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Business News

Sterling plummets after UK attorney general says legal risks of Brexit unchanged

13th March 2019

The pound sank in volatile trading today after Britain’s attorney general said the legal risks of a Brexit deal with the European Union had not changed. This cut the chances of the agreement getting through the British parliament. Geoffrey Cox said a revised Brexit deal, secured by Prime Minister Theresa May last night with the […]

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Sterling rises as traders position for Brexit showdown

12th March 2019

Sterling rose today in volatile trade as investors braced for parliamentary votes on Prime Minister Theresa May’s Brexit’s deal that could decide on what terms – if at all – Britain leaves the EU in less than three weeks. No breakthrough emerged from weekend talks between the British government and the EU. As a result, […]

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Extra capital needs behind high mortgage rates here

12th March 2019

Mortgage holders here pay more for their loans than other borrowers around Europe, partly because of the high level of loss-making trackers still in the banking system. That’s according to a report from the Department of Finance, which looked at the reasons for the disparity between mortgage rates here and elsewhere. “Trackers, which are still […]

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Grocery prices rise with further increases likely

12th March 2019

Grocery prices rose 1.5pc in the 12 weeks to February 24, and further increases are likely on foot of Brexit, according to market researchers Kantar Worldpanel. Extra customs paperwork plus any tariffs that emerge will make British goods more expensive for Irish importers, Kantar’s consumer insight director Douglas Faughnan said. It was the fourth period […]

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‘Memo to Safety Commissioner’

11th March 2019

What kind of Online Safety Commissioner will the Government actually appoint? A powerful watchdog? A lame duck? Something in between? Communications Minister Richard Bruton talks about an office with the power to fine Facebook, Twitter or YouTube, or even spark a criminal prosecution. But to be effective a new commissioner has to do a few […]

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BOI prepares sale of up to €800m in bad loans

11th March 2019

Bank of Ireland is planning to sell up to €800m worth of non-performing loans this year as it moves to bring its balance sheet in line with European norms. The bank had consistently ruled out any loan book sales – until CEO Francesca McDonagh switched her stance last July. At the time she said that […]

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Govt publishes strategy for future needs of business

11th March 2019

The Government is publishing details of a new approach to the future needs of businesses and workers. Called Future Jobs Ireland, the aim is to prepare people and companies for coming technological changes and the move to a low-carbon economy. The Department of Business, Enterprise and Innovation says the policy is needed to ensure there […]

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Workers priced out of housing market by cash-rich investors

8th March 2019

First-time buyers are facing stiff competition from housing associations, investment firms and State bodies when trying to buy homes, a new report says. Known as non-household buyers, they now make up 22pc of purchases for newly built homes, up from 7pc in 2010. The latest housing monitor from the Irish Banking and Payments Federation says […]

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Bolder than expected: ECB pushes out rate hike and showers banks with yet more cash

8th March 2019

The European Central Bank pushed out the timing of its first post-crisis rate hike until 2020 at the earliest and offered banks new rounds of multi-year loans in a bid to revive the currency bloc’s slowing economy, it said on Thursday. The bolder-than-expected move showed ECB was having to revisit plans to dial back its […]

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Bolder than expected: ECB pushes out rate hike and showers banks with yet more cash

8th March 2019

The European Central Bank pushed out the timing of its first post-crisis rate hike until 2020 at the earliest and offered banks new rounds of multi-year loans in a bid to revive the currency bloc’s slowing economy, it said on Thursday. The bolder-than-expected move showed ECB was having to revisit plans to dial back its […]

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