Business News

Yields on €500m auction of short-term government debt expected to remain in negative territory

12th June 2017

Yields on this week’s €500m auction of short-term government debt are expected to remain in negative territory as investors continue to pay the state for the privilege of holding their money. The National Treasury Management Agency announced in a statement today that it has scheduled an auction of one-year dated Treasury Bills for Thursday morning. […]

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UPDATE: PAYE Modernisation

12th June 2017

What is PAYE Modernisation? From 1st January 2019, whenever Irish employers pay their employees, a file must be submitted (electronically) to Revenue containing details of these payments. The contents of this file are similar to the details currently submitted in the annual P35, however, unlike the annual P35, this file must be submitted each pay…

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The UK election result: Three things Irish businesses should monitor

9th June 2017

As the UK election bombshell unfolds this morning, business owners in Ireland already having to deal with the uncertainty around Brexit will be waking up to further reasons for concern. Below are three things that Irish businesses should monitor. 1. Falling sterling Falling sterling – for now the market is reacting very sensitively to developments. […]

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Sterling drops after UK election shock

9th June 2017

Sterling dived and the FTSE share index was set to fall 1pc on Friday after a shockingly bad election result for Prime Minister Theresa May plunged Britain into political chaos days before the start of Brexit talks. The surprise of a result that raises questions about how Britain will advance with its plan to leave […]

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ECB signals ultra-cheap debt era is almost over

9th June 2017

Mario Draghi has given the clearest indication yet that the era of record low borrowing costs is drawing to a close. The European Central Bank (ECB) ruled out further interest-rate cuts yesterday, in a sign that it’s moving towards the final chapter of a vast stimulus program that pumped cheap cash into the financial system […]

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Motor premium costs fall for second month

8th June 2017

The cost of motor insurance premiums fell for the second month in a row in May. New figures from the Central Statistics Office show that motor cover was 8.6pc cheaper last month than a year earlier. It comes after a fall of 2.6pc in the cost of insurance in April. Overall price changes were flat […]

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Irish economy on a normalised footing as demand for sovereign debt grows

8th June 2017

The rebound in demand for Irish sovereign debt shows little sign of dwindling following this morning’s €1bn auction by the National Treasury Management Agency. In a further indication that Ireland’s economy has regained a normalised footing after its crippling banking crisis, investors piled into the sale pushing yields below comparable issuances earlier this year. A […]

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Brexit means harmonised corporation tax closer

8th June 2017

Brexit will make it much more difficult for Ireland to fight plans by the European Commission to standardise the way corporation tax is calculated and paid across the EU, an academic has warned. Aidan Regan, an assistant professor at the School of Politics and International Relations at UCD, said the UK’s withdrawal from the European […]

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Moody’s upgrades the long-term bank deposit and debt ratings of Bank Of Ireland and AIB

7th June 2017

Credit ratings agency Moody’s has upgraded the long-term bank deposit and debt ratings of Bank Of Ireland and AIB. As part of the same action, Moody’s upgraded the baseline credit assessments (BCAs) of AIB and BOI. The news comes one week after the Government announced that it is to float a quarter of its share […]

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Greenfield investment into UK plunges 42pc after vote to quit EU

7th June 2017

The Brexit vote has dealt short-term damage to the UK’s offering as a foreign direct investment location, a report claims, with the country experiencing a 42pc fall in greenfield capital investment year-on-year. The number of projects dropped by 9pc, as did job creation, according to the data from the ‘Financial Times’ FDI Intelligence unit. The […]

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