Former Central Bank boss says banks played ‘fast and loose’ during tracker mortgage scandal
The former governor of the Central Bank, Patrick Honohan, has said the organisation was probably too trusting of the banks when it was dealing with the tracker mortgage scandal. Mr Honohan was commenting on the long-running saga, which saw tens of thousands of homeowners wrongly moved to higher interest loans by the banks. These mortgage […]
Effects of tracker mortgage scandal ‘far from over’
New Central Bank figures show that in excess of 42,000 mortgage accounts have now been identified as having been impacted by the tracker mortgage scandal – but more than a decade on serious questions remain about accountability and transparency, writes John Downes, director of a new two part RTÉ documentary series TRACKERS: The People V […]
Berkshire cash sets record as profit rises, signaling caution ahead of Buffett exit
Berkshire Hathaway signaled over the weekend that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive. For a 12th quarter in a row, Buffett’s conglomerate sold more stocks than it bought for its $283.2 […]
Average motor insurance costs up 9% in 2024 to over €620
The average price of motor insurance rose 9% between 2023 and 2024 to reach €623, according to the Central Bank. It said that the average expected cost of claims per policy increased 3% to €397, the highest it has been since 2014. The rising costs have been criticised by the Alliance for Insurance Reform which […]
What does the sale of PTSB mean for consumers?
What will this mean for consumers? In the short term, it won’t mean any change. The bank says its mortgages, deposits, current accounts and banking app will operate as normal. But in the longer term, if PTSB is taken over by another bank, it could mean more competition if the new owner decides to challenge […]
AIB pays €390m to State in final transaction
AIB has paid €390 million to the Minister for Finance in what represents the final step in the State’s exit from the bank. The payment was for the cancellation of around 271 warrants in the bank. This gave the Minister the right to to buy AIB shares at a fixed price of €6.75, a 14% […]
Over 1.5m households yet to file local property tax valuation
Revenue has said it has written to over 1.5 million property owners to advise them they must file a local property tax valuation ahead of next week’s deadline. The head of Revenue’s local property tax branch, Katie Clair, said details for over 550,000 valuations have been submitted ahead of 7 November. Speaking on RTÉ’s Morning […]
State-controlled PTSB puts itself up for sale
Shares in PTSB have surged over 20% after the State-controlled bank announced it has put itself up for sale. The bank said its operations, products and services will not be affected by the move, and it will continue to support and service customers as normal. The board said it believes launching a so-called Formal Sales […]
ECB expected to hold rates for third meeting in a row
The European Central Bank is all but certain to leave interest rates unchanged for a third meeting in a row today, enjoying a rare period of low inflation and steady growth even in the face of turbulence caused by shifting trade relations. The ECB cut rates by a combined two percentage points in the year […]
Over 150,000 premises connected under National Broadband Plan
Over 150,000 premises across the country have now been connected to high-speed fibre broadband under the National Broadband Plan (NBP). It takes the number of homes, farms, and businesses that can order the high-speed internet connection to more than 420,000, which surpasses the 2025 end-of-year target. National Broadband Ireland (NBI), the company delivering the NBP, […]
150 job cuts at Amazon Ireland, 14,000 to go worldwide
Around 150 employees at Amazon in Ireland are set to be impacted as a result of job cuts at the company, RTÉ News understands. The tech giant today announced it will reduce its global corporate workforce by about 14,000 people, in a major shakeup driven in part by adoption of artificial intelligence that will result […]
Irish university loses almost €100,000 over scam email
An Irish technological university has been the victim of a €98,500 online scam concerning a fraudulent email that resulted in a legitimate payment to a supplier going to a rogue bank account. That is according to the 2024 annual report for the Technological University of the Shannon (TUS), which was formed in 2021 following the […]
Decline in confidence in Irish economy among ‘experience industry’ businesses – study
There has been a significant decline in confidence in the Irish economy among businesses operating in the ‘experience economy’, according to a new survey. The sentiment study, carried out by employers group Ibec, shows that 49% of businesses are now less confident about the economy, compared to 28% six months ago. Over 70 companies operating […]
Are people paying more for electricity than they should?
This week the Central Statistics Office published the latest figures on wholesale electricity prices. These are the prices suppliers pay to acquire the energy themselves, not what they charge consumers. The figures showed that wholesale electricity prices fell by more than 16% in the year to September. Furthermore, the CSO said between August and September […]
Number of passengers affected by data breach not yet clear
It has not yet clear how many passengers were affected by the data breach relating to boarding passes issued for flights during August, but RTÉ News understands it may be in the hundreds of thousands. In August 3.8 million passenger journeys were made on flights through Dublin Airport. It has not been revealed yet what […]
New home completions in third quarter up 4% on last year – CSO
The number of new homes built in July, August and September of this year was 9,235, a rise of 4% on the same period last year, according to the Central Statistics Office. Apartments were up 3%, homes in estates increased by 1% and one-off houses rose by 15%. Over a third of completions, or 36%, […]
Mortgage drawdowns hit almost €4 billion in third quarter – BPFI
The number of mortgages drawn down during the third quarter of the year increased by 7.7% compared to the same time in 2024, new figures from Banking and Payments Federation Ireland show today. The value of those mortgages also increased, rising by 16.6% year-on-year. In its latest report, Banking and Payments Federation Ireland said a […]
Bank of Ireland upgrades Irish economic forecast
Bank of Ireland has revised upwards its forecast for growth for the economy. It comes after a similar move by Goodbody Stockbrokers earlier this week. Bank of Ireand predicts the domestic economy will expand by 3.4% this year and 2.6% in 2026. It estimates Gross Domestic Product, which includes impact of multinationals, will be 10.7% […]