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Business - Today’s News

Billionaires’ wealth rose more during Covid-19 pandemic than in 23 years combined
# Davos
# Davos

Billionaires’ wealth rose more during Covid-19 pandemic than in 23 years combined

2 hours ago 8,503 Views 18 Comments

A new billionaire was created every 30 hours during the pandemic, according to Oxfam.

Business - Friday 20 May, 2022

Construction costs surge again in April as inflation continues to pump up wholesale prices
# Price Pressures
# Price Pressures

Construction costs surge again in April as inflation continues to pump up wholesale prices

Fri 2:52 PM 16,181 Views 18 Comments

Structural steel and fabricated metal prices were up 42% and 38.5% respectively over 12 months.

Business - Wednesday 18 May, 2022

Exiting Ulster Bank gives customers six-month 'deadline' to repay their overdrafts
# The Banks
# The Banks

Exiting Ulster Bank gives customers six-month 'deadline' to repay their overdrafts

Wed 4:25 PM 37,803 Views 27 Comments

But bank officials said the lender will remain flexible and urged customers having difficulties to come forward immediately.

Department to explore 'substantial' revisions to remote working bill after criticism
# Home Work
# Home Work

Department to explore 'substantial' revisions to remote working bill after criticism

Updated Wed 12:00 PM 36,200 Views 56 Comments

The draft bill has gone down like a “lead balloon” with workers, said Sinn Féin’s Louise O’Reilly.

Business - Monday 16 May, 2022

Buy-now-pay-later firms offering 'indirect credit' must now be authorised by the Central Bank
# New Rules
# New Rules

Buy-now-pay-later firms offering 'indirect credit' must now be authorised by the Central Bank

May 16th 2022, 2:14 PM 13,639 Views 5 Comments

The regulator has also placed an interest rate cap of 23% APR on all consumer credit agreements.

Ryanair lost €355 million last year amid 'fragile' recovery in air travel from the pandemic
# Turbulent Times
# Turbulent Times

Ryanair lost €355 million last year amid 'fragile' recovery in air travel from the pandemic

May 16th 2022, 7:44 AM 9,238 Views 4 Comments

The low-cost airline said it hopes to return to profitability in the current financial year,

Business - Friday 13 May, 2022

Elon Musk 'still committed' to $44 billion Twitter takeover despite putting deal 'on hold'
# Twitter Takeover
# Twitter Takeover

Elon Musk 'still committed' to $44 billion Twitter takeover despite putting deal 'on hold'

Updated May 13th 2022, 2:20 PM 23,601 Views 15 Comments

The Tesla chief executive tweeted the news this morning.

Business - Thursday 12 May, 2022

Despite prices falling at the pump, annual Irish consumer price inflation hit 7% in April — a 22-year high
# Cost Of Living
# Cost Of Living

Despite prices falling at the pump, annual Irish consumer price inflation hit 7% in April — a 22-year high

May 12th 2022, 11:42 AM 10,324 Views 26 Comments

Consumer price inflation has now been rising at an annual pace of 5% or more since October 2022.

Business - Tuesday 10 May, 2022

Competition authority launches full probe into Permanent TSB's €7.6 billion Ulster Bank deal
# The Banks
# The Banks

Competition authority launches full probe into Permanent TSB's €7.6 billion Ulster Bank deal

May 10th 2022, 2:20 PM 15,057 Views 6 Comments

The investigation will determine whether the proposed acquisition could lead to a substantial lessening of competition in the State.

Business - Thursday 5 May, 2022

European Parliament votes to extend Digital Covid Certs for 12 months
# Travel
# Travel

European Parliament votes to extend Digital Covid Certs for 12 months

May 5th 2022, 12:09 PM 23,212 Views 22 Comments

The non-binding vote means member states can discuss extending the system past the end date of 30 June.

Business - Wednesday 4 May, 2022

Contactless and smartphone payments on Dublin Bus may be possible 'late next year'
# Tap Tap Tap
# Tap Tap Tap

Contactless and smartphone payments on Dublin Bus may be possible 'late next year'

May 4th 2022, 6:23 PM 17,479 Views 38 Comments

Dublin Bus CEO Ray Coyne also said that any decision to go fully cashless would be taken by government.

Business - Sunday 1 May, 2022

Cost of living: Price rises on electricity and gas to kick in from today
# Inflation Crisis
# Inflation Crisis

Cost of living: Price rises on electricity and gas to kick in from today

May 1st 2022, 7:00 AM 31,009 Views 53 Comments

The contentious increase in Carbon Tax begins from today as part of the legislated gradual increase of the charge

Business - Saturday 30 April, 2022

After Moscow follows through on gas cut threat, 'all bets are off' on Europe's Russian supply
# Energy Crisis
# Energy Crisis

After Moscow follows through on gas cut threat, 'all bets are off' on Europe's Russian supply

Apr 30th 2022, 12:05 AM 39,604 Views 24 Comments
  • Russia may have 'crossed the Rubicon' by halting gas flows to Poland and Bulgaria this week, experts say.
  • The move by Gazprom throws into question assumptions about Russia's unwillingness to retaliate using its energy exports.
  • Ireland imports no gas directly from Russia but a loss of Russian supply to Europe could further push up global prices.

Business - Friday 29 April, 2022

Flurry of announcements caps off noteworthy week for Irish banks and their customers
# The Banks
# The Banks

Flurry of announcements caps off noteworthy week for Irish banks and their customers

Apr 29th 2022, 12:26 PM 16,290 Views 0 Comments

Stakeholders say the industry is staring down the barrel of one of the biggest logistical challenges in its history.

Business - Tuesday 26 April, 2022

Bank of Ireland announces CEO Francesca McDonagh to step down
# Banking
# Banking

Bank of Ireland announces CEO Francesca McDonagh to step down

Apr 26th 2022, 6:59 PM 36,393 Views 34 Comments

McDonagh joined Bank of Ireland in October 2017 as Group Chief Executive Officer.

Question marks hang over Elon Musk's plans after $44 billion Twitter takeover deal
# Known Unknowns
# Known Unknowns

Question marks hang over Elon Musk's plans after $44 billion Twitter takeover deal

Apr 26th 2022, 5:25 PM 16,437 Views 20 Comments

What has Musk said about his vision for the social media platform and what do experts think is actually going to happen?

Dáil turf wars: Eamon Ryan seeks to unite coalition against Sinn Féin motion
# Fossil Fuels
# Fossil Fuels

Dáil turf wars: Eamon Ryan seeks to unite coalition against Sinn Féin motion

Apr 26th 2022, 9:46 AM 45,004 Views 81 Comments
  • The government insists there is no outright ban and that there are exemptions to the regulations.
  • Several coalition TDs have expressed concern about what the rules would mean for rural areas.
  • Sinn Fein calls the new rules "unfair and unworkable".

Business - Monday 25 April, 2022

Twitter confirms sale of company to Elon Musk for $44 billion
# Silly Money
# Silly Money

Twitter confirms sale of company to Elon Musk for $44 billion

Updated Apr 25th 2022, 8:44 PM 73,915 Views 82 Comments

Tesla CEO Musk said on Thursday he had secured funding to finance the purchase.

Business - Friday 22 April, 2022

€200m plan for wind energy hub at Rosslare 'could be the south-east's Silicon Docks'
# Investment
# Investment

€200m plan for wind energy hub at Rosslare 'could be the south-east's Silicon Docks'

Apr 22nd 2022, 7:40 AM 15,233 Views 8 Comments

Rosslare Europort wants to act as a base for the offshore renewable energy industry.

Business - Wednesday 20 April, 2022

City centre businesses vote to retain DublinTown organisation for another five years
# Dublin Town
# Dublin Town

City centre businesses vote to retain DublinTown organisation for another five years

Apr 20th 2022, 3:12 PM 11,868 Views 14 Comments

Out of 2,500 eligible businesses, just over 1,200 took part in the plebiscite on the future of the scheme.

Business - Tuesday 19 April, 2022

The Twittering classes: Elon Musk's $43 billion bid and Twitter's 'poison pill'
# Morning Memo
# Morning Memo

The Twittering classes: Elon Musk's $43 billion bid and Twitter's 'poison pill'

Apr 19th 2022, 11:33 AM 13,666 Views 12 Comments

Twitter co-founder and board member Jack Dorsey has signalled his unhappiness with the board’s handling of the situation.

Business - Thursday 14 April, 2022

Boston Scientific to pump €100 million into Galway facility, adding 300 jobs
# Ballybrit
# Ballybrit

Boston Scientific to pump €100 million into Galway facility, adding 300 jobs

Apr 14th 2022, 8:13 AM 11,836 Views 9 Comments

Opened in 2019, the facility is the firm’s second in Galway City where it has had a presence since 1994.

Business - Wednesday 13 April, 2022

Ulster Bank gives current and deposit account customers six months' notice to switch providers
# The Banks
# The Banks

Ulster Bank gives current and deposit account customers six months' notice to switch providers

Apr 13th 2022, 1:39 PM 28,310 Views 11 Comments

Separately, KBC Bank announced yesterday that from June, customers will get 90 days’ notice to move their accounts.

Business - Monday 11 April, 2022

Raise social welfare rates to shield struggling households from spiralling inflation, experts say
# Cost Of Living
# Cost Of Living

Raise social welfare rates to shield struggling households from spiralling inflation, experts say

Apr 11th 2022, 12:05 AM 52,088 Views 58 Comments
  • Current social welfare rates were set last year when inflation was expected to peak at 4.5% annually.
  • But with prices on the march, household earnings are now expected to fall in real terms in 2022 for the first time since 2013.
  • Economists say raising core social welfare raise on a temporary basis could be the best way of protecting low-income households.

Business - Thursday 7 April, 2022

Cost of living anxieties mount as inflation accelerates to 6.7% in March
# Consumer Prices
# Consumer Prices

Cost of living anxieties mount as inflation accelerates to 6.7% in March

Apr 7th 2022, 11:43 AM 8,576 Views 21 Comments

It represents the largest annual change in prices since November 2000.

Brittany Ferries to operate 'huge' tourist-oriented vessel on Rosslare to Bilbao route
# Ferry Nice
# Ferry Nice

Brittany Ferries to operate 'huge' tourist-oriented vessel on Rosslare to Bilbao route

Apr 7th 2022, 11:04 AM 36,327 Views 22 Comments

Unveiled in February 2020, originally as a freight route, the link from Wexford to the Basque city has proved popular.

Business - Wednesday 6 April, 2022

Tax receipts climbed in the first three months of 2022 but figures are 'flattered' by Covid
# Taxing Matters
# Taxing Matters

Tax receipts climbed in the first three months of 2022 but figures are 'flattered' by Covid

Apr 6th 2022, 2:50 PM 7,748 Views 9 Comments

Tax revenues were up over 30% compared with the same period last year when strict public health measures were in place.

'Real' incomes to fall for first time since 2013 with inflation outpacing wage growth
# Cost Of Living
# Cost Of Living

'Real' incomes to fall for first time since 2013 with inflation outpacing wage growth

Apr 6th 2022, 12:10 AM 24,269 Views 36 Comments

The war is expected to “weigh” on trade and overall growth while fueling “strong” energy price inflation, the Central Bank said,

Business - Monday 4 April, 2022

Irish food giant Kerry Group to suspend operations in Russia and Belarus
# Ukraine
# Ukraine

Irish food giant Kerry Group to suspend operations in Russia and Belarus

Apr 4th 2022, 3:02 PM 21,968 Views 21 Comments

The company, which employs 250 people in Russia and Belarus, said it is “horrified” by the humanitarian crisis in Ukraine.

Irish grocery prices have increased at their fastest pace this year in nearly a decade
# Cost Of Living
# Cost Of Living

Irish grocery prices have increased at their fastest pace this year in nearly a decade

Apr 4th 2022, 1:31 PM 15,860 Views 35 Comments

To “mitigate supply chain pressure”, supermarkets are running fewer promotions, Kantar said.

Banks 'ill-prepared for the biggest logistical challenge in Irish banking since the euro'
# The Banks
# The Banks

Banks 'ill-prepared for the biggest logistical challenge in Irish banking since the euro'

Apr 4th 2022, 12:05 AM 72,964 Views 32 Comments
  • Concerns have been raised that the exits of Ulster Bank and KBC Bank could be "the perfect storm" for the remaining banks.
  • Over one million customers will have to choose a new provider and switch over their current accounts.
  • But the Financial Services Union believes significant customer service issues are likely to arise, Ian Curran reports.

Business - Friday 1 April, 2022

Explainer: Why is Vladimir Putin demanding that Europe pays for Russian gas in roubles?
# Ukraine
# Ukraine

Explainer: Why is Vladimir Putin demanding that Europe pays for Russian gas in roubles?

Apr 1st 2022, 6:18 PM 32,625 Views 10 Comments

Germany has warned its citizens that gas rationing could be implemented if Russian flows are interrupted.

Business - Wednesday 30 March, 2022

Electric Ireland to raise electricity and gas prices by over 20% from start of May
# Energy Costs
# Energy Costs

Electric Ireland to raise electricity and gas prices by over 20% from start of May

Mar 30th 2022, 12:58 PM 41,444 Views 77 Comments

Electric Ireland is the latest energy provider to announce a price hike.

Land Development Agency lodges plans for close to 1,000 homes on Central Mental Hospital site
# Dundrum
# Dundrum

Land Development Agency lodges plans for close to 1,000 homes on Central Mental Hospital site

Mar 30th 2022, 11:31 AM 17,635 Views 15 Comments

The project consists of 940 apartments, 17 duplexes and 20 houses.

Business - Monday 28 March, 2022

Ulster Bank to write to customers, giving them six months to close current and deposit accounts
# The Banks
# The Banks

Ulster Bank to write to customers, giving them six months to close current and deposit accounts

Mar 28th 2022, 3:23 PM 34,721 Views 27 Comments

It’s part of the NatWest-owned bank’s phased withdrawal from the market in the Republic of Ireland, announced in February 2021.

Business - Sunday 27 March, 2022

Ireland's inflation shock explained: The factors driving up prices here and across the globe
# Cost Of Living
# Cost Of Living

Ireland's inflation shock explained: The factors driving up prices here and across the globe

Mar 27th 2022, 12:05 AM 47,698 Views 32 Comments
  • "What we have at present is pretty much all being driven by international factors," one economist said.
  • Issues around energy, food and fertiliser supplies have all reared their heads as a consequence of the war in Ukraine.
  • Consumer sentiment has dipped amid rising prices, raising some concern about Ireland's economic prospects this year.

Business - Thursday 24 March, 2022

Irish arm of large US financial firm fined €10.78 million over 'serious systemic' breaches
# Central Bank
# Central Bank

Irish arm of large US financial firm fined €10.78 million over 'serious systemic' breaches

Updated Mar 24th 2022, 2:48 PM 28,624 Views 8 Comments

BNY Mellon Fund Services also provided “inaccurate and misleading information” to the Central Bank.

Business - Wednesday 23 March, 2022

Petrol prices: Consumer watchdog receives almost 200 complaints in two weeks
# Cost Of Living
# Cost Of Living

Petrol prices: Consumer watchdog receives almost 200 complaints in two weeks

Updated Mar 23rd 2022, 3:23 PM 19,530 Views 18 Comments

The CCPC has urged anyone with information about cartel behaviour and collusion to come forward as a whistleblower.

Disposable incomes to fall for the first time since 2012 amid rampant inflation, economists say
# Cost Of Living
# Cost Of Living

Disposable incomes to fall for the first time since 2012 amid rampant inflation, economists say

Updated Mar 23rd 2022, 10:00 AM 36,679 Views 56 Comments

The combined impact of higher prices and greater uncertainty in global trade from the war in Ukraine is likely to weaken Irish growth this year.

Business - Thursday 17 March, 2022

P&O Ferries staff refuse to leave ships after company makes 800 workers redundant
# Job Losses
# Job Losses

P&O Ferries staff refuse to leave ships after company makes 800 workers redundant

Updated Mar 17th 2022, 3:50 PM 66,324 Views 51 Comments

In a statement, the company said that in its current state, “P&O Ferries is not a viable business.”

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