Author: Practicenet

Misery index fails to convey dangerous public cynicism

WHATEVER happened to the misery index? Once upon a time a combination of inflation, unemployment and growth seemed to provide a reliable indicator of a government’s popularity. Not any more, it would seem. The Irish misery index must be near all-time lows but the Government is floundering, both in the polls and in its activities. […]

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Origin Enterprises buys assets of UK company for €21m

Irish agri group Origin Enterprises has acquired assets from UK-based Bunn Fertiliser in a deal expected to cost around £18.2m (€21m). Bunn is a provider of prescription fertiliser and nutrition-management systems to the farming sector. The company recorded turnover of £127m last year, but its earnings before interest and tax were just £2.8m. Origin said […]

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Grafton keen to expand after sales hit £2.5bn

Builders merchanting group Grafton has ditched its outlets in Poland but remains interested in expanding its geographic footprint in Europe, according to chief executive Gavin Slark. The group is also opening three more ‘Chadwicks Express’ outlets in Ireland this year, a move designed to take advantage of the gradual increase in housebuilding around the capital. […]

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Permanent TSB to look at selling off customer mortgages that are in deep arrears

State owned Permanent TSB said it will look at potentially selling off customer mortgages that are in deep arrears during 2017. At the end of 2016 PTSB had soured loans of €5.9bn including mortgages in arrears, the bank said today. Around 65pc of those problem home loan customers have agreed a debt restructuring deal with […]

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Dip in confidence as consumers worry about risks to recovery

Consumer confidence in Ireland dropped slightly in February but remains broadly positive, according to a new survey. The latest KBC Bank Ireland/ESRI Consumer Sentiment survey found that although the country faces a number of external uncertainties, fears of a downturn have not yet translated into reality for Irish consumers. The index declined to 100.7 in […]

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Ardagh fires starting gun on potential $373m stock market listing

Ardagh Group has fired the formal starting gun on an up to $373m (€352m) stock market listing in New York. In a statement last night, the Irish-founded global packaging giant said it had begun its initial public offering (IPO) in New York. Papers filed with the New York Stock Exchange show the glass and metal […]

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Shutdown: Blow for rural Ireland as post offices and banks set to shut

Rural towns and villages are set for a massive blow as large-scale closures of post offices and bank branches are on the cards. A report for the Government on the future of post offices has recommended the closure of 80 post offices, mainly in rural areas. Meanwhile, Ulster Bank is planning to shut down up […]

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Theresa May is ‘bad for business’, says Ibec

Theresa May is a “damned bad” prime minister for business because she’s taking her country out of the single market and turning talent away from the UK, Ibec director general Danny Mc Coy has said. This, however, could provide a competitive advantage to Ireland, he added. Ms May, pictured, has also warned the European Union […]

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AIB races ahead in mortgage market as BoI and smaller lenders lose out

State-owned AIB has increased its share of the mortgage market at the expense of rivals Bank of Ireland, KBC and Permanent TSB. The lender is gaining from having some of the lowest variable rates, and by having the Haven broker channel. The bank, which is due to sell a chunk of its shares in the […]

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Central Bank aiming to clamp down on use of CFDs

The Central Bank is taking measures to protect investors who are involved with ‘Contracts for Difference (CFDs). The Bank has published a new consultation paper that discusses its concerns about the use of CFDs and outlines current measures under consideration that would protect the interests of retail clients. CFDs are complex, leveraged, derivative instruments which […]

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