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Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said today. “We do not see the components or the direction that would lead me to believe that we’ve reached peak inflation and that it’s going to decline in…

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New Central Statistics Office figures show that the volume of retail sales rose by 0.7% in October but fell 2.6% on the same month last year. This marked the sixth month of annual decreases in a row. With inflation running at an almost 40-year high of 9.2%, the value of retail sales were 1.2% higher…

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New laws covering consumer rights around faulty goods and services, digital products and sale pricing take effect from today. The Consumer Rights Act introduces stronger rights of redress for faulty goods, including the straightforward option of cancelling a faulty purchase within 30 days for a full refund. Kevin O’Brien, member of the Competition and Consumer…

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An extension by the Government of the mandate of Local Enterprise Offices (LEOs) will mean that thousands more small businesses here will be eligible for export grants. Under the move the LEOs will be able to give assistance directly to companies that have over ten employees which are operating in manufacturing and international traded services.…

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Bank lending to euro zone companies held steady, maintaining the sector’s biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central Bank data showed today. Lending to businesses in the 19-country euro area expanded by 8.9% in October, unchanged on September when it rose to its highest rate…

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Irish households are expected to spend the same amount of money this Christmas as they did last, as the impact of the higher cost of living reins in spending. Retail Ireland estimates that each household will spend €978 more in December than they do in every other month. This adds up to around €5.39 billion…

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Originally an American construct, Black Friday was ideal for retailers and consumers in the United States to kick off the busy Christmas shopping period. In Ireland, where Christmas retail campaigns now begin just after Halloween, adopting Black Friday as an aid to sales seemed the obvious thing to do and it is now a fixture…

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The Governor of the Central Bank has said the European Central Bank will increase interest rates at its meeting next month but he had “an open mind” on what scale that should be. Gabriel Makhlouf was speaking at the publication of the Central Bank’s Financial Stability Report today. The Financial Stability Report is published twice…

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The Temporary Business Energy Support Scheme (TBESS), which will assist businesses with their energy costs during the winter months, will open for registrations tomorrow – Saturday 26 November. The €1.2 billion scheme, which will be administered by Revenue, received approval from the European Commission yesterday. Businesses will be able to use the online system to…

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Total tax revenue collected by the Exchequer in 2021 was €93.3 billion, according to the Central Statistics Office. This was €15.9 billion more or 21% higher than in 2020. Today’s figures are contained in a new CSO publication, which is different to the figures published monthly by the Department of Finance. It includes a wider…

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