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ICTU warning over reduced redundancy for workers on PUP

Hundreds of thousands of workers could lose out on redundancy payments if their employment is terminated because time spent claiming the Pandemic Unemployment Payment will not count when calculating entitlements.  The Irish Congress of Trade Unions has urged the Government to reform employment law so that the period spent on the PUP will count towards redundancy […]

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Decision time on Ulster Bank’s future draws near

This week could be a big one for Ulster Bank’s 2,800 employees in the Republic of Ireland, its 1.1 million customers, the Irish banking market and the economy in general. After months of speculation about the possible outcome of a strategic review of Ulster Bank’s Republic of Ireland operations by its parent NatWest, clarity could […]

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Are banks about to start charging us for our savings?

It may be hard to believe for those who availed of it, but it’s 20 years since Ireland’s arguably most famous and controversial savings scheme was launched. In an attempt to encourage people to take some money – and a bit of heat – out of an economy that was starting to boom, the then […]

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Euro zone growth in 2021 to rebound less than expected

The euro zone economy will rebound less than earlier expected from the coronavirus slump this year as a second wave of the pandemic put economies in new lockdowns, the European Commission said. But it added that growth in 2022 will be stronger than earlier thought.  The Commission forecast economic growth in 19 countries sharing the euro […]

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Irish economy set to grow by 3.4% in 2021 – Commission

Ireland’s overall GDP growth is projected to come in at 3.4% in 2021 and is set to reach 3.5% in 2022 on the back of strong private consumption, exports and a recovery in investment. This is according to the European Commission’s Winter 2021 Economic Forecast, published today.  The Commission said the Government’s extended income subsidy schemes […]

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UK can’t have equivalence and divergence – McGuinness

The European Union will strive for close co-operation with Britain on financial services, the EU Financial Services Commissioner Mairead McGuinness has said. But she said London cannot expect “equivalence-based” access to the EU financial market if it diverges widely on rules. Yesterday, Bank of England Governor Andrew Bailey urged the EU not to pick a […]

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People on PUP facing reduced tax credits when they return to work

The Director of Public Policy at Chartered Accountants Ireland has said Revenue will collect the tax owed on the Pandemic Unemployment Payment (PUP) for 2021 by reducing people’s tax credits when they return to work. Brian Keegan said that this is the normal course of events for most social welfare payments. But it will come as a […]

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88% of online shoppers buy from non-Irish sites – PayPal

88% of Irish consumers who shop online bought from websites outside of Ireland during the last year, according to research carried out by PayPal. The study involving more than 1,000 consumers in Ireland found that almost four in five (78%) of those who bought from websites outside of Ireland spent with UK retailers during this time. […]

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Business leaders concerned at pace of Covid-19 vaccine rollout – IoD

33% of businesses say a slow roll-out of the Covid-19 vaccination programme is the single biggest risk facing their organisation, according to new research by the Institute of Directors (IoD) in Ireland. An extension of Level 5 restrictions beyond next month is seen as the second biggest risk at 23%. According to the research, 78% of business leaders believe […]

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Irish banks ‘latecomers’ on digital services – Deloitte study

Irish banks lag behind their global counterparts when it comes to their digital services offering. This is according to a study of banks globally carried out by professional services firm, Deloitte, which is based on input from 5,000 customers of around 320 financial institutions worldwide. The Digital Banking Maturity Study places Ireland in the last […]

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