Business News

Central Bank announces consumer and investor protection priorities for 2020

17th January 2020

The Central Bank has said that the protection of borrowers in mortgage arrears will continue to be a key priority for it during 2020. Derville Rowland, Director General, Financial Conduct at the Central Bank, said the bank will closely monitor the treatment of borrowers in arrears and take follow-up supervisory actions as required.  “As part […]

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Dow, S&P 500 at record highs after US-China trade deal

17th January 2020

The Dow Jones and S&P 500 rose to record highs on Wall Street last night following a volatile session marked the signing of the long-awaited US-China trade agreement.  The Dow Jones gained 0.3% to finish at 29,030 and the broad-based S&P 500 added 0.2% to 3,289. Analysts said the choppy trading session reflected worries about […]

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State may exit US currency blacklist

16th January 2020

The United States may remove Ireland from its list of potential currency manipulators next year after the State’s current account surplus turned to a deficit in 2019. The US Department of the Treasury updated its guidance this week. While the main decision was to remove China from the blacklist, the State was also among those […]

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Residential property prices rise by 1.4% in November

16th January 2020

Residential property prices posted annual growth of 1.4% in November, the fastest growth in three months, new figures from the Central Statistics Office show. The increase of 1.4% in November is down sharply from growth of 7.2% a year ago, the CSO said. House prices have stabilised over the last year having shot up for […]

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UK inflation hits more than three-year low, raising pressure on Bank of England

16th January 2020

UK inflation sank unexpectedly to a more than three-year low in December as hotels slashed prices, ramping up expectations that the Bank of England will cut interest rates as soon as this month.  Consumer prices rose by 1.3% in annual terms compared with 1.5% in November, the smallest increase since November 2016, the Office for […]

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UK consumers banned from using credit cards to gamble

15th January 2020

Gamblers in the UK will no longer be able to use their credit cards to place bets online after a major shake-up of rules announced by the industry regulator. From 14 April, people wanting to place bets online will have to do so by using either a debit card or through cash deposited into an […]

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China trade surplus with US dropped 8.5% to $296 billion

15th January 2020

China’s trade surplus with the US narrowed last year as the world’s two biggest economies exchanged punitive tariffs in a bruising trade war, new data show today. The figures come as the two countries prepare to sign a deal dialling down tensions.   The huge difference in trade traffic is a key bone of contention […]

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Used car sales reach highest ever level in 2019 – CSO

15th January 2020

New figures from the Central Statistics Office show the number of new cars licensed for the first time fell by 6.5% in 2019, while the number of used car sales rose by 9.5% to reach its highest ever level. The CSO said that a total of 113,305 new private cars were licensed for the first […]

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USC threshold increasing due to rise in minimum wage

14th January 2020

The threshold for USC is to be raised to allow for a previously announced increase in the minimum wage. This will benefit all taxpayers as well as ensuring those on the minimum wage will continue to pay USC at a maximum rate of 2%.  Last month the government announced it had decided to raise the minimum […]

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December grocery sales pass €1 billion for first time

14th January 2020

The grocery market hit a new milestone over the Christmas weeks, as sales in December passed the €1 billion for the first time ever. The latest figures from Kantar show that although sales growth slowed in the 12 weeks to 29 December, the grocery market weathered difficult trading conditions to increase overall sales by 1.5% […]

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