Posts by splash

Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the coming months, data showed today.  Prices in the euro zone rose by 0.2% on the month in January and 0.9% compared to a year earlier, in line…

Dublin remains the most popular destination for UK financial services firms looking to relocate staff or operations as a result of Brexit, according to EY. The accounting and consulting firm has been compiling a tracker of movement of services and staff at 222 financial services firms in the UK since the Brexit referendum in 2016.…

Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the Republic of Ireland and Northern Ireland.  The bank said the branches that are closing are predominately self-service locations that do not offer a counter service.  The branches…

Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in a new survey. Ireland’s minimum wage was raised to €10.20 an hour from January this year for people aged 20 and over. The rate here is recommended…

The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers are hit with negative interest rates. There are growing concerns that personal customers could be hit with negative interest rates later this year. The upcoming withdrawal of…

Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by shops negotiating new lettings in certain locations, according to agents CBRE in its latest bimonthly market report. “This is creating opportunities for those retailers that are in…

Senior EU figures are contemplating a major reset in relations with the UK that would coincide with the formal ratification of the free trade agreement at the end of April, RTÉ News has learned. The idea would be for both sides to work towards a package of solutions around the outstanding issues of the Northern…

The number of mortgages approved in January fell by 16% compared to the previous month, according to figures published by the Banking & Payments Federation Ireland. A total of 3,355 mortgages were approved last month, a decline on the December figure, but a 2.8% increase on the same period last year. Breakdown of approvals Approvals…

Today’s Labour Force Survey figures confirm that the crisis in youth unemployment is worsening.   The number of people aged 15-24 in employment fell from 264,000 at the end of the fourth quarter of 2019, to 226,600 at the end of 2020 – a decrease of over 14%. CSO statistician Jim Dalton said this was…

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in line with other jurisdictions. The council also said that steps must be taken to ensure consistency in award levels and reduce settlement costs, if prices are to…