Dell beats estimates for quarterly results on strong enterprise demand
Dell Technologies has beaten Wall Street estimates for quarterly profit and revenue, as enterprises invested heavily in the company’s desktops and laptops to support hybrid work. Dell’s shares rose about 7% in extended trading as the PC maker forecast current-quarter revenue and profit above analysts’ expectations. The company has seen strong demand for its products […]
Asda sales fall 9.2% in first quarter
British supermarket group Asda has reported a near double-digit fall in first quarter sales, which it said reflected comparison with exceptionally strong trading in the same quarter last year when the UK was in a Covid-19 lockdown. Asda said first quarter to March 31 like-for-like sales, excluding fuel, fell 9.2% year-on-year, having fallen 2.9% in […]
Holidays a priority despite rising cost of living – KBC sentiment index
Irish consumers plan to spend more on holidays this year despite concerns about the rising cost of living, according to the latest KBC Bank Ireland consumer sentiment index. The survey for May asked a special question on holiday spending plans, and the answer hinted at a resilience in people’s personal finances. Austin Hughes, Chief Economist […]
E-commerce platform eDesk to create 150 jobs
E-commerce platform eDesk is to create 150 jobs over the next 18 months. The new positions will be at the company’s Dublin HQ, Derry, Skibbereen, and the east coast of the US, where 20 of the new roles will be based. It will bring the total headcount to 250 and eDesk says the growth will […]
Supermetrics to create 100 jobs and open new Dublin office
Marketing data software company, Supermetrics, is to create 100 new jobs in Dublin. The roles will be filled over the next two years. The Helsinki based firm is also opening a new office in the capital. Supermetrics said the expansion of its Dublin operations showed its commitment to the region and also strengthens its international […]
Car hire costs undermine Irish good value reputation, says Fáilte Ireland
An organisation which supports and promotes tourism in Ireland has said rising car rental prices are undermining Ireland’s reputation as a good value for money destination. Fáilte Ireland added that those who cannot secure a car booking may decide not to come to Ireland. It said this represents a major loss for the wider tourism […]
307 PayPal jobs under threat in Dublin and Dundalk
307 jobs are under threat at online payment firm PayPal’s offices in Dublin and Dundalk in Co Louth. The company is opening a consultation with impacted staff who have been notified about the situation. The roles that are being targeted for compulsory redundancy are across a range of functions. 135 of the positions are based […]
FSU says staff ‘at breaking point’ over exits of Ulster Bank, KBC
The Financial Services Union, which represents bank workers, has said its members are at breaking point dealing with the increased workload caused by the exits of Ulster Bank and KBC. The union has commissioned a survey of its members, which shows that 88% of respondents feel stressed at work either on a regular or very […]
CCPC clears Bank of Ireland-KBC deal but imposes conditions
The Competition and Consumer Protection Commission has cleared, subject to a number of legally binding conditions, the proposed €5 billion acquisition by Bank of Ireland of KBC Bank Ireland’s performing loans and deposits. The clearance of the proposed deal would see Bank of Ireland buy KBC’s performing loan assets, including performing mortgages, and commercial and […]
Leitrim-based Cora Systems to create 300 jobs
Irish software company, Cora Systems, is to create more than 300 jobs, half of which will be in Ireland. The positions will be in a range of specialties including research and development, global sales and marketing, and professional services. 150 of the roles will be based in the firm’s Carrick-On-Shannon headquarters, or nearby under a […]
Greencore reports return to profits, higher H1 revenues
Convenience food group Greencore has reported a return to profitability and higher revenues for the first half of its fiscal year. Greencore said its profit before taxation increased from a loss of £1.8m the same time last year to a profit of £1m this year, on the back of higher group operating profit and lower […]
Start-up activity drops 12% amid rising costs
5,600 new companies were registered in Ireland in the first three months of the year, down 12% on the same time last year. New data from CRIF Vision-net suggests that some people are holding off on launching new businesses due to rising costs, and supply chain problems. “What we are seeing is a bit of […]
Irish firms suffering with renewed supply chain problems
Irish businesses are once again having to restructure their supply chains, amid renewed disruption caused by the resurgence of Covid-19 in China, the Ukraine war and soaring fuel costs. Economists have warned that if continued, the global difficulties will contribute to lower economic growth and higher inflation. Central to the problems are the ongoing heavy […]
Wholesale prices rise by 5.2% in April – CSO
Wholesale prices for goods used in manufacturing and construction rose at an annual rate of 5.2% in April, according to the Central Statistics Office. This was up from an annual rate of 4.4% in March. The price index for products destined for the domestic market rose by 7.1% on an annual basis while goods destined […]
SME optimism drops amid Ukraine war and inflation
Irish SMEs are feeling less optimistic about the future, according to a new report by peer-to-peer lender Linked Finance. Its latest SME Confidence Index for the first quarter of this year, shows that companies are more wary about current business conditions amid the war in Ukraine and rising inflation. The index, which is based on […]
Taoiseach in Belfast to meet political and business leaders
The Taoiseach is in Belfast today to meet politicians and business leaders as efforts continue to break the Stormont impasse over the Northern Ireland Protocol. Micheál Martin will meet party leaders for talks and will host a delegation from the business community. The DUP is refusing to restore power-sharing until its concerns about the protocol […]
Hauliers given more time to apply for fuel cost support
Hauliers are to be given more time to apply for an emergency support scheme put in place by the Government to assist them with the soaring cost of fuel. Those who have not yet applied for the assistance will now have until 6 June to lodge their completed applications. Under the Licensed Haulage Emergency Support […]
Aer Lingus owner IAG orders 50 new Boeing planes
Aer Lingus and British Airways owner IAG is to order 50 Boeing 737 MAX jets for delivery between 2023 and 2027, in a vote of confidence in the struggling US planemaker. The order for 25 737-8-200 and 25 737 MAX 10 jets to be used for short-haul operations at IAG-owned airlines is worth $6.25 billion […]