Category: Business News

New EU rules have come into effect aimed at ensuring the union has access to a secure and sustainable supply of critical raw materials. The Critical Raw Materials Act (CRMA) is focused on protecting access to materials that are considered to be of high economic importance to the EU, but vulnerable to supply disruption. At […]

Read More… from EU critical materials rules could lead to new Irish mines

New mortgage approvals rose again by both value and volume in April, driven by continued strong demand from first time buyers. The Banking & Payments Federation Ireland (BPFI) said a total of 4,446 mortgages were approved last month. That is up 17.7% month-on-month and by 14% compared with the same period last year. In total […]

Read More… from Mortgage approvals up again in April driven by first time buyers

Revenue has published new guidance on determining the employment status of workers for tax purposes. It follows a recent Supreme Court judgement relating to Domino’s Pizza delivery drivers. In October 2023, the court ruled that the drivers should be treated as employees and not contractors. The case related to delivery drivers working on 2010/2011 contracts […]

Read More… from Revenue issues new guidance on employment status

The European Central Bank did not have to take its cues from the US Federal Reserve and could start to lower rates as soon as June, Bank of Finland governor Olli Rehn has told AFP. “While we don’t make policy in a vacuum, the ECB is not the 13th Federal district of the US Federal […]

Read More… from ECB can start cuts before Fed, says Finnish bank governor Rehn

Wholesale electricity prices – the prices that suppliers pay to generators – fell nearly 30% in the 12 months to April, the latest Central Statistics Office figures show. Wholesale electricity prices had rocketed in the period after Russian invasion of Ukraine, and today’s figures show they have fallen back nearly 60% since April 2022 and […]

Read More… from Annual wholesale electricity prices fell by almost 30% in April – CSO

New car sales in the European Union rose 13.7% in April on the year for their biggest jump since last October, Europe’s auto industry body said today, after registrations fell in March. The European Automobile Manufacturers Association (ACEA) said an uptick in major markets Spain, Germany, France and Italy drove the increase, while an early […]

Read More… from EU new car sales jump 13.7% in April, industry body says

Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this year. UK consumer prices rose by an annual 2.3% last month, down sharply from […]

Read More… from UK inflation falls less than expected, dashing June rate cut hopes

Europe’s landmark rules on artificial intelligence will enter into force next month after EU countries today endorsed a political deal reached in December, setting a potential global benchmark for a technology used in business and everyday life. The European Union’s AI Act is more comprehensive than the US light-touch voluntary compliance approach while China’s approach […]

Read More… from Europe sets benchmark for rest of the world with landmark AI laws

A new analysis of Budget 2024 has warned that it will widen further the gap between the better off and those on the lowest welfare and work incomes. The study by Social Justice Ireland found that the temporary measures contained in the Budget are more concentrated among welfare dependent households and those at work but […]

Read More… from Budget will widen gap between better off, those on low incomes – survey

Revenue has issued notices to 115,000 employers reminding them of their obligations under the Enhanced Reporting Requirements (ERR) scheme. Since January 1st, employers who provide the remote working daily allowance, untaxed travel and subsistence payments or qualifying incentives under the small benefit exemption to their employees and directors, without the deduction of tax, are required […]

Read More… from Revenue reminds employers of enhanced reporting obligations