Dublin 4th most attractive European city for FDI – EY report
Dublin is the fourth most attractive European city to foreign investors, according to a new report from EY. The city was chosen by 17% of respondents in the EY European Attractiveness Survey as an attractive city for FDI over the next three years, three times higher than last year. Ireland remains one of Europe’s top […]
Central Bank’s profits boosted by record level of fines
A record amount in monetary fines imposed on financial firms and individuals by the Central Bank in 2021 contributed to profits at the bank last year increasing by 59% to €1.32 billion. That is according to the 2021 annual report for the Central Bank which reveals that a dividend of €1.067 billion will be paid […]
30% would take lower-paid job to guarantee remote work – survey
Almost one third of workers would change jobs – even if it means a pay cut – if their remote working preferences are not facilitated, according to the third annual National Remote Working Survey. 37% of respondents said they would change jobs for remote working, even if it meant fewer promotion opportunities. 30% also indicated […]
Consumer sentiment rallies in May, but business sentiment unchanged
A new monthly economic survey shows that while households remain cautious, the arrival of the holiday season looks to have raised their spirits a little. But the mood among firms was little changed, with three in five still saying that they are finding it difficult to predict the future development of their business situation at […]
62% cutting back on food spending as prices rise – PTSB research
New research has found that 62% of people feel they will have to cut back on food spending over the coming year in response to sharp price rises, while 53% of people worry they will be unable to pay higher energy bills. The findings are part of the latest in the Permanent TSB research series […]
Dell beats estimates for quarterly results on strong enterprise demand
Dell Technologies has beaten Wall Street estimates for quarterly profit and revenue, as enterprises invested heavily in the company’s desktops and laptops to support hybrid work. Dell’s shares rose about 7% in extended trading as the PC maker forecast current-quarter revenue and profit above analysts’ expectations. The company has seen strong demand for its products […]
Asda sales fall 9.2% in first quarter
British supermarket group Asda has reported a near double-digit fall in first quarter sales, which it said reflected comparison with exceptionally strong trading in the same quarter last year when the UK was in a Covid-19 lockdown. Asda said first quarter to March 31 like-for-like sales, excluding fuel, fell 9.2% year-on-year, having fallen 2.9% in […]
Holidays a priority despite rising cost of living – KBC sentiment index
Irish consumers plan to spend more on holidays this year despite concerns about the rising cost of living, according to the latest KBC Bank Ireland consumer sentiment index. The survey for May asked a special question on holiday spending plans, and the answer hinted at a resilience in people’s personal finances. Austin Hughes, Chief Economist […]
E-commerce platform eDesk to create 150 jobs
E-commerce platform eDesk is to create 150 jobs over the next 18 months. The new positions will be at the company’s Dublin HQ, Derry, Skibbereen, and the east coast of the US, where 20 of the new roles will be based. It will bring the total headcount to 250 and eDesk says the growth will […]
Supermetrics to create 100 jobs and open new Dublin office
Marketing data software company, Supermetrics, is to create 100 new jobs in Dublin. The roles will be filled over the next two years. The Helsinki based firm is also opening a new office in the capital. Supermetrics said the expansion of its Dublin operations showed its commitment to the region and also strengthens its international […]
Car hire costs undermine Irish good value reputation, says Fáilte Ireland
An organisation which supports and promotes tourism in Ireland has said rising car rental prices are undermining Ireland’s reputation as a good value for money destination. Fáilte Ireland added that those who cannot secure a car booking may decide not to come to Ireland. It said this represents a major loss for the wider tourism […]
307 PayPal jobs under threat in Dublin and Dundalk
307 jobs are under threat at online payment firm PayPal’s offices in Dublin and Dundalk in Co Louth. The company is opening a consultation with impacted staff who have been notified about the situation. The roles that are being targeted for compulsory redundancy are across a range of functions. 135 of the positions are based […]
FSU says staff ‘at breaking point’ over exits of Ulster Bank, KBC
The Financial Services Union, which represents bank workers, has said its members are at breaking point dealing with the increased workload caused by the exits of Ulster Bank and KBC. The union has commissioned a survey of its members, which shows that 88% of respondents feel stressed at work either on a regular or very […]
CCPC clears Bank of Ireland-KBC deal but imposes conditions
The Competition and Consumer Protection Commission has cleared, subject to a number of legally binding conditions, the proposed €5 billion acquisition by Bank of Ireland of KBC Bank Ireland’s performing loans and deposits. The clearance of the proposed deal would see Bank of Ireland buy KBC’s performing loan assets, including performing mortgages, and commercial and […]
Leitrim-based Cora Systems to create 300 jobs
Irish software company, Cora Systems, is to create more than 300 jobs, half of which will be in Ireland. The positions will be in a range of specialties including research and development, global sales and marketing, and professional services. 150 of the roles will be based in the firm’s Carrick-On-Shannon headquarters, or nearby under a […]
Greencore reports return to profits, higher H1 revenues
Convenience food group Greencore has reported a return to profitability and higher revenues for the first half of its fiscal year. Greencore said its profit before taxation increased from a loss of £1.8m the same time last year to a profit of £1m this year, on the back of higher group operating profit and lower […]
Start-up activity drops 12% amid rising costs
5,600 new companies were registered in Ireland in the first three months of the year, down 12% on the same time last year. New data from CRIF Vision-net suggests that some people are holding off on launching new businesses due to rising costs, and supply chain problems. “What we are seeing is a bit of […]
Irish firms suffering with renewed supply chain problems
Irish businesses are once again having to restructure their supply chains, amid renewed disruption caused by the resurgence of Covid-19 in China, the Ukraine war and soaring fuel costs. Economists have warned that if continued, the global difficulties will contribute to lower economic growth and higher inflation. Central to the problems are the ongoing heavy […]