Business News

The impact of artificial intelligence (AI) on employment came into sharp focus this week. On Tuesday, Minister of State with responsibility for AI Niamh Smyth, told the Oireachtas Committee on Artificial Intelligence that there will be a certain amount of job displacement because of AI. Also this week, the latest ‘Employment Monitor’ from recruitment firm […]

More than 2,100 pubs across the country have closed since 2005, according to a new report. The study, commissioned by the Drinks Industry Group of Ireland (DIGI), found that an average of 112 pubs stopped trading every year over the last 20 years. DIGI said the report concluded the number of pubs in Ireland is […]

There’s no doubt US President Donald Trump’s threat of 30% tariffs is a significant blow to both the European Union and Ireland. Earlier this week, Taoiseach Micheál Martin expressed hopes that Brussels and Washington could agree a framework deal which would pause any escalation in trade tensions. But Mr Trump’s letter to the EU, dated […]

There will be continued strong growth in the real economy between this year and 2027, according to forecasts by Davy, despite global uncertainty. At the same time, though, the stockbroker has downgraded its forecast for housing completions this year. Ireland’s gross national income – a measure which excludes multinational activity – expanded by 4.8% last […]

Bitcoin rallied to an all-time high today, powered by demand from institutional investors and crypto-friendly policies from US President Donald Trump’s administration. The world’s largest cryptocurrency rose to a peak of $116,781.10 in the Asian session on Friday, taking its gains for the year so far to more than 24%. It was last trading at […]

Credit and debit card spending rose by 5.7% in June compared to the same month last year, according to new figures from Bank of Ireland. The bank said the data shows consumer spending remained robust last month and “well ahead” of the rate of inflation of 1.8%. The figure is down from the 6.5% year-on-year […]

Irish mortgage interest rates fell to their lowest rate in over two years in May, according to new figures from the Central Bank. The average rate for the month was 3.66% on new mortgages, which was down slightly on the April rate of 3.72%, and over half a percentage point lower than for May 2024 […]

Markets are “shaken but definitely not stirred” by the latest US tariff threats, according to financial analysit Danni Hewson. On Tuesday the White House confirmed that the high tariffs on imports from most countries – which were due to come into effect on 9 July – would be delayed until 1 August. That was to […]

The European Union is working closely with US President Donald Trump’s administration to reach a trade deal, but Brussels is getting ready for all scenarios, European Commission President Ursula von der Leyen has said. Addressing the European Parliament this morning, she said the EU will “stick to our principles.” “We defend our interests, we continue […]