Recent market rally prompted by improved outlook
Europe’s main stock markets were little changed at the open today, failing to mirror strong overnight gains in Tokyo and on Wall Street. Stock markets have notched up some decent gains in recent weeks as the economic outlook appears to have improved dramatically on the back of China’s economic reopening after strict Covid-19 lockdowns and […]
370,000 tax returns processed for PAYE taxpayers so far
New data from Revenue shows more than 370,000 tax returns have been processed for PAYE taxpayers who have filed their returns for last year. This represents a 30% increase on the same period last year. Around three quarters of those, some 275,000, resulted in an overpayment of tax. This has led to €193m in total […]
Hairdressers call on Govt to cut VAT rate to 5%
Hairdressers have become the latest group to appeal to the Government to retain the 9% VAT rate, which is due to expire at the end of February. But the sector has gone a step further, by appealing for the rate to be cut further to 5% in order to preserve jobs. ”A failure to support […]
Under-insurance leaving thousands of householders exposed
Nobody needs reminding that we’re in the midst of a cost-of-living crunch. With the price of pretty much everything rising, we’re looking for ways to make savings wherever we can, from the weekly shop to the utilities and, perhaps especially, financial products. One area where householders might be tempted to cut corners is on their […]
Ireland to avoid recession in 2023 report predicts
Ireland will avoid recession this year, due to record household savings and the capacity for the Government to provide support with what a report describes as “the best budget position in the euro area”. Stockbroker Goodbody’s chief economist Dermot O’Leary forecasts that modified domestic demand, which is a measure of the economy that strips out […]
365 jobs secured under small firm rescue process – Baker Tilly
365 jobs have so far been secured as a result of 16 small businesses availing of the expedited restructuring process for viable small firms which need to be rescued financially, according to an analysis by the business advisory firm, Baker Tilly. The Small Company Administrative Rescue Process – known as SCARP – came into operation […]
Euro clears nine month peak as ECB hawks let fly
The euro scaled a nine-month high on the dollar today as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as far as $1.0903, breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936. It […]
Jobs market ‘cooling’ amid fall in vacancies
Job vacancies were down by 11% in the fourth quarter of 2022 compared to the previous year, according to a new study. The latest IrishJobs.ie Jobs Index also reveals a 13% fall in vacancies on a quarterly basis. The report describes the jobs market as “cooling” but finds that the volume of vacancies is still […]
Taoiseach meets big tech at Davos
The Taoiseach is attending the World Economic Forum in Davos where he is meeting political leaders and the chief executives of US multinationals. In the Swiss mountain resort, Leo Varadkar has met Intel CEO Pat Gelsinger and Meta’s Nick Clegg, companies with a strong presence in Ireland. The Taoiseach’s visit to Davos in the past […]
Wealthier households more likely to receive inheritances – Central Bank
Research published by the Central Bank today reveals that over one third of households in Ireland have received an inheritance. The accumulated value of these inheritances is estimated to be worth €97 billion. The findings are published in an Economic Letter from the Central Bank and are based on data from the CSO’s Household Finance […]
‘Whole range of measures’ as part of EV charging plan – Ryan
Minister for Transport Eamon Ryan has said “a whole range of measures” will be rolled out as part of the national strategy for electric vehicle charging infrastructure being launched today. Under the plan, €100m will be invested in a range of public charging infrastructure over the next three years. The target in the now legally […]
Euro zone inflation eases to 9.2% as expected
Euro zone consumer inflation decelerated as expected in December, the European Union’s statistics office Eurostat confirmed today, thanks to a continued fall in energy prices that had earlier lifted it to record highs. Eurostat said prices in the 20 countries sharing the euro fell 0.4% month-on-month for a 9.2% year-on-year rise. The annual reading is […]
Property price growth slows as Dublin prices fall
Residential property price inflation slowed further in November to a rate of 8.6%, down from 9.7% in October, according to the latest figures from the Central Statistics Office. Prices in Dublin rose by 7% on an annual basis, and fell marginally by 0.2% between October and November, while properties outside Dublin rose by 9.8%. This […]
Over half of professionals here considering moving jobs
Despite economic uncertainty and the global hiring slowing down, 59% of Irish professionals are considering changing jobs in 2023 according to new research from LinkedIn. The data also shows a hiring slowdown in Ireland, down by 12.7% compared to last year. Demand for higher wages remains the biggest motivator for those looking for new opportunities […]
Annual rate of inflation slows to 8.2% in December – CSO
The annual rate of inflation last month continued to moderate, according to the latest figures from the Central Statistics Office. The Consumer Price Index eased to 8.2% in December, down from 8.9% in November. The annual average rate for 2022 was 7.8%, the highest annual rate since 1984. Inflation fell slightly in December for the […]
Govt urged to introduce pension auto-enrolment ‘as quickly as possible’
The Pensions Authority is expected to tell the Oireachtas Committee on Social Protection today that the Government should introduce pension automatic enrolment as quickly as possible. In October, details of the new auto-enrolment scheme were approved ahead of its expected introduction in 2024. Workers aged between 23 and 60 will be automatically signed up to […]
3,500 net new jobs created by LEOs last year
Nearly 3,500 net new jobs were created by companies supported by Local Enterprise Offices (LEOs) around the country last year despite the economic challenges. In total 7,870 new roles were added over the 12 months before jobs lost were taken into account, a 10% increase on the previous year. The gains marked the ninth consecutive […]
Employers hope to attract workers to the north west with Dublin event
A number of agencies will come together to promote the north west with some of the region’s biggest employers at an event in Dublin next month. The goal of the event, which will take place on 9 February in the Westbury Hotel, is to get the message out to professionals based in Dublin and the […]