Business News

EU audit set to find Ireland in breach of broadband targets

6th July 2017

A NEW EU audit is set to find that Ireland is in breach of European broadband targets. The European Court of Auditors has picked Ireland as one of five countries measured to see whether agreed targets broadband rollout have been met. However, the Government’s latest delay on connecting 542,000 rural homes and businesses to broadband […]

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Clamp down on ‘letterbox’ entities by the EU could help boost Irish funds sector

6th July 2017

Investment firms may have to move thousands of jobs to the European Union after regulators said “letterbox entities” nominally based in the EU but in reality run from abroad will no longer be tolerated, lawyers and advisers say. The proposal would affect UCITS, a type of mutual fund domiciled in the European Union, that hold […]

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Number of people signing on drops to lowest level in 9 years – but concerns raised over youth unemployment

6th July 2017

The number of people signing on the live register has dropped to the lowest recorded since October 2008 – but concerns have been raised over the number of young people that are signed on long term. In June of this year, the number of people registered fell 1.8pc from the figure in May to 259,200, […]

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Motorists to be hit with cost of boosting insurance fund

5th July 2017

MOTORISTS will end up being hit after the Government approved changes to the law on insurance to boost the size of a compensation fund. The decision by the Cabinet comes after a ruling in May by Supreme Court on which fund should cover the cost of claims associated with collapsed Setanta Insurance. Malta-registered Setanta collapsed […]

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Retail Excellence Ireland calls for 3pc VAT reduction to protect retailers from Brexit impact

5th July 2017

Retail Excellence has called for a VAT reduction of 3pc in next year’s budget to protect Ireland’s retailers from Brexit excesses. The Budget 2018 submission from the largest representative body in Ireland calls for a general cut in the cost of doing business, increased funding to get retailers online and increased infrastructural investment. ‘Retail: Sustaining […]

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Living Wage increase of 20c to €11.70 driven by rising housing costs

5th July 2017

he Living Wage in Ireland has been increased to €11.70, a 20c increase for 2017. The updated amount has been driven by changes in the cost of living here and changes in the taxation system. According to the Living Wage technical group, who set the research-based figure, the current housing crisis and associated rent levels […]

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Shoppers offset deflation effects as grocery market increases by €80m

4th July 2017

The Irish grocery market grew at the fastest rate since January in the 12 weeks to June 18, as shoppers buying more offset the impact of deflation. SuperValu remains, just, in the top spot as the biggest grocery chain in terms of market share, according to the latest figures from Kantar Worldpanel. Tesco is challenging […]

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Majority of small firms do not expect to be impacted by Brexit

4th July 2017

More than one in two small and medium enterprises (SMEs) say that they expect no impact from Brexit, according to the AIB SME Financial Services Monitor. The positive outlook continues for SMEs that trade internationally, with more than three quarters – 76pc – of those surveyed more optimist for the future of their business in […]

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Irish industry defies British gloom with 23-month high

4th July 2017

Irish manufacturing experienced the strongest pace of growth in 23 months in June, defying the effects of a weaker pound and out of step with struggling British factories. UK manufacturing missed out on a demand-driven surge in activity elsewhere in Asia and Europe in June, as weakness in sterling failed to translate into export growth, […]

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Beware of paying cash up front for ‘fake cover’ and always check contact details

3rd July 2017

Before buying a policy through a broker or intermediary, always make sure that they are registered. Consumers can check the regulatory status of the firm or individual by using the Central Bank website in the Registers section. Beware of buying policies through non-traditional sources, including social media accounts or pop-up offices. Look out for the […]

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