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Smurfit Kappa posts 16% drop in first quarter profit
Smurfit Kappa shares rose this morning after its first quarter core profit fell sharply year-on-year but was higher than the final quarter of 2023 when it had signalled a dip in demand for packaging was at an end. Smurfit Kappa, Europe’s largest paper packaging producer, posted a 16% year-on-year fall in core profit to €487m…
Read MoreNew targets for female representation at senior levels
Balance for Better Business (B4BB), an independent review group established by the Government, has today launched a new strategy, targets and roadmap to improve gender balance at board and leadership level among businesses in Ireland. The group has set a new target for organisations to exceed 40% female representation on boards and leadership teams in…
Read MoreTrade unions to mark International Workers’ Day with Dublin event
Trade unions will mark May Day today which is celebrated as International Workers’ Day. A rally and march will be held this evening at the Garden of Remembrance in Dublin. Ireland’s first ‘Trade Union Week’ began on Monday and includes a series of events to promote union membership. As part of the campaign, the Government…
Read MoreManufacturing activity deteriorates amid fall in new orders
Activity in the manufacturing sector deteriorated again in April, new data shows. The latest AIB Purchasing Managers Index shows that the fall last month was the sharpest rate of decline in nine months. The headline index dropped from 49.6 in March to 47.6. Readings above 50 indicate overall growth in activity. The drop in the…
Read MoreEuro zone grows more than expected in Q1 after recession
The euro zone economy grew by more than expected in the first quarter of 2024, buoyed by a return to growth for Germany and strong expansion in Spain, preliminary data from the European statistics agency Eurostat showed today. Gross domestic product increased by 0.3% quarter-on-quarter for a 0.5% year-on-year rise, compared with market expectations that…
Read MoreBank of Ireland raises net interest income guidance on fewer rate cuts
Bank of Ireland has today lifted its net interest income guidance for 2024 to reflect its revised expectations that there will be one fewer round of central bank interest rate cuts this year. The country’s biggest lender said in a trading update that it expects 2024 net interest income to be 3% to 4% lower…
Read MoreInflation rate slows to 1.6% in year to April – flash CSO reading
The latest “flash” estimate of inflation from the Central Statistics Office shows that the annual rate slowed to 1.6% in the year to April from a rate of 1.7% in the year to March. The CSO said this compares to a rate of 2.4% in the EU Harmonised Index of Consumer Price inflation (HICP) for…
Read MoreIreland’s first Trade Union Week gets under way
Ireland’s first Trade Union week begins today. It will see thousands of workers across the island taking part in events and activities over the next seven days. The initiative is part of an Irish Congress of Trade Unions’ (ICTU) campaign to promote trade union membership. There will be activities in schools, colleges and universities, as…
Read MoreClaims related to uninsured drivers rose 11% last year – MIBI
The number of claims related to accidents caused by drivers who were either uninsured or untraced rose 11% last year. The Motor Insurers’ Bureau of Ireland said 1,927 claims were received during the year, up 187 on 2022. The largest number of claims came in Dublin where there were 822, followed by Cork which recorded…
Read MoreKBC Ireland to return banking licence to Central Bank
KBC Bank Ireland will return its banking licence to the Central Bank of Ireland next week, in its last act before exiting the Irish market. Three years after announcing its intention to leave Ireland, the bank confirmed that it had received approval from the European Central Bank to return the licence on Tuesday, April 30.…
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