EU fines five major banks for currency collusion The European Commission has today fined Barclays, Citigroup, JP Morgan, Japan’s MUFG and Royal Bank of Scotland a combined €1.07 billion for rigging the multi-trillion dollar foreign exchange market. Banks have been hit with billions of dollars in fines worldwide over the last decade for the rigging […]
Author: Practicenet
New home completions up by 23% in first quarter – CSO The number of new homes built in the first quarter of this year rose by 23.2%, the latest figures from the Central Statistics Office show. The CSO said a total of 4,275 new dwellings were finished in the first three months of the year, […]
Mild weather so far this year boosts Irish retailers A new report shows that the value of retail sales rose by 4.7% in the first quarter of the year, boosted by a mild winter and early spring weather. The Retail Monitor, from Retail Ireland – the Ibec group that represents the sector – said there […]
World Bank’s €1.5 billion sustainable bond to be listed on Euronext Dublin The World Bank has raised €1.5 billion from a 10-year Global Sustainable Development Bond, which will be listed on the Euronext Dublin exchange. It will also be listed on the Luxemburg Stock Exchange. The funds were raised from institutional investors around the globe […]
Fee increases will be critical for Irish banks – S&P Increasing fees and commissions will be critical for Irish banks in the coming years, in order to offset pressure on the difference between the amount of interest they earn versus what they pay out to those lending them money. That’s according to ratings agency S&P […]
Euro zone economy accelerates in Q1 as Germany rebounds The euro zone economy accelerated quarter-on-quarter in the first three months of the year, the EU’s statistics office confirmed today. This was thanks to a rebound in the biggest economy Germany and the end of a technical recession in Italy. Eurostat said the economy of the […]
Almost €4.5m stolen in invoice redirect fraud this year Almost €4.5m has been stolen in invoice redirect frauds since the start of the year, according to gardaí. More than €2m has been stolen in the last month alone, they sad. Under the fraud criminals send emails to businesses purporting to be one of their legitimate […]
Trade war escalation puts Europe’s shaky economy back on alert The US and China are taking another swing at global sentiment, which is bad news for Europe as the economy starts to find its feet after a torrid year. In a week that was supposed to bring progress in trade talks, President Donald Trump boosted […]
Construction activity growth quickens in April despite Brexit concerns Construction activity rose sharply last month with April marking the 68th consecutive month of stronger construction activity in Ireland. The Ulster Bank Construction Purchasing Managers’ Index – which tracks changes in total construction activity – rose to 56.6 in April up from 55.9 in March. Ulster […]
Revenue collected 26% more corporation tax last year The amount of corporation tax collected by the state last year increased by 26% to €10.4 billion, according to the Revenue Commissioners’ annual report. The increase was driven by higher payments from manufacturing companies and increased payments from big multinational companies. The report also shows that the […]
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