Donohoe announces plan to reduce stake in AIB
Finance Minister Paschal Donohoe said he intends to sell part of the State’s 71.12% directed shareholding in AIB Group over the next six months. The shares will be sold through a pre-arranged trading plan that will be managed by Merrill Lynch International (“BofA Securities”). BofA Securities was appointed to the role from the Department of […]
Health insurance: Why you should review before you renew
Most of us shop around for the best deal on our car insurance, but when it comes to health insurance we’re not so quick to switch. Changing provider or plan isn’t an easy job, but it is well worth setting aside some time each year to review your options. With almost one million people due […]
Views sought on EU multinational tax reporting law
The Government is seeking views from interested parties on a new EU law intended to make multinationals disclose their tax payments and activities in each member state. Ireland had opposed the so-called country-by-country reporting proposal at an EU level which would force multinationals with revenue over €750m to be more transparent about their tax activities. […]
‘Follow the spirit’ of new Covid guidelines – Holohan
Chief Medical Officer Dr Tony Holohan has said that the new restrictions beginning today will substantially cut the volume of total social contact across society if people follow “not just the letter but the spirit” of the guidelines. Dr Holohan said that “it is now down to people individually” to confine social engagements to small […]
Profitable firms should refund wage subsidies – Tánaiste
The Tánaiste has told the Dáil that profitable companies “should refund the money they received under the employment wage subsidy scheme”. Taking Leaders’ Questions, Leo Varadkar said that if a company “could pay their shareholders dividends, but they didn’t really need the wage subsidy money, well, I think that money should be repaid.” He was […]
Irish consumers could pay extra €170m in customs duty due to Brexit
Irish consumers could pay as much as €170m in additional customs duty this year as a consequence of Brexit, an analysis suggests. Figures to the end of November show that €465m in customs receipts were recorded by the exchequer. Based on the trend in recent months and the increased consumer spending in the run into […]
NPHET in new recommendations amid Omicron concern
The Cabinet is expected to meet today to consider the latest advice from the National Public Health Emergency Team (NPHET) in response to the rise of the Omicron variant of coronavirus. NPHET has expressed “exceptional concern” about the impact of Covid-19 and the new variant in its latest advice to Government. The National Public Health […]
Annual property prices jump by 13.5% in October – CSO
Property prices in October rose by 13.5% on an annual basis to mark the fastest annual pace of growth in over six years, according to the latest figures from the Central Statistics Office. This is an increase on the 12.5% rate recorded in September. Today’s figures show that prices in Dublin rose by 12.3% while […]
ESRI predicts economy will grow by 14% this year
Growth in the economy this year will be “robust” and “unprecedented”, according to the Economic and Social Research Institute. In its latest quarterly economic commentary, the ESRI predicts the economy will grow by almost 14% this year and 7% next year. Inflation, however, is expected to be higher peaking at 6% early next year. The […]
ECB set to dial back stimulus one more notch
The European Central Bank is all but certain to dial back its stimulus one more notch today while pledging to keep supporting the financial system next year, sticking to its long-held view that alarmingly high inflation will abate on its own. With the euro zone’s economy now back to its pre-pandemic size, pressure is mounting […]
Risks remain for credit unions despite improvements – Central Bank
A new report on the credit union sector by the Central Bank reveals another challenging year as credit unions continued to navigate through the impacts of Covid-19 as well as other business challenges. The Central Bank’s eighth Financial Conditions of Credit Unions Report said credit unions participated in the recovery in credit demand as Covid […]
Govt announces supports for firms hit by flooding
The Government has opened the Humanitarian Support Scheme to small businesses, sports clubs and voluntary organisations that have been affected by flooding as a result of Storm Barra, and are unable to secure flood insurance. The scheme will also provide funding to a small number of business impacted by flooding in Fermoy in County Cork […]
Is it time to rethink employment services for the long-term unemployed?
Opinion: the experience of those using public employment services such as JobPath shows they’re not fit for purpose At the last count, just over 225,000 people were on the Live Register or receiving the Pandemic Unemployment Payment. This figure will no doubt increase in the coming weeks, as the latest wave of restrictions take hold. […]
Private sector staff should seek pay rises up to 4.5%, ICTU and Nevin Economic Research Institute recommends
Private sector employees should seek pay increases of between 2.5% and 4.5% during 2022, guidance issued by the Private Sector Committee of ICTU and the Nevin Economic and Research Institute has recommended. The bodies say such claims are justified on the basis of the strong and rapid economic growth expected next year, with personal consumption […]
Cabinet expected to sign-off on €100 electricity credit plan
Ministers are expected today to sign-off on a plan to assist households struggling with the rising cost of electricity bills. It is believed that a once-off €100 credit will be recommended by the Green Party leader and Minister for the Environment Eamon Ryan at a Cabinet meeting this morning. It is anticipated the measure will […]
56% of workers will only apply for flexible or remote working jobs – Indeed
A new survey shows that 56% of Irish working-age adults say they will in future only consider jobs that offer flexible working, or allow them to quit the office forever. The latest monthly Job Search Survey from Indeed also shows that 18% of respondents said in future they would only apply for jobs allowing remote […]
The Christmas bonus – the costs and considerations for employers
Christmas parties have been cancelled but employers who can afford to are still marking the festive season by giving employees a Christmas bonus. The practice of paying bonuses as a reward to staff for their contribution to the success of the business during the previous year, is a tradition that is very much welcomed by […]
Construction sector continues to see strong growth despite challenges
Construction firms continued to experience strong growth in November, the latest Ulster Bank Construction Purchasing Managers Index survey shows. The Ulster Bank Construction PMI posted a reading of 56.3 in November, down marginally from 56.9 in October but still showing a sharp monthly increase in total activity. November also marked the seventh month of growth […]