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Business - Today’s News

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 8,619 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 36,494 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 7,779 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 24,322 Views 35 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 22,014 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 16,119 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 73,188 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 32,657 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 41,500 Views 78 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 17,701 Views 14 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 34,889 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 47,950 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 28,666 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 19,561 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 36,745 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 66,335 Views 51 Comments

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

Business - Wednesday 16 March, 2022

Lower-income customers face 'real difficulty' from rising energy bills, says regulator
# Cost Of Living
# Cost Of Living

Lower-income customers face 'real difficulty' from rising energy bills, says regulator

Mar 16th 2022, 11:34 AM 16,232 Views 36 Comments

The chair of the Commission for the Regulation of Utilities said it is exploring every option.

Business - Tuesday 15 March, 2022

Ban on insurance 'price walking' from July but new customer discounts still allowed
# Regulations
# Regulations

Ban on insurance 'price walking' from July but new customer discounts still allowed

Mar 15th 2022, 12:01 PM 33,063 Views 32 Comments

The regulations were the result of a review by the Central Bank of the use of differential pricing.

Business - Friday 11 March, 2022

Fuel price crisis: Industry denies profiteering as hauliers set to receive €100-a-week grant
# Pay At The Pump
# Pay At The Pump

Fuel price crisis: Industry denies profiteering as hauliers set to receive €100-a-week grant

Updated Mar 11th 2022, 5:30 PM 37,404 Views 59 Comments

Micheál Martin said there was concern across Europe at high fuel prices, as Paschal Donohoe said he backed Martin’s comments.

Business - Thursday 10 March, 2022

Taoiseach says fuel price gouging 'morally reprehensible' as watchdog receives 25 more complaints
# CCPC
# CCPC

Taoiseach says fuel price gouging 'morally reprehensible' as watchdog receives 25 more complaints

Updated Mar 10th 2022, 6:25 PM 94,478 Views 133 Comments

It comes after allegations of price gouging by service station chains were aired in Dáil Éireann yesterday.

Billionaire Russian owner of Co Limerick aluminium plant named on UK sanctions list
# Ukraine
# Ukraine

Billionaire Russian owner of Co Limerick aluminium plant named on UK sanctions list

Mar 10th 2022, 12:21 PM 78,320 Views 21 Comments

Auginish Alumina employs 450 people in the Askeaton area of Co Limerick.

Cost-of-living crisis: Consumer prices up by 5.6%, the largest increase in 21 years
# Inflation
# Inflation

Cost-of-living crisis: Consumer prices up by 5.6%, the largest increase in 21 years

Mar 10th 2022, 11:53 AM 10,076 Views 7 Comments

The last time the CPI was this was was in April 2001.

Business - Tuesday 8 March, 2022

'Panic buying will only make the situation worse,' say Ireland's oil and fuel suppliers
# Energy Crunch
# Energy Crunch

'Panic buying will only make the situation worse,' say Ireland's oil and fuel suppliers

Mar 8th 2022, 2:58 PM 16,402 Views 26 Comments

Oil suppliers are limiting the amount they are selling to high volume customers.

Nervous times for Irish households and businesses as supply anxieties roll through markets
# Morning Memo
# Morning Memo

Nervous times for Irish households and businesses as supply anxieties roll through markets

Mar 8th 2022, 12:01 PM 15,920 Views 5 Comments

Market ructions, gas rationing and 1970s-style inflation fears hit the headlines.

Business - Monday 7 March, 2022

The price of wheat is soaring and the world is already feeling it
# Food Supplies
# Food Supplies

The price of wheat is soaring and the world is already feeling it

Mar 7th 2022, 1:13 PM 35,174 Views 25 Comments

Poorer countries are feeling it the most.

The €200 electricity rebate should be applied 'next month' as President Higgins signs law
# Cost Of Living Crisis
# Cost Of Living Crisis

The €200 electricity rebate should be applied 'next month' as President Higgins signs law

Mar 7th 2022, 8:49 AM 19,176 Views 32 Comments

The government is also providing advice to customers who hardship prepay meters.

Tougher rules for online card payments could affect customer subscriptions going through
# Anti-Fraud
# Anti-Fraud

Tougher rules for online card payments could affect customer subscriptions going through

Mar 7th 2022, 6:37 AM 41,382 Views 11 Comments

Higher security standards will come into effect for certain card payments from tomorrow.

Business - Friday 4 March, 2022

Ireland 'engaging' with EU on proposal to ban Russian ships from docking at European ports
# Ukraine
# Ukraine

Ireland 'engaging' with EU on proposal to ban Russian ships from docking at European ports

Mar 4th 2022, 5:17 PM 15,641 Views 19 Comments

Russian trade is facing severe disruption as a consequence of sanctions announced this week.

Business - Thursday 3 March, 2022

Explainer: How reliant is Ireland on Russian energy - and why are gas and oil prices rising?
# Ukraine
# Ukraine

Explainer: How reliant is Ireland on Russian energy - and why are gas and oil prices rising?

Mar 3rd 2022, 1:52 PM 60,940 Views 40 Comments

“When it comes to a global energy shortage, the implications are far more devastating in developing countries,” one economist said.

AIB returns to profit as discussions underway to buy back some State shares
# Banking
# Banking

AIB returns to profit as discussions underway to buy back some State shares

Mar 3rd 2022, 12:41 PM 10,050 Views 11 Comments

The bank will pay out €213 million to shareholders, including the State.

Business - Tuesday 1 March, 2022

Three Irish-registered firms linked to Russian banks or people who've been sanctioned, says Taoiseach
# IFSC
# IFSC

Three Irish-registered firms linked to Russian banks or people who've been sanctioned, says Taoiseach

Mar 1st 2022, 4:24 PM 37,200 Views 10 Comments

Micheál Martin was speaking in response to a question from Catherine Murphy TD.

Morning Memo: Western sanctions heap pressure on Russian banks
# Ukraine
# Ukraine

Morning Memo: Western sanctions heap pressure on Russian banks

Mar 1st 2022, 10:56 AM 16,290 Views 5 Comments

Russia’s currency has depreciated rapidly in the past few days of trade.

Business - Monday 28 February, 2022

Bank of Ireland reports a pre-tax profit of €1.4 billion for 2021
# The Banks
# The Banks

Bank of Ireland reports a pre-tax profit of €1.4 billion for 2021

Feb 28th 2022, 11:04 AM 17,816 Views 50 Comments

Bank of Ireland CEO Francesca McDonagh said it delivered its “strongest performance since the global financial crisis”.

Business - Sunday 27 February, 2022

SWIFT exclusion the most 'disruptive sanction' against Russia
# Ukraine
# Ukraine

SWIFT exclusion the most 'disruptive sanction' against Russia

Feb 27th 2022, 12:21 PM 36,234 Views 23 Comments

Swift is a discreet but important cog in the machinery of international finance.

Business - Wednesday 23 February, 2022

Facebook whistleblower tells TDs that harm from metaverse 'could be worse'
# Frances Haugen
# Frances Haugen

Facebook whistleblower tells TDs that harm from metaverse 'could be worse'

Feb 23rd 2022, 4:42 PM 21,935 Views 14 Comments

Facebook employee-turned-whistleblower Frances Haugen has made a number of blistering claims about the social network.

Tesco security staff given extra week to decide between severance and moving to new company
# Security Guards
# Security Guards

Tesco security staff given extra week to decide between severance and moving to new company

Feb 23rd 2022, 11:34 AM 46,368 Views 0 Comments

Earlier this month almost 100 Tesco security workers were told their jobs could be lost by the end of February.

Business - Monday 21 February, 2022

Data leak reveals Credit Suisse bank accepted 'autocrats, war criminals and human traffickers'
# Data Breach
# Data Breach

Data leak reveals Credit Suisse bank accepted 'autocrats, war criminals and human traffickers'

Updated Feb 21st 2022, 10:39 AM 29,080 Views 20 Comments

German daily newspaper Sueddeutsche Zeitung received the data last year.

Business - Wednesday 16 February, 2022

'Good job in the pandemic lads, now you're gone': Tesco security guards shocked at job losses
# Job Losses
# Job Losses

'Good job in the pandemic lads, now you're gone': Tesco security guards shocked at job losses

Updated Feb 16th 2022, 12:05 AM 103,482 Views 87 Comments
  • Almost 100 Tesco security workers face losing their jobs by the end of the month, Órla Ryan reports
  • Security guards said they were verbally abused and spat on during the pandemic and have now been made to feel "disposable"
  • "I've worked for this company since I was 16 years of age, I literally do not know anything else," one man told us

Business - Tuesday 15 February, 2022

Irish exports hit their highest-ever level in 2021 while trade with Northern Ireland surged
# Brexit
# Brexit

Irish exports hit their highest-ever level in 2021 while trade with Northern Ireland surged

Feb 15th 2022, 4:01 PM 10,274 Views 10 Comments

Imports and exports to and from Northern Ireland both rose by nearly €4 billion.

Business - Monday 14 February, 2022

Irish utility contracting firm to create 150 new jobs
# Jobs
# Jobs

Irish utility contracting firm to create 150 new jobs

Feb 14th 2022, 6:56 AM 26,525 Views 1 Comment

Gaeltec provides specialist contracting support to public and private companies rolling out or upgrading energy and telecoms infrastructure.