Business News

Sterling weakened today as traders worried about the obstacles keeping the European Union and Britain from reaching a Brexit trade deal.  The pound has risen in recent sessions, propelled by a sense that Britain and the EU, whose leaders are meeting today, will secure a trade deal by December 2020, when Britain’s transition period after […]

British Prime Minister Boris Johnson will today set out his position on the future of the Brexit negotiations. Last night, there was a firm message from EU leaders in Brussels that the UK had to compromise on the key outstanding issues if there was to be an agreement. The UK’s chief negotiator David Frost said […]

The supply of new homes here could reach the required 35,000 per annum within years, as a result of initiatives announced in Budget 2021, the Construction Industry Federation (CIF) says. It estimates that 9,000 homes could be built through the new affordability scheme announced by the Government yesterday. These would otherwise not have been constructed […]

As Donegal, Cavan and Monaghan move to Level 4 in the Living with Covid-19 framework, business owners, service providers and consumers will be wondering what is allowed to stay open and what must close. Here is a list of all the retailers that the Government has deemed “essential” and can remain open. 1.  Outlets selling food, beverages or newspapers on a […]

Taoiseach Micheál Martin will join other EU leaders in Brussels this afternoon for a two-day summit in which they will assess the prospects for a breakthrough in the Brexit negotiations. It will be the first time in nearly a year that EU leaders will have taken part in a detailed discussion about the future EU-UK relationship. […]

Jobs were always going to be centre stage in Budget 2021 – not just creating new ones, but clinging on desperately to the imperiled ones that already exist. The figures cited by Minister for Finance Paschal Donohoe in his budget speech were stark. The Government is forecasting a total loss of approximately 320,000 jobs in […]

The VAT rate for the hospitality and tourism sector will be cut from 13.5% to 9% with effect from November 1, Minister for Finance Paschal Donohoe has announced. He said he was making the VAT cut in recognition of the “unprecedented challenges” facing particular sectors of the economy. As part of the July Stimulus, the […]

European Union leaders meeting in Brussels tomorrow and on Friday to discuss Brexit will say that progress in talks with Britain is “still not sufficient” to seal a new trade deal, according to a draft summit decision seen by Reuters.  As the year-end deadline approaches to put in place a new relationship, the 27 national […]

Multinational corporations (MNCs) were already outpacing indigenous firms in Ireland before Covid made business conditions more difficult for the domestic sector. Sectors dominated by foreign-owned companies – such as IT and pharmaceuticals – grew by 6.9pc in 2019, while domestic sectors grew by 4.5pc, according to gross value added (GVA) figures from the Central Statistics […]

Multinational corporations (MNCs) were already outpacing indigenous firms in Ireland before Covid made business conditions more difficult for the domestic sector. Sectors dominated by foreign-owned companies – such as IT and pharmaceuticals – grew by 6.9pc in 2019, while domestic sectors grew by 4.5pc, according to gross value added (GVA) figures from the Central Statistics […]