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Ireland and Denmark had the highest price levels for consumer goods and services across the EU in 2021, according to Eurostat. The EU’s statistics agency published data today showing price levels here and in Denmark were 140% of the EU average. The lowest prices levels were in Romania and Bulgaria at 56% of the average.…

Lidl has today started the rollout of its first electrical truck and hydrogenated vegetable oil (HVO) heavy goods vehicle (HGV) into its logistics fleet. The pilot scheme will see the sustainably powered vehicles join Lidl’s logistic fleet at its Newbridge Regional Distribution Centre. It marks the start of the retailer’s transition from fossil fuel commercial…

AIB has sold a non-performing loan portfolio in long-term default to Everyday Finance, part of a consortium that includes Everyday, affiliates of Cerberus Capital Management and LCM Partners Limited. AIB said the €400m loan sale cuts its non-performing loan ratio to 4.4%. It added that it remains on track to reach its 3% target by…

Building insulation specialist Kingspan said today it had seen the mood in most end markets deteriorate over the last two months with order intake volume down significantly year-on-year in May and June. But orders were still up this month and last on the same pre-pandemic time in 2019. The Co Cavan-based firm said today that…

The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses. The funding is designed to help companies develop new digital products, processes and services and will allow them invest in software, new equipment, staff training, automation and Artificial Intelligence (AI). €85 million in funding will be made…

Budget fashion chain Primark will trial a Click & Collect service on children’s products in the UK but said the move should not be seen as a precursor to an online delivery offer. Parent Associated British Foods said today the Click & Collect trial will take place in up to 25 stores in the northwest…

IT, security and telecoms company HCS is investing €3.2m to double the size of its workforce and business revenues within the next three years. HCS has started its recruitment programme and will grow its workforce to 60 over the next three years. Following the investment, HCS is forecasting increased annual revenues of €9m by 2025.…

Tesco said today it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market environment “incredibly challenging”. Chief executive Ken Murphy vowed to work with suppliers to mitigate the impact of inflation as much as possible and support customers who are facing the most difficult economic conditions…

The beginning of the pandemic in 2020 brought with it an end to years of bullish economic growth. As Ireland headed into the general election, the economy was in rude health. Predictions were bright. Nobody predicted two years of Covid turbulence, followed swiftly by war in our neighbourhood. But, though Covid restrictions have eased, the…

The Government is to make €55m available to businesses to help them move away from the use of fossil fuels. The new Green Transition Fund, to be launched later, will be made up of two parts. The Climate Planning Fund for Business, worth €25m, will provide firms with funding to help them plan how they…