Public sector pay talks are due to resume today at the Workplace Relations Commission. Talks ended without agreement in June after unions and staff associations rejected a 5% pay increase over two years saying it fell far short of inflation. The Government defended the offer saying that the increases would come on top of a…
Half of prospective home buyers say the rise in the cost of living has affected their ability to buy a property, according to new research by property website MyHome.ie. The survey of almost 3,000 people carried out in August shows that inflation is having a significant effect on the homebuying, rental and home renovation markets….
There was a slight improvement in confidence among consumers and businesses in August, according to the latest Economic Pulse from Bank of Ireland. However, the uplift in mood was from a very low base and the overall Pulse reading sits at well below where it was last year. Consumer confidence remains subdued at just under…
A senior research officer with the ESRI has said nobody can say for certain that power blackouts can be avoided this winter, adding that if there are to be interruptions to demand, they will certainly happen at peak times. Speaking on RTÉ’s Morning Ireland, Dr Muireann Lynch said supply on the system has been the…
On a flat piece of land in west Dublin, 96 black container like structures sit in perfectly straight rows. A persistent hum is the only indicator of the electronic equipment packed inside. Each cube is a battery storage unit, full of small lithium-ion batteries, just like the ones you find in your mobile phone. The…
The euro rebounded back above parity with the dollar today as the US currency’s recent rally ran out of steam. Investors are waiting to see whether Federal Reserve Chair Jerome Powell would sound a more hawkish tone at a meeting this week. A more bullish mood across markets also helped the euro, as well as…
The German economy grew in the second quarter, propped up by household and government spending and beating analyst expectations that saw it on the edge of a downturn, data showed today. Europe’s largest economy grew by 0.1% quarter on quarter and 1.7% on the year, adjusted for price and calendar effects, the federal statistics office…
The commercial vacancy rate across the country reached 13.9% in the second quarter of this year, up 0.25% on the same period last year. This is the highest level recorded by GeoDirectory since it began reporting on the rates in 2013. There were 29,241 vacant commercial units recorded across Ireland in the second quarter, a…
The euro remained under pressure amid growing recession fears fuelled by a possible energy supply crunch this morning, but the US dollar recouped some data-inspired losses. Disappointing US services and manufacturing surveys and a plunge in new home sales saw the dollar take a breather, after a run that pushed the dollar to its strongest…
Another dramatic spike in natural gas prices appears to have ended any hopes that Europe’s inflation battle is set to ease. Financial markets are now bracing for higher prices, a faster pace of interest rate hikes and a deeper economic downturn. Just a few weeks ago, signs that inflation in the US – which tends…