Author: Practicenet

Ireland is likely to suffer an economic hit from Brexit, the National Treasury Management Agency (NTMA) has warned. In a presentation aimed at investors in the bond markets, who lend to the State, the agency that manages the country’s debt said Irish banks can expect to suffer because of their operations in Britain. Read more: […]

JPMorgan Chase and Co has warned that it may have to move a few thousand of its London-based staff to other eurozone offices as a result of Brexit. In an interview with Italian newspaper Il Sole-24 Ore, the bank’s boss Jamie Dimon said he is still unsure what is going to happen but maintains the […]

American multinationals are “deeply concerned” about the personal tax burden in Ireland, according to the American Chamber of Commerce Ireland. The Chamber said reform would make Ireland a more attractive location for talented workers. The call comes as Ireland faces increased competition for foreign direct investment with UK chancellor George Osborne announcing plans to slash […]

Irish oil and gas explorer Tullow Oil is looking to raise $300m via issuing convertible bonds. The money would be used for “for general corporate purposes and to fund capital investment in the Group’s assets in West and East Africa,” Tullow told the market this morning. The bonds carry a coupon of 6.625pc, Tullow said, […]

Consumer sentiment hit a four-month high in June, just ahead of the British vote to leave the European Union. The Brexit vote Brexit is likely to hit sentiment in the coming months but unlikely to prompt a collapse, according to the authors of the KBC Bank Ireland/ESRI consumer sentiment index. This country having more to […]

The Department of Finance has warned that Vat receipts could drop in the wake of the Brexit vote, claiming plunging sterling may lure shoppers to the North instead. The admission Brexit will hit our tax take came as it was confirmed the takings for the first half of the year were €742m better than expected. […]

Latest figures released by the Central Statistics Office (CSO) show that unemployment remained static in the month of June. The figures reveal that the nationwide rate of unemployment still stands at 7.8pc, the same as the figure recorded for May of this year. However unemployment has contracted by 1.6pc compared to June 2015. There is […]

Sterling plunged to new lows against both the dollar and the euro on Tuesday as the UK’s decision to leave the European Union continues to batter investor confidence in the country. The move came as the Bank of England announced moves to help boost lending by up to £150bn (€177bn) as it warned over a […]

The Irish Government would consider making an attempt to house the European Banking Authority (EBA) in the event of its relocation from London but as yet there is no specific plan in place, the Irish Independent understands. Finance Minister Michael Noonan has said the Government is committed to maximising any opportunities that might arise out […]

A post-Brexit recovery across European markets stalled on Monday with major share indexes mixed while safe-haven demand for precious metals helped the price of silver surge to a near-two year high. Light trading volumes ahead of a public holiday in the United States is likely to keep markets choppy through the day. Europe’s Stoxx 600 […]