Workers hit with an extra €5bn a year in income tax since crash

Ordinary workers are bearing a massive burden of higher income taxes to bail out the State since the crash. New calculations show that workers are now paying €5bn a year extra in income tax alone since the boom. This is despite fewer workers in the system as unemployment remains elevated. Workers are bearing the higher […]

Read More

Kerry Group could divert investment from Ireland to UK

Kerry Group might divert some investment activity from Ireland to the UK following June’s Brexit vote, chief executive Stan McCarthy has warned. He said a decision will depend on what trade agreements are ultimately engineered between the UK and the EU. “There are some investments that we will have to reconsider – that we would […]

Read More

Kennedy Wilson ‘alert to risks and opportunities in Irish market following Brexit’

London Stock Exchange-listed property giant Kennedy Wilson has said it is alert to both risks and opportunities that may present themselves in the investment and occupier markets, following Brexit. The company said it will “actively monitor” the risk of investment and market volatility in its European markets, which includes Ireland. Kennedy Wilson recently appointed John […]

Read More

Central Bank’s Lane banned Finance officials from IMF talks

The Central Bank did not want Department of Finance officials attending meetings on financial supervision during an International Monetary Fund (IMF) visit earlier this year, the Irish Independent has learned. Citing legal “confidentiality obligations”, Central Bank Governor Philip Lane argued against the attendance by Departmental officials at as many as 17 meetings related largely to […]

Read More

Ratings agency S&P: ‘Robust recovery’ in Irish housing market to continue

CREDIT ratings agency Standard & Poor’s expects the “robust recovery” in the housing market here to continue this year. It said prices would rise by 6pc, aided by the ongoing improvement in the labour market and a housing supply shortage. The rise in property prices was likely despite the vote in Britain to leave the […]

Read More

Irish services industry growth hits slowest rate since 2014

Growth in the Irish services industry fell to its lowest rate since February 2014 as the fallout from Brexit continues to take its toll, new research has shown. According to the Investec Purchasing Managers’ Index (PMI), a slight weakening was reported for a second successive month in new business. However, the index points out that […]

Read More

Canadian firm agrees deal for Cork-based Whitegate oil refinery

A Canadian oil firm has agreed a deal to purchase Whitegate Oil refinery in Cork from its US owners. Irving Oil confirmed it has reached agreement with Houston-based Phillips 66 to acquire Whitegate for an undisclosed sum. The east Cork plant currently has a workforce of 160. The refinery’s future had been in doubt for […]

Read More

Canadian firm agrees deal for Cork-based Whitegate oil refinery

A Canadian oil firm has agreed a deal to purchase Whitegate Oil refinery in Cork from its US owners. Irving Oil confirmed it has reached agreement with Houston-based Phillips 66 to acquire Whitegate for an undisclosed sum. The east Cork plant currently has a workforce of 160. The refinery’s future had been in doubt for […]

Read More

Unemployment stays at 7.8pc in June

Unemployment in Ireland remained static in the month of July, with figures released by the CSO revealing that 7.8pc of those between 15 and 74 are currently on the live register. That is the same as the rate recorded for June. Unemployment fell by 1.4pc on an annual basis, down from 9.2pc in July of […]

Read More