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EU countries and EU lawmakers has agreed on rules that govern how Big Tech and other companies use European consumer and corporate data, with safeguards against non-EU governments gaining illegal access. The European Commission proposed the Data Act last year to cover data generated in smart gadgets, machinery and consumer products, part of a raft…

May was the busiest month for first-time buyer mortgage approvals in both volume and value terms since the figures started being collected in 2011, new figures from Banking and Payments Federation Ireland show today. First-time buyer approvals rose by 26.4% to €926m in May, bringing the annualised value of FTB approvals to a total of…

A new study from the Economic and Social Research Institute (ESRI) shows that a third of the wages paid in the Irish economy in 2021 came from Multinational Enterprises (MNEs). The research by economist John Fitzgerald is entitled ‘Understanding the Irish Economy’. It shows that rapid growth in highly paid employment and corporate tax income…

New figures from Kantar show that grocery inflation rose by 15.8% in the 12 weeks to June 11, down on last month’s level of 16.5% and the lowest level of inflation seen so far this year. Today’s figures show that take-home grocery sales increased by 10.8% in the four weeks to June 11. Kantar noted…

The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation. Despite the relentless rise in rates over the last 18 months, inflation in many top economies remains stubbornly high.…

The Government has announced a review of the occupations eligible for employment permits under the Critical Skills Occupation List and Ineligible Occupations List. Employers and stakeholders are being urged to make a submission as part of the review process. “At a time of full employment, with over 2.6 million people at work in Ireland, it…

Over half of Irish businesses expect to increase turnover in the next 12 months and 38% expect to expand their workforce, according to the latest research from KPMG. The Enterprise Barometer reveals overall optimism among Irish businesses, with 59% of firms reporting plans to grow in the near future. 59% intend to finance their expansion…

As the holiday season begins, 27% of consumers say they cannot afford a holiday this year, compared with 23% last year and 19% in 2021, according to the last Credit Union Consumer Price Index published today. Based on a survey of 1,000 people, it finds 30% of respondents planning a holiday say cost of living…

Manufacturing activity has been in decline since July Manufacturing activity has been in decline since July Euro zone business growth virtually stalled this month as the downturn in manufacturing deepened while activity in the bloc’s dominant services industry barely expanded, a survey showed today. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the bloc, compiled…

Wholesale electricity prices continued to fall last month and are now back to levels not seen in two years. Figures from the Central Statistics Office show that prices fell by 16.2% in May compared to the previous month and fell by 26.6% compared to May last year. Overall, the wholesale price index which measures prices…