Category: Business News

Over 1,000 jobs have been saved through the Small Company Administrative Rescue Process (SCARP) since it was launched three years ago, new figures show. The scheme aims to facilitate simplified out-of-court debt restructuring for small businesses deemed to be viable. A process adviser is appointed under the scheme to prepare a rescue plan and to […]

Read More… from 1,076 jobs saved due to SCARP over past three years

Just a tiny fraction of the €3.26 billion in fines levied by the Data Protection Commission (DPC) over the past five years has been collected. The DPC said that of all fines issued between 2020 and the end of October this year, only €19.9m of the total has been paid so far. The total amount […]

Read More… from Just a fraction of fines imposed by DPC collected so far

An Post expects to receive around 350,000 parcels from the UK over the next 24 hours after Holyhead Port’s closure caused a backlog. It said it has the “facilities, technology and staff” across its hubs to deliver the parcels to homes and businesses around Ireland. Ferry sailings between Ireland and Wales were cancelled due to […]

Read More… from An Post vows to clear backlog of parcels after storm delays

The European Central Bank cut interest rates for the fourth time this year today, by quarter of a percentage point, and kept the door open to more as growth is hit by political instability at home and the threat of a fresh US trade war. The ECB has been easing policy as inflation worries largely […]

Read More… from ECB cuts rates again, keeps door open to further cuts

New figures from the Central Statistics Office show that consumer prices rose by 1% in November compared to the same time last year. This marked an increase from the annual rate of inflation of 0.7% in the 12 months to October. The CSO said the biggest increases in the 12 months to November were seen […]

Read More… from Annual inflation rate rises to 1% in November from 0.7% in October – CSO

Interest rates are expected to be cut by 0.25% by the European Central Bank today. If a reduction is announced it would immediately benefit tracker mortgage customers. The cut will reduce rates from 3.25% to 3% in the eurozone. It would be the bank’s fourth decrease so far this year. The move is in response […]

Read More… from ECB set to cut interest rates for fourth time this year

Demand for green talent in Ireland grew by over 22.1% last year, well above the global average of 11.6%, according to research. The latest Labour Market Pulse published by IDA Ireland in collaboration with Microsoft and LinkedIn shows that demand for green skills in Ireland grew at twice the rate of the rest of the […]

Read More… from Demand for green skills in Ireland growing at twice the global average

Irish property prices are overvalued by 8% to 10%, according to the Economic and Social Research Institute (ESRI) in its latest Quarterly Economic Commentary. The organisation analysed the value of houses and apartments taking into account prices, disposable incomes, interest rates, the supply of housing and the ratio of population in the key house purchasing […]

Read More… from House prices overvalued by 8-10%, ESRI warns in latest economic update

Energy-related greenhouse gas emissions from transport, electricity, and heat fell 8.3% last year, according the latest report from the SEAI. They are now at their lowest level for 30 years. Energy emissions have also fallen in seven of the last ten years. The Sustainable Energy Authority of Ireland is calling for energy use in carbon-intensive […]

Read More… from Energy-related greenhouse gas emissions down 8.3% in 2023

New figures from the Central Statistics Office show a 25% decrease in the number of electric cars licensed for the first time during the first 11 months of this year compared to the same time in 2023 – continuing the trend of the last few months. The CSO said that 15% of all new cars […]

Read More… from 25% fall in new electric car sales so far this year – CSO