Trade unions to mark International Workers’ Day with Dublin event
Trade unions will mark May Day today which is celebrated as International Workers’ Day. A rally and march will be held this evening at the Garden of Remembrance in Dublin. Ireland’s first ‘Trade Union Week’ began on Monday and includes a series of events to promote union membership. As part of the campaign, the Government […]
Manufacturing activity deteriorates amid fall in new orders
Activity in the manufacturing sector deteriorated again in April, new data shows. The latest AIB Purchasing Managers Index shows that the fall last month was the sharpest rate of decline in nine months. The headline index dropped from 49.6 in March to 47.6. Readings above 50 indicate overall growth in activity. The drop in the […]
Euro zone grows more than expected in Q1 after recession
The euro zone economy grew by more than expected in the first quarter of 2024, buoyed by a return to growth for Germany and strong expansion in Spain, preliminary data from the European statistics agency Eurostat showed today. Gross domestic product increased by 0.3% quarter-on-quarter for a 0.5% year-on-year rise, compared with market expectations that […]
Bank of Ireland raises net interest income guidance on fewer rate cuts
Bank of Ireland has today lifted its net interest income guidance for 2024 to reflect its revised expectations that there will be one fewer round of central bank interest rate cuts this year. The country’s biggest lender said in a trading update that it expects 2024 net interest income to be 3% to 4% lower […]
Inflation rate slows to 1.6% in year to April – flash CSO reading
The latest “flash” estimate of inflation from the Central Statistics Office shows that the annual rate slowed to 1.6% in the year to April from a rate of 1.7% in the year to March. The CSO said this compares to a rate of 2.4% in the EU Harmonised Index of Consumer Price inflation (HICP) for […]
KBC Ireland to return banking licence to Central Bank
KBC Bank Ireland will return its banking licence to the Central Bank of Ireland next week, in its last act before exiting the Irish market. Three years after announcing its intention to leave Ireland, the bank confirmed that it had received approval from the European Central Bank to return the licence on Tuesday, April 30. […]
Ireland’s first Trade Union Week gets under way
Ireland’s first Trade Union week begins today. It will see thousands of workers across the island taking part in events and activities over the next seven days. The initiative is part of an Irish Congress of Trade Unions’ (ICTU) campaign to promote trade union membership. There will be activities in schools, colleges and universities, as […]
Claims related to uninsured drivers rose 11% last year – MIBI
The number of claims related to accidents caused by drivers who were either uninsured or untraced rose 11% last year. The Motor Insurers’ Bureau of Ireland said 1,927 claims were received during the year, up 187 on 2022. The largest number of claims came in Dublin where there were 822, followed by Cork which recorded […]
Third month of decline in consumer sentiment – Credit Union index
There was a marginal fall in consumer sentiment for a third month running in April, the latest consumer sentiment index from the Credit Union has found. It follows on from four months of gains in sentiment in the latter part of 2023 and into January of this year as inflation abated and talk of interest […]
New home completions down 12% in first quarter of 2024 – CSO
There was a 12.1% fall in the number of new home completions in the first quarter of this year, according to new data from the Central Statistics Office. The CSO reported a total of 5,841 new dwelling completions between the months of January, February and March of this year; down from 6,647 in the first […]
Ireland ranks second in Europe for remote work opportunities
Ireland has one of the highest shares of hybrid and remote job postings in Europe, according to the professional network LinkedIn. The analysis shows how working habits have changed in Ireland in the past four years, with the appetite from professionals for hybrid and remote work remaining high despite business leaders continuing to encourage workers […]
Diversity report shows more women in senior management roles
A survey of businesses that signed up to a pledge to improve diversity and inclusion in their workplaces has found higher levels of female participation at senior and executive levels compared to the national average. The ‘Elevate Report’ from Business in the Community Ireland (BITCI) found 40% female representation at senior and executive roles, higher […]
Over 53,000 businesses still using Revenue’s Tax Debt Warehousing scheme
The outstanding debt owned by businesses that availed of Revenue’s debt warehousing scheme stood at €1.58 billion this week, according to the tax commissioners in their annual report for 2023. The scheme was introduced to assist businesses that experienced cash-flow and trading difficulties during the Covid-19 pandemic. It was announced earlier this year that the […]
Banks need to do more for borrowers in early mortgage arrears – Central Bank
A Central Bank review of the supports that are in place for borrowers experiencing early mortgage arrears has found they need to be improved. The analysis looked at the effectiveness of the system those experiencing difficulty must navigate, focusing in particular on the supports, resources and service levels that exist to assist consumers in financial […]
Consumers want to make ‘green’ choices but cost dominates – survey
Consumers want to make sustainable choices but cost and other practicalities take priority, new research shows. The survey of 1,000 people from Banking and Payments Federation Ireland (BPFI) looks at the role sustainability plays for consumers making decisions on a number of products. When asked about the factors that influence their decision when buying a […]
Covid supports stabilised labour market but inequality persists – study
Employment and social welfare supports during the Covid pandemic helped to stabilise the labour market but inequalities persist, according to a new study from the Irish Human Rights and Equality Commission (IHREC) and the Economic and Social Research Institute (ESRI). The research explored the equality impact of the pandemic on the labour market, comparing the […]
European Parliament to vote on money laundering law
New laws to tackle money laundering, terrorist financing and sanctions evasion are due to be voted on by the European Parliament. The proposed legislation would place increased surveillance on professional football clubs and individuals worth more than €50 million, excluding their main home. A new anti-money laundering authority will also be established. The Government had […]
Wholesale electricity prices 40% lower in March on last year
New figures from the Central Statistics Office show that wholesale electricity were 40.3% lower in March of this year compared to the same time last year. The CSO said that wholesale electricity prices in March 2024 were also 76.6% lower than in August 2022 when prices were at their highest since the CSO began looking […]