Business News

Oil hovered near a three-year high of $70 a barrel yesterday on signs that production cuts by Opec and Russia are tightening supplies, but analysts warned of “red flags” due to surging US production. International benchmark Brent crude futures were trading 3 cents lower at $69.84 by mid-afternoon, having risen above $70 earlier in the […]

More than half of Irish consumers are continuing to save for a rainy day. The Bank of Ireland Savings and Investment Index published today shows that 53pc of consumers in Ireland were saving regularly during December. But there are signs that households are less keen on the savings environment, indicating they might feel they are […]

Just over 2,200 new social houses were built by local authorities last year, less than forecast by the Department of Housing. But the Government has insisted that it has exceeded its target to provide homes to people on council waiting lists – last year, some 25,892 homes or tenancies were supported by the State, 23pc […]

The average Irish household spent €1,532 on groceries in the weeks before Christmas, according to figures from research group Kantar Worldpanel this morning. That’s €38 more than they forked out last year on festive food. In the 12 weeks to December 31, the latest figures from Kantar Worldpanel show that shoppers in Ireland spent an […]

A RADICAL shake-up will mean banks will no longer have a monopoly on customer account information. The overhaul of banking comes on foot of a European Union directive and takes effect from tomorrow. Banks will have to facilitate other firms that have been given permission by a customer to access account information. The Second Payment […]

Small businesses are being urged to pitch for up to €50,000 in grant aid from Enterprise Ireland in a new funding round. The state agency’s first Competitive Start Fund (CSF) of the year will allocate up to €50,000 to 15 successful applicants in exchange for a 10pc equity share in the firm getting the taxpayer […]

There has been no let-up in the rise in property prices. New figures from the Central Statistics Office show that prices rose 11.6pc ­nationally in the year to November. Dublin prices were up 11.3pc. For the month of November alone, prices grew by 1.1pc, a slight easing off in the rate of increase from the […]

Advertisers can expect Amazon to challenge the Google-Facebook duopoly this year and see tasks become more automated. In a report on search marketing trends for 2018, Shane Lyons , head of search and analytics at Mediaworks, says artificial intelligence (AI) has moved on to the extent that manual bids on keywords have given way to […]

Fraudsters making false car insurance claims are getting away with it because they are not being prosecuted, a leading judicial figure said. Former High Court president Nicholas Kearns warned Ireland has a huge problem with fraudulent motor claims, and there appeared to be no punishment for lying in court. Meanwhile, insurers have been accused of […]

Britain’s Prime Minister Theresa May and senior officials will meet executives from major finance companies today to give them a clearer idea of what Britain’s European Union exit will mean for them. There are concerns that Brexit threatens London’s status as the financial capital of Europe and that banks are preparing to move thousands of […]