Business News

Rise in interest rates could now be ‘beneficial’, says Fiscal Council chief

18th January 2018

The European Central Bank’s tapering of its quantitative easing programme will not have a huge impact on the Irish economy, Fiscal Advisory Council chief Seamus Coffey has said. Despite the concerns of the Department of Finance and the Economic and Social Research Institute (ESRI), Mr Coffey said a rise in interest rates could actually be […]

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Higher mortgage rates on the way but ‘increases will be gradual’

18th January 2018

Borrowers have been warned that European interest rates are set to rise, but the increases will be gradual and it will be 2021 before they hit 1pc. This is good news for those on trackers, and people borrowing to buy homes now. European Central Bank rates are zero at the moment, but the ECB has […]

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Annual inflation 0.4pc higher due to charge increases

18th January 2018

PRICES rose last month due to electricity suppliers and restaurants increasing their charges. Average prices were 0.4pc higher in December compared with the same month in the previous year. This was despite a slight fall in prices in the month of December, according to the Central Statistics Office. The annual rate of inflation rose due […]

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Wages to leap 15pc – but only if you’re in right type of job

17th January 2018

The most highly sought professionals will pick up pay rises worth 15pc as the number of people at work pushes close to its pre-recession peak. Research reveals employees’ prospects are finally back on track with jobs and pay on the up following years of instability. There are now approximately 2.2 million people at work, close […]

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Google to tighten net traffic grip with Irish subsea cable

17th January 2018

Google is seeking to increase its control on internet traffic with plans for three new subsea cables, one of which will stop off in Ireland. The web giant has the world’s largest physical network, accounting for up to 25pc of worldwide internet traffic. According to Google vice-president Ben Treynor Sloss, it has spent $30bn (€24.5bn) […]

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Eight simple steps to saving a lot of money on your car insurance

17th January 2018

GOOD advice, they say, is best served, and observed, frequently. The surge in insurance premiums may have abated but that is no excuse for taking your eye off the ball and accepting what you’re quoted. There are still several ways to save a lot of money. Here are a few: The obvious Shop around like […]

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Debt leaves Ireland exposed – Moody’s

17th January 2018

Gross government debt was around €8bn higher at the end of September than the same month last year. The debt pile stood at €210.7bn. That compares with €202.4bn at the end of September 2016, according to the latest data from the Central Statistics Office (CSO) has said. The debt-to-GDP ratio, however, is continuing to fall […]

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Brexit border controls ‘won’t hit Dublin Port’

16th January 2018

The re-introduction of border controls with Britain due to Brexit will not adversely impact Dublin Port, its CEO has insisted. “Over the next two months, we will finalise our plans for the required reintroduction of border controls on trade with Britain and I am confident that the controls required will not significantly hinder the movement […]

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Euro hits a three-year high against the dollar amid optimism

16th January 2018

The euro has hit a three-year high against the dollar amid rising optimism about growth in the bloc. With data showing economic resurgence in the eurozone, such as the manufacturing purchasing managers’ index which is at a 20 year high, investors are growing more upbeat about the bloc’s prospects. The currency’s rise also coincided with […]

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‘Red flag’ warning after oil price surge

16th January 2018

Oil hovered near a three-year high of $70 a barrel yesterday on signs that production cuts by Opec and Russia are tightening supplies, but analysts warned of “red flags” due to surging US production. International benchmark Brent crude futures were trading 3 cents lower at $69.84 by mid-afternoon, having risen above $70 earlier in the […]

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