Business News

Preliminary figures from the Central Statistics Office show that average weekly earnings for the second quarter of 2024 reached €963.17, an increase of 5.6% or €51.43 compared with the same time last year. The CSO said that average weekly earnings rose across all 13 sectors in the year to the second quarter, with the largest…

Household electricity bills could be set to rise by up to €8.42 a month over the coming year. The increase is the result of the energy regulator setting network charges for the period. The Commission for the Regulation of Utilities (CRU) said network charges are needed to enable ongoing investment to take place in the…

Just over 5,300 mortgages were approved in July, the latest figures from Banking and Payments Federation Ireland show. First time buyers continue to drive the bulk of the activity, accounting for almost two thirds – 61.9% – of all approvals in the month. Just under a quarter of approvals were granted to those looking to…

Growing signs of lacklustre growth and risks emerging to the job market overshadowed a gathering of global policymakers at the US Federal Reserve’s annual Jackson Hole conference, highlighting the changing trajectory of monetary policy as US and European central banks eye cutting interest rates. Even as the focus of US and European central bankers shifts…

More than four out of ten people did not make full use of their full holiday entitlements last year, according to new research on annual leave. The survey undertaken by FRS Recruitment shows that almost one in five people did not take five days of annual leave or more, which in business terms represents a…

Thousands of mortgage holders who have their loans with non-bank lenders could be set to be see their mortgage rates leap by as much as 3.5 percentage points later this year. The increase will come when their current low fixed rates come to an end and they are forced to choose from one of the…

The employment rate in Ireland has increased almost 3% to over 74%, while female participation is at a record high. New figures from the Central Statistics Office show that over 2.7 million people over the age of 15 and uder 65 were in employment between April and June. That is 71,000 more than the same…

The European Central Bank has room to cut interest rates possibly two more times this year as inflation remains broadly on the declining path policymakers envisaged, ECB policymaker Martins Kazaks said. The ECB cut rates for the first time after a record string of hikes in June and markets expect a second move on 12…

Almost a third of businesses in Ireland have money put aside to pay for ransoms arising from ransomware attacks, a new survey has found. Half of the firms surveyed admitted their defences had been breached by a ransomware attack in the last year. While more than half said they had fallen victim to social engineering…

Parents of young adults attending third-level expect it will cost them €9,511 this year, when in reality if the student is living in rented accommodation they will need €16,100 – almost double the figure five years ago, new research has found. However, if the child is living at home while going to college, the cost…