News

Four of the five main Irish retail banks have notified the competitor regulator of plans for an app based payment system that would enable consumers to move money between each other with ease. If developed, the system would allow bank customers to transfer funds in much the same way as users of fintech services like […]

The construction industry finished 2020 in expansion mode on the back of strong levels of housebuilding, the latest Ulster Bank’s Construction Purchasing Managers Index shows. The Ulster Bank construction PMI posted a reading of 52.3 in December, down from 53.5 in November but above the 50 no-change mark for the second month in a row […]

New figures from Revolut shows that total consumer spending in December 2020 rose by 6% from December 2019, with many sectors seeing record levels of expenditure.  Digital banking app Revolut said its research showed that consumers returned to the shops in force for a Christmas shopping spree, with the December reopening of non-essential retailers seeing […]

This week, as Brexit took effect, a company in Cork that sells sports posters to Europe and around the world ceased all direct online sales to the UK. “There’s no point having the hassle,” said Wayne Mullins, a graphic designer who runs Kobe Designs. “I’ll just not send to the UK. I’ll keep selling to the […]

Non-essential construction is to cease this evening until at least the end of the month, as part of restrictions introduced on Wednesday to slow the spread of the third wave of Covid-19.  Essential construction projects that will be exempt from this include health projects specific to Covid-19, housing adaptation grants, repairs critical to maintenance for […]

Covid-19 continues to be the predominant issue in all our lives. It also continues to be the predominant factor shaping our economy. And because it’s the Irish economy, it continues to be unpredictable and surprising.   Economists at the Department of Finance have been analysing different aspects of our Covid economy.   Its latest Economic […]

It wasn’t supposed to be like this.  When Irish businesses did what was asked of them and substantially shut up shop in mid-October it was in pursuit of a single aim.   They thought a second (and perhaps final) lockdown would allow them to open in time for Christmas, make the most of the festive […]

The Government is engaging with the banking sector to ensure borrowers who need loan repayment breaks as a result of the further increase in Covid-19 Level 5 restrictions get them. Speaking this evening the Tánaiste, Leo Varadkar, said the Government wants to ensure that banks “provide additional payment breaks to mortgage holders and people who […]

New figures from the Central Statistics Office show that the Covid-19 adjusted unemployment rate stood at 20.4% in December as the Covid-19 crisis continues to have a significant impact on the labour market.  This figure includes people who are receiving the Pandemic Unemployment Payment and is down from 21% in November. The CSO said the […]