New rules aimed at ensuring motor and home insurance customers do not get penalised for their loyalty are to come into effect from July 1. It means that from that date it will not be possible for insurers to charge any renewing customer a premium that is higher than they would have charged a consumer…
More lenders are likely to follow the lead of ICS Mortgages in the coming weeks in raising fixed rate products, according to one treasury specialist who works with businesses on their financial planning and lending needs. John Finn, Managing Director Treasury Holdings and Founder of the Treasury Hub, said the move upwards was entirely predictable…
Euro zone finance ministers have agreed to tighten fiscal policy a little next year after three years of pumping billions into the economy due to the coronavirus pandemic, but also to be ready with more cash should the war in Ukraine make it necessary. “The fundamentals of the euro area economy are strong,” the ministers…
Six in 10 Irish SMEs take no particular steps to protect customer data online or do not know how to, according to new research. The study from .IE, the managers of Ireland’s online .ie address, found that just 15% of SMEs said they use a firewall or antivirus software, 11% use two-factor authentication and just…
A new report shows that people are becoming more concerned about their jobs, paying bills and other day to day worries, but they are still saving more than before the outbreak of Covid-19. Bank of Ireland said its Savings and Investment Index made a strong recovery in the first quarter of this year, with a…
Labour costs could be on course to rise in the construction industry as some firms in the sector report difficulties in recruiting staff. According to the latest Purchasing Managers’ Index from BNP Paribas Real Estate Ireland, wage pressures in the sector have remained “well contained” so far with 23,300 more construction workers being hired last…
The Central Bank’s Director of Consumer Protection has said he thinks banks here “are not yet where they need to be” in preparing for Ulster Bank and KBC’s exit from the Irish market. Colm Kincaid also said the Central Bank has an “appetite to intervene” where it considers necessary to do so if it is…
A once-off fuel allowance payment of €125 will be paid to recipients this week. The measure was announced last month as part of the Government package to tackle the rising cost of living. Fuel prices are one of the main drivers of rising inflation, while the war in Ukraine has also pushed costs higher. Last…
Fuels for Ireland, the industry body for fuel suppliers and retailers, has written to Taoiseach Mícheál Martin to express its members’ deep unhappiness at what it claims have been misleading statements about the sector. The organisation also said that comments made by Mr Martin suggesting the actions of the organisation’s members were morally reprehensible should…
The annual rate of inflation rose to 5.6% in February, according to the latest figures from the Central Statistics Office. This is the highest annual rate in almost 21 years. Today’s CSO figures show that the main contributor to inflation remains fuel and energy. Unfortunately, inflation is almost certain to climb higher because February’s figures…