Business News

Consumer economy collapses in April due to Covid-19

21st May 2020

Disposable income was down by as much as 25% in April, despite the implementation of wage supports and enhanced welfare arrangements for workers impacted by Covid-19. This is according to the latest Consumer Market Monitor from the Marketing Institute and the UCD Smurfit Graduate Business School. Consumer sentiment dipped to its lowest level since 2012 […]

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EU Commission recommends Ireland broaden its tax bases

21st May 2020

The European Commission is recommending that Ireland takes all necessary measures to effectively address the Covid-19 pandemic, sustain the economy and support the recovery that follows. It also says the tax base here should be broadened over this year and next. “The challenges facing Ireland in regard to poverty and employment quality and support, including […]

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Ireland could run €30bn deficit this year, Donohoe tells Dáil

21st May 2020

Minister for Finance Paschal Donohoe has said that there is a possibility that Ireland will run a deficit of €30 billion this year. “We expect public debt to increase significantly this year,” the Minister said. Speaking in the Dáil, Paschal Donohoe said the deficit can be financed at low interest rates at the moment but he said sentiment […]

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Number of people on Pandemic Unemployment Payment dips

20th May 2020

The number of people receiving the Covid-19 Pandemic Unemployment Payment has fallen slightly by 5,000 to 584,600 over the last week, new figures show.  Of those, 7,000 are receiving the €350 weekly payment for the first time.   A further 214,700 people were receiving Jobseekers’ Benefit of €203 a week at the end of April.  […]

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Labour Court to begin virtual case hearings from 2 June

20th May 2020

The Labour Court is to convene virtual case hearings for the first time from 2 June in order to comply with public health guidelines on the coronavirus. The majority of currently scheduled hearings involve industrial relations matters and will be heard in private. However, in a statement, the Labour Court says it is satisfied that […]

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76% of businesses still trading despite Covid-19 – CSO

20th May 2020

The Central Statistics Office has found that a majority of companies have continued to trade through the Covid-19 pandemic.   In the second of the CSO’s new Covid-19 business surveys, conducted in the week beginning May 3, 76% of companies which responded said they were continuing to trade.  But 23.9% indicated they had ceased trading […]

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France and Germany to propose €500bn EU recovery fund

19th May 2020

France and Germany have agreed to propose creating a €500 billion Recovery Fund that would offer grants to European member states and regions hit hardest by the coronavirus crisis. In what French President Emmanuel Macron said was a “major step forward”, the two countries said they were also proposing to allow the European Commission to […]

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France and Germany to propose €500bn EU recovery fund

19th May 2020

France and Germany have agreed to propose creating a €500 billion Recovery Fund that would offer grants to European member states and regions hit hardest by the coronavirus crisis. In what French President Emmanuel Macron said was a “major step forward”, the two countries said they were also proposing to allow the European Commission to […]

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Euro zone economy won’t hit pre-crisis level until 2021 at earliest – Lane

19th May 2020

The coronavirus-hit euro zone economy probably will not return to its pre-pandemic levels until next year at the earliest, the European Central Bank’s chief economist said today. But Philip Lane said that the ECB was prepared to tweak its tools if needed.   “From today’s perspective, it looks in any case unlikely that economic activity […]

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Euro zone economy won’t hit pre-crisis level until 2021 at earliest – Lane

19th May 2020

The coronavirus-hit euro zone economy probably will not return to its pre-pandemic levels until next year at the earliest, the European Central Bank’s chief economist said today. But Philip Lane said that the ECB was prepared to tweak its tools if needed.   “From today’s perspective, it looks in any case unlikely that economic activity […]

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