Business News

The European Central Bank is widely expected to cut interest rates by 0.25% later today. The development follows a significant drop in inflation across countries which use the euro. An announcement is expected from the ECB early this afternoon. Last month, inflation in the eurozone fell back to 2.2% which is close to the ECB’s…

US consumer inflation eased more than expected last month, according to government data published today, likely bolstering calls for the Federal Reserve to cut interest rates next week. A rate cut by the Fed would act to boost demand in the world’s largest economy. That would give the Democratic party some good economic news to…

Ireland’s tech sector expects a resurgence in hiring confidence following consecutive quarters of stagnant recruitment, according to the latest Manpower Group Employment Outlook Survey. The study shows that hiring optimism in the sector has reached its highest level since the post-pandemic hiring boom. Despite this, hiring at volume is expected to remain subdued, with high-skilled…

Britain’s economy stagnated for a second month in a row in July as manufacturing output dropped sharply, an inauspicious start for the new government of Prime Minister Keir Starmer who wants to accelerate the pace of growth. Economic output showed no change in month-on-month terms in July, as it did in June, data from the…

Taoiseach Simon Harris has said that the €14 billion in tax due to Ireland following the ruling against Apple cannot be used for day-to-day spending, adding that the Government will give careful consideration on how best to use the funds. Apple this morning lost its fight against the European Commission’s ruling that it underpaid €13…

New research from Fáilte Ireland has found the crucial summer tourism season was a disappointing one for more than half of operators here. 53% of those industry providers had fewer customers this summer than last, with 23% reporting similar levels and 24% recording more. The data from the national tourism development authority also found that…

The State has completed the fourth auction under the Renewable Energy Support Scheme (RESS 4). The process saw more than 2GWh of capacity provisionally procured, enough to power up to half a million homes. Four wind farms will provide 1,146 GWh of that total, coupled with solar projects that will generate 925GWh. The average weighted…

Australia plans to set a minimum age limit for children to use social media citing concerns about mental and physical health, sparking a backlash from digital rights advocates who warn the measure could drive dangerous online activity underground. Prime Minister Anthony Albanese said his government would run an age verification trial before introducing age minimum…

A review of the stamp duty rate on the purchase of ten or more homes is not advocating for a hike in the 10% rate. RTÉ News has learned that the early draft of the Department of Finance’s review favours leaving the rate unchanged. The study of the rate commenced earlier this year following a…

Irish employers are least likely to use artificial intelligence (AI) in the workplace, according to new global research. The survey of 79,000 businesses across Australia, Canada, Ireland, New Zealand, and the UK was conducted by HR firm The Peninsula Group. The research found that employers in Australia and New Zealand are the most likely to…