Business News

Mortgage arrears fall again in third quarter – Central Bank

28th January 2020

New figures from the Central Bank show that the number of homeowners in arrears for more than three months fell to a nine-year-low of 5.9% in the third quarter from 6% at the end of June.  The Central Bank also said the decline in the number of home mortgages in arrears for two or more […]

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Six euro zone banks fall short of ECB capital demands

28th January 2020

Six euro zone banks have fallen short of the European Central Bank’s capital demands and have been told to shore up their balance sheets or face tighter controls.  The ECB’s annual review of banks comes as many lenders are struggling to make money in an environment of ultra-low interest rates. They are also facing high […]

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Oil drops below $60 as China virus stokes demand concern

28th January 2020

Crude prices dropped below $60 for the first time in nearly three months today, as the death toll from China’s coronavirus rose and more businesses were forced to shut down, fuelling expectations of slowing oil demand. Brent crude was down $1.40 a barrel at $59.29 this afternoon to mark its lowest since late October and […]

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Temporary trade dispute appeal system agreed at Davos

27th January 2020

The European Union, China and 15 other countries agreed today to develop a temporary system for appealing trade dispute rulings after the recent US-provoked collapse of the WTO appeals body.  Ministers from the group published a joint statement announcing a “multi-party interim appeal arrangement”.  The arrangement was reached during a meeting at the World Economic […]

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Euro zone economy remains weak but green shoots emerging

27th January 2020

Euro zone business activity remained lacklustre at the start of the year, a survey showed today but there were some glimmers of hope for policymakers.  The survey comes a day after the European Central Bank said the manufacturing sector remained a drag on the euro zone economy.  ECB rate-setters did not make any policy change […]

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Costs and competitiveness a key focus for tourism industry

27th January 2020

The tourism industry needs to focus on costs and competitiveness as the sector faces into choppier waters in the years ahead, according to the head of the national tourism development authority, Fáilte Ireland. Paul Kelly said the industry had to avoid complacency against a backdrop of a softening in demand. “We absolutely need to keep our […]

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ECB launches review, keeps policy on hold

24th January 2020

The European Central Bank launched a broad review of its policy today that is likely to see new President Christine Lagarde redefine the ECB’s main goal and how to achieve it.  The European Central Bank has fallen short of its inflation target of just under 2% for years, even after Lagarde’s predecessor, Mario Draghi, launched […]

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France reaches deal with US on digital tax talks

24th January 2020

French Finance Minister Bruno Le Maire said France had reached an agreement with the US on the basis for future talks over a global digital tax, at the Organisation for Economic Development (OECD) level. “We had long talks this morning with the US Treasury Secretary and the OECD Secretary General,” Mr Le Marie said at the World Economic […]

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Costs and competitiveness a key focus for tourism industry

24th January 2020

The tourism industry needs to focus on costs and competitiveness as the sector faces into choppier waters in the years ahead. That’s according to the head of the national tourism development authority, Fáilte Ireland. Paul Kelly said the industry had to avoid complacency against a backdrop of a softening in demand. “We absolutely need to […]

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Irish tax system best in EU at reducing inequality – ESRI

23rd January 2020

Research by the Economic and Social Research Institute has found that the Irish tax system does more than any other system in the EU to redistribute income and reduce inequality. It also found that raising the point at which taxpayers pay the higher rate of tax, or abolishing the Universal Social Charge, would both favour those […]

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