Categorized as: Syndicated News

Fast-track Brexit: Theresa May sets out blueprint

Theresa May’s new Government has indicated it is prepared to spend in order to stabilise the economy, as it set out a blueprint for post-Brexit Britain. In a major shift away from the era of austerity imposed by George Osborne, the former chancellor, his successor Philip Hammond suggested that his Treasury will borrow in order […]

Increase in Bank of Ireland pension deficit could delay first dividend payout

The hit to Bank of Ireland’s pension scheme from Brexit will dent the bank’s capital, making a dividend pay-out to shareholders less likely, an analyst has warned. The State’s 14pc stake makes it the bank’s biggest shareholder. In a trading update released to shareholders, BoI said the Brexit decision has resulted in the bank revising […]

ISEQ index of Irish shares suffers Q2 Brexit uncertainty hit

The ISEQ Overall index of Irish shares fell by 10.6pc in the second quarter of this year and is down 16.9pc overall for the year to date. The ISEQ Overall index fell by 10.6pc in the second quarter of this year and is down 16.9pc overall for the year to date. In a statement, the […]

BREXIT: Bank of England to hold interest rates, but expect cut in August

Members of the Bank’s Monetary Policy Committee voted 8-1 to hold rates, but minutes of the meeting showed most expect action to be taken next month. One member – Gertjan Vlieghe – voted for an immediate cut to 0.25% amid signs that the EU referendum decision was already hitting parts of the economy, with growth […]

Interest cost on Ireland debt fell below €7bn last year – NTMA

The interest cost on Ireland’s debt fell below €7bn last year, the National Treasury Management Agency (NTMA) has said The agency said the early repayment of Ireland’s IMF loans helped contribute to that. But the organisation’s chief executive, Conor O’Kelly, warned that while the State’s debt dynamics are favourable, the debt pile remains at over […]

Theresa May to appoint Brexit minister after taking reins from Cameron

Theresa May will make appointing a cabinet minister to take charge of Brexit one of her first tasks as she takes the keys to No 10. Britain’s new prime minister will swiftly begin drawing up her new top team and is expected to increase the number of women in government. David Cameron will take to […]

‘Leprechaun economics’ – Ireland is laughed at over ‘farcical’ 26pc growth figures

Official figures showing the economy grew by an unprecedented 26pc last year have been roundly dismissed as “farcical and meaningless”. Worryingly, the true size of the country’s economy is now a mystery because of the distorting effect of foreign companies registering here in order to avoid paying tax elsewhere. The country’s status as a magnet […]

SBCI launches €45 invoice financing fund for SMEs with Bibby Finance

The Strategic Banking Corporation of Ireland (SBCI) and Bibby Financial Services Ireland (BFSI) have launched a new €45m invoice financing fund for small and medium enterprises (SMEs). The new fund makes more favourable rates for BFSI’s invoice finance facilities accessible for Irish firms and is available immediately. Invoice financing frees up cash for company by […]

EU states back deficit sanction procedure for Spain, Portugal

European Union finance ministers endorsed on Tuesday a deficit sanction procedure for Spain and Portugal, paving the way for the EU executive to propose possible fines in the next 20 days. The European Commission said last week that Madrid and Lisbon had not done enough to correct their excessive budget deficits last year and in […]

Irish GDP growth at staggering 26.3pc last year, economist says figures are ‘meaningless’

The Irish economy grew, in GDP terThat’s dramatically faster than the 7.8pc growth rate estimated in March, the Central Statistics Office said this morning. The dramatic hikes were due to contributions from the likes of the aircraft leasing sector and multinationals -increases in the stock of capital assets of companies, company relocations, a massive jump […]