Small firms to create 60,000 jobs in 2015
Small and medium-sized firms (SMEs) could create 60,000 jobs next year, lobby group ISME said yesterday.
Almost a third of firms plan to take on staff. “It is possible that a net 60,000 jobs can be created in the SME sector in 2015,”
ISME chief executive Mark Fielding said yesterday at the publication of the group’s latest survey of firms’ beliefs in prospects for the economy.
“Although we have officially …
Record rise in demand for borrowing before Christmas
A pre-Christmas spending surge saw appetite for borrowing on credit cards and personal loans rise at the fastest pace since records began in 2007, figures show.
As the economy continues to recover, the Bank of England’s survey of banks and building societies found that demand for these types of credit is expected to increase further in the next three months.
The report found that in the three months to early …
Irish credit unions to start giving home cover
Consumers are to benefit from greater competition in the insurance market as credit unions launch home cover.
With almost three million credit union members the move is expected to shake up a market where there is already a high level of competition.
The move into home insurance by credit unions in the Irish League of Credit Unions comes months after they started offering motor insurance.
Some 377 credit unions are …
Opportunities, dangers and trends in 2015
Yogi Berra famously quipped that ‘it’s tough to make predictions, especially about the future’, but here are four themes which could be important for Irish business in the coming 12 months.
The first is the relationship between the euro and sterling. It is quite clear that the dollar is going to make strong gains against the euro in the next few months.
Traditionally, the dollar and sterling have tended to …
Euro hits a nearly nine-year low versus the dollar
The euro slumped to a nine-year low as investors bet that the prospect of inflation across the region turning negative and mounting political uncertainty in Greece will force the European Central Bank to unleash quantitative easing.
European shares were volatile, initially falling sharply before rebounding into positive territory within an hour of the open as investors digested the implications of the weak euro and yet another hefty slide in oil …
Mortgage arrears may be caused by Irish banks' leniency – IMF
The exercise of extensive forbearance by Irish banks on home loan defaults is “likely” to have contributed to the accumulation of arrears in the aftermath of the crash, says an IMF working paper.
While the paper suggests the economic benefit of temporary forbearance and loan modifications for struggling households could outweigh their costs, it says this depends on the circumstances prevailing in the country.
“Extensive forbearance, such as interest-only payments, …
Extra public service pay day to cost exchequer €300m
The inclusion of one additional pay and pensions day in public expenditure next year for “technical” reasons will cost the exchequer some €300 million, Government documents show.
Revised spending estimates from Minister for Public Expenditure Brendan Howlin also show that Government moves to suspend metered water charges in favour of lower flat fees will necessitate a €85 million increase in public expenditure next year.
The 253-page document – known as …
Mortage approvals soar as buyers seek to beat restrictions
Mortgage approvals have jumped 42 per cent as first time buyers seek to get on the property ladder ahead of the introduction of new lending restrictions.
A total of 23,796 mortgage approvals have been recorded for the year to the end of November, according to figures compiled by the Banking and Payments Federation Ireland (BPFI).
It said the value of mortgage approvals for the first 11 months of 2014 was …
Irish Stock Exchange announces #IPOready initiative
The Irish Stock Exchange has announced a new programme for companies planning to go public over the new few years.
The #IPOready initiative, which is supported by Enterprise Ireland and Invest Northern Ireland, provides firms that are on course for an initial public offering (IPO) with a support programme to teach them about investor relations, raising capital and business management.
“Listing on public markets brings enormous benefits for successful companies. …
EU states agree to cap credit and debit card transaction fees
European governments have agreed to cap the fees retailers pay to process debit and credit card transactions in a move the EU parliament said should bring down costs for customers.
Negotiators agreed late last night to cap charges across the 28 countries in the union following a long battle over charges with payments groups, including Visa and MasterCard.
The cap would apply to both cross-border and domestic card-based payments which …