AA Ireland survey reveals dip in petrol and diesel prices
AA Ireland’s latest monthly fuel price survey shows that the cost of both petrol and diesel eased in August. The price of unleaded petrol now averages €1.70 a litre, down from €1.73 in July, while the average diesel price stood at €1.68 per litre, down from €1.69 in July. AA Ireland also said that while […]
Erosion of Fed independence would lead to higher inflation, ECB’s Rehn says
Erosion of Fed independence would lead to higher inflation, ECB’s Rehn says US President Donald Trump’s escalating attacks on the Federal Reserve could have substantial and global knock-on effects on the financial markets and the real economy, including higher inflation, ECB policymaker Olli Rehn said today. Questions over the independence of the Fed, the world’s […]
American Bitcoin, backed by Trump’s sons, aims to start trading in September
American Bitcoin, the bitcoin miner backed by US President Donald Trump’s two sons, has locked in crypto and traditional investors to back an all-stock merger that will allow the firm to soon start trading on the Nasdaq, the company’s largest investor said. The unlisted firm’s merger with Gryphon Digital Mining is set to be finalised […]
TikTok owner ByteDance sets valuation at over $330 billion as revenue grows – sources
ByteDance, the owner of short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than $330 billion, driven by continued revenue growth, said three people with knowledge of the matter. The company plans to offer current employees $200.41 per share in the repurchase programme, […]
Tourism figures down by 1% in July compared to 2024, 2023
New figures from the Central Statistics Office show that 646,400 foreign visitors completed a trip to Ireland in July, a decrease of 1% when compared with the same month in both 2024 and 2023. The CSO said the average length of stay for the tourists was 7.9 nights, down from an average of 8.1 nights […]
Vhi to increase prices by average of 3% from 1 October
Vhi, the country’s largest health insurer, is to increase the prices of its policies by an average of 3% from October. It is estimated the increase will mean an individual will pay between €15 and €80 extra per year for their health insurance, while a family plan could go up by around €180. Consumers will […]
EU claims ‘sovereign right’ to regulate tech after Trump threat
The European Commission asserted the “sovereign right” to regulate the activities of tech giants within the bloc and rejected claims by President Donald Trump that its rules unfairly harm US firms. Brussels has adopted a powerful legal arsenal aimed at reining in tech giants, particularly through the Digital Markets Act (DMA) covering competition and Digital […]
Housing body urges ‘ramp up’ of cost rental properties
The Chief Operations Officer at Tuath Housing has said there is a need to “ramp up social and cost rental supply” to provide security for the next generation. Bronagh D’Arcy said decisions taken in this year’s budget will be “critical” as the Approved Housing Body released its annual report today. It emphasises that demand continues […]
Number of derelict properties nationwide down 2.9% – report
The number of derelict properties around the country has fallen, according to the latest GeoDirectory Residential Buildings Report. The analysis is based on a study of the stock of houses and apartments across Ireland. The report also showed the number of new addresses added to the database was up 33,000 in the 12 months to […]
Consumer sentiment improves slightly in August – survey
Consumer sentiment recovered in August from a near two-year low as concerns about the impact of tariffs on European Union exports to the US appeared to ease, a survey showed today. The Credit Union Consumer Sentiment Survey improved to 61.1 in August from 59.1 in July. The reading is below the 72.1 level posted in […]
Trump threatens tariffs on countries seen targeting US tech firms
US President Donald Trump has threatened further tariffs and export restrictions against countries that he says are targeting US tech firms. “Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology,” Mr Trump wrote on his Truth Social platform. His comments appear targeted at European countries […]
Grocery inflation still rising, hitting 5.86% in August
New figures from Worldpanel by Numerator show that grocery inflation continued to rise in August, increasing from 5.43% to 5.86% now. Today’s figures show that shoppers contributed an additional €68.2m to the grocery market’s overall performance in August, due to several festivals, sell-out concerts and the Galway Races. Take-home value sales rose 6.2% over the […]
Dutch online bank Bunq fined for sloppy money laundering control
Dutch online bank Bunq has received a €2.6m fine for failures in its money laundering controls, Dutch central bank DNB said today. Bunq said it disagreed with DNB’s decision, to which it has formally objected. DNB said Bunq was fined in May for “serious shortcomings” in four cases between January 2021 and May 2022, in […]
German economy shrank 0.3% in second quarter as US tariffs slowed exports
German economy shrank 0.3% in second quarter as US tariffs slowed exports Germany’s economy shrank by 0.3% in the second quarter compared with the first three months of the year, as demand from its top trading partner the US slowed following months of buying ahead in anticipation of US tariffs. The statistics office today revised […]
Number of people at work rises by 2.3% in second quarter – CSO
New figures from the Central Statistics Office show that the estimated number of people in employment in the second quarter of this year stood at 2,818,100, an increase of 2.3% compared with the same time a year ago. The CSO said the 2.3% rise in the number of people in employment was equivalent to 63,900 […]
What’s in Trump’s trade deal with Europe?
The US and the European Union agreed a joint statement on the framework trade deal struck at the end of July to end months of uncertainty for industries and consumers. Here are the main elements of the statement, produced after weeks of wrangling, spelling out what both sides have agreed to. EU to eliminate tariffs […]
Government warned of rising household bills as data centres strain grid
Senior officials have warned ministers that Ireland’s rapid growth in data centres is using up electricity capacity and adding to the risks around energy costs and climate targets. In a confidential memo issued in November last year, the Secretary General at the Department of Public Enterprise, NDP Delivery and Reform (DPER) said that soaring electricity […]
US tech stock stumble shows vulnerability in AI trade
US technology shares are showing signs of vulnerability after a massive run, which has some investors pointing to overdone AI-driven gains while funds have taken steps to position away from the high-flying sector. Investors are looking to de-risk portfolios or lock in profits during a seasonally difficult period for stocks. Tomorrow’s looming speech by US […]