It is the time of the year when many companies are due to hold their Annual General Meetings, however, because of the Covid-19 crisis, and social distancing requirements, many AGMs have been rescheduled or postponed. Companies have found their firms in a Catch 22 situation – A company must have a physical AGM in order…
A housing alliance which is building affordable homes is getting a site ready to reopen next week, despite not having permission to re-start work from the State Housing Agency. The Ó Cualann Cohousing Alliance has said they want to re-open their construction site in Ballymun in Dublin, but the development is not on the list of 35…
Oil prices fell today on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic. US oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon. US West Texas Intermediate June futures fell $2.86, or 16.88%, to $14.08 a…
591,000 people are now receiving the Covid-19 Pandemic Unemployment Payment, with around 21,000 receiving it for the first time this week. That is on top of around 212,000 eligible for standard “non-Covid” Jobseekers benefit of €203 per week, and 337,400 receiving income support through the Temporary Wage Subsidy Scheme. The Minister for Employment Affairs and…
The Central Bank has said that small and medium-sized businesses will need up to €5.7 billion in emergency cash as a result of the Coronavirus lockdown to cover costs. The deputy governor of the Central Bank, Ed Sibley, said that SMEs have a really important role to play in the Irish economy, both socially and…
A new survey shows that with the country more or less in full lockdown, job losses soaring and incomes under pressure, consumer and business confidence both sank in April. The Bank of Ireland Economic Pulse came in at 34.3 in April, the lowest reading in its history. The index, which combines the results of the…
Oil prices were broadly steady today but were headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis. Brent crude was up 18 cents, or 0.84%, to $21.51 so far today, having risen 5% yesterday, while US oil was steady at $16.50 a barrel,…
EU leaders have set a target of two weeks to reach agreement on a trillion euro plus recovery plan for countries stricken by the coronavirus pandemic. This follows a four hour video conference today. The plan will involve leveraging the EU’s one trillion euro seven year budget in order to provide loans and grants to the…
Small and medium sized firms here could need up to €5.7bn in liquidity supports over the coming months as a result of the Covid-19 crisis. According to a new paper from the Central Bank, the policies to contain the spread of the virus have placed a temporary block between the consumption demands of households and…
New figures show that digital advertising spend in the Irish market for 2019 rose by 17% to reach €673m, but the outbreak of Covid-19 will hit spending this year. The latest IAB PwC Online Adspend report shows that display advertising grew by 30% to €326m last year, driven by the growth of Social – which…
