BUSINESS - BREAKING NEWS

Property Industry Ireland said an average of 21,000 housing units per year must be built to meet the soaring demand for accommodation in Ireland.

TODAY'S BUSINESS - IRISH EXAMINER

Cork business optimism soars amid concerns

Businesses in Cork are as confident as they have been at any stage in the last six years, but are increasingly unsure of the impact of government policy on stabilising the economy.

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Brent crude oil in ‘brutal’ drop as China slows

August’s first full day of trading showed no let-up in July’s major themes — oil led commodities lower, currencies of resource-rich countries fell, Chinese stocks slid on economic concerns and European equities rose on earnings.

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Tasking Revenue to collect Irish Water bills a wrong move

The focus should first be on water service provision, and if Irish Water is to be seen as a
commercial entity, Revenue should not be collecting charges, writes Brian Keegan

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Russian banks turn away clients as recession bites

JSC Alfa Bank, the Russian private bank founded by billionaire Mikhail Fridman, is scaling back lending for all but the most affluent clients after a growing share of customers fell behind on payments this year.

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German car firms buy maps for self-drive

German carmakers BMW, Audi, and Mercedes will pay around €2.5bn to buy Nokia’s maps business, beating out high-tech rivals for location services seen as key to the future of self-driving cars.

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Trader jailed for Libor rigging

A “greedy” City trader has become the first man to be jailed for rigging Libor rates in a scandal that shook financial markets.

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Travel firm’s sales fall by 5% to €85m

Revenues at the Irish arm of specialist travel company, Trailfinders, last year decreased by 5% from £63.3m to £60m (€85m), new figures show.

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Rise in value of exports means growth is sustainable

Last week saw a series of encouraging GDP reports published in a number of economies. 

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OECD updates anti-tax evasion list

Europe’s attempts to clean up tax evasion and money laundering took a step forward yesterday when an international task group said that Austria — a eurozone nation that was until recently falling short —was almost fully compliant with new international standards.

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Brokers say law still gives banks debt veto

Legislation passed through the Dáil only weeks ago designed to strengthen the rights of mortgage and debt holders in dealing with banks, still gives lenders the power of veto over distressed borrowers, the country’s largest brokers’ group has claimed.

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