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Gas Networks Ireland reduces carbon footprint by 27pc

Gas Networks Ireland has reduced its carbon footprint by 27pc over the past ten years, according to the company’s 2019 Sustainability Report released today. The networks operator plans to reduce its carbon emissions further going forward, both within its own operations and from decarbonising the gas transported through the network. It also has a 99pc […]

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Large number of firms risk collapse under second lockdown

Nearly two-thirds of businesses fear another lockdown, while one in five is trading at a loss, a CSO survey has found. KBC Ireland economist Austin Hughes said the figures showed that most firms have proved surprisingly resilient – but a large minority would risk collapse if a Covid-19 surge forced a second lockdown. The survey, […]

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Draghi says stimulus can aid recovery after Covid but warns on ‘bad’ debt

Former European Central Bank (ECB) president Mario Draghi has warned governments to use the massive stimulus they’ve deployed in the coronavirus pandemic to upgrade their economies or face the risk of another debt crisis. In his first high-profile appearance since leaving his post in October, Mr Draghi called for “credible” economic policies to avoid disillusionment […]

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Euro area sheds almost half of jobs created since 2013

The coronavirus pandemic has wiped out nearly half of the 12 million euro-area jobs created in the seven years since the last recession, in another sign of the enormous damage wreaked on the economy. Employment slumped by 4.9 million in first half of the year, almost all in the second quarter when the most stringent […]

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Property prices rise again in June despite pandemic

Property prices rose marginally in the year to June despite the pandemic causing massive disruption to the housing market. Prices were up by just 0.1pc in June when compared with the same month last year. House building has been heavily set back by the virus, with estate agents reporting a fall off in viewing activity. […]

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Changing to four-day week will save jobs, says German union chief

The head of Germany’s largest trade union has proposed a four-day week to protect jobs threatened by digitalisation and the coronavirus-induced economic slump. Jorg Hofmann, head of IG Metall, said he planned to negotiate the reduced working hours for his members in wage talks with major players in the German automotive and mechanical parts sectors. […]

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Alaskan model may help restart the aviation industry

The aviation industry is staring into a winter of devastation but the answer could lie in colder climes. An Alaska-style safe travel model could be utilised, amid warnings Irish airports desperately need support measures for the crippled aviation sector. Traffic has collapsed by 97pc at Dublin, Cork, Shannon and Ireland West-Knock airports since the pandemic […]

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Protecting our vulnerable startups and SMEs is now more vital than ever

There is a popular trope in the narrative surrounding the origins of a successful enterprise, usually centring around working from a back bedroom, the kitchen table or from the garden shed. But the truth about successful start-ups and SMEs is usually a lot more prosaic. On top of a great idea and business plan, there […]

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Staycations and bad weather helped to boost demand for gas

Staycations and the reopening of hospitality and leisure venues have spurred gas demand to near normal levels. But while overall gas demand climbed 4.1pc in July compared to June, it remains 3.7pc lower than a year ago, according to Gas Networks Ireland. Gas demand in the hospitality and leisure sector was just 1pc below where […]

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Lack of funding for Irish startups worries investors

Senior venture capitalists have described as “worrying” the lack of money coming through for new Irish startups. While the overall amount raised on both parts of the island reached €545m for the first six months of 2020 – the highest for four years -the figures were skewed by a handful of giant deals, leaving early-stage […]

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