Business News

AIB has paid €390 million to the Minister for Finance in what represents the final step in the State’s exit from the bank. The payment was for the cancellation of around 271 warrants in the bank. This gave the Minister the right to to buy AIB shares at a fixed price of €6.75, a 14%…

The European Central Bank is all but certain to leave interest rates unchanged for a third meeting in a row today, enjoying a rare period of low inflation and steady growth even in the face of turbulence caused by shifting trade relations. The ECB cut rates by a combined two percentage points in the year…

Shares in PTSB have surged over 20% after the State-controlled bank announced it has put itself up for sale. The bank said its operations, products and services will not be affected by the move, and it will continue to support and service customers as normal. The board said it believes launching a so-called Formal Sales…

Revenue has said it has written to over 1.5 million property owners to advise them they must file a local property tax valuation ahead of next week’s deadline. The head of Revenue’s local property tax branch, Katie Clair, said details for over 550,000 valuations have been submitted ahead of 7 November. Speaking on RTÉ’s Morning…

An Irish technological university has been the victim of a €98,500 online scam concerning a fraudulent email that resulted in a legitimate payment to a supplier going to a rogue bank account. That is according to the 2024 annual report for the Technological University of the Shannon (TUS), which was formed in 2021 following the…

Around 150 employees at Amazon in Ireland are set to be impacted as a result of job cuts at the company, RTÉ News understands. The tech giant today announced it will reduce its global corporate workforce by about 14,000 people, in a major shakeup driven in part by adoption of artificial intelligence that will result…

Over 150,000 premises across the country have now been connected to high-speed fibre broadband under the National Broadband Plan (NBP). It takes the number of homes, farms, and businesses that can order the high-speed internet connection to more than 420,000, which surpasses the 2025 end-of-year target. National Broadband Ireland (NBI), the company delivering the NBP,…

It has not yet clear how many passengers were affected by the data breach relating to boarding passes issued for flights during August, but RTÉ News understands it may be in the hundreds of thousands. In August 3.8 million passenger journeys were made on flights through Dublin Airport. It has not been revealed yet what…

This week the Central Statistics Office published the latest figures on wholesale electricity prices. These are the prices suppliers pay to acquire the energy themselves, not what they charge consumers. The figures showed that wholesale electricity prices fell by more than 16% in the year to September. Furthermore, the CSO said between August and September…

There has been a significant decline in confidence in the Irish economy among businesses operating in the ‘experience economy’, according to a new survey. The sentiment study, carried out by employers group Ibec, shows that 49% of businesses are now less confident about the economy, compared to 28% six months ago. Over 70 companies operating…