Business News

Sterling tumbled to a record low this morning as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the limit. The British pound’s searing drop helped the safe-haven US dollar to a new two-decade peak against a basket of major peers. Sterling slumped as much as 4.9%…

A new survey shows that with households facing the prospect of even higher gas and electricity bills over the coming months, consumer confidence sank to an all-time low in September. Bank of Ireland said its Economic Pulse came in at 70.6 in September. The index, which combines the results of the Consumer and Business Pulses,…

Budget discussions continued into the early hours of this morning as the coalition leaders and the Ministers for Finance and Public Expenditure met to finalise measures ahead of tomorrow’s announcement. The party leaders and Ministers for Finance and Public Expenditure, Paschal Donohoe and Michael McGrath, will meet again this morning. This year’s Budget is set…

Oil prices fell today amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell 41 cents, or 0.5%, to $90.05 per barrel at 0325…

The Government has approved a draft bill aimed at improving family-friendly work practices and supporting women in the workforce. It is part of the Government’s plan to bring the EU’s work-life balance directive into Irish law. When the bill reaches committee stage in the Oireachtas, Minister for Children Roderic O’Gorman will introduce legislative provisions to…

The Government is to introduce broad-based measures in next week’s Budget to help tens if not hundreds of thousands of businesses with their energy bills, the Tánaiste has said. Speaking at Ibec’s President’s dinner in Dublin tonight, Leo Varadkar said there would be a particular focus on helping those in retail, hospitality, manufacturing and other…

The Tánaiste has said that farmers will be included in any scheme to reduce energy bills. Speaking at the National Ploughing Championships in Ratheniska in Co Laois, Leo Varadkar said there will be Government help with energy bills that will apply in a number of weeks. However he warned that there is only so much…

The organisation that represents the suppliers of the majority of medicines in Ireland has warned of an increasing risk of shortages due to the impact of inflation. Medicines for Ireland (MFI) said that there are currently 186 medicines listed as being in short supply by the Health Products Regulatory Authority. MFI said that without an…

Consumer sentiment tumbled to levels last seen during the global finance crisis 14 years ago as concerns about the impact of sharply higher energy bills hammered the outlook for household finances, a survey showed today. Confidence has fallen in seven of the last eight months in line with inflation climbing to a near 40-year high.…

The State pension age will remain at 66 and people will be offered the choice to work until 70 in return for higher payments, Minister for Social Protection Heather Humphreys has confirmed. Long-term carers will also be provided with a pension for the first time. The Government has also committed to explore a new scheme…