European shares inch up in choppy trade
Gains were limited, however, after data showing China’s economic growth slowed in the third quarter to its weakest since the 2008/09 global financial crisis as a slumping property market dragged on manufacturing and investment, fuelling worries over flagging global growth.
“The main trend is still negative. Volatility is falling back but remains at a high level. We’re in a technical bounce and the market is vulnerable,” said Jean-Louis Cussac, head …
Permanent TSB: Low risk of new bank bailout but tests leave vulnerable
“Permanent TSB is the most vulnerable of the Irish banks,” according to Emmet Gaffney, an analyst at Investec in Dublin.
But he said there is little risk of taxpayers being hit for fresh cash to cover any shortfall, because the bank already has a €400m cushion from taxpayers to help cope with the test results.
AIB and Bank of Ireland are regarded as better capitalised – meaning they would be …
Government seen as main barrier to bond scheme for Irish SMEs
ISE chief executive Deirdre Somers said the exchange is still in negotiations with the Department and Revenue Commissioners about ending the favourable treatment the tax system gives to government bonds.
“There are some impediments, being honest, to launching a bond market absent of certain tax changes,” she said, “but we’re continuing to work with them.
“It’s fiscal equalisation we’re looking for because nobody’s going to invest in high-yield debt at …
Budget : OECD welcomes end of 'double Irish'
Yesterday Finance Minister Michael Noonan said the scheme was ending for new entrants and it was being phased out over six years for companies already operating here.
Pascal Saint-Amans, Director for the OECD’s Centre for Tax Policy and Administration, said that the measure would make for a level playing field and described it as a very courageous step.
“This is a significant move in the right direction, as well as …
Christmas bonus back for over a million people on long-term welfare
The Government announced the return of a Christmas top-up payment worth 25pc of the weekly welfare rate for those on long-term social welfare payments.
Welfare recipients used to get a Christmas bonus of a full week’s extra payment in December, but this double payment was axed by Fianna Fail in 2009 after the economic collapse.
Tanaiste Joan Burton said prior to that there had been a Christmas bonus since 1980, …