- NEWS
‘You people will never be safe’Britain was in a heightened state of alert last night following a suspected terrorist attack in which a young man was hacked to death in broad daylight on the streets of London.
Lifeboat crew rescue whale caught in ropes A lifeboat crew were called in to perform an unusual rescue off the south-east coast.
- WORLD
The ‘perfect’ celebrity would look like thisThis is how the ideal female celebrity would look, according to a survey carried out in Britain.
Horror and heroism as tornado wreaks havocThe search for survivors and the dead in the Oklahoma City suburb raked by a massive tornado was almost complete last night.
- BUSINESS
Kenny: Digital sector may need new tax plan EU efforts to tackle tax evasion by individuals and corporations have gained pace with Taoiseach Enda Kenny acknowledging that new digital industry may need a different kind of tax structure — something that applies to companies like Google and Facebook.
Apple crisis another test for Cook Tim Cook's tenure at the helm of Apple has been a crash course in crisis management.
- SPORT
Ó Sé: System is no help to players Tomás Ó Sé believes the structure of the Munster championship doesn't have the players' interests at heart.
Healy plays it cool as RDS finale looms large Cian Healy isn't one for cracking under questioning.
- LIFESTYLE
Autocenter for the peopleA new exhibition in Cork showcases artists from Berlin, says Tina Darb O'Sullivan
From one kingdom to anotherA Kerry bookshop and one man's dream brought hope to a Lesotho community, says Peter Geoghegan
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Breaking stories
ECB to cut rates to record low
Homeowners are expected to get some good news today with the ECB due to cut interest rates to a record low.
By Vincent Ryan
The 0.25% cut will put an extra €300 a year into the pockets of the average householder on a tracker mortgage. The latest reduction will take the lending rates to below 1% for the first time.
Davy economist Conall MacCoille said the effective lending rate for banks was about 0.3%, but those with tracker mortgages would be the real beneficiaries. Those with variable rate mortgages would have to see if their lending institution passed on the cut.
“The only immediate effect the rate cut will have is for tracker mortgage holders,” he said.
There are about 400,000 tracker mortgages in Ireland. These will benefit immediately from any cut in the ECB rate.
“There is no guarantee that banks will pass on the new rate to variable customers. It is up to the financial regulator to decide whether or not to force banks to pass on the rate,” said Mr MacCoille.
Meanwhile, Finance Minister Michael Noonan has expressed confidence that this year’s tax take will meet expectations after figures for the first six months of the year showed revenues €507m ahead of target. Tax take exceeded €17bn, 3.1% above expectations.