Business News

Oil prices slipped today as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 82 cents, or about 1%, at $81.37 a barrel, while US West Texas Intermediate crude futures slipped 74 cents,…

Advertising spend is predicted to grow by 4.1% this year, according to marketing advisory firm Core. That marks a slightly slower pace of growth than the 4.6% seen in 2023, however it would bring the total amount spent here to €1.534 billion. The majority of that money – 64% – is going towards digital channels,…

The Irish Congress of Trade Unions (ICTU) is recommending that unions in the private sector should seek to secure pay increases in the range of 4% to 6% in 2024, where affordable. The Private Sector Committee of the ICTU said its pay bargaining guidance was based on an analysis of the prevailing conditions in the…

A report today shows that more than one third of electricity used in Ireland last month was generated by wind power. The latest figures, published by Wind Energy Ireland, show that the amount of electricity produced by wind farms was one of the highest ever recorded for the month of January. Last year was was…

The volume and value of personal loan draw downs reached a new high between July and September last year, new data shows. The figures from Banking and Payments Federation Ireland reveal that 53,404 personal loans were drawn down during the three month period, valued at €552 million. This is the highest volume and value recorded…

The over supply of office space in Dublin could continue until the end of 2026 or start of 2027, new research suggests. The study by BNP Paribas Real Estate Ireland finds a delay in completing buildings last year has now spilled into this year. This has led to excess supply in the market which is…

Rents in new tenancies went up faster than in existing tenancies, according to new figures from the Residential Tenancies Board (RTB) for July to September last year. National average rents for new tenancies were €1,598 per month, up 11% on the previous year, while existing tenancies rose 5.2% to a national average of €1,357. Breaking…

Minister of State Jack Chambers has said he believes the personal criticism of Minister for Transport Eamon Ryan by Ryanair CEO Michael O’Leary was “very unfair”. “I think that’s unwarranted to personally criticise a minister in that way,” Mr Chambers said. He said however that he fully supported the expansion plans from the daa, which…

Employers in the tech sector are facing challenges when it comes to wage pressures and the availability of talent. According to the 2024 Stelfox Salary Guide Survey, 70% of tech employers in Ireland say wage pressure is a major hurdle they will need to navigate in 2024, while an even greater number, 83%, are grappling…

The amount of tax collected by the State increased by almost 5% in January when compared to the same time last year, driven by strong VAT and income tax receipts. The latest figures from the Department of Finance show that overall tax revenue for the month stood at €7.8 billion. January is a VAT-due month,…