State fund loses €750k due to ‘human error’
A State fund set up to support jobs in Ireland lost €750,000 on an investment because of a human error which wrongly categorised the money as euro when it should have been in dollars. When the rate of exchange moved against the State body it lost thousands because it failed to put in place a […]
Dublin businesses face rate hike over funding row
Businesses in Dublin city could be facing a big rate increase if the Government refuses to compromise on a funding row with the city council. The issue centres on the loss of €8.4m because of a change to rate liabilities for Irish Water facilities. Last week councillors refused to pass a number of measures including reduced community funding, […]
Brexit hiatus lifts consumer and business confidence
Progress towards the achievement of a Brexit resolution has lifted consumer confidence this month, new research has found. But the Bank of Ireland Economic Pulse for November also recorded that despite the brighter consumer mood, Brexit uncertainty continues to weigh on businesses’ investment plans. The index, a composite of separate measures of consumer and business […]
Black Friday sees surge in online spending but more people shop in store
Consumers still spend more in store than online on Black Friday, according to research carried out by AIB. Analysing the card usage habits of shoppers on Black Friday 2018, the spending data revealed that 69% of consumers shopping on the day procured their goods in store with the remaining 31% shopping online. However, the data points […]
US Fed members unanimously reject negative rates – minutes
US central bankers last month dismissed the idea of taking interest rates into negative territory, something President Donald Trump has called for many times, according to meeting minutes released last night. Evidence for the benefits of negative interest rates – lenders must pay borrowers rather than the other way around – has proven “mixed” in […]