News & Resources

The size of recent job cuts in the tech sector is still relatively small and only likely to partially reverse aggressive hiring in the past 12 to 18 months, according to stockbroker Davy. In a note to clients, chief economist Conall MacCoille said the cutbacks should be viewed in the context of a 9% or […]

Supermarket chain Aldi has announced 360 new jobs across the country. The company says the new roles arise because of the ongoing expansion of its network of shops. It currently has 155 stores employing over 4,650 people in Ireland and has plans for a further six shops this year. The business also says it is […]

The unemployment rate declined marginally in December to 4.3% from 4.4% in November, according to the Central Statistics Office. This compares to a rate of 5.1% in December 2021. It’s also lower than the 4.8% recorded in December 2019, before the pandemic. The seasonally adjusted number of people unemployed was 114,500 in December last year, […]

Britain’s attempt to become the first European nation to launch satellites into space ended in bitter disappointment overnight when Virgin Orbit said its rocket had suffered an anomaly that prevented it from reaching orbit. The “horizontal launch” mission had left from the coastal town of Newquay in southwest England. Virgin’s LauncherOne rocket was carried under […]

The EU has warned Elon Musk that Twitter could be subject to sanctions under a future media law after the “worrying” suspension of several journalists from the messaging platform. “News about arbitrary suspension of journalists on Twitter is worrying. EU’s Digital Services Act requires respect of media freedom and fundamental rights. This is reinforced under […]

Facebook parent company Meta has been fined €265 million by the Irish Data Protection Commission (DPC) following a data breach which saw the personal details of hundreds of millions of Facebook users published online.In April 2021, the DPC launched an investigation after data including names, phone numbers and email addresses of up to 533 million […]

A pricing analysis of 50% of the fuel stations in the State shows that cuts in excise duty by the Government last March were passed onto customers, although not always immediately. The analysis was carried out by the Competition and Consumer Protection Commission (CPCC) following 200 complaints from consumers impacted by rocketing fuel price increases. […]

Facebook parent Meta is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal has reported citing people familiar with the matter. It said that an announcement is planned as early as Wednesday. Meta declined to comment on the WSJ report. The company employs 83,500 people globally, with […]

One in eight consumers who are in the position of having to switch banking providers, because of the impending departure of Ulster Bank and KBC, have yet to decide on a new provider. That compares to one in four in July. The latest round of research from the Consumer and Competition Protection Commission found that […]

Non-bank lender Finance Ireland has announced that it is temporarily suspending the offer of fixed rate mortgage products of periods of 10 years or more to new applicants. The company blamed volatility on interest rates internationally. However, it said it plans to reopen applications for such products “in due course when more normal markets return”. […]

The Kerry Mental Health and Wellbeing Fest will take place from October 8th to 15th. This year’s theme is ‘my mental health matters’ and the festival will include a wide range of in-person and online events for all ages. Irish sports stars and entertainers, including Kerry footballer Sean O’Shea and magician Keith Barry, are getting […]

Electricity and gas supplier Panda Power has confirmed its intention to make a controlled exit from the Irish energy supply market. The supplier has around 50,000 electricity customers and 10,000 gas customers. Its planned exit follows the departure of Glowpower, Bright Energy and Iberdrola from the Irish market earlier this year. The company said the decision has been reluctantly […]

Dublin hotel Buswells has been put on the market with a guide price of €22 million. It is a popular meeting spot for politicians, journalists and lobbyists given its location across the street from Leinster House. The Molesworth Street property has operated as a hotel since the 19th century. In 1995, Buswells was bought by […]

In the US, the services PMI continues to hold up well with a reading of 56.9 for April. In terms of the component parts, business activity and new orders had their strongest readings this year. Whilst the global equivalent was in contraction territory at 43.7, there are solidifying hopes that the US can both simultaneously […]

Britain’s unemployment rate fell to its lowest since 1974 at 3.6% in the three months to July as more people left the labour market, according to official data today that could add to the inflation headache for the Bank of England. Economists polled by Reuters had expected the jobless rate to stay at 3.8%. The […]

Shane Lowry is hopeful that his victory at the BMW PGA Championship will spur him on to success more regularly on tour. The Offaly man emerged victorious at the prestigious Wentworth tournament, beating fellow major winners Rory McIlroy and Jon Rahm by a single shot to claim a sixth European title as a professional and end […]

KBC Bank Ireland said that 11 of its hubs around the country will close permanently on March 10, 2023 as part of its withdrawal from the Irish market. KBC has hubs in Galway, Limerick, Lapps Quay Cork, Wilton Shopping Centre Cork, Waterford, Maynooth, Main Street Swords, Blanchardstown Shopping Centre, College Green Dublin, Baggot Street Dublin […]

The European Central Bank raised its key interest rates by an unprecedented 75 basis points and signalled further hikes, prioritising the fight against inflation even as the economy is heading for a likely winter recession. With inflation at a half-century high and approaching double-digit territory, policymakers are worried that rapid price growth could become entrenched. […]

A new report by PitchBook, a Venture Capital (VC) and Private Equity investment platform, has named Enterprise Ireland as Europe’s most active domestic VC investor by deal count. The report, which covers the period 2018 to H1 2022, showed that Enterprise Ireland had completed 988 investments over that period, the most in any European country. The number […]

The Irish Data Protection Commission (DPC) has fined social media platform Instagram €405 million for violations of the General Data Protection Regulation (GDPR). It follows an investigation into breaches relating to children’s data which was commenced on 21 September 2020 on foot of information provided to the DPC by a third party, and in connection […]

The euro sunk below $0.99 this morning, a 20-year-low, following the announcement last week that Russia would cut off gas deliveries to Germany via the Nord Stream pipeline. The euro fell 0.7% to 0.9884 in early trade – its lowest since December 2002. The European currency has continued to weaken against the dollar since the […]