Business News

Calls for enhanced support for businesses

25th May 2020

Stockbroker Goodbody is calling for the introduction of a state backed loan scheme to help struggling businesses cope with the aftermath of the shutdown of the economy to contain the spread of Covid-19. In its latest economic health check, the group’s chief economist Dermot O’Leary said the level of government support for business here had been much lower […]

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76% of consumers using contactless payments every week – BPFI

25th May 2020

Three quarters of consumers say they now use contactless payments at least once a week, according to a survey for the Banking and Payments Federation Ireland. The survey of 1,000 adults was conducted at the end of April by Coyne Research.  It coincided with the extension of the limit on contactless payments from €30 to […]

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VAT returns may fall by up to €6.7bn due to coronavirus – ESRI

25th May 2020

VAT receipts could fall this year by between €3.9 billion and €6.7 billion, according to research carried out by the Economic and Social Research Institute.  The ESRI has forecast that spending by households could fall by between 12% and 20% as a result of the restrictions imposed to tackle the spread of Covid-19. The ESRI says the […]

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NTMA sells €750m of Irish Treasury Bills at negative interest rate

22nd May 2020

The National Treasury Management Agency today held an auction of Irish Treasury Bills and sold the target amount of €750m.     The NTMA said that total bids received amounted to €3.71 billion which was nearly five times the amount on offer.  The Treasury Bills, which have a maturity of five months, were sold at […]

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76% of consumers using contactless payments every week – BPFI

22nd May 2020

Three quarters of consumers say they now use contactless payments at least once a week, according to a survey for the Banking and Payments Federation Ireland. The survey of 1,000 adults was conducted at the end of April by Coyne Research.  It coincided with the extension of the limit on contactless payments from €30 to […]

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Covid-19 hits labour force towards end of first quarter – CSO

22nd May 2020

The Central Statistics Office’s latest Labour Force Survey shows that a total of 2,353,500 people were employed in the first quarter of 2020. This gives an associated employment rate of 69.8% for those aged between 15 and 64 years, the CSO added. But when the effects of the coronavirus are taken into account, the Covid-19 Adjusted […]

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Consumer economy collapses in April due to Covid-19

21st May 2020

Disposable income was down by as much as 25% in April, despite the implementation of wage supports and enhanced welfare arrangements for workers impacted by Covid-19. This is according to the latest Consumer Market Monitor from the Marketing Institute and the UCD Smurfit Graduate Business School. Consumer sentiment dipped to its lowest level since 2012 […]

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EU Commission recommends Ireland broaden its tax bases

21st May 2020

The European Commission is recommending that Ireland takes all necessary measures to effectively address the Covid-19 pandemic, sustain the economy and support the recovery that follows. It also says the tax base here should be broadened over this year and next. “The challenges facing Ireland in regard to poverty and employment quality and support, including […]

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Ireland could run €30bn deficit this year, Donohoe tells Dáil

21st May 2020

Minister for Finance Paschal Donohoe has said that there is a possibility that Ireland will run a deficit of €30 billion this year. “We expect public debt to increase significantly this year,” the Minister said. Speaking in the Dáil, Paschal Donohoe said the deficit can be financed at low interest rates at the moment but he said sentiment […]

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Labour Court to begin virtual case hearings from 2 June

20th May 2020

The Labour Court is to convene virtual case hearings for the first time from 2 June in order to comply with public health guidelines on the coronavirus. The majority of currently scheduled hearings involve industrial relations matters and will be heard in private. However, in a statement, the Labour Court says it is satisfied that […]

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