Business News

European leaders gather for two-day summit that will assess EU-UK negotiations

15th October 2020

Taoiseach Micheál Martin will join other EU leaders in Brussels this afternoon for a two-day summit in which they will assess the prospects for a breakthrough in the Brexit negotiations. It will be the first time in nearly a year that EU leaders will have taken part in a detailed discussion about the future EU-UK relationship. […]

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Retention and creation of jobs central focus of Budget 2021

14th October 2020

Jobs were always going to be centre stage in Budget 2021 – not just creating new ones, but clinging on desperately to the imperiled ones that already exist. The figures cited by Minister for Finance Paschal Donohoe in his budget speech were stark. The Government is forecasting a total loss of approximately 320,000 jobs in […]

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Retention and creation of jobs central focus of Budget 2021

14th October 2020

Jobs were always going to be centre stage in Budget 2021 – not just creating new ones, but clinging on desperately to the imperiled ones that already exist. The figures cited by Minister for Finance Paschal Donohoe in his budget speech were stark. The Government is forecasting a total loss of approximately 320,000 jobs in […]

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Tourism VAT rate cut to 9% from 13.5%

14th October 2020

The VAT rate for the hospitality and tourism sector will be cut from 13.5% to 9% with effect from November 1, Minister for Finance Paschal Donohoe has announced. He said he was making the VAT cut in recognition of the “unprecedented challenges” facing particular sectors of the economy. As part of the July Stimulus, the […]

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EU summit to say Brexit progress ‘still not sufficient’

14th October 2020

European Union leaders meeting in Brussels tomorrow and on Friday to discuss Brexit will say that progress in talks with Britain is “still not sufficient” to seal a new trade deal, according to a draft summit decision seen by Reuters.  As the year-end deadline approaches to put in place a new relationship, the 27 national […]

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Domestic growth lagged pre-Covid

13th October 2020

Multinational corporations (MNCs) were already outpacing indigenous firms in Ireland before Covid made business conditions more difficult for the domestic sector. Sectors dominated by foreign-owned companies – such as IT and pharmaceuticals – grew by 6.9pc in 2019, while domestic sectors grew by 4.5pc, according to gross value added (GVA) figures from the Central Statistics […]

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Domestic growth lagged pre-Covid

13th October 2020

Multinational corporations (MNCs) were already outpacing indigenous firms in Ireland before Covid made business conditions more difficult for the domestic sector. Sectors dominated by foreign-owned companies – such as IT and pharmaceuticals – grew by 6.9pc in 2019, while domestic sectors grew by 4.5pc, according to gross value added (GVA) figures from the Central Statistics […]

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Sterling holds above $1.30 ahead of new lockdown measures

13th October 2020

Sterling edged lower against the dollar today, with British Prime Minister Boris Johnson expected to announce new restrictions as the Covid-19 outbreak accelerates, but hopes for a Brexit deal kept the currency above the key $1.30 level.  Boris Johnson was due to hold a meeting of the government’s emergency COBRA committee and then address parliament. […]

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Sterling holds above $1.30 ahead of new lockdown measures

13th October 2020

Sterling edged lower against the dollar today, with British Prime Minister Boris Johnson expected to announce new restrictions as the Covid-19 outbreak accelerates, but hopes for a Brexit deal kept the currency above the key $1.30 level.  Boris Johnson was due to hold a meeting of the government’s emergency COBRA committee and then address parliament. […]

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From a €4bn ‘super fund’ to the PUP Christmas bonus: Everything we know about Budget 2021 so far

13th October 2020

Tomorrow the Government will reveal details of the Budget 2021. Here’s everything we know so far… ■ Between €4bn and €5bn for a ‘super fund’ to deal with the twin-threat posed by Covid-19 and Brexit is being discussed. It is unclear whether the planned National Recovery Fund will form part of this or is separate. ■ […]

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