Unemployment rate rises to 4.9% in July
The unemployment rate increased slightly in July when compared to the previous month, new figures from the Central Statistics Office show. The seasonally adjusted rate was 4.9%, up from 4.6% in June. The monthly youth unemployment rate for those aged 15-24 jumped to 12.2%, from 11.3% the previous month. The rate for those aged 25-74 […]
Tax take to end of July up 7.5% on same time last year
The amount of tax collected by the State between January and the end of July was up by 7.5% on the same time last year, when once off payments related to the Apple tax ruling are excluded. The latest Exchequer Returns show that so far this year, €56.2bn in tax receipts were collected, an increase […]
Revenue writes to almost 70,000 pensioners over incorrect tax payments
The Revenue Commissioners has written to almost 70,000 pensioners over issues relating to incorrect tax payments. The retirees are among around 260,000 taxpayers who may have overpaid or underpaid tax for the year 2022. Revenue said the group includes about 68,000 people aged over 65, but it insisted it has not launched a campaign specifically […]
Bank of England set to cut interest rates again
The Bank of England looks poised to cut interest rates for the fifth time in 12 months today but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Governor Andrew Bailey and most of the Monetary Policy Committee are expected to favour taking Bank Rate to […]
Revenue overpayments to staff reached €1.7m by end of 2023
The value of salary overpayments to Revenue staff reached almost €1.7 million at the end of 2023 with more than one in seven of its workforce getting paid above their proper salaries, according to the findings of an internal audit by the tax authorities. The audit report revealed that 61 Revenue employees had received overpayments […]
Growth in services sector eases further in July
Growth in the services sector eased again in July, according to the latest Purchasing Managers’ Index from AIB. The index dropped to 50.9 from 51.5 in June, marking the slowest pace of growth since January 2024. This was driven by softer output, new business and hiring activity. Three sectors registered growth of activity in July. […]
Tariffs on pharmaceuticals could reach 250%, says Trump
US President Donald Trump has said that upcoming tariffs on imported pharmaceuticals could reach 250%, after starting at a lower level, while adding he plans to also unveil fresh duties on foreign semiconductors. “We’ll be putting (an) initially small tariff on pharmaceuticals, but in one year, one-and-a-half years, maximum, it’s going to go to 150%,” […]
Is AI making our brains lazy?
Have you ever googled something but couldn’t remember the answer a short time later? Well, you’re probably not alone. Multiple studies have shown that “digital amnesia” or the “Google effect” is a consequence of having information readily available at our fingertips. It happens because we don’t commit the information to memory in the knowledge that […]
9 out of 10 small businesses use AI tools – survey
New research from the Small Firms Association (SFA), shows that 9 out of 10 small firms are using artificial intelligence (AI) for one or more business processes. The most popular uses for AI were reported to be automation of simple tasks and data analytics reporting. The study found that the main barrier to deeper adoption […]
Home Building Finance Ireland grows loan approvals 13% to €3 billion
Home Building Finance Ireland, which was set up by the Government to fund the delivery of new homes, has grown total loan approvals 13% to €3 billion at the end of June this year. HBFI’s H1 2025 performance update, published today, shows new loan approvals of €336m in the first 6 months of the year. […]
Trump hits dozens of countries’ goods with steep tariffs
US President Donald Trump has imposed steep tariffs on exports from dozens of trading partners including Canada, Brazil, India and Taiwan, pressing ahead with his plans to reorder the global economy ahead of today’s trade deal deadline. He set rates including a 35% duty on many goods from Canada, 50% for Brazil, 25% for India, […]
Government to discuss impact of EU-US trade deal
A meeting of the Government’s Trade Forum will discuss the impact on Ireland of the EU-US trade deal. Officials from the Department of Finance are due to give a preliminary analysis of what impact the 15% tariff will have on the Irish economy. It is also expected that a joint statement could be issued today […]
Food prices up an estimated 4.6% in July – CSO
Food prices are estimated to have risen by 4.6% over the last 12 months, according to new figures from the Central Statistics Office. Food prices rose by 0.2% in the last month, the CSO added. The CSO today published a flash estimate for inflation which showed the cost of living has risen by 1.6% in […]
Ireland ranked most competitive country in euro area
Ireland has been ranked as the most competitive country in the euro area but the country has slipped back in its global standing. The latest annual World Competitiveness Rankings from the International Institute for Management Development reviewed 69 economies. It has listed Ireland as the world’s seventh most competitive economy in 2025, down from fourth […]
Call for pensions to be able to tap into private markets
Changing pensions rules to allow investments in private markets would benefit consumers and the country, according to the CEO of one of Ireland’s leading investment firms. With the pension auto-enrolment scheme set to come into place at the start of next year, the Irish pension sector is set for its most significant change in decades. […]
Electricity demand set to grow by two thirds by 2050
Electricity demand is set to grow by two thirds by 2050, a new report shows. This increased demand will be driven in the short term by the needs of data centres, according to the report by Pinergy and global insight business Wood Mackenzie. In the long term, it states that electricity demand growth will be […]
US confirms 15% tariff for EU includes pharmaceuticals and semiconductors
The White House has confirmed that the 15% tariff agreed between the European Union and the United States includes pharmaceuticals and semiconductors. There had been some confusion over whether or not the products were covered by the trade deal after President Donald Trump said on Sunday that pharma was not included. European Commission President Ursula […]
How the ‘sandwich generation’ are caught up in cost of living crisis
If society were a family, the sandwich generation would be the middle child: steady, responsible and too often overlooked. These are adults who simultaneously care for ageing parents and young children, all while managing household budgets, work commitments and rising living costs. As Ireland’s population grows older and childbirth happens later in life, more families […]