FBD Holdings said today that its average motor insurance premium is 9% lower than the same time in 2021 and the company is seeing strong retention of existing customers. In a trading update ahead of its AGM today, FBD said the underwriting performance of its business for 2022 to date has been in line with…
The Chief Executive of Lakeland Dairies, Michael Hanley has announced his decision to retire at the end of this year. He has held the position for 16 years but has worked with the co-operative for 36 years. During his term as CEO, Mr Hanley led the transformation of Lakeland Dairies to become the second largest…
Shipping operator Irish Continental Group has reported an increase in revenue for the first four months of the year. In a trading statement, the group provides comparisons to the same period last year as well as to the first four months of 2019, the year before the pandemic struck. ICG said group revenue up to…
European Central Bank president Christine Lagarde has hinted the Frankfurt-based institution could raise its interest rates from historic lows as soon as July as inflation in the eurozone soars. The ECB should end bond-buying “early in the third quarter”, Lagarde said in a speech in Ljubljana, and could then raise interest rates “only a few…
The British government is not expected to announce any moves to unilaterally scrap the Northern Ireland Protocol. There had been reports in the British media that the Queen’s speech, which sets out the legislative programme for the year ahead, would announce a law to override the Northern Ireland Protocol. That would be regarded as a…
Fire protection company Writech has announced the creation of 50 jobs with the launch of a new design and innovation centre in Mullingar, Co Westmeath. The company has invested €2 million in the facility which uses state-of-the-art 3D technology to design, engineer, manufacture and assemble products and systems for clients. The centre will lead to…
The Government is set to agree to extend the lower VAT rate for the hospitality sector when the Cabinet meets this morning. Minister for Finance Paschal Donohoe is likely to bring what is termed an “under the arm” memo outlining the details of the extension. It is thought that the 9% lower VAT rate, which…
The chief executive of Aer Lingus has said it is inevitable that fares at the airline will rise as a result of rising oil prices. Lynne Embleton said fuel costs are a large part of the overall cost base of an airline, typically making up 25-30%. “When fuel price goes up it is inevitable eventually…
The National Transport Authority has said passenger numbers on public transport have increased as fares are being reduced as part of Government plans to help ease the cost of living and to encourage more sustainable travel. It is the first time public transport fares have been cut nationally since 1947. Fares on Dublin Bus, Luas,…
Oil prices slipped today, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand. Investors are also eying European Union talks on a Russian oil embargo that is expected to tighten global supplies. Brent crude dropped 28 cents, or 0.3%, to $112.11 a barrel early this morning while US…