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The euro zone economy will grow slower than previously expected this year and next, the European Commission forecast today. This comes as consumer demand suffers from high inflation and the biggest economy, Germany, slips into recession this year. In its interim forecasts for gross domestic product and inflation of the euro zone’s five biggest economies,…

New figures from the Central Statistics Office show that Irish businesses continue to increase female representation at both senior executive and board level, albeit slowly. However, the number of females in Chief Financial Officer positions continues to fall. Carried out every two years, the CSO Gender Balance in Business Survey looks at female representation among…

Recruitment firm Hays Ireland has said that new research it has conducted has revealed a disconnect between employers and older workers. The company said its survey of 1,600 employers and employees shows a notable communication gap between the retirement plans of older workers and the strategies of employers to retain their knowledge and skills. According…

Two thirds of Irish consumers buy sustainable products sometimes or often, a new survey has found. The research by Deloitte found the level of sustainable purchasing was higher among those who considered themselves middle-income earners, at 65%. While among those who categorised themselves as lower income earners, 59% said they purchase sustainable products sometimes or…

A lack of government support for growth and innovation has been identified as a major barrier to expansion in the financial technology, or fintech, sector in a report carried out by Ibec group Financial Services Ireland. Fintech is defined as the use of new technology to improve and automate the delivery and use of financial…

Oil prices eased today as a stronger US dollar and economic concerns in China weighed on the outlook for fuel demand, but extended supply cuts by Saudi Arabia and Russia helped keep Brent above $90 a barrel. Brent crude fell 15 cents, or 0.2%, to $90.50 a barrel in early trade, while US West Texas…

The euro zone economy grew by a mere 0.1% in the second quarter, lower than previously estimated, official data showed today. The European Union’s Eurostat data agency had previously put growth at 0.3% between April and June compared with the previous quarter in the countries that use the euro currency. Eurostat also revised its first-quarter…

Inflation rose at an annual rate of 6.3% in August, up from 5.8% in July, according to the latest Central Statistics Office figures. Inflation took a step in the wrong direction last month with the increase mostly driven by higher mortgage interest rates and higher prices for home heating oil and motor fuels. The recent…

A new report reveals that mobile phone users are sending less texts and making less calls, but using more data. New figures from the Commission for Communications Regulation, ComReg show on average people make 145 minutes of calls every month, down over 26% on the same time last year. The amount of text messages being…

The main Irish bank and non-bank lenders have agreed a new set of criteria designed to provide clear guidance to mortgage holders whose loans are managed by credit servicing on how they could potentially switch their loan to another provider. The criteria lay out agreed requirements that borrowers whose mortgages are with credit servicers would…