Oil prices fell about 2% today, extending the previous session’s almost 2% decline, as recession fears and a flare-up in Covid-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation…
Category Archives: News
The pound fell for a fifth day today as the turmoil engulfing UK government bond markets forced the Bank of England to step in yet again to attempt to stem a damaging sell-off in the country’s debt. Sterling fell 0.3% to $1.1036, and was also down 0.3% against the euro at 88 pence. The Bank…
The question of how, when and whether to cap gas prices is set to dominate another meeting of EU countries today, as they pursue a joint plan to target high gas prices. The EU is plotting its next move to tame soaring energy prices and shield consumers from surging bills, as Europe heads into a…
Oil prices steadied today, recovering from earlier losses, as investors weighed potentially tight supply against economic storm clouds that could foreshadow a global recession and erosion of fuel demand. Brent crude futures for December settlement fell by as much as 1.1% but recovered to being down 17 cents, or 0.2%, at $97.75 a barrel by…
Consumers are being urged to consider buying Irish-made crafts and designs amid the ongoing cost-of-living squeeze, as spending in the wider economy retrenches. The Irish craft and design sector is described as being very significant to the overall economy with up to 18,000 enterprises employing over 50,000 people. The sector is estimated to generate over…
The Government will today outline the payment dates for the €1.2 billion worth of lump sum social protection supports announced in last month’s Budget. Minister for Social Protection Heather Humphreys and Minister for Public Expenditure and Reform Michael McGrath are expected to set out the details of the eight different lump sums that will be…
Oil prices fell today, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world’s biggest crude importer, re-ignited concerns about falling global fuel demand. Brent crude futures for December settlement fell by as much as 1.1%, and was last down 85 cents, or 0.9%, at…
Taoiseach Micheál Martin has said Europe will develop a coordinated approach to the energy crisis, but it will take time. Mr Martin has joined other EU leaders at a summit in Prague, which will be dominated by discussions on how to reduce the price of gas after Russia’s invasion of Ukraine and the subsequent energy…
The Government has approved details of the new pension auto-enrolment scheme ahead of its expected introduction in 2024. Workers will be automatically signed up to a pension plan co-funded by their employer and the State but they can opt out if they wish to leave. This plan is for employees who are not already in…
Britain’s pound weakened against the dollar today, ending a six-day rally but avoiding recent lows as British Prime Minister Liz Truss sought to overcome a chaotic first month in office with her speech to the annual Conservative party conference. Truss urged Conservatives to stick together and help transform the economy and the country, as she…