Business News

New rules may make switching mortgages easier

12th April 2017

The Central Bank said it was considering imposing new rules on banks to make it easier for mortgage-holders to switch to another lender to reduce the cost of their repayments. The regulator said research it commissioned found that just 4pc of borrowers had moved their mortgage to a new lender. Now the Central Bank is […]

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Providence reports €20.5m loss as exploration firm looks to new oil prospects

12th April 2017

Providence Resources has announced losses of €20.5m for 2016 while operating losses for the period were €18.8m, an increase of €5.7m from 2015. In June, the oil exploration company raised $70m in a share sale in an effort to reduce the company’s debt. The company had no net debt at the end of 2016; in […]

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Record level of data privacy complaints made to Data Protection Commissioner

11th April 2017

There has been a record number of data privacy complaints in Ireland over the last year, new figures from the Office of the Data Protection Commissioner show. The regulator reported a spike in overall complaints last year to a record level of 1,479, rising from 932 in 2015. However, it also received almost 35,000 “queries”, […]

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€500,000 pay cap could be waived for new BoI boss

11th April 2017

FINANCE Minister Michael Noonan has indicated that he won’t block Bank of Ireland offering more than the €500,000-a-year pay cap to attract a replacement for outgoing CEO Richie Boucher. The pay cap was brought in after the crash and has not been relaxed, even at Bank of Ireland which has repaid its State bailout. It […]

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No EU country has claimed on €13bn Apple tax – Noonan

11th April 2017

No European country has made a claim on the back taxes that Apple allegedly owes to Ireland, Finance Minister Michael Noonan has said. Mr Noonan has argued that Ireland’s entitlement to the money, in the face of potentially competing claims from other EU countries, remains uncertain. The European Commission announced in August last year that […]

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Economy a ‘miracle’ despite Trump and Brexit threat, says Central Bank

7th April 2017

The Central Bank has revised up its growth forecasts on the back of strong domestic demand despite citing the twin threats of Brexit and the potential economic policies of US President Donald Trump. Chief economist Gabriel Fagan lauded the economy’s performance and said it had all the hallmarks of the ‘Phoenix Miracle’ – the theory […]

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Publican Gleeson wins court fight to block his dismissal

7th April 2017

High-profile publican Frank Gleeson has secured a temporary High Court injunction preventing the company he is CEO of from taking steps to dismiss him. Mr Justice Paul Gilligan granted Mr Gleeson an interim injunction yesterday preventing Dublin pub group Mercantile Entertainment from dismissing him. The order also prevents Mercantile taking any steps to discipline Mr […]

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IDA chief: ‘Housing crisis isn’t hurting our Brexit bid’

7th April 2017

The impact of the housing crisis on the drive to attract foreign direct investment into Ireland and into Dublin, particularly in the wake of Brexit, is the subject of increasing concern among developers involved in the delivery of new office space. The issue took centre stage last Friday at the annual conference of the Society […]

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We are on road to ruin unless we increase infrastructure investment without delay

6th April 2017

Ireland is going to change dramatically over the next 10 to 15 years and we are not preparing for it properly. I am not talking about Brexit or the future of the single currency. Neither am I talking about the impact Donald Trump’s US presidency might have on corporations and how they are taxed. The […]

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Standard Life considering Ireland as possible EU base

6th April 2017

Standard Life is considering increasing the size of its Dublin operation as a result of Brexit. The company is considering Dublin as one of a number of possible destinations for the its EU base after Brexit negotiations are concluded, according to a report in The Irish Times. That would require the company-which currently employs around […]

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