Bank stress tests set to be delayed until late October
The European Central Bank (ECB) is looking at how 130 of the eurozone’s largest banks value their assets.
Those banks will also undergo EU-wide tests on whether they have enough capital to weather future crises.
The ECB had informally pencilled in Friday, October 17, as the date for publication of the results of the combined exercise and had given this date to some banks. The sources told Reuters that this …
Low ECB rates set to last for rest of decade
The ECB surprised markets last week with its decision to ease monetary policy again.
Rates were last cut in June and there were strong hints at that time that it would not be lowered any further.
However, the weakness of the economy over the summer spurred it to take a further cut of 10 basis points to its key interest rates.
The refinancing rate was reduced to 0.05%, with the …
Tax credit for ad industry urged after slump post 2007
Advertising agency Core Media, in conjunction with the Association of Advertisers in Ireland (AAI), has been pushing the Department of Finance to include a 25pc tax credit for incremental advertising in the upcoming Budget in an effort to return the sector to growth.
Core Media chief executive Alan Cox said that advertising spend in Ireland slumped 41pc to €910m last year compared to 2007, with the ad spend per capita …
Builders see first full year's growth since recession
Following another sharp expansion in August, activity in the construction sector has now increased in each month throughout the past year.
Growth last month was boosted by a steep rise in new orders, Ulster Bank’s August Purchasing Managers Index (PMI) found. PMIs are closely watched indicators of a sector’s health. Its headline reading was 61.4; anything over 50 indicates expansion. Companies were strongly optimistic that activity will continue to increase …
FTSE 100 volatility index jumps on Scottish fears
In early trade, the FTSE 100 Volatility Index, which measures the price of options on UK blue-chip stocks, rose to 16 percent, having closed at around 13 percent on Friday.
In early trade, sterling weakened to its lowest in nearly 10 months amid worries about political uncertainty after an opinion poll showed supporters of Scottish independence from Britain taking the lead for the first time since the referendum campaign began.
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