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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. The bank had consistently ruled out any loan book sales – until CEO Francesca McDonagh switched her stance last July. At the time she said that […]

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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. Called Future Jobs Ireland, the aim is to prepare people and companies for coming technological changes and the move to a low-carbon economy. The Department of Business, Enterprise and Innovation says the policy is needed to ensure there […]

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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. Known as non-household buyers, they now make up 22pc of purchases for newly built homes, up from 7pc in 2010. The latest housing monitor from the Irish Banking and Payments Federation 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. The bolder-than-expected move showed ECB was having to revisit plans to dial back its […]

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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. Grant Thornton International’s latest Women in Business report ranks Ireland eighth out of 35 […]

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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. Expressing its concern about the amendments to the bill, the Irish Duty Free Alliance (IDFA) said the changes […]

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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. The BIS is the central bankers’ central bank and provides policy advice as well as acting as a forum for […]

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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. That compares with €217m a year ago and a forecast of a rise in the surplus to €325m by Cantor Fitzgerald. The Department of Finance said that there was an increase in non-voted current spending, […]

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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. Unemployment had stood at 5.8% in February 2018. The CSO said the seasonally adjusted number of people who were unemployed stood at 135,100 in February, down from 136,800 in […]

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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. Unemployment had stood at 5.8% in February 2018. The CSO said the seasonally adjusted number of people who were unemployed stood at 135,100 in February, down from 136,800 in […]

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