Categorized as: Syndicated News

ECB interest rate cut talk lifts shares, pressures euro

Increased prospects of a European Central Bank interest rate cut this year sent the euro to a six-week low on Monday and boosted the region’s share markets, which extended gains on robust manufacturing data.

Euro zone factory PMI points to broad-based economic recovery

Euro zone manufacturing activity accelerated in October as new orders increased for the fourth month in a row. However strong competition left factories with little room to raise prices, a survey showed today.

Poor week for Irish banking’ says New Beginning

This week is a “very poor week for Irish banking”, according to an organisation which provides free legal representation for mortgage holders in arrears.

Vincent Martin co-founder of New Beginning said the new insolvency regime “is the only comfort” this week because it will provide “a chance for ordinary debtors to recover”.

New €125m fund for medium-sized firms launched

A new €125m public-private fund for mid-size businesses seeking €2m or more has been announced.

€25m is being provided by the state, with the rest filled by banks and other financiers – including AIB and foreign investors like the European Investment Fund and US insurance subsidiary GoldPoint.

Two-speed housing market evident in CSO figures, as Dublin house prices move up again

The price of property in Dublin has continued to accelerate, figures from the Central Statistics Office show.

The latest CSO property price index shows the cost of buying a home in the capital has risen by 12.3% over the past year.

Barclays’ third quarter profits fall 26% on investment bank slump

Barclays said it was co-operating with regulators investigating the possible manipulation of currency trading by major banks, deepening scrutiny of the bank’s practices as it grapples with a slump in investment bank income.

Barclays, Britain’s third-biggest bank by market value, said it was reviewing its foreign exchange trading “covering a several year period”

Early start for home renovation scheme

The introduction of the new tax incentive for home improvement work has been brought forward from January 2014 to tomorrow.

Permanent TSB plans €6.9 billion UK mortgage disposal

Bloomberg reports that Permanent TSB is planning to sell its €6.9 billion UK residential mortgage loan book next year.

The newswire cites two unnamed people “with knowledge of the matter”.

Welfare recipients to get ‘P60’ statement of income

EVERY social welfare recipient will soon be able to get a list of all the amounts paid to them in benefits, making it easier to apply for other payments.

Similar to a P60 tax certificate, the Department of Social Protection is working on a new slip detailing an individuals income from various schemes for the previous year.

ACC Bank to close all branches and business centres to the public

ACCBank is to quit the Irish market with the loss of about 180 jobs.

The Irish subsidiary of Dutch banking giant Rabobank said that next year it will close all its branches and business centres to the public and give up its banking licence.