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Energy provider PrepayPower has said that it will increase it gas and electricity prices from 1 October. Electricity prices are to rise by 19%, while gas prices will increase by 29%. The increases will add an additional €339 to the average electricity bill and €428 to the average gas bill. The company, which has 170,000…

The pace of increase in input and output costs for manufacturers here eased to the lowest level in months in August, offering some slight relief to firms who could only eke out modest growth overall. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) fell to 51.1 in August from 51.8 in July, the lowest…

The competition watchdog has said it is concerned by the impending increase in the concentration levels of the retail banking sector in Ireland as a result of the exits of KBC Bank Ireland and Ulster Bank. The Competition and Consumer Protection Commission (CCPC) said that while non-bank lenders have brought some new products to the…

New figures from the Central Statistics Office show that the unemployment rate rose slightly in August, rising to 4.3% from the 21-year low of 4.2% a month earlier. The jobless rate has bounced up and down on a monthly basis this year but the falls have been greater in a tightening labour market and reduced…

Euro zone inflation rose to another record high this month, beating expectations and solidifying the case for further big European Central Bank rate hikes even before prices peak near the turn of the year. Consumer price growth in the 19 countries sharing the euro currency rose to 9.1% in August from 8.9% a month earlier.…

US football analytics company Pro Football Focus (PFF) has announced its expansion into Europe with a diversification of its core products to service the US and European soccer market with its first club-focused product set to launch next month. The expansion is expected to create 21 remote full time and 175 seasonal analyst roles in…

Businesses are being advised to act early if they need to establish new banking arrangements in the months ahead. With Ulster Bank and KBC Bank Ireland leaving the market here, thousands of individuals and businesses are being given six months to close their accounts with the departing banks and move their custom to another institution.…

The Oireachtas Joint Committee on Environment and Climate Action will hold a hearing today on energy security amid growing concern over the supply of electricity. Committee Cathaoirleach Green Party TD Brian Leddin said there are now “…fears of supply restrictions and even blackouts this winter”. The energy crisis in Europe has intensified in recent weeks,…

There was a slight improvement in confidence among consumers and businesses in August, according to the latest Economic Pulse from Bank of Ireland. However, the uplift in mood was from a very low base and the overall Pulse reading sits at well below where it was last year. Consumer confidence remains subdued at just under…

Half of prospective home buyers say the rise in the cost of living has affected their ability to buy a property, according to new research by property website MyHome.ie. The survey of almost 3,000 people carried out in August shows that inflation is having a significant effect on the homebuying, rental and home renovation markets.…