Oct 9, 2015 - 12:32 AM
May 15, 2015 - 8:14 AM
The European Central Bank president said on Thursday that the current program of bond buying known as quantitative easing or money printing, will not be ended early but he warned that central banks have to be aware of the risk that prolonged low interest rates and bond buying, could lead to financial instability and worsen income inequality.
May 14, 2015 - 8:14 AM
Estonia, Austria, France and Ireland head global alcohol consumption rankings according to a report by the Organisation of Economic Cooperation and Development (OECD).
May 13, 2015 - 11:27 AM
A return to growth in France and Italy helped boost Eurozone economic growth in the first three months of 2015 to its fastest rate in almost two years. For the first time since H1 2010, all four of the Eurozone’s biggest economies posted growth, while Spain, headed the group with a 0.9% growth rate and the German economy slowed to a 0.3% rate compared with 0.7% in Q4 of 2014. And for the first time since the first quarter of 2011, the currency area’s economy grew faster than both the US and the UK’s.
May 13, 2015 - 8:28 AM
Senate Democrats on Tuesday defeated a bill to give President Barack Obama authority to fast-track negotiations on key trade deals.
May 13, 2015 - 7:43 AM
The German economy continued to grow at a slightly slower pace while in France GDP (gross domestic product) increased at a faster pace in Q1 (first quarter) 2015. German and French exporters did not benefit from weakness in the euro, as the European Central Bank began its €1.1tn bond-buying program while German industrial production fell by 0.5% in March. In France in Q1 2015, production in goods and services rose by 0.7% after stagnation at the end of 2014.
May 12, 2015 - 8:10 AM
Asia accounts for 40% of global output and two-thirds of global growth. Growth in the region including the Pacific area will continue to outperform the rest of the world, and is expected to remain steady at 5.6% in 2015, easing slightly to 5.5% in 2016, according to the IMF’s Regional Economic Outlook for Asia and the Pacific.
May 12, 2015 - 7:28 AM
This month Switzerland's financial regulator, Financial Market Supervisory Authority (FINMA), rejected the Bill & Melinda Gates Foundation's appeal against the Burkard family's right to invoke a controversial opt-out clause over the sale of shares in Sika, a Swiss construction industry firm, to Saint-Gobain, a French conglomerate. The family, descendants of Sika's founder, owning just a 16.1% stake but with control of 52.4% of all votes, in 2014 secretly sold their stake at an 80% premium price of CHF2.75bn ($2.85bn) over the market price but Saint-Gobain refused to pay a premium to the rest of the shareholders.
May 11, 2015 - 9:15 AM
US non-financial companies rated by Moody's Investor Services held $1.73tn in cash at the end of 2014, up 4% from $1.67tn a year earlier amid modest GDP growth, Moody's says in a new report. The top 50 holders of cash account for 63% of the total cash pile, or $1.08tn, and entry to the top 50 list now requires $6.1bn in cash. The top five firms held about 25% of the total.
May 11, 2015 - 9:11 AM
A new report, “The NHS: How does it compare?”, from the Economist Intelligence Unit (The EIU) has found that the UK has fewer doctors, nurses, hospital beds and crucial medical equipment than most other wealthy nations.
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 8, 2015 - 8:02 AM
China's exports unexpectedly fell in April 2015 after a dip in March highlighting the weak local economy and the implications for global growth.
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.