Business News

European shares tumble as more coronavirus impacts revealed

1st April 2020

European shares fell this morning in their first trading session of the quarter, as dismal economic data from Asia underpinned the ongoing damage from the coronavirus pandemic and fanned fears of a deep global recession.  The pan-European STOXX 600 index was down 2.4% in opening trade. It ending with its worst quarter in 18 years yesterday […]

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Manufacturing posts sharpest ever monthly drop in March

1st April 2020

Factory activity here posted its sharpest ever monthly drop in March as the coronavirus pandemic disrupted supply chains and caused a collapse in demand, a survey showed today.  The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) fell to 45.1 from February’s 51.2, its worst reading since May 2009. The figure was also well below […]

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Commission approves Government’s €200m scheme to support firms during Covid-19

31st March 2020

The European Commission has given the green light to the Government’s €200m scheme to support firms through the Covid-19 outbreak.  The commission has found the plan to be in line with EU state aid rules under the temporary framework it has put in place to support the European economy through the crisis.  “With this €200m […]

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Banks issue warning about Covid-19 scam attempts

31st March 2020

The banking industry here has warned consumers to be on the lookout for an expected rise in online fraud and scam attempts that try to take advantage of the circumstances around the Covid-19 crisis. The Banking and Payments Federation Ireland (BPFI) FraudSMART campaign says people need to be extra vigilant, take their time to do […]

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€9m more to be paid out in Covid-19 wage subsidy scheme today

31st March 2020

Revenue has assured employers that they will not be deemed insolvent if they avail of the government’s Covid-19 wage subsidy scheme.  Concerns had emerged that an unpaid wages declaration would effectively be an admission that employers were trading while insolvent. The key criterion is an employer’s declaration that disruption brought about by the pandemic has […]

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Another 283,000 people apply for Covid-19 emergency income payment

30th March 2020

The Minister for Employment Affairs and Social Protection has said that by close of business on Friday, another 283,000 people had applied for the Covid-19 emergency income payment from the Department of Social Protection. Speaking on RTÉ’s Morning Ireland, Regina Doherty also said that some 16,000 plus companies had applied for the wage subsidy scheme.  […]

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Another 283,000 people apply for Covid-19 emergency income payment

30th March 2020

The Minister for Employment Affairs and Social Protection has said that by close of business on Friday, another 283,000 people had applied for the Covid-19 emergency income payment from the Department of Social Protection. Speaking on RTÉ’s Morning Ireland, Regina Doherty also said that some 16,000 plus companies had applied for the wage subsidy scheme.  […]

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ECB asks banks to halt dividends over Covid-19 crisis

30th March 2020

The European Central Bank has asked euro zone banks to freeze dividend payments “until at least October 2020” to preserve liquidity that can be used to help households and companies through the coronavirus crisis. The Frankfurt institution also asked banks not to buy back shares, another tool to reward shareholders, at a time when policymakers […]

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ECB asks banks to halt dividends over Covid-19 crisis

30th March 2020

The European Central Bank has asked euro zone banks to freeze dividend payments “until at least October 2020” to preserve liquidity that can be used to help households and companies through the coronavirus crisis. The Frankfurt institution also asked banks not to buy back shares, another tool to reward shareholders, at a time when policymakers […]

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Euro zone sentiment in record plunge as coronavirus strikes

30th March 2020

Euro zone sentiment suffered its steepest ever monthly decline in March as the coronavirus led to declining confidence among consumers and all sectors of the economy. In many cases the declines were evident even before crippling lockdowns were imposed.  Economic sentiment in the 19 countries sharing the euro fell to 94.5 points in March from […]

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