New figures from the Central Statistics Office show that 23.3% of businesses have ceased trading temporarily since the outbreak of Covid-19, while 0.6% have ceased trading permanently and 76% continue to trade. The CSO today published the first results of its Business Impact of Covid-19 Survey, the first of a temporary fortnightly snapshot of how…
European stock markets and oil prices fell this morning as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets. European shares opened down 2.5% with U.S. stockfutures trading close to 1% in the red. Earlier, MSCI’s broadest index…
The residential property market is now at its lowest level for a first quarter since 2017, while sales in six counties in Leinster down by at least 6% compared with the same time last year, a new study shows. The study, based on an analysis of residential property sales recorded in the Property Price Register,…
It’s difficult to believe that just a few months ago COVID-19 was a term that no one knew. Now, COVID-19 or Coronavirus seems to be all the world is talking about. According to the World Health Organisation, there are currently over 3 million internationally confirmed cases of this virus, with over 20,000 of those being…
More than 427,000 workers are now having their wages subsidised by the Government under the Temporary Wage Subsidy Scheme, according to the latest figures published by the Revenue Commissioners. More than 50,900 employers have registered for the TWSS with the Revenue Commissioners, who administer the scheme. Of those, 43,000 have already received subsidy payments. In total,…
Households face increases in their energy bills from today as the hike in the carbon tax kicks in. The tax was raised by €6 to €26 per tonne of carbon dioxide in last year’s budget. However, the increase was postponed until today on home heating fuels such as coal, peat, natural gas and home heating…
Manufacturing in Ireland is going through record falls in output and employment, according to a new survey. The AIB Manufacturing Purchasing Managers Index shows that in April output, new orders, exports and purchasing all fell at the fastest rates ever recorded. The survey also found that it is taking longer for suppliers to deliver raw materials…
Banks should rein in bonuses to boost their capacity to help businesses and households hit by the coronavirus crisis, the European Union’s executive said today. The European Commission set out a fresh package of temporary “quick fixes” offering capital relief that would support extra lending potentially worth up to €450 billion to companies struggling as…
Ratings agency S&P Global Ratings has revised down its outlook for three of the main Irish banks from stable to negative, saying that downside risks for the banks’ financial profiles remain substantial. However, the agency has affirmed the current ratings of AIB, Bank of Ireland, Permanent TSB and KBC Bank Ireland. It has also not…
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…