Business News

Irish M&A tumbles as US gets tough on controversial deals

The value of Irish M&A has plunged 86pc since the start of this year, with deals worth €4.1bn announced in the year to date compared to almost €29bn in the same period last year. Read more

Offshore banks rebuked in Central Bank warning shot

The Central Bank has issued a rebuke to a number of international lenders operating in Ireland for failing to meet regulatory obligations – in a sign of the watchdog’s greater focus on the sector following the fallout from the financial crisis. Read more

Investors take €1.25bn of government debt in bond sale

Investors snapped up the sale of €1.25bn of government debt yesterday underscoring the robust demand for Irish bonds amid growing unease over the French presidential elections and receding hopes of any imminent change to the European Central Bank’s monetary policy. Read more

Our ‘Phoenix’ economy will be more myth than miracle if wages don’t rise with rents

You may not have noticed it but you are living through an economic miracle – apparently. The chief economist of the Central Bank, Gabriel Fagan, introduced the country to a new economic term last week called a “Phoenix Miracle” which is how he described Ireland’s rapid economic recovery since the depths of the recession. Read more

Unemployment rate ‘to fall below 6pc’ by the end of the year

The unemployment rate is due to fall below 6pc by the end of this year, according to updated Government forecasts. Read more

New rules may make switching mortgages easier

The Central Bank said it was considering imposing new rules on banks to make it easier for mortgage-holders to switch to another lender to reduce the cost of their repayments. Read more

Providence reports €20.5m loss as exploration firm looks to new oil prospects

Providence Resources has announced losses of €20.5m for 2016 while operating losses for the period were €18.8m, an increase of €5.7m from 2015. Read more

Record level of data privacy complaints made to Data Protection Commissioner

There has been a record number of data privacy complaints in Ireland over the last year, new figures from the Office of the Data Protection Commissioner show. Read more

€500,000 pay cap could be waived for new BoI boss

FINANCE Minister Michael Noonan has indicated that he won’t block Bank of Ireland offering more than the €500,000-a-year pay cap to attract a replacement for outgoing CEO Richie Boucher. Read more

No EU country has claimed on €13bn Apple tax – Noonan

No European country has made a claim on the back taxes that Apple allegedly owes to Ireland, Finance Minister Michael Noonan has said. Read more