Person: Jim Power

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Person: Jim Power

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>When Donald Trump took office in late January, the dollar was trading around $1.0250 against the euro. Today it is trading just under $1.18 — an appreciation of over 15% in the value of the euro. </p>

columnists

Jim Power: Weak dollar adds to challenges for the EU — including Ireland

A likely 10% tariff would compound the 15% currency appreciation to make EU exports to the US significantly less competitive

Jim Power: Life for next Government is going to be trickier

Jim Power: Inflation battle has been won, but rate cuts could accelerate house prices even further

Jim Power: Latest omens for tourism sector are concerning

Jim Power: Rate cuts may add further fuel to housing fire

Budget calculation

economy

Jim Power: The Irish economy may seem to be doing well, but not so for small firms

ECB rate cut in June would bring 'psychological boost' for Irish households and businesses

ECB rate cut in June would bring 'psychological boost' for Irish households and businesses

A start to rate cuts in June would bring relief for Irish consumers and businesses which over the past two years faced a whole range of increased costs

Thu, 11 Apr, 2024

Eoghan O'Mara Walsh: A national policy on tourism is overdue

Eoghan O'Mara Walsh: A national policy on tourism is overdue

Escalating costs of business allied to significant capacity concerns mean that the year ahead is likely to be a challenging one for Irish tourism

Sun, 07 Apr, 2024

Jim Power: We have a two-and-a-bit banking market that is harming customers

Jim Power: We have a two-and-a-bit banking market that is harming customers

The transfer of customers out of KBC and Ulster Bank expanded the balance sheets of the three existing banks without the trio having to try very hard. It wouldn’t exactly take a genius to generate profits in such an environment

Sun, 10 Mar, 2024

Real incomes squeezed as wage growth fails to keep up with rising prices

Real incomes squeezed as wage growth fails to keep up with rising prices

Average weekly earnings across the whole economy for private and public employers rose by just over 2% in the final three months of 2023

Tue, 27 Feb, 2024

European Central Bank President Christine Lagarde Rate Announcement

S Jim Power: Interest rate cuts this year seem inevitable despite cautious central bankers

The only question really is how long it will take the ECB to admit that it tightened too much since July 2022 and that the time has come to reverse course.

Sun, 04 Feb, 2024

Jim Power: Interest rate cuts are coming, but by how much and when are pressing issues

Jim Power: Interest rate cuts are coming, but by how much and when are pressing issues

A re-evaluation is underway of whether central banks, including the European Central Bank, will aggressively cut rates this year, writes Jim Power

Sun, 07 Jan, 2024

Jim Power: Potentially seismic political developments to influence global economics in 2024

Jim Power: Potentially seismic political developments to influence global economics in 2024

The central scenario seems to be that inflationary pressures will continue to gradually ease, but it is unlikely to be a smooth path as tight labour markets continue to pressurise services sector inflation

Wed, 27 Dec, 2023

GERMANY-EU-ECB-BANKING-INFLATION

Jim Power: Another rate hike is hard to justify amid environment of uncertainty

The ECB are set to meet on Thursday but another hike is unlikely as two wars put pressure on energy markets.

Mon, 23 Oct, 2023

Joe Biden,Jill Biden

Jim Power: Jobs don't necessarily boost the political popularity of governments

Joe Biden won't get much credit for the buoyant US economy. His Irish counterparts face a similar fate — especially amid the continuing crime and housing crises

Sun, 27 Aug, 2023

Travel Stock - Frankfurt

Jim Power: Unclear whose interests Irish banks serve

I have believed for a long time a State-owned bank that supports small firms and start-ups is essential

Sun, 30 Jul, 2023

New homes figures

Jim Power: Housing is in crisis, but we still must spend wisely

There will always be the temptation to waste money — that is always a risk when the coffers are overflowing

Mon, 24 Apr, 2023

McGrath's forecasts raise election temptation to spend unwisely and cut taxes, experts warn

McGrath's forecasts raise election temptation to spend unwisely and cut taxes, experts warn

The question is whether the coalition can resist the dangerous temptation to spend big and cut taxes before the next election.

Tue, 18 Apr, 2023

Woman Holding up a shop sign saying: Sorry we're Closed

Increase in insolvencies as Government covid supports end

Unviable 'zombie businesses' had been kept open, leading to a rise in closures once supports were removed, says economist

Fri, 07 Apr, 2023

Jim Power: As well as banking, SVB turmoil reveals vulnerability of the tech sector

Jim Power: As well as banking, SVB turmoil reveals vulnerability of the tech sector

As Warren Buffett once said, it is only when the tide goes out that you learn who has been swimming naked

Sun, 19 Mar, 2023

US-BANKING-MARKET-SVB

Eamon Quinn: Parallels between SVB collapse and 2008 banking crisis are very real

In other echoes of 2008, regulators and politicians in the US and Europe rallied to reassure that the emergency measures had worked.

Tue, 14 Mar, 2023

European Central Bank Supervisory Board Chairman Andrea Enria Interview

Jim Power: Households should brace for more ECB interest rate increases

ECB chief economist Philip Lane said last week there was still a strong case for the ECB to deliver an increase of half a point on March 16 — this rate increase has now become a nailed-on certainty.

Sun, 05 Mar, 2023

Woman working at a restaurant

One in five restaurants are at risk of closing if Vat rate rises, warns industry body

An economic report contested that the reduced rate of Vat should remain in place as the current trading environment remains volatile post-pandemic due to inflation

Sun, 12 Feb, 2023

Brexit

Jim Power: Lessons for Ireland in Britain's Brexit debacle

The UK is the only G7 economy the IMF projects will contract next year — it has said that even the Russian economy will grow by 0.3%.

Sun, 05 Feb, 2023

Payment left for restaurant meal

Tourism stakeholders reach fever pitch to keep lower Vat rate

As the deadline looms closer, it offers stakeholders in the tourism industry a chance to ramp up their efforts to try and finally win a long fought battle to reduce the rate of Vat permanently, writes Cáit Caden

Mon, 16 Jan, 2023

Woman working at a restaurant

Vat hike could lead to 24,000 job losses, report suggests

The State reduced the hospitality Vat rate from 13.5% to 9% to help hospitality businesses survive the impact of the pandemic. However, the current plan by Government is to put the rate back to 13.5% in March

Wed, 11 Jan, 2023

Jim Power: Ireland is still able to weather the tech storm

Jim Power: Ireland is still able to weather the tech storm

'It seems certain that the global tech sector will experience a decline in profits over the coming year. This is likely to undermine corporation tax paid in Ireland but could also have implications for employment in the sector.'

Sun, 08 Jan, 2023

Jim Power: Responsibility for housing should be given to the Taoiseach

Jim Power: Responsibility for housing should be given to the Taoiseach

Housing is not just a social issue but also an economic one

Wed, 28 Dec, 2022

Black Friday - Dublin

Jim Power: 2022 was still a remarkable year for the Irish economy

Despite the very negative global economic, financial and political headwinds, the Irish economy performed very strongly

Mon, 26 Dec, 2022

Why I'm more optimistic than pessimistic about Ireland’s prospects

Why I'm more optimistic than pessimistic about Ireland’s prospects

It's not all gloomy but some sectors face a slide in discretionary spending. Against this background, the Government should postpone hiking Vat on hospitality back up to 13.5%

Sun, 27 Nov, 2022

Jim Power: Global tech trouble clouds Irish economic outlook

Jim Power: Global tech trouble clouds Irish economic outlook

Layoffs at Twitter and Stripe, and poor results at Facebook and Amazon, bring a new uncertainty about the tech sector

Sun, 06 Nov, 2022

Brokers welcome Central Bank’s review of consumer protection code

Brokers welcome Central Bank’s review of consumer protection code

Brokers Ireland hopes the review will introduce a proportionate level of regulation that will benefit consumers without hindering brokers

Mon, 03 Oct, 2022

Mini-budget

Jim Power: The UK's fiscal woes could get worse

Here in Ireland, we can afford to look across the Irish sea with some amusement, but we shouldn’t get carried away.

Sun, 02 Oct, 2022

Tube strike

Bank of Ireland value falls €1bn since UK financial turmoil onset

Shares in other Irish firms with large British operations also hit

Thu, 29 Sep, 2022

Energy costs

Jim Power: Only real issue is the size and nature of budget intervention on energy bills

Many small businesses have not recovered fully from the effects of the pandemic, and this latest crisis could push many over the edge, writes Jim Power.

Sun, 18 Sep, 2022

Skills shortage: Irish employers urgently need more trained and experienced workers

Skills shortage: Irish employers urgently need more trained and experienced workers

As we emerge from the Covid-19 pandemic and approach full employment, a shortage of skilled people could jeopardise Ireland's economic recovery

Mon, 28 Feb, 2022

Mortgage drawdown values reach highest levels since recession

Mortgage drawdown values reach highest levels since recession

Economist Jim Power said there will need to be 40,000 new houses on the market every year for the next few years

Wed, 26 Jan, 2022

Brexit

Trade war warning for Britain: 'Targeting a Monaghan chicken is the same as targeting a Tyrone chicken'

A trade war between the UK and the EU could see the Irish economy become 'a hostage to the cycle of toxic British politics'.

Mon, 08 Nov, 2021

Fall in greyhound racing crowds blamed on perception and media refusal to cover sport

Fall in greyhound racing crowds blamed on perception and media refusal to cover sport

Industry was at the centre of a scandal in 2019 when an RTÉ documentary found up to 6,000 greyhounds were being killed each year because they were not fast enough

Tue, 27 Jul, 2021

Jim Power: As the Irish economy reopens, people will seek to rebuild their lives as quickly as possible

Jim Power: As the Irish economy reopens, people will seek to rebuild their lives as quickly as possible

In April, EU consumer sentiment jumped by the largest monthly rate since the series commenced in 1985, showing how eagerly vaccinated people are longing for a return to life as they knew it

Mon, 03 May, 2021

Fergus Finlay: There is real hope — just don't let economists knock us off the right track

Fergus Finlay: There is real hope — just don't let economists knock us off the right track

I don’t remember economists worrying about the mental health of people borrowed up to their eyeballs in the Celtic Tiger, writes Fergus Finlay

Tue, 09 Feb, 2021

Jim Power: Vaccine news offers cautious optimism

Jim Power: Vaccine news offers cautious optimism

The economist says the future looks brighter than it has done for some months

Mon, 16 Nov, 2020

Hospitality could feel Covid-19 impact for years, say business reps

Hospitality could feel Covid-19 impact for years, say business reps

The impact of Covid-19 could be felt in the hospitality sector until 2025, business representatives are warning.

Tue, 30 Jun, 2020

Restaurants warn there will be no boost in staycations unless they are supported

Restaurants warn there will be no boost in staycations unless they are supported

Estimates from the sector suggest that between 80% and 90% of restaurants could not operate with strict social distancing in place.

Mon, 22 Jun, 2020

Large number of Munster jobs are vulnerable to the Covid-19 economic crisis, new figures reveal

Large number of Munster jobs are vulnerable to the Covid-19 economic crisis, new figures reveal

Large parts of the workforce in Munster are vulnerable to any prolonged economic crisis from the Covid-19 health fallout, new figures suggest.

Fri, 22 May, 2020

Ireland to continue in acute emergency maybe ‘for years’

Ireland to continue in acute emergency maybe ‘for years’

Ireland will continue in the acute emergency phase of the Covid-19 crisis for "most probably years", with "further waves an ever-present danger," according to the Secretary General of the Department of Health.

Tue, 19 May, 2020

'I don't think it's crowing': Unite trade union rejects ISME criticism of public sector pay rise calls

'I don't think it's crowing': Unite trade union rejects ISME criticism of public sector pay rise calls

Neil McDonnell, CEO of small and medium business group Isme, says it is not appropriate for the call to be made now.

Mon, 18 May, 2020

Coronavirus: Summer shows shut down

Coronavirus: Summer shows shut down

The summer has effectively been cancelled, with gatherings of more than 5,000 people banned until September because of the Covid-19 pandemic.

Wed, 22 Apr, 2020

Ireland to tap €2bn of EU rescue fund

Ireland to tap €2bn of EU rescue fund

As few as 200 Irish companies are likely to avail of loans totalling €2bn from the much-vaunted €500bn package to rescue European economies from the Covid-19 crisis — far short of the huge amounts of liquidity that businesses here require, say experts.

Sat, 11 Apr, 2020

Irish firms likely to secure only €2bn loans under EU €500bn rescue pack for Covid-19

Irish firms likely to secure only €2bn loans under EU €500bn rescue pack for Covid-19

As few as 200 Irish companies may benefit from the EU’s €500bn rescue package and analysts say Europe will have to spend a lot more to mitigate the economic fallout from Covid-19 crisis.

Fri, 10 Apr, 2020