Archive for March 2021

The decision by Bank of Ireland to close over a hundred branches across its network highlights the digital divide that exists between the generations. The migration of banks online has been a difficult transition for many people – particularly older customers, many of whom still favour face-to-face interaction. There is a more obvious solution to the…

Decades of chronic underinvestment in key infrastructure is threatening to undermine the prospects for economic recovery, according to Ibec. Publishing its submission to the mid-term review of the National Development Plan, the business group says such under-resourcing has resulted in quality of life challenges in areas like housing, environment, health, childcare, and commuting. It says…

Exchequer returns for February show that the budgetary situation has now deteriorated by €1.7bn compared to the same period a year ago, due to the decline in tax revenue and the increase in spending. The figures will show a deficit to the end of February of €14bn on a twelve month rolling basis. The Minister…

Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the coming months, data showed today.  Prices in the euro zone rose by 0.2% on the month in January and 0.9% compared to a year earlier, in line…

Dublin remains the most popular destination for UK financial services firms looking to relocate staff or operations as a result of Brexit, according to EY. The accounting and consulting firm has been compiling a tracker of movement of services and staff at 222 financial services firms in the UK since the Brexit referendum in 2016.…

Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the Republic of Ireland and Northern Ireland.  The bank said the branches that are closing are predominately self-service locations that do not offer a counter service.  The branches…

Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in a new survey. Ireland’s minimum wage was raised to €10.20 an hour from January this year for people aged 20 and over. The rate here is recommended…

The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers are hit with negative interest rates. There are growing concerns that personal customers could be hit with negative interest rates later this year. The upcoming withdrawal of…

Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by shops negotiating new lettings in certain locations, according to agents CBRE in its latest bimonthly market report. “This is creating opportunities for those retailers that are in…