Lakeland Dairies CEO Michael Hanley to retire in December
The Chief Executive of Lakeland Dairies, Michael Hanley has announced his decision to retire at the end of this year. He has held the position for 16 years but has worked with the co-operative for 36 years. During his term as CEO, Mr Hanley led the transformation of Lakeland Dairies to become the second largest […]
Govt set to agree to extend lower VAT rate for hospitality
The Government is set to agree to extend the lower VAT rate for the hospitality sector when the Cabinet meets this morning. Minister for Finance Paschal Donohoe is likely to bring what is termed an “under the arm” memo outlining the details of the extension. It is thought that the 9% lower VAT rate, which […]
Writech announces 50 jobs in Mullingar
Fire protection company Writech has announced the creation of 50 jobs with the launch of a new design and innovation centre in Mullingar, Co Westmeath. The company has invested €2 million in the facility which uses state-of-the-art 3D technology to design, engineer, manufacture and assemble products and systems for clients. The centre will lead to […]
British govt to prioritise further talks on Northern Ireland Protocol
The British government is not expected to announce any moves to unilaterally scrap the Northern Ireland Protocol. There had been reports in the British media that the Queen’s speech, which sets out the legislative programme for the year ahead, would announce a law to override the Northern Ireland Protocol. That would be regarded as a […]
Oil slips on global economic concerns, ahead of EU vote on Russia oil ban
Oil prices slipped today, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand. Investors are also eying European Union talks on a Russian oil embargo that is expected to tighten global supplies. Brent crude dropped 28 cents, or 0.3%, to $112.11 a barrel early this morning while US […]
Public transport passenger numbers up as fares reduce
The National Transport Authority has said passenger numbers on public transport have increased as fares are being reduced as part of Government plans to help ease the cost of living and to encourage more sustainable travel. It is the first time public transport fares have been cut nationally since 1947. Fares on Dublin Bus, Luas, […]
Air fares will rise due to higher oil prices – Aer Lingus CEO
The chief executive of Aer Lingus has said it is inevitable that fares at the airline will rise as a result of rising oil prices. Lynne Embleton said fuel costs are a large part of the overall cost base of an airline, typically making up 25-30%. “When fuel price goes up it is inevitable eventually […]
Food prices ease slightly in April after record surge – UN agency
World food prices eased slightly in April after hitting a record high in March, but global food security remained a concern because of the difficult market conditions, the UN food agency said today. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 158.5 points last month […]
Aer Lingus owner expects to be profitable from Q2
Aer Lingus and British Airways-owner IAG said today it had seen a strong recovery in business travel in the first quarter and it expected to be profitable from the second quarter onwards and for the full year. The company, which also owns Iberia and Vueling, said the continued easing of government-imposed travel restrictions, resulted in […]
Irish economy to grow, inflation to fall next year – IMF
The International Monetary Fund has said growth in the Irish economy is expected to “remain strong”. But it warned that risks are “tilted to the downside” as there is “substantial uncertainty” due to the fall-out from the ongoing war in Ukraine. The IMF forecasts growth in GDP (Gross Domestic Product) terms of 6% this year […]
Grocery price inflation hits 4.7% – Kantar
The average household is facing a €330 price increase on their annual grocery bill, according to the latest figures from consulting company Kantar. 23% of households also said they are now struggling to make ends meet when it comes to their weekly food shop, Kantar added. Today’s figures show that grocery price inflation hit 4.7% […]
84% of businesses survived Covid pandemic – CSO
Around 6% of businesses that were operating in 2019, before the Covid-19 pandemic began, appeared to have closed by the end of last year, new data from the Central Statistics Office has found. Of the 1.5 million people employed in all the businesses captured by the survey, just 2% had been working in those that […]
EU chief proposes phased ban on Russian oil
European Union countries will stop importing Russian oil and refined products by the end of the year, Ursula von der Leyen has told the European Parliament. The European Commission President announced a sixth round of sanctions against Russia for waging war on Ukraine and pledged to minimise the impact on European economies. The plan, if […]
Employment boost keeps manufacturing growth booming – PMI
Rapid manufacturing growth continued at a similar level in April compared to a month earlier as the strongest boost to employment in almost a year mostly offset a slight slowdown in new orders and output growth, a survey showed today. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) fell slightly to 59.1 from 59.4 […]
Community sector workers to stage protest in Dublin
Trade union members working in the community sector and for Section 39 healthcare organisations are to hold a protest in Dublin today. The demonstration is being staged to call for better pay and conditions and for greater recognition of the work being carried out by employees in the sector. The workers involved are employed by […]
€1,000 for farmers to help prevent fodder shortage
Farmers are set to benefit from a new silage support scheme that is being brought to the Cabinet for approval by Minister for Agriculture Charlie McConalogue later today. Under the proposed scheme, farmers will be entitled to a payment of €100 per hectare of silage they cut, up to a maximum of 10 hectares. The […]
AIB in talks for Ulster Bank’s tracker mortgages
AIB said it has started exclusive discussions with NatWest for the acquisition of about €6 billion of Ulster Bank’s performing tracker mortgages. The bank said that any potential transaction remains subject to negotiations and agreement. It is believed that up to 40,000 tracker mortgages could be included in the sale. The Competition and Consumer Protection […]
KBC Bank Ireland extends current account closure notice
KBC Bank Ireland said it has decided to extend the notice period for the closure of current accounts from 90 days to six months. The move brings it in line with Ulster Bank, which is giving customers six months to move their accounts, and comes days after the regulator told banks that they need to […]