Asking prices for homes up almost 11%, growth rate slows – MyHome.ie
Cost-of-living concerns and rising interest rates will slow the demand for houses in the second half of the year, according to the latest house price report from MyHome.ie. It reveals that a “minor” fall in house prices could be on the way as a result, but states that a ‘Celtic Tiger’ crash in unlikely. Asking […]
AIB’s share trading plan extended up to January
Minister for Finance Paschal Donohoe said today he was extending AIB Group’s share trading plan, which was first announced in December. Since then the Government’s stake in AIB has been reduced from about 71.2% to about 68%. The plan aims to gradually reduce the State’s investment in the bank, while it is also improving liquidity […]
Expleo Ireland announces 200 new jobs for Cork
Expleo, a global technology, engineering and consulting service provider, has announced 200 new jobs and the opening of its first regional hub in Mahon in Co Cork. The company is investing €10m in the expansion of its workforce from 800 to 1,000 over the next two years. The majority of the 200 jobs will be […]
AIB set for record tracker mortgage fine from Central Bank
The Central Bank is set to hit AIB with a record fine later today for its role in the tracker mortgage issue. The banking group, which includes EBS, is said to have set aside €70m to cover the fine, which resulted from an enforcement investigation that has been running since 2017. Over 9,000 AIB customers […]
More Irish companies sign low carbon pledge
70 of Ireland’s biggest companies have now committed to setting carbon-reduction targets based on climate science, by signing a low-carbon pledge overseen by Business in the Community Ireland (BITCI), a not for profit organisation. The number of companies signed up to the pledge has increased from 47 in 2019, when it was first launched. Companies […]
Toast to create 100 jobs as it opens new Dublin office
US restaurant management platform Toast said it plans to create 100 jobs this year as it opens its new office on St Stephen’s Green in Dublin. Toast said the new jobs will be across several functions including software development, sales and customer support. Launched in 2013 in the US, Toast powers restaurants of all sizes […]
Lidl launches new EV and HVO vehicles into Irish fleet
Lidl has today started the rollout of its first electrical truck and hydrogenated vegetable oil (HVO) heavy goods vehicle (HGV) into its logistics fleet. The pilot scheme will see the sustainably powered vehicles join Lidl’s logistic fleet at its Newbridge Regional Distribution Centre. It marks the start of the retailer’s transition from fossil fuel commercial […]
AIB’s €400m non-performing loan sale cuts NPE ratio to 4.4%
AIB has sold a non-performing loan portfolio in long-term default to Everyday Finance, part of a consortium that includes Everyday, affiliates of Cerberus Capital Management and LCM Partners Limited. AIB said the €400m loan sale cuts its non-performing loan ratio to 4.4%. It added that it remains on track to reach its 3% target by […]
Ireland and Denmark most expensive countries in EU – Eurostat
Ireland and Denmark had the highest price levels for consumer goods and services across the EU in 2021, according to Eurostat. The EU’s statistics agency published data today showing price levels here and in Denmark were 140% of the EU average. The lowest prices levels were in Romania and Bulgaria at 56% of the average. […]
New €85m digital transition fund for businesses
The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses. The funding is designed to help companies develop new digital products, processes and services and will allow them invest in software, new equipment, staff training, automation and Artificial Intelligence (AI). €85 million in funding will be made […]
Primark to trial click & collect service in UK
Budget fashion chain Primark will trial a Click & Collect service on children’s products in the UK but said the move should not be seen as a precursor to an online delivery offer. Parent Associated British Foods said today the Click & Collect trial will take place in up to 25 stores in the northwest […]
Kingspan seeing ‘significant’ dip in May and June orders
Building insulation specialist Kingspan said today it had seen the mood in most end markets deteriorate over the last two months with order intake volume down significantly year-on-year in May and June. But orders were still up this month and last on the same pre-pandemic time in 2019. The Co Cavan-based firm said today that […]
Tesco sees early signs of changing customer behaviour as inflation hits
Tesco said today it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market environment “incredibly challenging”. Chief executive Ken Murphy vowed to work with suppliers to mitigate the impact of inflation as much as possible and support customers who are facing the most difficult economic conditions […]
Why experts see storm clouds over the economy
The beginning of the pandemic in 2020 brought with it an end to years of bullish economic growth. As Ireland headed into the general election, the economy was in rude health. Predictions were bright. Nobody predicted two years of Covid turbulence, followed swiftly by war in our neighbourhood. But, though Covid restrictions have eased, the […]
HCS invests €3.2m to double its workforce and revenues
IT, security and telecoms company HCS is investing €3.2m to double the size of its workforce and business revenues within the next three years. HCS has started its recruitment programme and will grow its workforce to 60 over the next three years. Following the investment, HCS is forecasting increased annual revenues of €9m by 2025. […]
Increased risk of more ‘medium-term’ inflation, Central Bank warns
The Central Bank has warned that broad based price pressures have increased the risk of more medium-term inflation. The regulator also said that these inflationary pressures present new challenges for borrowers. However, the bank said these pressures are coming at a time when many borrowers have built up higher resilience over the past decade. The […]
ISIF to invest €500m in five regional cities
The Ireland Strategic Investment Fund, known as ISIF, has announced plans to step up its regional investments. The fund, which is part of the National Treasury Management Agency, has a mandate to invest on a commercial basis to support economic activity and jobs. A new €500m investment programme will target the five regional cities of […]
Government funding of €55m to help businesses move away from fossil fuels
The Government is to make €55m available to businesses to help them move away from the use of fossil fuels. The new Green Transition Fund, to be launched later, will be made up of two parts. The Climate Planning Fund for Business, worth €25m, will provide firms with funding to help them plan how they […]