistics Office. Restrictions, including the ...

Euro zone inflation rate surges in January

Euro zone inflation surged well past expectations last month, driven by rising energy costs and a German tax increase, posing a potential communications challenge for the European Central ...

Services activity tumbles after new lockdown – PMI

The country’s services sector contracted last month at the sharpest rate since the economy was emerging from an initial Covid-19 lockdown last May after the Government imposed its ...

Euro zone GDP falls less than expected at end of 2020

The euro zone economy contracted less than expected in the fourth quarter of 2020 amid pandemic-induced lockdowns, initial EU estimates showed today. But the euro zone may be ...

Savings continue to rise as debt levels fall – Central Bank

Household savings continue to rise and debt levels continue to fall, according to the latest figures from the Central Bank.  The Central Bank’s quarterly financial accounts show that ...

PUP numbers increase by less than 1% in the last week

Almost 480,000 people will receive the Pandemic Unemployment Payment this week, an increase of 4,269 or less that 1%, according to the latest figures from the Department of ...

Minister to seek ban on oil and gas exploration

Minister for Transport, Environment and Climate Eamon Ryan will today seek Cabinet approval to introduce legislation to ban oil and gas exploration. Mr Ryan is aiming to add ...

Consumer caution urged over fake ‘Irish’ websites post-Brexit

Consumer experts have warned online shoppers they should not be duped by fake ‘.ie’ websites, or they could face additional taxes and duties on what they buy. This comes post-Brexit and a ...

Volume of goods into Irish ports from UK down 50%

A month after the end of the Brexit transition period, authorities say the volume of goods coming into Irish ports from the UK remains at around 50% of ...

Manufacturing sector growth slows sharply on Brexit, Covid-19

The pace of growth in the manufacturing sector slowed sharply to a three-month low in January as Britain’s exit from the European Union’s trading orbit combined with Covid-19 ...

New €55m fund to aid tourism businesses hit by pandemic

A new €55m fund to assist tourism businesses that have been impacted by the Covid-19 pandemic is to be launched later today. The Tourism Business Continuity Scheme, announced ...

Public debt set to increase to €47,700 per person – Finance

The national debt stood at more than €219 billion at the end of last year, equivalent to €44,000 for every person in the country, according to a new ...

Pandemic reduced greenhouse gas emissions in Ireland by almost 6% – study

Greenhouse gas emissions fell in Ireland because of the pandemic, a new study shows. The dramatic declines in economic activity and transport in 2020 translated into greenhouse gas ...

Rebound in mortgage lending in final months of 2020

The value of mortgage approvals in 2020 exceeded €10 billion, despite a slump in lending in the early months of the pandemic. This is according to figures for ...

Hauliers going to France urged by Govt to pre-book antigen test

The Government is urging hauliers heading to France from tomorrow onwards to pre-book antigen testing before they travel, because of the new French requirement for a negative Covid-19 ...

Business angel investing grew in 2020, despite pandemic

Business angels invested over €14m in start-ups across the island of Ireland in 2020, despite the pandemic induced restrictions throughout the year. This is according to the latest figures ...

Record number of new .ie websites registered in 2020

A record number of new .ie Irish websites were registered in 2020, according to a new report by .IE, which manages and administers Ireland’s country domain name .ie. Over ...

Survey looks at employers’ view on vaccinations

Thousands of employees could face dismissal or problems in being hired if they refuse to be vaccinated, according to research by human resources technology firm HRLocker. The survey of 750 senior ...

Consumer confidence falls, as Covid worries grow

Consumer sentiment dropped sharply in January as the number of Covid-19 cases surged following the Christmas period, a survey found today.  The KBC Bank Ireland consumer sentiment index ...

Contactless payments topped a record €1bn last December

Irish consumers are tapping their payment cards more than ever. Last December spending using contactless payments topped €1 billion for the first time ever. In the last three months ...

No sudden withdrawal of fiscal measures – Donohoe

The Minister for Finance has said there will be no sudden withdrawal of the fiscal stimulus measures put in place across Europe to deal with the Covid-19 pandemic. ...

Irish port volumes steadily rising but still lower than last year

The quantity of goods passing through Irish ports from the UK remains around half of what it was this time last year, nearly four weeks after the Brexit ...

Almost €100,000 income needed for cheapest Dublin apartments – study

A couple earning average wages still cannot afford even the cheapest new apartments in Dublin, according to a study. The Society of Chartered Surveyors Ireland (SCSI) also found ...

Too much cash, too few homes – property prices in a pandemic

A multi-millionaire Australian property mogul controversially suggested a few years ago that if young people wanted to buy a house, they should stop buying avocado toast and expensive ...

Interest rates on State savings schemes to be reduced

The interest rates on several State savings schemes are to be reduced, the National Treasury Management Agency has announced. The changes will also impact the prize bond fund, ...

Big consumer rebound expected after Q1 lockdown – Goodbody

The unleashing of €13 billion in household savings and significant pent-up demand will lead to a surge in consumer spending that will fuel a 5% growth in core domestic ...

Setback for banks’ Revolut-style payment app application as CCPC rejects it as ‘invalid’

A plan by the main banks here to develop a person to person money transfer app to rival Revolut and N26 has been dealt an early set back, ...

Salaries for in-demand skills to increase by up to 5%

Salaries for in-demand and emerging niche skill sets will increase by up to 5% this year, according to the Morgan McKinley Irish Salary Guide. The new guide shows that ...

Vaccine roll-out key to economic growth this year – Central Bank

The Central Bank has forecast that growth in the economy will pick up in the second half of this year, if there is a successful roll-out of the ...

Davy upgrades economic growth forecasts for 2021

Davy has upgraded its growth forecast for the economy for this year on the back of buoyant exports and multinational sector output, especially from the pharmaceutical and information and ...

Delivery costs for Northern Ireland-Britain trade set to rise, hauliers say

The cost of transporting goods to Britain from Northern Ireland is set to rise as a result of the new post-Brexit regulatory border between the two parts of ...

Job vacancies remain 23% below pre-Covid levels

Job postings for the final quarter of last year were 23% lower than the same time in 2019, according to figures published by e-recruitment platform IrishJobs. Despite being ...

EU sets out plans to built the power of the euro

Europe is too vulnerable to the global power of the dollar and must ensure the international standing of its euro currency to challenge US dominance, the EU executive ...

Residential property prices saw a return to growth in November – CSO

Residential property prices rose on an annual basis for the first time in six months in November after disruption from the initial Covid-19 lockdown of the economy halted ...

Dublin Port records third busiest year in 2020 despite Covid challenges

The volume of cargo passing through Dublin Port in the last three months of 2020 rose by 7.6% as pre-Brexit stockpiling, Christmas trading and a bounce caused by a ...

ITIC calls for more support for tourism industry

The Irish Tourism Industry Confederation has outlined nine key policies which it says are needed to safeguard the industry as it continues to deal with the harsh impact ...

No reason to expect significant shortage of goods – official

A senior Government official has said there is no reason to expect there will be any significant shortages in goods because of ongoing post-Brexit supply chain challenges.  Declan ...

PUP numbers jump by over 15% in the last week

Some 460,000 people will receive the Pandemic Unemployment Payment this week – an increase of over 15% in the last seven days, according to the Department of Social ...

Price rises expected as estate agents struggle to meet demand – SCSI

Chartered estate agents say they are struggling to meet demand for property, especially from first time buyers. A survey of 800 agents, carried out by the Society of ...

New online resource launched for those wishing to upskill or retrain

A new online portal for those hoping to upskill or retrain is being launched by the Minister for Higher Education Simon Harris today. The portal is described as a “one ...

Number of new firms set up hits four year low in 2020

The Covid-19 pandemic had a big impact on company formations last year, with the number of new firms established in 2020 hitting a four year low. In total ...

Employees to be given right to request remote working under Govt plan

The Government is to legislate to give employees the right to request remote working as part of a National Remote Working Strategy under a permanent framework for after ...

420,000 workers to receive tax bills for Covid payments

Around 420,000 people will be issued tax bills today as a result of payments they received under the two main Covid subsidy schemes last year. 71% of those in ...

Changes to corporate tax rules will reduce revenue by up to €2bn

The Minister for Finance, Paschal Donohoe, has said planned changes to corporate tax rules will result in a reduction in corporate tax in the future of between €800m and ...

Are NI supermarket issues really just Brexit ‘teething troubles’?

Just how bad is the import/export situation in the UK as a result of Brexit? And in particular, how bad is it in Northern Ireland – where EU Single ...

Industrial & logistics sector sees spike in demand – Savills

New research from property advisor Savills Ireland shows that demand in Dublin’s industrial and logistics sector was up in the final quarter of 2020. Savills noted demand for 87,318 metre squared of ...

Irish mortgage interest rates joint highest in euro zone

Ireland and Greece had the joint highest mortgage interest rates across the euro area in November, new figures from the Central Bank show. The Central Bank said the ...

76% of imports into Dublin Port clearing without delays

Revenue has said that 76% of goods being imported through Dublin Port from the UK are now being given green clearance, which is up from 45% one week ago. ...

Ireland to receive €1bn from EU’s post-Brexit fund

Ireland is due to receive over €1 billion from the European Union’s Brexit fund, set up to help member states most affected by Britain’s departure from the bloc. ...

Some food and drink exports hit hard by Covid-19 pandemic

Some sectors of Ireland’s valuable food and drink industry were severely affected last year as a result the global Covid-19 pandemic. The extent of the decline is highlighted ...

Record €1.2 billion spent on groceries in December – Kantar

New figures show that the average shopper spent €134 more on groceries in December last year than they did in December the previous year.   The latest figures ...

People unable to work due to childcare may be eligible for PUP

Workers unable to go to work due to a lack of childcare triggered by Covid-19 closures may be eligible to claim the Pandemic Unemployment Payment, according to the ...

Banks to create payment app to rival Revolut and N26

Four of the five main Irish retail banks have notified the competitor regulator of plans for an app based payment system that would enable consumers to move money ...

Strong rise in housing activity drives construction sector growth in December

The construction industry finished 2020 in expansion mode on the back of strong levels of housebuilding, the latest Ulster Bank’s Construction Purchasing Managers Index shows. The Ulster Bank ...

Consumer spending up 6% in December – Revolut

New figures from Revolut shows that total consumer spending in December 2020 rose by 6% from December 2019, with many sectors seeing record levels of expenditure.  Digital banking ...

Brexit reality bites: The new dawn of trade friction

This week, as Brexit took effect, a company in Cork that sells sports posters to Europe and around the world ceased all direct online sales to the UK. ...

Businesses urged to claim 0% tariff on UK-origin goods

Businesses, and especially SMEs, have been alerted of the need to actively claim the zero-tariff rate on UK origin goods.  The Minister of State for Business, Employment and ...

Non-essential construction to stop this evening due to Covid-19 restrictions

Non-essential construction is to cease this evening until at least the end of the month, as part of restrictions introduced on Wednesday to slow the spread of the ...

The virus shaping our economy is unpredictable and surprising

Covid-19 continues to be the predominant issue in all our lives. It also continues to be the predominant factor shaping our economy. And because it’s the Irish economy, ...

Businesses worst fears realised as 2021 gets off to terrible start

It wasn’t supposed to be like this.  When Irish businesses did what was asked of them and substantially shut up shop in mid-October it was in pursuit of ...

Govt engages with banks on further repayment breaks

The Government is engaging with the banking sector to ensure borrowers who need loan repayment breaks as a result of the further increase in Covid-19 Level 5 restrictions ...

Unemployment rate dips to 20.4% before latest lockdown

New figures from the Central Statistics Office show that the Covid-19 adjusted unemployment rate stood at 20.4% in December as the Covid-19 crisis continues to have a significant ...

Minister seeks to keep current PUP rates until March

Minister for Social Protection Heather Humphreys is expected to ask the Cabinet to approve the retention of the current Pandemic Unemployment Payment rates until the end of March, ...

Online shoppers see extra charges due to Brexit

Consumers are beginning to see the introduction of additional charges and taxes when shopping with British retailers. Since Brexit took effect on 1 January, new rules have been implemented ...

General Government deficit of €19 billion expected for 2020

The Minister for Finance has said he believes the level of financial support provided in the Budget will be sufficient to cope with the ongoing effect of Covid-19. ...

NAMA expects to transfer €1bn to Exchequer during 2021

NAMA generated €900 million cash in 2020, exceeding its target according to an end-of-year review published by the agency today. It expects to report a full-year profit for ...

Key actions required to ensure insurance reform – Alliance for Insurance Reform

The Alliance for Insurance Reform has said the insurance crisis can be sorted in 2021 if key actions are completed. Eoin McCambridge, managing director of McCambridge’s of Galway ...

Sterling weakens against euro as post-Brexit deal rally falters

The pound weakened versus the euro on Britain’s first day of trading outside the European Union, but strengthened against a softer dollar, climbing above $1.37 for the first ...

More ways to fine-tune your personal finances for the New Year

Despite it being a record year for savings in Ireland, much of it was accidental given that large sections of the economy were shut down for long periods ...

Irish manufacturing ends 2020 with stronger expansion as end of Brexit transition period looms

The Irish manufacturing sector saw a boost to business in December as firms prepared for the end of the Brexit transition period, according to the latest Purchasing Managers ...

Central Bank warns Brexit may bring some disruption to financial services

The Central Bank has warned that Irish creditors with direct debits in place for UK customers may need to provide their banks with additional information to avoid payment ...

Public liability premiums up 15-20% over three years

Public liability insurance premiums have increased by 15-20% on average over the past three years, new research by the Competition and Consumer Protection Commission (CCPC) has found. Their ...

Brexit breakthrough still out of reach on fisheries

EU and UK officials will continue their last-minute negotiations in Brussels today with the EU signalling that persistent differences over fisheries could mean an agreement is not reached ...

Varadkar thanks businesses for carrying Covid-19 burden in new letter

The Tánaiste and Minister for Enterprise, Trade and Employment has written to every registered business in Ireland to urge them to prepare for Brexit and to thank them ...

Last-minute post will be impacted by transport disruption in Britain – An Post

An Post has said last-minute international letters and parcels to and from Britain and the rest of Europe will be impacted by the serious disruption to international supply ...

Mortgage approval values at highest level since 2011

New figures show that the number of mortgages approved fell by 0.2% in November on a monthly basis, while they rose by 24.3% compared with the same time ...

Staggered increase in restrictions over holiday period, says Ryan

Minister for Transport Eamon Ryan has said there will be a series of staggered dates regarding changes to restrictions, not all on the one date, over the holiday ...

‘Significant differences remain’ as talks to continue

Talks on a post-Brexit trade pact between Britain and the EU are expected to continue today as “significant differences remain”. A senior UK government source said: “Teams have been ...

European shares tumble on tighter Covid-19 curbs in UK, Brexit uncertainty

European shares slumped in opening trade this morning as the rapid spread of a new strain of the coronavirus led to a more stringent lockdown in England and ...

Some banks, businesses not to ready to implement new security rules by 1 Jan

The Department of Finance has said that some banks and businesses may not be fully ready to implement new security rules for electronic payments that come into effect ...

Ireland the eighth largest exporter of financial services; fifth in Europe – report

Ireland is the fifth largest exporter of financial services in Europe, according to a new report on the contribution of international banking to the economy here. The report ...

Just hours left for Brexit talks, says Barnier

Chief European Union negotiator Michel Barnier has warned that post-Brexit trade talks were at a “moment of truth” with just hours left to reach an agreement with Britain. “It’s ...

Housing supply issues amplified by pandemic – economist

The Covid-19 pandemic has amplified a trend of chronic and worsening shortage of housing and this is already being reflected in house prices and rents. This is according ...

EU should ‘see sense’ and agree trade deal – Johnson

British Prime Minister Boris Johnson has said he hoped the European Union would “see sense” and agree a post-Brexit trade deal. He said all the bloc needed to ...

Pay rises of over 2% expected for private sector workers in 2021 – Willis Towers Watson

Despite the impacts of Covid-19 and the uncertainty surrounding the prospects for a free trade agreement between the EU and the UK in the coming weeks, it appears ...

Economy to grow by 3.4% despite record unemployment – ESRI

The Economic and Social Research Institute has forecast that the economy will end up growing this year by 3.4%, despite record unemployment. In its latest Quarterly Economic Commentary, ...

Ulster Bank exiting Irish market could hit SME lending: Central Bank deputy governor

An exit by Ulster Bank from Ireland could lead to a concerning reduction in competition in the SME lending market, the deputy governor of the Central Bank has ...

Consumer sentiment rises for second month in a row

Consumer sentiment rose strongly for the second month in a row to reach its highest level since the Covid-19 pandemic took hold after the reopening of large parts ...

Brexit negotiators making some progress – Coveney

The Minister for Foreign Affairs, Simon Coveney, has said neither of two remaining obstacles in relation to Brexit are easy to resolve. He said while he is hopeful ...

Ibec forecasts economic growth of 0.8% for 2020

The resilience of the Irish economy will mean it will grow by 0.8% this year, the country’s largest business group has forecast in its latest Quarterly Economic Outlook. ...

UK says EU ‘needs to move’ for post Brexit deal

The European Union will need to move in negotiations but it is in the interests of both Britain and the EU to get a trade deal, according to ...

US tech giants face fines as EU set rules to curb their power

Amazon, Apple, Facebook and Alphabet unit Google may have to change their business practices in Europe or face hefty fines between 6-10% under new draft EU rules to ...

28,000 new homes a year needed to keep up with population growth – ESRI

Overall, 28,000 new houses will be required to be built each year over much of the next two decades if the country’s housing needs are to keep step ...

House prices increased by 3.5% in a year – Daft report

House prices have increased by 3.5% in the last year, according to a report by the property website Daft.ie. So far this year more than 630 properties were ...

Barnier says post-Brexit trade deal still possible

The European Union’s Brexit negotiator, Michel Barnier, has said sealing a new trade pact with Britain is still possible and that negotiations are continuing to attempt to solve ...

European Central Bank sees slower growth next year, faster pick up later

The European Central Bank expects economic growth to rebound more slowly next year as the pandemic continues to weigh on output but the recovery could be quicker in ...

5 reasons why a no-deal Brexit would be bad for Ireland

The talks on Brexit may still be ongoing, just about. But so, too, is the worrying here in Ireland about the potential consequences of no agreement being struck. ...

‘Low expectations’ for post-Brexit trade deal

There are “low expectations” that a post-Brexit trade deal can be struck between the European Union and Britain, European Commission President Ursula von der Leyen has reportedly told ...

PUP earnings threshold increased for self-employed

Self-employed people in receipt of the Pandemic Unemployment Payment (PUP) will be able to earn €960 over eight weeks while also retaining their full entitlement to the payment ...

Consumers face VAT and customs duty from 1 January if buying goods from UK

Consumers will be faced with VAT and customs duty when Britain exits the EU on 1 January if buying goods from the UK. However, the changes are likely ...

UK and EU have ‘some scope to keep talking’ – Raab

Britain and the European Union have scope to strike a trade deal but significant differences remain and real progress needs to be made to keep talking beyond the ...

Significant differences remain on Brexit level playing field – Taoiseach

The Taoiseach has told a meeting of the Fianna Fáil parliamentary party that significant differences remain on the issue of the level playing field in the Brexit talks. ...

‘Pivotal’ day in Brexit talks as Johnson heads to Brussels

British Prime Minister Boris Johnson will travel to Brussels in an attempt to reach a breakthrough on a post-Brexit trade deal with European Commission President Ursula von der Leyen. Later this morning the ...

IFAC warns 6% may be knocked off GDP if no Brexit deal

Up to 6% could be knocked off Irish GDP if there is no Brexit trade deal, the Irish Fiscal Advisory Council (IFAC) has warned. Addressing the Oireachtas Select ...

Pandemic has made homebuying more important for some – KBC Bank survey

A survey of potential housebuyers by KBC Bank Ireland has found that about a fifth said the pandemic had resulted in increased interest in buying or moving house.  ...

Housing supply will not meet demand for at least another three years – BPFI

Housing supply is unlikely to meet demand until at least the end of 2023, according to an analysis of the housing market by the Banking and Payments Federation ...

Govt report on insurance reforms to be published

A Government report outlining how to reform the assessment of insurance claims, and strengthen consumer protection, will be published this afternoon after consideration by Cabinet.  It is believed ...

Fewer contactless payments during Level 5 restrictions

The impact of Level 5 Covid-19 restrictions on consumer spending have been revealed in figures released by the Banking and Payments Federation. Cash withdrawals from ATMs and card spending dropped ...

Online spending last month double that of last year

Online spending in November was double what it was during the same month last year, as people were precluded from physical shopping in non-essential retail stores due to ...

Barnier briefing EU member states on Brexit talks

EU chief negotiator Michel Barnier is currently briefing EU member states on the state of play in the Brexit negotiations which Taoiseach Micheál Martin last night described as ...

More UK supermarkets waive tax relief

Sainsbury’s, Asda, Aldi and B&M will forgo UK property tax relief during the pandemic, following rivals Tesco and Morrisons and taking the total recouped by the UK government ...

EU regulator says derivatives market faces challenges on Brexit

The European Union’s top markets regulator has delivered a fresh warning that big European banks will face difficulties trading derivatives when they are locked out of London’s dominant ...

Hope fading post-Brexit trade talks could finish before Monday

Negotiations on a future EU-UK relationship will resume in London this morning, but hope is fading that the talks on a post-Brexit trade deal could finish today. Downing ...

€8.9 billion deficit in public finances recorded in November

The public finances recorded a deficit of €8.9 billion in November, according to the latest Exchequer figures. This compares to a surplus of €3.355bn in November last year. ...

Services activity shrinks faster in November – PMI

Services activity contracted faster in November, ahead of the reopening from this week of large parts of the sector, a business survey showed today.  Ireland became one of ...

Little progress on key issues in Brexit talks

Brexit talks have stretched late into the night as both sides fought their corners with the clock ticking down to the deadline for a trade deal.  It was ...

Brexit will impact consumer rights, warns watchdog

Irish consumers are planning on buying Irish after Brexit and many have already switched from UK websites due to concerns around consumer rights.  The Competition & Consumer Protection ...

Dublin sixth most active real estate market in Europe, according to report

Dublin is the sixth most active real estate market in Europe for capital invested, according to a report by PwC and Urban Land Institute. In its 18th year, the report ...

Lockdown drives early Christmas shopping – PayPal

One third of Irish consumers, or 1.2 million people are Christmas shopping earlier this year due to lockdown, according to new research from PayPal. The study, conducted by Censuswide ...

Surge in mortgage approvals in October driven by first-time buyers

New figures from Banking and Payments Federation Ireland show that October was the busiest month for mortgage approvals since BPFI began compiling the numbers in 2011. A total ...

What was the cost of Level 5 on our economy and health?

As the country moves out of Level 5 restrictions today, Health Correspondent Fergal Bowers looks at the impact on health services, while Economics Correspondent Robert Shortt examines the ...

Irish Fiscal Advisory Council critical of Government non-Covid expenditure commitments

The budgetary watchdog, the Irish Fiscal Advisory Council (IFAC), has said the Government’s commitment in the Budget to support incomes and the economy is “appropriate”. However, it was critical ...

80% of law firms see deteriorating outlook for sector – survey

A new report shows that nearly two in three Irish law firms recorded a decline in revenue over the last year. Six out of ten firms cited maintaining profitability ...

€6.85m paid out in Enterprise Support Grants since August

A total of 7,412 people have availed of the Department of Social Protection’s Enterprise Support Grant since applications were opened in August.  The once-off payment is worth up ...

Brexit talks resume in London for what could be final week

Crunch talks aimed at securing a post-Brexit trade deal between the European Union and UK will resume today in what could be the final week of discussions. The EU’s ...

Enterprise Ireland survey reveals lack of readiness for Brexit

With just 35 days to Brexit, a new survey from Enterprise Ireland reveals a worrying lack of customs preparedness by Irish companies. A survey by IHS Markit of ...

Bosses concerned about isolation among remote workers – IoD Survey

A new survey shows that the isolation of staff and a lack of cohesion of teams who are working remotely during the Covid-19 pandemic are among the chief ...

No changes to Central Bank’s mortgage rules

The Central Bank has today left its key rules on mortgage lending unchanged and also extended its relaxation of certain regulations on bank reserves into next year. However, ...

Switching off: Do workers have a ‘right to disconnect’?

The line between work and home life has blurred for many over the past few months.  While there are countless benefits to remote working, turning your home environment ...

ECB warns against early withdrawal of Covid supports

The European Central Bank has said if governments withdraw financial support from households and companies too early, it could “set back the economic recovery”.  In its latest Financial ...

UK fiscal watchdog warns of impact of no-deal Brexit

Britain’s independent fiscal watchdog, the Office of Budget Responsibility, has said a no-deal Brexit at the end of this year will cut economic growth and increase unemployment. In addition to ...

Traffic light system proposed for non-EU air travel

A draft report from the Oireachtas Transport Committee has recommended that a traffic light system for countries outside the EU be developed before Christmas. The draft report, on ...

5 top tips for borrowing at Christmas

Last week, I spoke about making cents this Christmas. The expression ‘things are tight at Christmas’ resonates with many of us at this time though the lockdowns have ...

Government to extend Credit Guarantee Scheme and redundancy provisions

The Government has decided to extend two measures which were brought in to help businesses during the Covid-19 pandemic.  The Covid-19 Credit Guarantee Scheme (CGS) will now stay ...

Taoiseach remains hopeful Brexit deal can be agreed

The Taoiseach has said that Brexit amounts to the most significant fundamental economic change the country has faced in 50 years. Speaking at Dublin Port, Micheál Martin said ...

Christmas shoppers urged to be wary of online fraud

Consumers shopping online this week are being advised to be on the lookout for scams. Black Friday and Cyber Monday are expected to see another increase in online ...

Surprise bounce in consumer sentiment in November

Consumer sentiment showed a significant and somewhat surprising rebound in November which may signal a stronger outlook for Christmas spending.  The latest KBC Bank Irish consumer sentiment index ...

Saving Ireland – how Covid-19 turbo-charged deposits

We like to save money in Ireland and much and all as we’ve generally disliked ‘lockdown’, and all that it has meant in terms of an erosion of our ...

New Brexit loan scheme for small businesses now available

A new loan scheme to help small businesses to prepare for Brexit has been launched through Microfinance Ireland. Loans for between €5,000 and €25,000 will be available to ...

500 businesses, trade groups in open letter to Taoiseach

Nearly 500 businesses and trade associations involved in the tourism, hospitality and events industries have signed an open letter to Taoiseach Micheál Martin calling for the sector to be ...

New company registrations down, but Central Bank finds no evidence of rising insolvencies

The Covid-19 pandemic has not led to an increase in company insolvencies, according to new research from the Central Bank.  A report published today by the Central Bank ...

€8.24m in funding announced for Enterprise Centres

A total of €8.24m in grants has been announced for 95 Enterprise Centres around the country under Enterprise Ireland’s Enterprise Centres Fund.  Enterprise Centres are embedded in communities ...

Businesses urged to take action on UK direct debit changes

Businesses and other organisations here that use a UK based payment service provider to process direct debits are being urged to check they are ready for important changes ...

Revenue reminds businesses of Debt Warehousing scheme

Revenue has written to over 100,000 taxpayers confirming that their tax debts totaling €2.2 billion are eligible for Debt Warehousing. The Debt Warehousing Scheme allows VAT and PAYE ...

Outlook for Irish economy highly uncertain – Commission

The European Commission has said the outlook for the Irish economy is “highly uncertain” and that risks are “elevated”.  In a report published today, the Commission notes that ...

Ireland in 4th place in survey of most attractive European locations for FDI

A new survey shows that Ireland comes in fourth place in the league table of attractive European locations for foreign direct investment in 2021. The EY European Attractiveness ...

Covid continues to hit labour market in third quarter – CSO

The number of people in employment during the third quarter of this year stood at 2,295,200, according to the latest Labour Force Survey published by the Central Statistics ...

‘Act now to prepare for Brexit’ – Revenue

Revenue is advising businesses who have not fully prepared for Brexit to act now to avoid significant disruption in their international trade.  The advice comes following Revenue’s recent ...

Ibec calls for early exit from Level 5 for retail, hospitality and travel sectors

The chief executive of employer’s group Ibec has told the Government that there is serious and urgent concern in the business community around the current phase of Covid ...

Businesses can claim Covid restrictions support cash payments from today

Eligible businesses can claim cash payments under the Government’s Covid Restrictions Support Scheme from today. The scheme is designed to assist firms which have had to close or ...

Lenders warned by Central Bank on clear communication with mortgage holders

The Central Bank has warned lenders that it expects them to clearly communicate with customers at all stages of the mortgage application process, including customers who have already ...

Time is running out for Brexit deal, EU tells Britain

European Union diplomats have warned Britain that time was fast running out for a Brexit deal, and that it may already be too late to ratify one, as ...

Proposed change to VAT refund scheme will impact jobs, retail sector – report

Proposed changes to a VAT refund scheme, availed of by non-EU residents who purchase craft and gift items here, will impact jobs, tourism and the retail sector, a ...

UK and EU still ‘far apart’ as Brexit talks resume

EU and UK officials are due to resume intensive negotiations in Brussels this morning on a future relationship treaty. Both sides are said to be still far apart ...

40% of jobs here ‘disrupted’ by pandemic – EY

Two in every five jobs here have been disrupted by the Covid-19 pandemic, according to the accounting and professional services group EY in its latest Economic Eye report. ...

Consumer prices fall 1.5% in year to October – CSO

Consumer prices fell at their fastest rate in a decade in October, with prices down 1.5% compared to the same month a year ago, new figures from the ...

Brexit grace period for NI retailers considered

The European Commission and British government are discussing a possible grace period to allow retailers in Northern Ireland time to adapt to the significant changes that will come ...

Family businesses most concerned about tax system here

Ireland’s taxation system has been ranked as the number one concern among family businesses, according to the results of the first National Family Business Sentiment Survey published today. ...

Irish mortgage rates third highest in euro zone

Mortgage rates in Ireland still remain elevated compared to the country’s euro zone neighbours, new Central Bank figures show. Ireland had the third highest mortgage interest rates across ...

EU-UK trade talks set to go past mid-November deadline

Talks between the UK and the European Union on a post-Brexit trade deal are likely to run into next week, missing a mid-November deadline, Minister for Foreign Affairs Simon ...

FDI warns of ‘serious’ disruption even if Brexit trade deal reached

The Irish food and drink industry has warned of serious economic disruption even if EU and UK negotiators reach agreement on a free trade deal in the coming ...

Covid will cause Irish food service market to contract by half – Bord Bia

The Covid-19 pandemic will cause the Irish food service market to contract in size by nearly half this year, new estimates from Bord Bia have found. However, the report ...

Tax policies ‘could be key factor’ in economic performance – ESRI

Researchers at the Economic and Social Research Institute have asserted that Ireland’s tax policy “could be one of the key contributing factors to the country’s strong economic performance”. ...

Ulster Bank urges online shoppers to be ‘scam savvy’

Ulster Bank is urging online shoppers to be on the lookout for more than just bargains this Black Friday and Cyber Monday, with criminals increasingly targeting unsuspecting shoppers ...

Biden victory may boost Brexit talks with UK – Simon Coveney

The Minister for Foreign Affairs said a Joe Biden presidency may make some difference to Brexit negotiations, adding that the US president-elect is a “real friend to Ireland” and supporter ...

Insurance firms anxious about rising claim costs from pandemic

More than a third of insurance firms are worried about the cost of claims, particularly from Covid-19, while 60 per cent fear they will see a reduction in ...

EU to impose tariffs on US goods but makes last-ditch offer of further negotiations

The European Union will impose tariffs on American goods worth $4bn starting today in a tit-for-tat escalation over illegal aid to aircraft manufacturers Boeing and Airbus. EU trade ...

Gap between highest and lowest mortgage rates at a five-year record

The gap between the highest and lowest mortgage rates has stretched to a five-year record. It comes after the launch of a mortgage rate of less than 2pc ...

Pandemic prompts more people to plan for their financial future – survey

The pandemic has prompted people to put more emphasis on the need to plan for their financial future. More than six out of 10 people said they now ...

ESB to co-develop €3bn offshore wind farm in Scotland

The ESB has teamed up with a Chinese-owned firm to develop a €3bn-plus wind farm off the coast of Scotland. It’s the second major Scottish offshore wind farm ...

Mortgage lending hit from Covid not as big as feared – Goodbody

Improving trends in the housing market should help banks restore some of their lost income from depressed mortgage activity, according to Goodbody. The stockbroker said it expected mortgage ...

UK trade will face ‘significant disruption’ when Brexit transition ends

UK trade with the EU will face “significant disruption” when the Brexit transition ends, regardless of whether a trade deal is agreed, the UK government spending watchdog has ...

Card spending peaked ahead of Level 5 restrictions

Credit and debit card spending dropped following the introduction of Level 5 restrictions, according to the latest data from the Central Bank. As seen with the original restrictions ...

Surveyors expect declines in both retail and office rents

Prime and secondary retail rents could fall by 11pc and 13pc respectively over the 12 months to the end of September 2021 according to the latest survey of ...

Former Revenue boss Feehily to head up review of pension age

Former head of the Revenue Commissioners Josephine Feehily is to head up a new commission that will make recommendations to the Government on the age that people will ...

Housing market outperforms expectations – Goodbody

Housing output was not as severely affected by the pandemic restrictions as previously thought, according to Goodbody. Its latest BER Housebuilding Tracker – which it calculates using data ...

Pandemic uncertainty and Brexit deliver October hit to services

Business activity for Ireland’s services sector suffered a second monthly decline in October as uncertainty over the pandemic and Brexit hit expectations, according to the AIB Ireland Services ...

11% increase in PUP recipients in seven days

Almost 330,000 people will receive the Pandemic Unemployment Payment this week – up over 11% in the last seven days, according to the latest Department of Social Protection ...

European stocks drop as US election race tightens

European stocks slid this morning in early trade as the race for the White House remained too close to call.  London’s FTSE index had dipped 0.1%, while the ...

Factory data lifts shares but investors remain wary of US election outcome

Shares recovered globally from one-month lows yesterday as strengthening factory data in China and Europe offset news of new virus lockdowns, while investors prepared for more volatility arising ...

Cabinet to discuss establishment of pensions commission

The Cabinet meets this morning with Social Protection Minister Heather Humphreys expected to bring a memo proposing the formal establishment of a Commission on Pensions. Under the Coalition’s ...

ISME writes to TDs to express Level 5 lockdown concerns

The Irish SME Association (ISME) has written to all TDs in Ireland to express its grave concern at the latest national “lockdown” due to Covid-19.  ISME told the ...

Pandemic sparks increase in online shopping

Two in five people stay they began shopping online for the first time at the start of the pandemic. It comes as an initial lockdown in Ireland at ...

Market for private rentals is strong with shortage of supply a big factor

The private rental market is among the few areas of the commercial property sector to so far escape being negatively impacted by the threat of a hard Brexit ...

Covid lockdowns bring recession threat back to Europe

Europe’s economic recovery is being cut short as governments implement new restrictions to fight the coronavirus that risk driving the region toward another recession. The four biggest economies ...

Ireland set for €8bn more ECB support

IRELAND is in line for €8bn of further borrowing support after the European Central Bank (ECB) signalled it would expand the Pandemic Emergency Purchase Programme (PEPP) in December. ...

Mortgage holders leaving thousands of euro on the table by failing to switch home loan providers – CBI research

Mortgage holders are leaving thousands of euro on the table by failing to switch home loan providers, according to new research by the Central Bank of Ireland (CBI). ...

AIB says Q3 performance more resilient than expected

AIB said its performance in the third quarter was more resilient than it had expected with positive momentum reported on a quarterly basis. In a trading update for ...

Sterling could drop to 97p against the euro if no trade deal struck

Small and medium sized companies are generally showing signs of resilience in the current challenged trading environment, but there are concerns for particular sectors. That is according to ...

Retail sales rise before introduction of tighter restrictions

Retail sales rose by 1.5 per cent in September boosted by car and DIY sales but several sectors, including bars, were still well behind pre-pandemic levels. The latest ...

Rising infection numbers drag global stocks lower

Stocks tumbled in the US and Europe as rising coronavirus infections and tougher lockdowns added to worries about the economic hit from the pandemic. The S&P 500 Index ...

Disposable income in Ireland rose 28% between 2012 and 2019

The average disposable income of Irish households rose by nearly 30 per cent between the financial crisis and last year, according to the Central Statistics Office (CSO). The ...

Over 11,000 customer accounts with Bank of Ireland remain on payment breaks

Just over 11,000 Irish customer accounts with Bank of Ireland are currently on payment breaks, as Covid-19 continues to impact economic activity. The total value of these loans ...

Ireland ranked top in Europe for startup financing

Ireland is one of the best places in Europe for young companies to source investment, list on the stock market and access global capital, according to a new ...

Q3 mortgage approvals up by a third as mortgage market recovery continues

There was a significant increase in mortgage approvals in September, but the value of mortgages drawn down in the latest quarter was still down significantly on the same period last ...

Accountants plead with Johnson for NI customs solution

Tax practitioners have written to British Prime Minister Boris Johnson to urgently seek some temporary mechanism to ease custom disruption between Ireland and Northern Ireland at the start ...

‘Use your tax deadline extension to invest in pension’: advice for thousands who have an extra four weeks to pay

THOUSANDS of self-employed people and PAYE workers with non-taxed income have an extra four weeks to file a tax return. Some 500,000 people pay and file a return ...

UK retail sales growth beat expectations in September

British retail sales beat expectations in September to cap a record quarter of growth that took total sales volumes further above their pre-pandemic level, but rising Covid cases ...

70 days until Brexit transition ends – Coveney

The Minister for Foreign Affairs has called on all Irish businesses who rely on suppliers, producers, clients and customers from the UK to immediately check on their preparations ...

Barnier says ‘every day counts’ as Brexit talks continue

Post-Brexit trade talks between the UK and European Union will continue in London as Michel Barnier said both sides have a “common responsibility” to strike a deal. The ...

Varadkar stresses wisdom of managing public finances ‘soundly’

The Tánaiste has said the framework for the upcoming National Economic Plan would have to be based on the wisdom of managing the public finances soundly. Launching a ...

Sterling holds near new highs as Brexit talks restart

The pound slipped slightly this morning, but remained close to six-week highs it touched on the previous day after news that stalled Brexit negotiations were due to resume.  ...

EU and UK negotiators to resume stalled post-Brexit talks in London

EU and UK negotiators will resume talks in London later today after both sides agreed to set out an intensified schedule of negotiations in the coming weeks. A ...

Half of people on Pandemic Unemployment Payment to get €50 increase

HALF of those claiming the pandemic unemployment payment will get a €50 increase in their payment bringing it to €350 a week. A total of 122,000 people will benefit ...

RTÉ to reinstate frozen incremental wage increases

RTÉ is to make immediate arrangements to reinstate previously frozen incremental wage increases to affected staff, after accepting a recommendation of its internal Industrial Relations Tribunal. Earlier today, ...

EU Council chief says UK has choice to make on Brexit

Britain has sovereign choices to make on Brexit and they will determine its future access to the EU’s internal market, European Council President Charles Michel has said. He ...

EU pledges to intensify talks on Brexit and legal texts

Senior European Union officials have said the EU is ready to intensify talks towards a deal on future trade ties with the UK after a meeting to discuss the ...

Urgent need to focus on pension sustainability here – Mercer

Ireland is ranked in 14th place out of 39 countries in the 2020 Mercer Global Pensions Index despite the country’s underlying sustainability issue.  The Netherlands topped the index ...

Retailers disappointed at decision to close all non-essential retail

Retailers have reacted with deep disappointment to the Government’s decision to close all non-essential retail as part of the move to Level 5. Retail Ireland described it as ...

Tánaiste says Govt may review PUP cut plans in January

The Tánaiste has indicated that the Government would review the plan to further reduce the Pandemic Unemployment Payment in January if the country is still in the teeth ...

Sterling falls as EU leaders press for elusive Brexit trade deal

Sterling weakened today as traders worried about the obstacles keeping the European Union and Britain from reaching a Brexit trade deal.  The pound has risen in recent sessions, ...

Johnson to set out position on Brexit negotiations

British Prime Minister Boris Johnson will today set out his position on the future of the Brexit negotiations. Last night, there was a firm message from EU leaders ...

Budget measures could see 35,000 new homes a year – CIF

The supply of new homes here could reach the required 35,000 per annum within years, as a result of initiatives announced in Budget 2021, the Construction Industry Federation ...

What essential retailers can remain open under Level 4?

As Donegal, Cavan and Monaghan move to Level 4 in the Living with Covid-19 framework, business owners, service providers and consumers will be wondering what is allowed to stay open and ...

European leaders gather for two-day summit that will assess EU-UK negotiations

Taoiseach Micheál Martin will join other EU leaders in Brussels this afternoon for a two-day summit in which they will assess the prospects for a breakthrough in the Brexit ...

Retention and creation of jobs central focus of Budget 2021

Jobs were always going to be centre stage in Budget 2021 – not just creating new ones, but clinging on desperately to the imperiled ones that already exist. ...

Tourism VAT rate cut to 9% from 13.5%

The VAT rate for the hospitality and tourism sector will be cut from 13.5% to 9% with effect from November 1, Minister for Finance Paschal Donohoe has announced. ...

EU summit to say Brexit progress ‘still not sufficient’

European Union leaders meeting in Brussels tomorrow and on Friday to discuss Brexit will say that progress in talks with Britain is “still not sufficient” to seal a ...

Domestic growth lagged pre-Covid

Multinational corporations (MNCs) were already outpacing indigenous firms in Ireland before Covid made business conditions more difficult for the domestic sector. Sectors dominated by foreign-owned companies – such ...

Sterling holds above $1.30 ahead of new lockdown measures

Sterling edged lower against the dollar today, with British Prime Minister Boris Johnson expected to announce new restrictions as the Covid-19 outbreak accelerates, but hopes for a Brexit ...

From a €4bn ‘super fund’ to the PUP Christmas bonus: Everything we know about Budget 2021 so far

Tomorrow the Government will reveal details of the Budget 2021. Here’s everything we know so far… ■ Between €4bn and €5bn for a ‘super fund’ to deal with the ...

PUP may be extended beyond April but at a level affordable over long term: Humphreys

The Pandemic Unemployment Payment (PUP) may be extended beyond its end date of next April, Social Protection Minister Heather Humphreys has suggested. Speaking in the Dáil, she said: ...

Eurozone facing ‘tougher’ time, says ECB chief economist Lane

The Eurozone economy is facing a “tougher” period than in spring as the pandemic continues to heap pressure on members, according to former Central Bank of Ireland governor ...

Lower than forecast budget deficit of €21bn expected this year

The Government expects to run a budget deficit this year of just over €21bn or 6% of GDP.  This figure is lower than forecast, largely due to stronger ...

First broadband plan community connection points open

The first 50 of 300 community Broadband Connection Points (BCPs), that are being rolled out as part of the National Broadband Plan (NBP) have been connected. BCPs are ...

Core budget spending to rise by €3 billion in 2021 – McGrath

The Minister for Public Expenditure and Reform has said that without accounting for policy measures in key areas, such as health and housing, the Budget estimates for next ...

UK economy grows by 2.1% in August, lower than expected

The UK economy grew much more slowly than expected in August, setting back its recovery from the coronavirus lockdown. Much of what growth recorded in August was down ...

Another full-blown lockdown ‘not inconceivable’ – Minister Ryan

The Minister for Transport Eamon Ryan has warned that another full-blown lockdown is “not inconceivable”, and that allocating further supports for the aviation sector will involve hard choices ...

Reduced construction activity hits Govt’s social housing targets

The Government has admitted that its supply of social housing is only 35% of target due to the reduction in construction during Covid-19 restrictions. Opposition parties have described ...

Varadkar urges all 225,000 companies to be Brexit ready

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar is writing to every business in Ireland urging them to prepare for the change in relationship between Britain ...

Government approves 10c an hour minimum wage increase

The Government has approved an increase in the National Minimum Wage of 10 cent an hour, which will bring  it to €10.20 per hour from 1 January.  The move is set ...

Revenue brings forward payment date for EWSS

Revenue has brought forward the date of payment for Employment Wage Subsidy Scheme supports to eligible employers.  EWSS payments in respect of September payroll submissions, which were due ...

Tourism taskforce urges radical steps to sustain industry

The Tourism Recovery Taskforce has called for radical steps to sustain and revive the industry post-Covid 19 including €120m in grant aid, a loan scheme and staggered school holidays. ...

Euro zone economic recovery in danger as Covid-19 resurgence hits service industries

The euro zone’s economic recovery faltered in September with growing evidence sectors and countries in the bloc are diverging as a resurgence of Covid-19 forces the reimposition of restrictions ...

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