||Last Updated: Oct 9, 2015 - 12:32 AM
May 8, 2015 - 3:15 PM
US nonfarm payroll employment rose by 223,000 in April, after edging up in March (+85,000). The official unemployment rate was essentially unchanged at 5.4% in April. Employment rose over the month in professional and business services, health care, and construction. Job losses continued in mining while the broad jobless rate was 10.8%.
May 8, 2015 - 8:40 AM
Germany may cut income tax after a government working group has forecast rising tax revenues in coming years. Meanwhile Germans remain cautious savers according to a new report.
May 8, 2015 - 8:13 AM
Germany had record exports and imports in March 2015 according to Destatis, the federal statistics office, today.
May 7, 2015 - 3:06 PM
The worms and the people behind Swiss Silk have something in common – both are motivated. For the silkworms it’s a matter of eating enough mulberry leaves to complete their lifecycle. For the producers, it’s a make or break moment to keep their tiny sector alive.
May 7, 2015 - 2:43 PM
Fluctuating markets and an unstable economy make cost control a challenging area for startup businesses. Avoiding unnecessary expense is one of the keys to reaching breakeven point quickly, regardless of whether that expense is large or small.
May 7, 2015 - 8:40 AM
The Organisation for Economic Cooperation and Development (OECD) has published a new briefing on minimum wages (MW) in the 34-member country OECD area and it contains comparisons for minimum wage levels between countries, as well as the differing tax and contributions paid by employers and workers. It also highlights the need for governments to co-ordinate minimum wages with other policies, especially taxes and benefits, and regularly adjust them in light of economic and job market developments.
May 6, 2015 - 8:12 AM
The North Sea Brent oil price benchmark that is responsible for about two-thirds of international oil futures trading has risen over $68 per barrel on Wednesday - a rise of almost 50% in 2015.
May 6, 2015 - 7:03 AM
Irish Exchequer Returns show a deficit at end-April 2015 of €2.32bn compared to a deficit of €4.75bn in the same period last year. The improvement in the Exchequer deficit is driven by increased tax receipts and the transfer of €1.63bn from the NPRF (National Pensions Reserve Fund) to the Exchequer. Meanwhile tax revenues were €518m (4.2%) above target. However, tax revenues for the month of April were down €27m (1.1%) against the monthly target. Tax receipts are up 11.3% or €1.3bn on the same period in 2014.
May 6, 2015 - 6:13 AM
Faster growth of new business fuelled another strong month for the Irish service sector PMI (purchasing managers' index) in April as activity continued to rise sharply and business sentiment picked up. Meanwhile, companies were able to raise their output prices to the greatest extent since June 2002.
May 5, 2015 - 8:12 AM
In 2014 S&P 500 companies in the US spent 95% of their operating margins on their own shares or in dividend payouts and they are expected to top $1tn in 2015.
May 5, 2015 - 8:06 AM
The global economy has continued to slow down in April more than consensus forecasts projected according to “nowcasts”, while forecasters continue to believe that this slowdown will prove temporary. Meanwhile PMI data show that rates of expansion in both production and new orders eased in April to the weakest since mid-2013.
May 4, 2015 - 11:11 AM
Growth of the Eurozone manufacturing sector was maintained in April, with the rate of expansion easing only slightly from March’s ten-month high. Although domestic market conditions remained subdued in a number of nations, most benefitted from increases in new export orders. At 52.0 in April, down from 52.2 in March, the final seasonally adjusted Eurozone Manufacturing PMI (purchasing managers' index) came in a tick higher than its earlier flash estimate of 51.9.
May 4, 2015 - 10:40 AM
More than 300 shareholders and executives at Irish tech firms have become millionaires over the past 15 years through selling their businesses, according to a new report on mergers and acquisitions in the IT sector. However, there have been no significant scaleups (“Competitive advantage doesn’t go to the nations that focus on creating companies, it goes to nations that focus on scaling companies”) despite the commercialisation of research being the flagship enterprise policy.
May 1, 2015 - 8:27 AM
AIB Group today announced a number of reductions to its mortgage rates for owner occupier and buy-to-let mortgages. These include a cut of 0.25% for AIB Standard Variable Rate (SVR) customers and 0.38% for EBS and Haven SVR customers. The bank also announces reductions in Loan to Value (LTV) and Fixed Rate mortgages across AIB, EBS and Haven.
May 1, 2015 - 8:24 AM
The Irish manufacturing PMI remained strong in April but this survey data is polluted by booking of overseas manufacturing in Ireland for tax avoidance purposes.
Apr 30, 2015 - 7:44 AM
A new study takes aim at the stereotype of the faceless, corporate machine, showing that family-controlled enterprises such as Wal-Mart or Switzerland’s Roche make up 80-90% of all companies across the globe. Europe has a big presence among the world's top 500 family-controlled firms.
Apr 30, 2015 - 7:28 AM
Apple warned on Tuesday that it may be forced to pay tax to Ireland on up to 10 years of profits if the European Commission issues an adverse finding following its current investigation of Irish tax rulings that were issued to the American tech giant.
Apr 29, 2015 - 3:24 PM
US economic growth plunged in Q1 2015 as businesses cut investment, exports plunged and consumers showed signs of caution, marking a return to the bumpy growth that has characterised the nearly six-year economic expansion.
Apr 29, 2015 - 12:38 PM
The number on the Live Register plus public activation scheme numbers was unchanged in April from March 2015 - a fall in the Live Register numbers was offset by a rise in the activation numbers by 2,000 (the activation data is one month behind).
Apr 29, 2015 - 12:04 PM
In April, after three consecutive months of improved readings, the Economic Sentiment Indicator (ESI) slightly fell in the Eurozone (-0.2 points to 103.7)— Germany and France posted declines — and rose in the EU (+0.3 points to 106.4).
Apr 29, 2015 - 7:48 AM
Ireland: Three months after the Coalition announced that a full-employment target had been brought forward to 2018 from 2020, the 'Stability Programme April 2015 Update' report that was prepared for the European Commission and published Tuesday, shows that neither a full-employment target will be achieved in 2018 or 2020 (see chart above).
Apr 28, 2015 - 3:47 PM
Ireland Spring Statement: Michael Noonan, finance minister, today presented an outline of the budgetary framework in advance of Budget 2016 which will be presented next October. He said the Department of Finance had forecast that 200,000 net new jobs will be added by 2018. This is an average of 50,000 net new jobs per year in each year from 2015.
Apr 28, 2015 - 1:43 PM
In the month of March residential property prices rose by 0.9% nationwide. Residential property prices were up 16.8% on an annual basis. In Dublin residential property prices rose by 1.1% in March.
Apr 28, 2015 - 1:40 PM
The volume of retail sales (i.e. excluding price effects) increased by 1.4% in March 2015 when compared with February 2015 and there was an increase of 9.2% in the annual figure. If Motor Trades are excluded, there was a decrease of 1.0% in the volume of retail sales in March 2015 when compared with February 2015 and there was an increase of 4.7% in the annual figure.
Apr 28, 2015 - 7:41 AM
Irish Spring Statement: The Coalition's announcement today of plans for tax cuts and spending rises in the coming three years will mark the unofficial launch of the general election campaign, which must be held at the latest by March 2016.
Apr 28, 2015 - 7:33 AM
More than one-in-five EU part-time workers are underemployed according to data published Monday by Eurostat, the EU's statistics office. More than a quarter of part-timers in Ireland are underemployed.
Apr 28, 2015 - 2:09 AM
Apple Inc. is pulling off a feat rarely seen in any industry, much less the cutthroat world of consumer electronics: gaining market share while also commanding higher prices, according to The Wall Street Journal today. Led by the larger-display iPhones it introduced last fall, Apple on Monday said it sold 61.2m iPhones in the three months ended March 28, up 40% from the year-earlier period. Many of those sales came in emerging markets, including a 72% gain in the number of phones sold in China.
Apr 26, 2015 - 10:38 AM
Spring Statement: A time of economic recovery should be used to address long-term challenges facing the Irish economy but there is little evidence that the Coalition has either a vision or serious focus on the years beyond the next general election.
Apr 24, 2015 - 11:22 AM
The National Competitiveness Council (NCC) today launched its Costs of Doing Business in Ireland 2015 report which says that despite price falls during the recession, Ireland remains an expensive location in which to do business, relative to some of our key competitors. Ireland is also the 3rd most expensive location in the Eurozone for consumer goods and services.
Apr 24, 2015 - 9:21 AM
Ireland: The biggest income loss during the recession was incurred by the poorest in Irish society according to the results of a new study by the Economic and Social Research Institute (ESRI), which will be presented Friday afternoon in Dublin.
Apr 23, 2015 - 9:21 AM
Eurozone business activity growth pulled back from March's 11-month high, according to flash PMI (purchasing managers' index) survey data for April. The slowdown reflected weaker rates of expansion in France and Germany, which offset an acceleration of growth in the rest of the region to the fastest since August 2007.
Apr 22, 2015 - 7:51 AM
Investors in securities markets are now strongly betting the Federal Reserve won’t raise interest rates in June, but the million dollar question is will the Fed ever be able to raise interest rates again?
Apr 22, 2015 - 7:28 AM
The world’s 250 largest consumer products companies generated sales of nearly $3.1tn in fiscal year 2013 (which encompasses fiscal years ended through June 2014), despite economic uncertainty. The top 10 firms accounted for almost 30% of revenues.
Apr 21, 2015 - 7:45 AM
Mainly American firms account for about 60% of Irish pharmaceutical and medical device exports but they do not engage in significant research that merits patenting. China has had a similar experience as regards R&D (research and development) but there is pressure on Big Pharma to increase international research while falling productivity of R&D in the US is also a push factor to increase activity in emerging markets.
Apr 20, 2015 - 7:53 AM
In the US new businesses account for nearly all net new job creation and almost 20% of gross job creation, whereas small businesses do not have a significant impact on job growth when age is accounted for. Last September, Schumpeter, The Economist columnist, wrote: "It is fashionable to romanticise entrepreneurs. Business professors celebrate the geniuses who break the rules and change the world. Politicians praise them as wealth creators. Glossy magazines drool over Richard Branson’s villa on Lake Como. But the reality can be as romantic as chewing glass: first-time founders have the job security of zero-hour contract workers, the money worries of chronic gamblers and the social life of hermits."
Apr 17, 2015 - 8:02 AM
Both the UK and Ireland have low levels of business research and development (R&D) spending compared with other advanced economies and they are also heavily reliant on foreign firms.
Apr 16, 2015 - 6:47 AM
Global property returns in 2014 suggest how negative interest rates or rates close to zero have the potential of creating another bubble with Dublin topping total returns at 44.7% from 25 countries.
Apr 16, 2015 - 5:36 AM
The Economist Corporate Network (ECN) says that for the past twenty years, the centre of the global economy has been shifting from the developed to the developing world. Today, growth rates in developing economies are many times higher than in developed economies. Africa, in general, and Sub-Saharan Africa, in particular, are two notable cases in point. In 2015 Sub-Saharan Africa’s GDP is expected to grow at 4.5%, making it the fastest-growing economic zone in the world, outpacing Asia’s regional average of 4.3% annual growth.
Apr 15, 2015 - 7:36 AM
Global investors see growing overvaluations in both bonds and equities and have signaled concern about a valuation bubble forming, according to the BofA Merrill Lynch Fund Manager Survey for April. With an estimated €1.5tn of euro sovereign bonds now showing negative yields, the Eurozone is increasingly seen as a debtors’ paradise. According to the FT more than two-thirds of euro denominated corporate bonds rated as investment grade now yield less than 1% as borrowing costs continue to tumble following the launch of quantitative easing in the Eurozone.
Apr 15, 2015 - 5:48 AM
Growth in the volume of world merchandise trade will pick up only slightly over the next two years, rising from 2.8% in 2014 to 3.3% in 2015 and eventually to 4.0% in 2016, WTO economists announced Tuesday. Trade expansion will therefore remain well below the annual average of 5.1% posted since 1990 giving rise to fears that globalisation maybe stalling.