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Consumer sentiment recovered in August from a near two-year low as concerns about the impact of tariffs on European Union exports to the US appeared to ease, a survey showed today. The Credit Union Consumer Sentiment Survey improved to 61.1 in August from 59.1 in July. The reading is below the 72.1 level posted in…

German economy shrank 0.3% in second quarter as US tariffs slowed exports Germany’s economy shrank by 0.3% in the second quarter compared with the first three months of the year, as demand from its top trading partner the US slowed following months of buying ahead in anticipation of US tariffs. The statistics office today revised…

New figures from Worldpanel by Numerator show that grocery inflation continued to rise in August, increasing from 5.43% to 5.86% now. Today’s figures show that shoppers contributed an additional €68.2m to the grocery market’s overall performance in August, due to several festivals, sell-out concerts and the Galway Races. Take-home value sales rose 6.2% over the…

Dutch online bank Bunq has received a €2.6m fine for failures in its money laundering controls, Dutch central bank DNB said today. Bunq said it disagreed with DNB’s decision, to which it has formally objected. DNB said Bunq was fined in May for “serious shortcomings” in four cases between January 2021 and May 2022, in…

Senior officials have warned ministers that Ireland’s rapid growth in data centres is using up electricity capacity and adding to the risks around energy costs and climate targets. In a confidential memo issued in November last year, the Secretary General at the Department of Public Enterprise, NDP Delivery and Reform (DPER) said that soaring electricity…

The US and the European Union agreed a joint statement on the framework trade deal struck at the end of July to end months of uncertainty for industries and consumers. Here are the main elements of the statement, produced after weeks of wrangling, spelling out what both sides have agreed to. EU to eliminate tariffs…

New figures from the Central Statistics Office show that the estimated number of people in employment in the second quarter of this year stood at 2,818,100, an increase of 2.3% compared with the same time a year ago. The CSO said the 2.3% rise in the number of people in employment was equivalent to 63,900…

Government borrowing in the UK slowed to a lower-than-expected £1.1 billion in July, providing some relief for Chancellor Rachel Reeves in the run-up to the autumn budget. The Office for National Statistics said the figure, which was £2.3 billion less than the same month a year earlier, is the lowest July borrowing figure for three…

US technology shares are showing signs of vulnerability after a massive run, which has some investors pointing to overdone AI-driven gains while funds have taken steps to position away from the high-flying sector. Investors are looking to de-risk portfolios or lock in profits during a seasonally difficult period for stocks. Tomorrow’s looming speech by US…

New figures from the Central Statistics Office show that property prices registered monthly growth of 0.9% in June, the highest rate since November last year. Home prices across the country grew by 7.8% in the year to June, unchanged from the rate of growth the previous month, the CSO added. The CSO said the median…