Business News

Minister for Finance Michael McGrath has confirmed that the planned hike in excise duty will go ahead in September as it is already “locked in”. He said the decision had already been made by Government and legislated for by the Oireachtas. However, he said it should take some time to reach consumers. “In the same…

Companies around the world are on track to pay investors a record $1.64 trillion in dividends this year following a more than 6% jump in the second quarter, a report today showed. The figures by fund manager Janus Henderson estimated that 88% of companies globally had either increased their dividends or held them steady in…

European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European Automobile Manufacturers Association (ACEA) showed today. Electric vehicle sales jumped 60.6%, continuing a rise buoyed by subsidies in a number of European Union countries. Full EVs accounted…

The volume of retail sales increased by 5.9% in the 12 months to July, new figures from the Central Statistics Office show. On a monthly basis, sales volumes dropped by 0.8% when compared to June. When motor trades are excluded, the volume of retail sales fell by 4% in the month, and rose by just…

Ireland recorded the highest level of economic growth in Gross Domestic Product terms among OECD countries in the second three months of the year. There are 38 member economies in the Paris-based Organisation for Economic Development including the world’s leading economies. Between March and June, GDP growth across OECD economies was estimated to have registered…

A fund of €17 million for private and community-based small tourism projects is opening for applications today. Failte Ireland was allocated €68 million in funding in total, the first part of which is focused on grants for small and community projects. It is part of the European Union Just Transition package announced earlier this year.…

Oil prices ticked higher today after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further US interest rate hikes that could dampen fuel demand. Brent crude rose 19 cents, or 0.2%, to $84.67 a barrel by 0627 GMT, while US West Texas Intermediate…

From shoes and uniforms, to school bags and stationary, back-to-school costs are mounting. It is an expensive time of year for those with children in both primary and secondary school, with many of the expenses unavoidable. A recent study carried out by children’s charity Barnardos revealed that many parents are concerned about meeting the costs…

A third of workers in Ireland do not feel their organisations treat everyone fairly according to new research on workplace diversity and inclusion. The study by the Irish Centre for Diversity shows that 90% of workers feel respected and valued by their immediate colleagues but two out of five respondents said they did not feel…

The employment rate rose to over 74% in the second quarter of 2023, the highest rate since the current series of records began in 1998. The latest Labour Force Survey from the Central Statistics Office shows that the number of people in employment increased by 88,400 or 3.5% to 2,643,000 in the second quarter of…