Former European Central Bank (ECB) president Mario Draghi has warned governments to use the massive stimulus they’ve deployed in the coronavirus pandemic to upgrade their economies or face the risk of another debt crisis. In his first high-profile appearance since leaving his post in October, Mr Draghi called for “credible” economic policies to avoid disillusionment…
The coronavirus pandemic has wiped out nearly half of the 12 million euro-area jobs created in the seven years since the last recession, in another sign of the enormous damage wreaked on the economy. Employment slumped by 4.9 million in first half of the year, almost all in the second quarter when the most stringent…
Property prices rose marginally in the year to June despite the pandemic causing massive disruption to the housing market. Prices were up by just 0.1pc in June when compared with the same month last year. House building has been heavily set back by the virus, with estate agents reporting a fall off in viewing activity….
The head of Germany’s largest trade union has proposed a four-day week to protect jobs threatened by digitalisation and the coronavirus-induced economic slump. Jorg Hofmann, head of IG Metall, said he planned to negotiate the reduced working hours for his members in wage talks with major players in the German automotive and mechanical parts sectors….
The aviation industry is staring into a winter of devastation but the answer could lie in colder climes. An Alaska-style safe travel model could be utilised, amid warnings Irish airports desperately need support measures for the crippled aviation sector. Traffic has collapsed by 97pc at Dublin, Cork, Shannon and Ireland West-Knock airports since the pandemic…
There is a popular trope in the narrative surrounding the origins of a successful enterprise, usually centring around working from a back bedroom, the kitchen table or from the garden shed. But the truth about successful start-ups and SMEs is usually a lot more prosaic. On top of a great idea and business plan, there…
Staycations and the reopening of hospitality and leisure venues have spurred gas demand to near normal levels. But while overall gas demand climbed 4.1pc in July compared to June, it remains 3.7pc lower than a year ago, according to Gas Networks Ireland. Gas demand in the hospitality and leisure sector was just 1pc below where…
Senior venture capitalists have described as “worrying” the lack of money coming through for new Irish startups. While the overall amount raised on both parts of the island reached €545m for the first six months of 2020 – the highest for four years -the figures were skewed by a handful of giant deals, leaving early-stage…
Euro zone government bond yields rose on Friday, after three consecutive days of selling-off, with the benchmark German 10-year Bund yield having briefly touched a six-week high in early London trading. Borrowing costs in Europe have tracked US Treasuries this week, which have been driven to new highs by a deluge of debt issuance in…
The technology sector will have recovered from the effects of the coronavirus and lockdown by the end of this year, but retail will not see 2019 levels of activity until beyond 2025. Overall, the economy here will not recover to its 2019 size until 2023 and Northern Ireland’s will take a further year return to…