Business News

BOI prepares sale of up to €800m in bad loans

Bank of Ireland is planning to sell up to €800m worth of non-performing loans this year as it moves to bring its balance sheet in line with European norms.

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Govt publishes strategy for future needs of business

The Government is publishing details of a new approach to the future needs of businesses and workers.

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Workers priced out of housing market by cash-rich investors

First-time buyers are facing stiff competition from housing associations, investment firms and State bodies when trying to buy homes, a new report says.

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Bolder than expected: ECB pushes out rate hike and showers banks with yet more cash

The European Central Bank pushed out the timing of its first post-crisis rate hike until 2020 at the earliest and offered banks new rounds of multi-year loans in a bid to revive the currency bloc’s slowing economy, it said on Thursday.

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More women holding top roles in Ireland – but gender balance action ‘must not be rushed’

More women are holding senior management roles in Ireland but, while gender balance at the top level is still a way off, the strategy to address the issue must not be rushed according to the head of Grant Thornton in Ireland.

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Modest pick up in mortgage approvals in January

The number of mortgages approved by banks here fell by 3.4% in the year to the end of January, new figures show.

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Group warns of impact of Brexit legislation on duty free sales

An organisation representing those involved in sales of duty free here has warned Government changes to draft laws designed to prepare the country for a no-deal Brexit will prevent the sale of such products at Irish airports.

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Central bankers’ bank warns of danger of bonds to markets

A SURGE in the supply of corporate debt in the riskiest investment-grade category may leave markets vulnerable to a rout if economic weakness triggers bouts of rating downgrades, according to the Bank for International Settlements.

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EU budget contributions rise hits Exchequer surplus

The Exchequer surplus for February came in lower than expected at €139m, according to Department of Finance data issued yesterday.

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Unemployment rate falls to 5.6% in February – CSO

New figures from the Central Statistics Office show that the rate of unemployment fell to 5.6% in February, from the revised rate of 5.7% in January.

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