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The US Federal Reserve has tonight cut rates back to near zero, restarted bond buying and launched other measures from its crisis-era toolkit. The measures are part of efforts by other central banks to put the floor under a rapidly disintegrating global economy assailed by efforts to contain the escalating coronavirus pandemic. “The effects of the coronavirus will…

Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite eking out a 2% today, as investors eyed evaporating demand from the coronavirus pandemic and a production ramp-up by top producers.  Brent crude was up 70 cents, or 2.1%, at $33.92 in early trade after falling more than 7% on…

European markets posted their worst one-day drop in history today, as investors reacted to US President Donald Trump’s decision to impose restrictions on travel to the US from some countries in Europe. The pan-European Stoxx 600 had plummeted 11% by the close, with travel and leisure stocks sinking 12.8% following Trump’s announcement of a ban…

Telecoms companies have said they are equipped to handle any increase in traffic over their networks that may come as a result of more people working remotely. Many companies had already directed staff to work from home in response to the outbreak of Covid-19. Today the Government urged more employers to use remote working where possible,…

The EU will today assess the travel ban on Europe imposed by US President Donald Trump, European Council President Charles Michel said, adding: “Economic disruption must be avoided.”  Michel coordinates action by the leaders of the EU’s 27 member states. His tweet follows an overnight decision by Trump to suspend travel from Europe – but…

Europe’s main stocks indices opened higher this morning, a day after markets suffered their biggest losses in more than a decade on crashing oil prices and coronavirus fears. Shares in London and Paris had gained 1.5% in early trade, while the Frankfurt market was up 0.8%. Shares in Dublin also rallied with the ISEQ index…

Analysis by the Organisation for Economic Co-operation and Development shows that life satisfaction rose in Ireland by 5% or more between 2013 and 2018. The How’s Life report, which looks at all aspects of well-being from health and social connections to income and security, shows that since 2013 life satisfaction has either remained stable or…

The Government is to introduce emergency legislation in the Dáil to amend the rules on sick pay, which will see Illness Benefit rise from €203 per week to €305. It will be available from the first day of illness rather than after six days as at present, and conditionality will be waived to allow the…

The Restaurants Association of Ireland has urged the Government to immediately implement emergency business supports to prevent closures and job losses as the spread of coronavirus hits the industry. The association said that its members are experiencing 80% corporate booking cancellations due to Covid-19.  It said the cancellation of the St Patrick’s Day parade in…

Revenue has said it will engage with any viable business that experiences temporary cashflow difficulties as a result of exceptional circumstances such as the Covid-19 outbreak.  Collector-General Joe Howley said that Revenue is aware that when temporary cashflow issues arise for a business, it can be a worrying time in terms of the ability to…