Business News

The European Central Bank raised interest rates for the 10th meeting in a row today to counter stubborn inflation but signalled that it is likely done tightening policy. The ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Markets and economists expect the policy tightening move to be the ECB’s…

One in three people in Ireland now use banking apps from outside of the traditional sector, nearly double the number a year ago, new research has found. The Consumer Banking Sentiment Survey, carried out for the Department of Finance, also found that 82% agree services provided by digital only banks are a good substitute for…

Local Enterprise Offices have launched a campaign encouraging small businesses to avail of supports that will help them save time, money and energy. The “All In A Day’s Work” campaign is focused on highlighting the supports that will enable small businesses to make significant changes to the way they work. The supports include the Lean,…

The European Central Bank’s governing council meets in Frankfurt today to decide if it will continue to increase interest rates as part of its efforts to bring inflation down. Since July last year, the bank has increased rates after nine consecutive meetings. The ECB has put up interest rates by over four percentage points since…

Despite fears of AI replacing jobs in the tech sector, there has been a surge in demand for workers in IT and digital roles, according to the latest ManpowerGroup Employment Outlook Survey. It shows that IT sector hiring demand has climbed by 20% compared to the previous quarter. The survey is based on responses from…

The four main energy companies have been told that they must go further on price cuts, during a meeting with Taoiseach Leo Varadkar and energy minister Eamon Ryan this afternoon. The two ministers met the four largest suppliers – Electric Ireland, SSE Electricity, Bord Gáis and Energia. Price reductions of between 10% and 20% have…

Overall gas demand in August was well down on the same month last year amid mild and changeable weather. According to the latest Gas Demand Statement from Gas Networks Ireland, gas demand in the month was down by a fifth on August of last year and by 2% on July. Gas remained the biggest contributor…

New figures from the Central Statistics Office show that Irish businesses continue to increase female representation at both senior executive and board level, albeit slowly. However, the number of females in Chief Financial Officer positions continues to fall. Carried out every two years, the CSO Gender Balance in Business Survey looks at female representation among…

The euro zone economy will grow slower than previously expected this year and next, the European Commission forecast today. This comes as consumer demand suffers from high inflation and the biggest economy, Germany, slips into recession this year. In its interim forecasts for gross domestic product and inflation of the euro zone’s five biggest economies,…

Recruitment firm Hays Ireland has said that new research it has conducted has revealed a disconnect between employers and older workers. The company said its survey of 1,600 employers and employees shows a notable communication gap between the retirement plans of older workers and the strategies of employers to retain their knowledge and skills. According…