Business News

Surge in companies looking for clearance for UK trade post-Brexit

21st February 2019

There’s been a surge in the number of companies here applying to Revenue to get the necessary documentation for trading with UK firms following Brexit. Revenue said over three times more companies applied in the month of February than in January for Economic Operators Registration and Identification (EORI) numbers. The EORI is the minimum requirement […]

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Irish SMEs paying more for loans than EU counterparts

21st February 2019

Irish small and medium enterprises (SMEs) pay on average three percentage points more interest on loans than the European Union average on amounts up to €250,000. The introduction of Government-backed risk-sharing schemes, such as the Brexit Loan Scheme (where interest is capped at 4pc), are helping to address the difference, according to the Strategic Banking […]

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How much will you pay? – Charlie Weston’s comparison on current account bank fees

20th February 2019

BANKS are back to their old trick of increasing the charges for running a current account. Both Permanent TSB and Ulster Bank have angered customers by announcing changes that will mean more people will get caught paying fees. Remember, switching banks is actually a relatively easy process due to The Central Bank’s Switching Code. This […]

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An Post plans nationwide network of parcel lockers as online shopping soars

20th February 2019

An Post is advancing plans for a nationwide network of self-service parcel locker stations to enable customers more conveniently access online deliveries and make returns. It will put it in competition with existing providers, including Parcel Motel, the service that is part of Nightline. That group was acquired by UPS in 2017. An Post said […]

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50,500 more people at work as unemployment plummets

20th February 2019

There are 50,500 more people at work as unemployment plummeted by over 10pc in the last year. The numbers employed rose by just over 2pc or 50,500 people. This pushed the total number of people at work to 2.28 million. The numbers unemployed fell by 15,200 or 10.5pc to 128,800 last year, according to the […]

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45% of all properties bought with cash or savings

19th February 2019

A new consumer monitor shows that 45% of all the properties sold last year were bought with cash or savings. The latest quarterly Consumer Market Monitor, from the Marketing Institute of Ireland and UCD Michael Smurfit Graduate Business School, shows that 55,000 homes were purchased in 2018, an increase of 8% on 2017. The monitor […]

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On the money: Ireland’s minimum wage is now the second highest of all EU countries

15th February 2019

POLICY makers across developed economies have struggled to lift wages since the great crash – a big factor in the slow return of inflation. While it suits many employers, it’s seen as one reason overall growth remains dangerously sluggish. Spain’s decision to hike its minimum wage by 22pc, even though unemployment remains high, signals a […]

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Higher rents and utility bills push consumer prices up

15th February 2019

New figures from the Central Statistics Office show that consumer prices rose by 0.7% in January compared to the same time last year. The CSO said the gain came on the back of higher rents and mortgage interest repayments as well as increases in the price of electricity and gas and higher prices for food […]

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Property prices still rising – but easing rate of increase indicates slight cooling down

15th February 2019

Property prices are continuing to rise, but the rate of increase is down indicating a slight cooling down. New figures from the Central Statistics Office show prices were up by 6.5pc nationally in the year to December. This compares with an increase of 7.2pc in the year to November and an increase of 12.1pc in […]

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€647m paid out to 39,800 affected tracker mortgage customers

15th February 2019

Banks have paid out €647m in redress, compensation and costs to customers caught up in the tracker mortgage controversy, new figures from the Central Bank show. The number of borrowers identified as being affected by the issue had risen by 1,400 since the end of August to 39,800 by the end of December, the bank […]

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