Archive for November 2023

The Data Protection Commission (DPC) has warned the Government that new proposed structures for the organisation could slow down the pace of major data protection inquiries involving high-tech companies and other multinationals. In a pre-budget submission, the DPC said there “simply aren’t enough people” if plans for a new system of governance involving multiple committees…

The US Federal Reserve is prepared, if needed, to increase interest rates further in order to bring inflation down to its long-term 2% target, Fed Chair Jerome Powell has said. “We know that ongoing progress toward our 2% goal is not assured: Inflation has given us a few head fakes,” Powell told a conference in…

A slight improvement in business sentiment has been captured in the latest European Economic Survey carried out on behalf of Eurochambres, of which Chambers Ireland is a member. The outlook among businesses in Ireland for the year ahead has been described as one of “cautious optimism” with the majority of firms putting the emphasis on…

There has been a surge in the volume and value of car loans being issued here, according to the latest Personal Loans Report from Banking and Payments Federation Ireland. The report, which covers the three month period to the end of June, captured a year on year increase of 36% in the volume of car…

The European Central Bank is seeing some progress in its efforts to push down underlying inflation but this is not yet enough, ECB chief economist Philip Lane told a conference in Riga today. Professor Lane said he does not take a lot of comfort from the recent rapid fall in overall inflation because this is…

Rapid wage growth in the euro zone could keep inflation elevated longer and the European Central Bank should hold interest rates at or near record highs during next year to extinguish price pressures, the International Monetary Fund said today. The ECB broke a streak of ten rate hikes in a row last month, fuelling market…

Tánaiste Micheál Martin has said that he is hopeful that Chinese authorities will reach a decision on the resumption of Irish beef exports to China “within a matter of months”. Exports to China have been stopped after a case of atypical BSE was detected in a bovine animal in Ireland. Mr Martin, who is on…

Half of the world’s 2,000 biggest listed companies have set a target to get to net-zero emissions by mid-century, but just a fraction meet tough United Nations guidelines for what constitutes a quality pledge, a report today shows. Net Zero Tracker, an independent data consortium including Oxford University, said corporate targets from Forbes2000 index companies…

The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed today, suggesting there is a growing chance of a recession in the 20-country currency union. The economy contracted 0.1% in the third quarter, official data has shown, and today’s final Composite Purchasing Managers’…

Competitiveness and the cost of doing business in Ireland are among the top issues for the manufacturing sector, new data shows. However, the report by business group Ibec reveals that manufacturers are cautiously more optimistic about the business environment compared to last year. 67% of businesses surveyed said attracting and retaining talent was a major…