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European banks’ profitability gap shows big cost cuts needed – study

Europe’s banks need to cut costs by a fifth and simultaneously grow revenues by 15pc just to get their profitability to match their cost of capital, a study by professional services firm EY said. European banks’ return on equity (RoE), […]

Central Bank gets the blame as construction growth decreases

The Central Bank’s new mortgage deposit rules have been blamed for contributing to a sharp fall in the growth of construction, with house building stagnating, a survey shows. But the slowdown has spread into commercial and civil engineering as well. […]

Our split-personality mindset has paved the way for Irish economic problems

In urban Ireland, while evidence of poverty is there for all to see, there are also plenty of signs of economic recovery. However, Eoin O’Leary of the School of Economics in University College Cork remains to be impressed. Ireland is […]

Ireland ‘top global destination’ for US investment

Ireland has become the top destination for US multinational investment and the economic bond between the countries is only likely to intensify, according to a leading Wall Street economist. In a report on the economic relationship between Ireland and the […]

ECB to start quantitative easing as it raises growth forecast

The European Central Bank will launch into quantitative easing next week having increased its economic growth forecasts for this year and next. President Mario Draghi said the first bond purchases with new money would take place on March 9. The […]

JIM POWER: Evidence of recovery is compelling

There are still many out there who either refuse to admit that a compelling recovery is under way in the economy or simply do not believe it. The fact is that the evidence is there for all to see and […]

Eurozone business activity picks up pace

Price cutting and a weaker currency helped eurozone business activity accelerate in February, according to surveys published just before the European Central Bank embarks on a trillion-euro stimulus programme. Survey compiler Markit said the surveys pointed to first quarter GDP […]

Unemployment rate drops to 10.1% in February

Ireland’s unemployment rate declined another 0.2% in February, to reach 10.1%, its lowest level since 2009 — the last time the percentage figure was in single digits. Latest data, published yesterday by the CSO, showed that 4,300 people came off […]

Services sector continues to expand

The country’s services sector is continuing to expand in the early part of the year with strong growth across all segments. The domestic economy helped drive the sector’s growth last month while improving client confidence also translated into new orders […]

Exchequer returns fuel hope of beating deficit targets

Latest exchequer returns have raised hopes Ireland may beat its 2.7% of GDP budget deficit target for 2015. The Department of Finance yesterday reported the generation of nearly €6.74bn in tax revenue for the first two months of this year, […]

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