Business News

European new car sales down 78.3% in April

19th May 2020

European passenger car sales slumped in April as the first full month with restrictions imposed to contain the coronavirus pandemic across the continent dragged sales to a record drop, data showed today.  In April, new car registrations dropped by 78.3% to 292,182 vehicles in the European Union, Britain and the European Free Trade Association countries. This […]

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European new car sales down 78.3% in April

19th May 2020

European passenger car sales slumped in April as the first full month with restrictions imposed to contain the coronavirus pandemic across the continent dragged sales to a record drop, data showed today.  In April, new car registrations dropped by 78.3% to 292,182 vehicles in the European Union, Britain and the European Free Trade Association countries. This […]

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NAMA paid €5.65m in legal fees last year

15th May 2020

Dublin-based legal firm McCann Fitzgerald last year received €1.54m in legal fees from the National Asset Management Agency. That is according to new figures provided by the Minister for Finance Paschal Donohoe in a written Dáil reply to Solidarity-People Before Profit TD Richard Boyd Barrett. In the figures provided by Mr Donohoe, NAMA last year […]

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35% of consumers shop online on a weekly basis – BPFI

15th May 2020

31% of consumers are more likely to continue shopping online for clothes, toys and electronic goods after Covid-19 restrictions have been lifted, a survey conducted by Banking & Payment Federation Ireland shows. But one in five of those consumers who have shopped online for groceries, hardware and DIY or newspapers and magazines are less likely […]

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Call for increased retail supports ahead of reopening

15th May 2020

The Chief Executive of Retail Excellence Ireland has called for increased government support for the sector, as up to 1,800 shops look to reopen next Monday. Speaking on RTÉ’s Morning Ireland, David Fitzsimons said that only 70% of staff are expected to return to work in the coming months, with his organisation predicting job losses […]

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Banks predict biggest ever fall in demand for loans due to Covid-19

14th May 2020

Irish banks expect the “biggest ever decrease” in the demand for mortgages and consumer loans as a result of the impact of the Covid-19 pandemic.  That is one of the results from analysis of the quarterly Bank Lending Survey published by the Central Bank today.  The Central Bank said the fall in demand will be […]

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US Fed chair warns of ‘extended period’ of weak growth, calls for additional fiscal spending

14th May 2020

In a sober review of where the US economy stands on the cusp of its reopening, US Federal Reserve chair Jerome Powell has warned of an “extended period” of weak growth and stagnant incomes, pledged to use more of the central bank’s power as needed, and issued a call for additional fiscal spending. “It will take […]

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Residential property prices up 1% in March, before Covid-19 impact

14th May 2020

New figures from the Central Statistics Office show that residential property prices increased by 1% nationally in the year to March.  The CSO said this compares with an increase of 1% in the year to February and an increase of 3.8% the same time last year. Today’s figures lag a coronavirus-related collapse in housing transactions. […]

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Online retailers saw 60% rise in traffic last week

13th May 2020

There was a dramatic increase in traffic for online retailers compared to pre-Covid levels in the last week, as stores remained shut and consumers enjoyed some retail therapy online. New data compiled by digital agency Wolfgang Digital found that between May 4 and 10, internet traffic rose by 60%, and online revenues were up 162%. […]

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“Very likely” IMF will cut growth forecasts further

13th May 2020

International Monetary Fund Managing Director Kristalina Georgieva said it was “very likely” the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously projected. “Incoming data from many countries is worse than our already pessimistic projections,” Georgieva said during a webcast conference sponsored by the Financial Times. […]

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