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Euro zone inflation drops more than expected in relief for ECB

Euro zone inflation eased more than expected last month as underlying price growth also slowed, fuelling a debate about the need for further European Central Bank rate hikes beyond an increase later this month. Inflation in the 20 nations sharing the euro eased to 6.1% in May from 7% in April, below expectations for 6.3%…

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Ireland is on course to miss 2030 climate targets, says EPA

Ireland is on course to miss its 2030 climate targets by a large margin unless all sectors, including agriculture, electricity and transport, rapidly deliver further emission reductions and sustain this delivery into the future, according to the latest report from the Environmental Protection Agency (EPA). The EPA has analysed how far emissions would fall if…

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Demand for new-build homes up 114%, Daft report shows

Demand for new-build homes jumped 114% in May when compared to the same month last year, according to new figures from property listings website Daft.ie. When all homes were taken into account, the data shows that demand nationwide was 17% higher than it was 12 months ago. Demand for homes in Dublin saw the strongest…

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Government approves pay increase for employment support scheme staff

The Government has approved a 5% pay increase for more than 1,600 supervisors and team leaders of employment support schemes. The pay deal will benefit employees of organisations that manage Community Employment Schemes, Tús, the Rural Social Scheme and Job Initiative. The workers will see a pay increase of 3% from 1 April 2023, which…

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Euro zone lending growth slows again in April

Bank lending to euro zone companies and households slowed again in April, continuing the steady decline since last autumn as the economy stagnated and rapid rate hikes dented demand for credit. This is according to the latest European Central Bank data today. Lending to businesses in the 20 nation currency bloc expanded by 4.6% year…

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ECB warns of hit to top European banks if funds run into trouble

The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, the European Central Bank has warned. The ECB study looked into the risk of spillovers from so-called shadow banks – such as funds and other financial companies…

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Home prices may slump in euro zone as rates rise – ECB

Home prices in the euro zone may be headed for a “disorderly” decline as high mortgage rates make purchases unaffordable for households and unattractive for investors, the European Central Bank said today. It was one of several risks flagged in the ECB’s Financial Stability Review (FSR) along with higher borrowing costs and slower growth hurting…

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Excise duty on fuel to increase from midnight

Motorists can expect to see a jump in the cost of petrol and diesel from midnight tonight as cuts to Government excise charges begin to reverse. Petrol prices will rise by six cent per litre, while diesel will go up by five cent. Agricultural diesel will also go up a cent. In March last year,…

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Engineering and construction roles among hardest to fill jobs – report

Engineering and construction related jobs are some of the hardest positions for employers to fill, according to a new report from hiring platform Indeed. The analysis looked at Irish job postings from 1 January to the end of April this year to determine which positions were most likely to remain open for over 60 days.…

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Consumer confidence hit 14-month high this month

Consumer confidence here hit a 14-month high this month, as concerns eased about the economic outlook. Hopes for additional Government measures to offer some respite from price pressures may also have boosted sentiment, the Credit Union Consumer Sentiment Index suggests. Confidence continues to be fragile though, with a majority of consumers still feeling that the…

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