Archive for May 2024

Wholesale electricity prices – the prices that suppliers pay to generators – fell nearly 30% in the 12 months to April, the latest Central Statistics Office figures show. Wholesale electricity prices had rocketed in the period after Russian invasion of Ukraine, and today’s figures show they have fallen back nearly 60% since April 2022 and…

Europe’s landmark rules on artificial intelligence will enter into force next month after EU countries today endorsed a political deal reached in December, setting a potential global benchmark for a technology used in business and everyday life. The European Union’s AI Act is more comprehensive than the US light-touch voluntary compliance approach while China’s approach…

Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this year. UK consumer prices rose by an annual 2.3% last month, down sharply from…

New car sales in the European Union rose 13.7% in April on the year for their biggest jump since last October, Europe’s auto industry body said today, after registrations fell in March. The European Automobile Manufacturers Association (ACEA) said an uptick in major markets Spain, Germany, France and Italy drove the increase, while an early…

Revenue has issued notices to 115,000 employers reminding them of their obligations under the Enhanced Reporting Requirements (ERR) scheme. Since January 1st, employers who provide the remote working daily allowance, untaxed travel and subsistence payments or qualifying incentives under the small benefit exemption to their employees and directors, without the deduction of tax, are required…

A new analysis of Budget 2024 has warned that it will widen further the gap between the better off and those on the lowest welfare and work incomes. The study by Social Justice Ireland found that the temporary measures contained in the Budget are more concentrated among welfare dependent households and those at work but…

Irish food and drinks companies are generally positive about the future, despite issues with inflation, input costs and labour availability. That is according to a survey of over 100 companies undertaken by Love Irish Food and Bank of Ireland in March and April of this year. Much has been said about rising costs for businesses…

Advertised rents rose by just 0.6% between January and the end of March, new data from the property listings website Daft.ie shows. It meant that average rent sought in the first quarter was €1,836 per month, an increase of 4.9% on the same period last year. That is the lowest annual rate of asking price…

More than 400 leaders from politics, business, economics and civic life are gathering in Killarney, Co Kerry over the next three days for the inaugural Global Economic Summit. They will discuss themes including climate change, energy sustainability, health ecosystems, education, technology and artificial intelligence. The summit is a not-for-profit event which aims to develop new…

New figures from AA Ireland show a a slight fluctuation in petrol and diesel prices over the last few weeks after a sharp increase in April. The AA Ireland’s latest monthly Fuel Price Survey shows that average petrol prices rose by two cent per litre to €1.83, while diesel dropped two cent a litre to…