Extra capital needs behind high mortgage rates here
Mortgage holders here pay more for their loans than other borrowers around Europe, partly because of the high level of loss-making trackers still in the banking system. That’s according to a report from the Department of Finance, which looked at the reasons for the disparity between mortgage rates here and elsewhere. “Trackers, which are still […]
Grocery prices rise with further increases likely
Grocery prices rose 1.5pc in the 12 weeks to February 24, and further increases are likely on foot of Brexit, according to market researchers Kantar Worldpanel. Extra customs paperwork plus any tariffs that emerge will make British goods more expensive for Irish importers, Kantar’s consumer insight director Douglas Faughnan said. It was the fourth period […]
‘Memo to Safety Commissioner’
What kind of Online Safety Commissioner will the Government actually appoint? A powerful watchdog? A lame duck? Something in between? Communications Minister Richard Bruton talks about an office with the power to fine Facebook, Twitter or YouTube, or even spark a criminal prosecution. But to be effective a new commissioner has to do a few […]
BOI prepares sale of up to €800m in bad loans
Bank of Ireland is planning to sell up to €800m worth of non-performing loans this year as it moves to bring its balance sheet in line with European norms. The bank had consistently ruled out any loan book sales – until CEO Francesca McDonagh switched her stance last July. At the time she said that […]
Govt publishes strategy for future needs of business
The Government is publishing details of a new approach to the future needs of businesses and workers. Called Future Jobs Ireland, the aim is to prepare people and companies for coming technological changes and the move to a low-carbon economy. The Department of Business, Enterprise and Innovation says the policy is needed to ensure there […]