Business News

State loses €4bn as Brexit chaos batters bank shares

13th December 2018

A plunge in shares has wiped €4bn off the value of the State’s stake in bailed-out banks this year. The massive drop in value raises a serious question mark over the Government’s policy of holding on to the bank stakes for so long. Shares in AIB, Bank of Ireland and Permanent TSB have been battered, […]

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Robots will take half of jobs unless we act

13th December 2018

Irish workers face an almost 50pc chance their job will be automated in little more than a decade. The stark warning that robots and other forms of automation may replace some workers came as the Government announced projects which will share €75m in funding as part of a bid to secure future jobs. Business Minister […]

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‘Paltry fine at odds with costs borne by ordinary citizens’

13th December 2018

The paltry fine of €23,000 slapped on Irish Nationwide Building Society’s one-time head of commercial lending, Tom McMenamin, bears no relationship to the scale of losses at the now bust lender. Taxpayers sank €5.4bn into INBS, which was nationalised in 2010 during the depths of the crisis, and will claw back little or nothing of […]

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Cut to pensions tax relief will lead to mass exodus by savers, warns provider

12th December 2018

Government proposals that could see the income tax relief on pensions cut would be calamitous for middle earners, a leading investment company has warned. Halving the reliefs would lead to a mass exodus of middle-income earners from retirement schemes, Standard Life warned. The pensions provider said reducing tax relief will mean it costs higher-rate taxpayers […]

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Pensioners are biggest losers as ‘fair’ Budget sees them out of pocket

12th December 2018

For all his promises to “promote fairness” in his 2019 Budget, Finance Minister Paschal Donohoe’s measures will see some sections of society falling further behind, with pensioners the largest single group to see their position eroded, according to a new study. The Economic and Social Research Institute assessed the impact of the budget changes compared […]

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Russia banks big users of Irish debt vehicles

12th December 2018

Russian banks are among the heaviest users of Irish special-purpose entities (SPE), a class of unregulated structure used to raise funds. Securitisations – which bundle masses of mortgages, car loans, consumer or business loans into structures that can be borrowed against by banks and others – have become relatively well known since the financial crisis. […]

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Confidence drops over retirement provision

11th December 2018

Almost one in two people are concerned that they are financially unprepared for retirement, according to a savings and investment index from the Bank of Ireland and the Economic and Social Research Institute. The Retirement Optimism reading dropped sharply to 99 in November from 105 in September. It is part of an overall Savings and […]

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Confidence drops over retirement provision

11th December 2018

Almost one in two people are concerned that they are financially unprepared for retirement, according to a savings and investment index from the Bank of Ireland and the Economic and Social Research Institute. The Retirement Optimism reading dropped sharply to 99 in November from 105 in September. It is part of an overall Savings and […]

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Irish firms struggle with digital transformation to meet customer demands – new index

11th December 2018

A quarter of Irish businesses will struggle in terms of digital transformation in meeting evolving customer demands within five years, a newly launched index has shown. Dell Technologies Digital Transformation Index (the DT Index), completed in collaboration with Intel, benchmarks 4,600 businesses across 42 countries across the globe. The study revealed that an overwhelming majority […]

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Irish firms struggle with digital transformation to meet customer demands – new index

11th December 2018

A quarter of Irish businesses will struggle in terms of digital transformation in meeting evolving customer demands within five years, a newly launched index has shown. Dell Technologies Digital Transformation Index (the DT Index), completed in collaboration with Intel, benchmarks 4,600 businesses across 42 countries across the globe. The study revealed that an overwhelming majority […]

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