Services sector prices, backlogs hit 21-year highs – PMI
Growth in the services sector eased slightly in October from the previous month but remained near historic highs as the Covid-19 recovery pushed growth in prices and work backlogs to their highest levels in 21 years. The AIB IHS Markit Purchasing Managers’ Index (PMI) inched down to 63.4 from 63.7 last month and from a […]
9 things to avoid buying this Christmas to save money
With less than six weeks to go until Christmas, it’s time to start planning your shopping list – if you haven’t already – and staggering your spending so as to make your outgoings as manageable as possible. But just as important as managing your money for the things you are going to buy is figuring […]
28% rise in new companies registered so far this year
There has been a 28% rise in the number of new companies registered in Ireland in the first nine months of the year compared with the same time in 2020, according to CRIF Vision Net. However, the figures suggest that start-up activity slowed in the third quarter, with growth of just 4%. This compares to […]
‘Global business community not prepared to deal with climate emergency’
The global business community is not prepared to deal with the climate emergency, according to Accenture’s Global Sustainability Services Lead Peter Lacy. The United Nations Global Compact is a non-binding UN pact to encourage businesses and firms worldwide to adopt sustainable policies. In its latest report with Accenture, it found that only 18% of CEOs […]
How to tell if an ‘eco-friendly’ firm is greenwashing
We’re seeing more ‘eco-friendly’ and ‘all natural’ products on our shelves, as consumers demand more sustainable choices. But as companies come under increased pressure to meet their Environmental, Social, and Governance (ESG) goals, how can we tell if some are twisting the truth? When their sustainable claims are untrue or exaggerated they can be accused […]
Manufacturing growth back near record high – PMI
Growth in factory activity rose back towards all-time highs in October despite production remaining constrained by supply delays and input and output price inflation hit fresh record levels, a survey showed today. The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 62.1 from 60.3 in September, having hit a record 64.1 in May. […]
Target of 900K electric vehicles by 2030 difficult – industry experts
Getting 900,000 electric vehicles on Irish roads to slash transport emissions by the end of the decade will be difficult if current levels of cars sales continue, Morning Ireland has learned. Brian Cooke, Director General of the Society of the Irish Motor Industry [SIMI], told the programme that reaching the 2030 target – as set […]
30% of households have filed Local Property Tax return
Around 30% of households liable for the Local Property Tax have filed their return, ahead of the deadline which is just over a week away. Revenue said around 95% of those returned were filed online in either My Account, ROS or the LPT Online Portal. The deadline for filing is 7 November. “Before submitting the […]
Ulster Bank urges customers to get ready for changes
Ulster Bank is encouraging customers to get ready for changes coming next year as part of the bank’s withdrawal from the Irish market, which was first announced in February. But the bank said it is continuing to serve its existing customers, so no action is required by them yet. Ulster Bank said it will contact […]
Nightclub owners face fines for Covid breaches
Nightclubs and venues that breach new ticketing laws will be fined up to €2,500 under regulations which come into force today. Tickets must be purchased at least one hour in advance and contain names and phone numbers to facilitate contact tracing, while patrons should be advised their details will be held for 28 days. Under […]
Global tax rate could see Ireland collect extra €12.4bn
Ireland could collect an extra €12.4 billion in corporation tax under the proposed 15% global minimum rate. That’s according to figures published today by the EU Tax Observatory, an independent think-tank based in Paris that receives funding from the EU. Based on OECD tax figures for 2016 and 2017, the Observatory estimates that the rule […]
IoD: 33% of boards have no succession plan
One third of business leaders say their primary board does not have a succession plan in place to replace board members, according to new data from the Institute of Directors (IoD) in Ireland. “A board with no succession plan is not future-proofing its business nor planning for the board diversity which is essential for an […]
Changes to employment permit system to address shortages
Changes are being introduced to the employment permit system to allow a greater number of workers from outside the European Economic Area work here. The changes will include the removal of quotas for HGV drivers, as well as additional permits for hospitality managers and a loosening of the rules for construction workers, opticians and meat […]
Farming – a big problem for Ireland’s climate goals?
According to Teagasc, the semi-state agency that advises the agriculture industry, dairy farming is the most profitable of Ireland’s mainstream agricultural enterprises. Data from the Environmental Protection Agency (EPA) shows that, in 2020, the number of dairy cows on Irish farms rose for the 10th consecutive year, climbing by 3.2%. Profits in the sector are […]
Progress on talks over collective bargaining rights – ICTU
The Irish Congress of Trade Unions says some progress has been made in talks with the government on collective bargaining rights, which is one of the main issues on the agenda for discussion during ICTU’s two day biennial conference in Belfast. ICTU delegates will discuss a number of motions on collective bargaining rights tomorrow. Speaking […]
Third quarter mortgage drawdowns jump by 40.9% – BPFI
New figures show that the volume of new mortgages drawn down in the third quarter of this year jumped by 40.9% compared to the same time last year. Banking & Payments Federation Ireland (BPFI) said a total of 11,479 new mortgages, worth €2.784 billion, were drawn down by borrowers during the third quarter of 2021- […]
EU to discuss gas supply crisis and electricity prices
European energy ministers are holding a special meeting in Luxembourg to try to forge agreement on how to emerge from the current crisis in gas supplies, and the knock-on effect to electricity prices. Ireland has joined eight other mostly northern European countries in rejecting calls for a wholesale reform of the single energy market, or […]
Consumer confidence slipped in October – BOI Economic Pulse
Consumer confidence slipped in October, according to the latest Pulse survey from Bank of Ireland, which found that consumers were more concerned about rising prices. The Bank of Ireland Economic Pulse posted a reading of 87.6 in October 2021. The index, which combines the results of the Consumer and Business Pulses, was down 0.6 on […]