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Surge in number of data breaches reported to Commission in 2018

The number of data breaches reported to the Data Protection Commission soared by 70% last year, as new data protection rules were introduced across Europe. In total, the watchdog was notified of 4,740 breaches during 2018, with 3,542 of those lodged in the seven months after the General Data Protection Regulation came into force in […]

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EU agrees measures to tighten oversight of foreign finance firms

European Union governments and lawmakers have reached agreement on tighter rules for asset managers and investment firms offering “bank-like” services, such as proprietary trading and underwriting of financial instruments. The agreement will give the European Commission more power in overseeing foreign financial firms operating in the EU, including more clout over London-based financial firms after […]

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Electric Ireland to increase electricity and gas prices by 4% from April

Electric Ireland customers have become the latest to feel the pain of price hikes after the largest provider in the State announced its intention to increase residential electricity and gas prices by 4 per cent from the beginning of April. It is the second price increase from Electric Ireland in just more than six months […]

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Permanent TSB’s 2018 profits jump 45% on increased market share

Permanent TSB has reported a 45% jump in pre-tax profits, before exceptionals, for 2018 as its total new lending volumes increased by over 40%. The bank said its pre-tax profits, before exceptionals, climbed to €94m, while its total new lending volumes amounted to €1.5 billion. It said its non-performing loans reduced by 68% from €5.3 […]

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Former Anglo Irish Bank shareholders invited to make submissions on pre-bailout shares

Former Anglo Irish Bank shareholders are being invited to contact a Government-appointed official who must determine whether their investment had any value when the bank was nationalised in January 2009. Given the scale of losses borne by taxpayers who carried the €30bn costs of bailing out Anglo Irish Bank there is no prospect of a […]

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Interest rates here to rise even though ECB won’t hike until 2022

Bank of Ireland doesn’t expect the ECB to raise interest rates until 2022, but reckons lending rates here are set to increase. Pricing of longer-term mortgage deals, of five years or more, are tipped to increase most, Bank of Ireland chief financial officer Andrew Keating said yesterday. The bank – along with its rivals in […]

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‘Market is nervous over Bank of Ireland Brexit exposure’

Bank of Ireland has a massive question mark hanging over it, and it won’t be answered for investors until we see how Brexit pans out. A shares plunge yesterday took the shine off some good news for shareholders in the shape of an increased dividend and confirmation that the bank finally managed to grow its […]

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Ibec calls for new SSIA-type savings scheme

Employers’ group Ibec has called for a new SSIA-type savings scheme to allow households benefiting from economic growth to save more. Chief executive Danny McCoy said the greater complexity of the Irish economy, in particular the more pronounced economic cycles, required fresh thinking and new policy responses. He said a revamped special savings incentive account […]

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Bank of Ireland shares fall as its pre-tax profits for 2018 drop

The chief executive of Bank of Ireland has said the bank is keeping all options on the table when it comes to reducing its non-performing loans level further. Francesca McDonagh said the bank is committed to lowering its non-performing loans and has improved its position over the past year by almost a quarter. She said […]

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5G is coming: what can we expect?

This year the telecoms industry will begin the transition to new fifth-generation mobile networks – known as 5G – which is expected to one day help run everything from self-driving cars to robot surgeons. The successor to the current 4G network technology introduced commercially in 2009 promises nearly instantaneous transfers of huge amounts of data […]

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