Oil tumbles further as US-China trade tensions fuel recession fears
Oil prices slid more than 3% today, extending last week’s losses, as escalating trade tensions between the US and China stoked fears of a recession that would reduce demand for crude. Brent futures declined $1.41, or 2.15%, to $64.17 a barrel in early trade, while US West Texas Intermediate crude futures lost $1.35, or 2.18%, […]
World markets dive on trade war gloom
European markets plunged this morning as investors grappled with the possibility of a recession after sweeping tariffs announced by US last week. US President Donald Trump showed no sign of backing away from the tariff plans despite retaliation from China, pushing investors to price in interest rate cuts by the European Central Bank and the […]
EU response to Trump tariffs could amount to €400bn
The total European Union response to US President Donald Trump’s tariffs could amount to duties on US goods worth €400 billion, RTÉ News understands. This would represent retaliation for the US tariffs of 25% on steel and aluminium, last Wednesday’s “reciprocal” tariffs of 20% on most EU exports, and the 25% tariffs on European car […]
Trump tariffs provoke condemnation as recession fears grow
Countries around the world have threatened to wage a trade war with the United States as President Donald Trump’s sweeping tariffs fed expectations for a global downturn and sharp price hikes for swathes of goods in the world’s biggest consumer market. The penalties announced by Mr Trump on Wednesday triggered a plunge in world financial […]
Tax waivers, grants could bring vacant properties into use, says group
Vacant properties and above-the-shop units could provide an answer to the housing crisis, according to the Hardware Association of Ireland. It estimates that there are at least 20,000 vacant units of this type ready for transformation. The association is the representative body for Irish hardware and DIY retailers, builders’ merchants, distributers and manufacturers. It represents […]
Tax take to end of March up nearly 9% on same period last year
Tax receipts in the first three months of the year were up 8.9% on the same time last year. Figures from the Department of Finance show the tax take stood at €21.9 billion at the end of March. This is excluding a payment of €1.7bn which was part of a settlement made by Apple. The […]
Services sector posts robust growth in March, PMI shows
The country’s services sector expanded at its fastest pace this year in March, driven by a sharp increase in new business and employment, according to a survey released today. The AIB Ireland Services Business Activity Index rose to 55.3 in March from 53.2 in February, indicating strong growth, AIB reported. A reading above 50 signals […]
EU chief says new US tariffs are ‘major blow to world economy’
European Commission President Ursula von der Leyen has said that US President Trump’s universal tariffs are a major blow to the world economy, which she said will suffer massively. Mr Trump unveiled a 10% minimum tariff on most goods imported to the United States – with a higher 20% rate for the European Union – […]
Govt expects US measures on pharma sector, says Tánaiste
The Government’s “working assumption” is that there will be further US tariffs focused on pharmaceuticals, Tánaiste Simon Harris has said. The sector received an exemption from a sweeping 20% tax on EU goods announced by President Donald Trump yesterday. The US President made the announcement in a much-anticipated address from the White House in what he […]
Small rise in claims submitted to injuries board in 2024
The number of personal injuries claims submitted to the Injuries Resolution Board last year rose by 1% to 20,318 when compared with 2023 – but still remain well below pre-pandemic levels. According to the board’s personal injuries and awards report for 2024, the volume of claims is down by 35% on what was seen in […]
Unemployment edges up from record low to 4% in March – CSO
New figures from the Central Statistics Office show that the unemployment rate rose slightly to 4% in March from a record low of 3.9% a month earlier. The jobless rate in February had matched the previous record low recorded between October 2000 and April 2001 in the early days of the ‘Celtic Tiger’ boom. The […]
‘All options are on the table’ in US tariffs response – EU chief
European Commission President Ursula von der Leyen has warned “all options are on the table” in response to US President Donald Trump’s tariffs threats, saying while the EU does not want an economic conflict it has the “power to push back”. Speaking at the European Parliament’s plenary session in Strasbourg, France, in a debate where […]
Irish household’s net wealth reaches €1.2 trillion
The net wealth of Irish households has reached €1.2 trillion, of which €812 billion is property wealth The new Goodbody Guide to Inheritance and Estate Planning, published today, aims to help people manage the efficient transfer of wealth to the next generation. The report highlights how wealth is unevenly distributed across households with 49% of […]
Low earners took on debt to cope with cost of living – ESRI
Most low-income households had to make high-risk changes to their finances to cope with the cost of living crisis, according to the latest ESRI research. Typical changes included entering arrears, taking on more debt, or eating into savings. The research, conducted by the ESRI’s Behavioural Research Unit, said such decision are linked to damaging long-term […]
Price of gold rises to near record high as US tariffs loom
The price of gold has been rising on global markets to near record highs. This time last year, gold prices on international markets were trading at below $2,000 (€1,848) per troy ounce. Now they are above $3,000 and predicted to rise further. Gold is often seen as a safer investment when there are political and […]
Previous earnings to be linked to new jobseeker’s payment
A new jobseeker’s payment that is linked to a person’s previous earnings is due to begin. People who become unemployed, and who have at least five years’ paid PRSI contributions, will be entitled to receive 60% of their earnings, subject to a maximum of €450 a week for the first 13 weeks. After that, the […]
Driver number needed for new car insurance from today
The new legal requirement for motorists to provide their driver number when renewing or taking out motor insurance is in effect. It is now an offence for any insurance provider or broker to issue motor insurance to anyone if the driver numbers for all the named drivers on their policy are not provided. Drivers who […]
Minister to allocate €436m for social housing needs
Minister for Housing James Browne is to allocate €436m for social housing needs this year. This includes capital funding allocations of €325m to be used by local authorities for the second-hand social housing acquisitions programme. €111m has also been allocated for 82 new social housing projects which will provide over 1,300 newly built homes, delivered […]