There was a marginal decline in the number of mortgage accounts on private residences that were in arrears at the end of December, according to the Central Bank. 54,986 mortgage accounts were in some form of arrears by the end of the year, a decline of 0.8% – or 462 accounts – over the three…

Irish family firms cut more jobs in the past year when compared to their European peers, according to a new report. The study by the Step Project Global Consortium and KPMG Private Enterprise found that employment in Irish family firms was 15% lower than pre-pandemic levels. That compares to a fall of 4% across European family…

The average price of farmland rose by 15% nationally last year, despite the Covid-19 pandemic, the latest Irish Farmers Journal’s county land price report shows. Today’s report shows that the average price of agricultural land reached €10,316 an acre, up from €8,971 in 2019.  This is the highest average land price figure recorded since the…

The stockbroker Davy need only look in the mirror when it asks itself how things went so catastrophically wrong, the Director General of Financial Conduct at the Central Bank has said. Derville Rowland also told the Banking and Payments Federation of Ireland Membership Forum virtual event that consumer and investor protection begins with firms themselves….

The European Central Bank is aiming to stop bond yields from rising before the pandemic-hit euro zone economy is ready to digest higher borrowing costs, the ECB’s chief economist Philip Lane said today. The ECB decided last week to accelerate bond purchases for the next three months to counter a rise in bond yields. Policymakers…

A shift away from the UK as a destination for European job seekers post-Brexit is manifesting in increased interest in certain categories of Irish jobs, according to research from online recruitment company Indeed. Under the UK’s new immigration regime, which ends freedom of movement and requires applicants to meet certain criteria, European workers are finding it…

51% of businesses plan to adopt remote working on a permanent basis, according to new research carried out by CIPD Ireland. The data was published by the umbrella body for Human Resources and learning and development, to mark 12 months of living and working with Covid-19 restrictions. The findings show that over three-quarters agreed workers…

The Central Bank has raised questions about the shared equity scheme proposed by Minister for Housing Darragh O’Brien to help first-time home buyers. In a letter to the Oireachtas Housing Committee, the bank said the initiative could result in “upward pressure on house prices” if demand for homes increases. The letter by the bank’s Director of…

The value of contactless payments rose by almost 30% year on year in January to €674m as consumers took advantage of the extended ‘tapping’ limit of €50, according to figures from the Banking and Payments Federation Ireland. Contactless accounted for less than half of all card payments in January, despite the increase in the tapping…

The initial shutdown of the construction sector for seven weeks during the initial stages of the Covid-19 pandemic knocked €2bn off construction output last year. That is according to a report carried out by EY DKM on behalf of the Construction Industry Federation.  Analysing official data, the report concluded that the shutdown – which started…