Sun still shining on Irish economy, but Brexit storm clouds are gathering on horizon

The latest health check on the Irish economy has delivered a cautious thumbs up, despite sterling taking a fresh tumble amid heightening fears of a no-deal Brexit happening in October.

More

Trump’s China trade war risks hurting global economy, warns think tank

The OECD cautioned that as much as 0.7% could be knocked off global growth by 2021-22 if the row escalates.

MORE

Commercial semi-state firms pay out €2.4bn in dividends since 2010

The biggest contributor last year was the operator of Irish Water and Bord Gáis, Ervia, which paid out a dividend of €139m.

MORE

Local Enterprise Offices help create over 18,000 jobs in five years

Local Enterprise Offices have supported the creation of 18,640 jobs in their first five years.

MORE

Consumer spending up 2.7% in March

Household Goods posted the strongest expansion in March, seeing spending rise at a substantial pace of +16.6% year-on-year.

MORE

Irish middle class ‘escaped the worst’ of global downturn

The middle class here may have largely escaped the worst of the “bleak” pressures on incomes and rising debt facing their counterparts in many parts of the world, according to a major survey by the Organisation for Economic Co-operation and Development (OECD).

MORE

Aviation sector still has room to spread its wings

Aviation has an often overlooked importance for the Irish economy.

MORE

Tablet device for older people launched in Ireland; 75 jobs expected to be created

A tablet device aimed specifically at older people called GrandPad has just been launched in Ireland.

MORE

There may be tough times ahead for world economy

Many years ago my 10-year old nieces and nephews employed a code comprised of three words to describe something none of us cared for.

MORE

Growth treble eurozone average - Celebrate but with caution

It is an indication of how terribly destructive the last recession was that when economic indicators — what might be called the “Boomier and Boomier Index” — performs well it provokes as much apprehension as it does celebration.

MORE

Consumers’ interests are almost secondary

The ongoing tracker mortgages scandal — at least 38,400 borrowers misled — is one example of the banks’ attitude to consumer rights and services.

MORE

Brexit jitters return to hit sterling

Sterling fell against a resurgent dollar and London’s Ftse 100 was weighed down as jitters about Britain crashing out of the EU with no deal returned to trouble investors.

MORE

Consumer confidence drop 'worrying', says economist

KBC's latest index shows consumer sentiment was at 86.5 in February - down from 98.8 in January.

MORE

'Chronic lack of investment' outside Dublin 'placing our economy' at risk

A "chronic" lack of investment in infrastructure outside Dublin is putting the economy at risk and stalling future projects.

MORE

Ibec's McCoy calls for 'new SSIA-type scheme' to promote savings

The idea of promoting savings to cool the economy during times of rapid economic expansion has been revisited by Danny McCoy, the head of business group Ibec.

MORE

Storm clouds on horizon for US economy

Most of the major world economies may have lost considerable momentum over the past year, but the US economy has continued to power ahead.

MORE

Ireland's economy ranked 14th in the world for innovation - Bloomberg

Ireland's economy has been ranked as 14th in the world when it comes to innovation, according to the 2019 Bloomberg Innovation Index.

MORE

Construction skills shortage is the new elephant in the room

If this country does not get a grip on runaway capital costs, we can wave goodbye to any notion of a truly sustained economic recovery, writes Kyran Fitzgerald.

MORE

Readers' Blog: Only rich benefit from upswing in two-tier society

The ‘land of milk and honey’ is a nice sentiment, if you’re a beneficiary of society’s largesse, but most of us are not, even if the country is supposedly thriving again.

MORE

Cairn Homes shares leap 4% as builder pledges higher returns for shareholders

Cairn, along with rival stock market-listed Glenveagh Properties, has been out of favour for some time despite it delivering into a market which cannot meet the demand for new homes.

MORE

Penneys sees Christmas sales growth

In the three months to the first week of January, Primark grew sales by 4% on a year-on-year basis.

MORE

Youth unemployment 'unacceptably high' even as jobless rate falls

As the economy approaches full employment, the rate of jobless youth remains stubbornly high, new figures from the Central Statistics Office show.

MORE

Dept of Finance: Economy at risk of overheating

The economy is currently operating below its potential, but will start growing from next year and could overheat, says the Department of Finance.

MORE

Report finds warning signs today similar to those ignored before economic crisis

Ireland's competitiveness is facing significant losses as the economy heats up and the cost of living continues to rise.

MORE

National Competitiveness Council warns growth masks 'serious threats'

The economy’s impressive headline growth figures are masking “serious threats” to the country’s competitiveness, it has been warned.

MORE

Focus on Irish bankers’ pay as Dutch get tough

The Dutch aren’t done with regulating banker pay in a country that already has one of the strictest remuneration laws in the EU. In a letter to parliament, Finance Minister Wopke Hoekstra proposed making bankers hold on to shares and similar financial instruments in their fixed salary for five years. They would also be compelled to explain how their pay relates to their role in society.

MORE

Drugs pricing accord behind revenue fall: Roche

The main Irish arm of Swiss drugs giant Roche has blamed a new pricing agreement with the Government for “a significant decline in revenues” in 2017.

MORE

SMEs remain ‘a drag’ on business lending growth

Small companies remain “a drag” on business lending growth, it has been claimed, as increased repayments cancel out rising rates of new lending.

MORE

No rush for ECB to hike rates

Last week’s December meeting of the ECB governing council concluded in line with expectations, with no changes to interest rates from their present levels of 0% for the refinance rate and –0.4% for the deposit rate.

MORE

Four-day working week would lead to a stronger economy, Fórsa says

The days of doing 9 to 5 could be numbered if Ireland’s largest public service union gets its way.

MORE

Glenisk yoghurt profits fall on costs

Increased investment costs weighed last year on the profits of Glenisk, the country’s largest Irish-owned yoghurt maker.

MORE

Jacob Rees-Mogg firm’s bet on Greek bank turns sour

As Brexiteer Jacob Rees-Mogg struggles to garner enough support to oust UK prime minister Theresa May, one of his investment firm’s wagers is also looking questionable. Somerset Capital Management, which the MP founded, massively increased its long position in Alpha Bank this year.

MORE

B&Q owner sees sales fall

Shares in B&Q owner Kingfisher fell up to 5.8% yesterday, taking losses for the year to more than 30%, after it reported weak quarterly sales and said it would be pulling out of a number of European markets.

MORE

Increasing property prices could 'lay foundation' for another boom and bust cycle, OECD warns

Economic activity is forecasted to "remain robust, but to ease gradually" next year.

MORE

Pfizer patent blow after UK ruling on €4.4bn pain drug

Pfizer has lost the final round in a long-running patent battle in the UK after the country’s highest court ruled against it in a case involving its €4.4bn-a-year pain drug Lyrica.

MORE

Dell EMC chief: No fear over Irish projects

US investment into Ireland remains buoyant and there is little to threaten the business ties between the two countries in the future, one of Dell EMC’s most senior executives has said.

MORE

Irish Spar owner ‘positively cautious’

The South African Spar retailing group says it is positively cautious about the effects of Brexit for its retailing interests in Ireland and the southwest of England. The Johannesburg-stockmarket-listed group owns 80% of BWG Spar and operates chains in Ireland and England, under its Spar Ireland division.

MORE

Call to reform work permits to end low-pay ‘indentured servitude’

The work permits system is in need of reform as it creates “indentured servitude” by tying some non-EU workers to their employees.

MORE

Woodie’s DIY owner defies consumer slowdown

Shares in builders merchanting and DIY group Grafton surged nearly 8% on the back of latest revenue figures showing the group is defying the drop in consumer confidence in its core market of the UK.

MORE

Poland’s booming economy means workers stay at home

Surging pay, Brexit and record-low unemployment in Poland have transformed what was once one of Europe’s most mobile workforces.

MORE

Global markets can’t adequately supply prosperous societies

Two forthcoming books argue that we should revisit our economistic worldview and put the health of our local communities ahead of our consumer and market-centric model, writes Dani Rodrik.

MORE

People in precarious employment putting their health at risk

Many people in precarious employment are putting their health at risk by not taking sick leave, while more are suffering with their mental health.

MORE

John Whelan: Africa could hold key to Irish export survival

The two themes of the Africa Ireland Economic Forum — agri-business and women in business — resonated with the wide range of African and Irish businesses which gathered in the Convention Centre in Dublin last week.

MORE