Irish consumers plan to spend more on holidays this year despite concerns about the rising cost of living, according to the latest KBC Bank Ireland consumer sentiment index. The survey for May asked a special question on holiday spending plans, and the answer hinted at a resilience in people’s personal finances. Austin Hughes, Chief Economist…

The Financial Services Union, which represents bank workers, has said its members are at breaking point dealing with the increased workload caused by the exits of Ulster Bank and KBC. The union has commissioned a survey of its members, which shows that 88% of respondents feel stressed at work either on a regular or very…

307 jobs are under threat at online payment firm PayPal’s offices in Dublin and Dundalk in Co Louth. The company is opening a consultation with impacted staff who have been notified about the situation. The roles that are being targeted for compulsory redundancy are across a range of functions. 135 of the positions are based…

An organisation which supports and promotes tourism in Ireland has said rising car rental prices are undermining Ireland’s reputation as a good value for money destination. Fáilte Ireland added that those who cannot secure a car booking may decide not to come to Ireland. It said this represents a major loss for the wider tourism…

Convenience food group Greencore has reported a return to profitability and higher revenues for the first half of its fiscal year. Greencore said its profit before taxation increased from a loss of £1.8m the same time last year to a profit of £1m this year, on the back of higher group operating profit and lower…

Irish software company, Cora Systems, is to create more than 300 jobs, half of which will be in Ireland. The positions will be in a range of specialties including research and development, global sales and marketing, and professional services. 150 of the roles will be based in the firm’s Carrick-On-Shannon headquarters, or nearby under a…

The Competition and Consumer Protection Commission has cleared, subject to a number of legally binding conditions, the proposed €5 billion acquisition by Bank of Ireland of KBC Bank Ireland’s performing loans and deposits. The clearance of the proposed deal would see Bank of Ireland buy KBC’s performing loan assets, including performing mortgages, and commercial and…

Wholesale prices for goods used in manufacturing and construction rose at an annual rate of 5.2% in April, according to the Central Statistics Office. This was up from an annual rate of 4.4% in March. The price index for products destined for the domestic market rose by 7.1% on an annual basis while goods destined…

Irish businesses are once again having to restructure their supply chains, amid renewed disruption caused by the resurgence of Covid-19 in China, the Ukraine war and soaring fuel costs. Economists have warned that if continued, the global difficulties will contribute to lower economic growth and higher inflation. Central to the problems are the ongoing heavy…

5,600 new companies were registered in Ireland in the first three months of the year, down 12% on the same time last year. New data from CRIF Vision-net suggests that some people are holding off on launching new businesses due to rising costs, and supply chain problems. “What we are seeing is a bit of…