Categorized as: Syndicated News

Brexit the big cloud in bank’s forecasts for jobs and growth

THE Central Bank has laid out a rosy economic forecast, with continued growth and tens of thousands more people in work over the next three years.

However, it warned that a hard Brexit would damage the country – and even a soft Brexit would slow growth substantially for an economy that is more exposed to Britain than any other.

The bank said a no-deal Brexit would potentially reduce growth by …

Iseq hits two-year low as market volatility returns

THE Iseq index of Irish shares slumped to its lowest level since November 2016, mirroring moves in European shares as investors moved to shed risk.

The market was gripped by turbulence for a second consecutive day, with sharp falls at heavily weighted stocks almost pushing the index through the 6,000 level.

Cement giant CRH – the most heavily weighted stock on the index – lost more than 3pc yesterday, while …

150,000 self-employed workers get big gains

THE self-employed have emerged as major gainers from the measures announced.

Those who work for themselves will be able to earn more before paying tax, will get a new entitlement to Jobseeker’s Benefit if they lose their jobs, and have escaped any increase in social insurance contributions.

The changes are set to benefit some 150,000 people, the Dáil was told.

The earned income credit will rise by €200 to €1,350. …

Multinationals hit with surprise tax on assets exiting State

Multinational companies (MNCs) moving assets offshore to another tax jurisdiction now face an exit tax of 12.5pc as a result of Budget 2019.

The new measure, which took effect from midnight last night, will tax unrealised capital gains where companies migrate residence or transfer assets offshore.

The “big surprise” from the Budget follows sweeping changes to the US tax code last year aimed at luring foreign intellectual property and services …

The key points from Budget 2019

The Finance Minister described it as a “caring” budget that will secure Ireland’s future.

He spent some 75 minutes outlining the budget with spending plans amounting to 66.5 billion euro

Here are some of the key points from Budget 2019:

– Spending on health will increase by a billion euro which brings the total budget for the Department of Health to 17 billion euro.

– Some 110 million euro will …

No SMEs have taken up shares deal: IPSA

A share option scheme for Irish SMEs launched as part of Budget 2018 has had no uptake and needs to be modified, according to an industry group that lobbied for it last year.

The Key Employee Engagement Programme (Keep) is supposed to help small and medium enterprises (SMEs) hold on to talent by granting workers share options in the business without being hit with punitive taxes.

But there’s no evidence …

China shares weigh on regional markets despite Central Bank support

Shares in Asia slumped Monday as China’s markets stumbled in their first trading day after a one-week holiday even though Beijing’s Central Bank increased liquidity to offset the impact of an escalating trade dispute with the United States.

European markets were also set to weaken, with financial spreadbetters expecting the FTSE to open 0.07pc lower, Frankfurt’s DAX down 0.03pc, and Paris’ CAC down 0.1pc.

The People’s Bank of China (PBOC) …

Startup Diary: Why it’s crucial that market demand exists for your startup

This week I’m going to write about the most difficult slide in your entire pitch deck. This particular slide outlines the evidence that you have a real business, by showing that a market demand exists.

Even if you have a real business, with real customers, and real traction, it may not be enough, especially for later rounds of funding.

At the seed stage, which is where we are now, unless …

Comment: Economic data and sentiment are becoming detached

SMEs are the engine of the Irish economy. They make a major contribution to economic development and employment. Their performance is very closely linked with overall economic health, including to consumer sentiment – because people’s confidence in their own finances and purchasing ability influence the performance of SMEs.

Businesses’ confidence is equally important; the more confident business owners and managers are, the greater the prospects for their companies, for overall …

US Reit gets go-ahead for €400m Dublin data centre

A MAJOR stock market-listed US real estate investment trust, CyrusOne, has been granted planning permission for a massive €400m data centre in Dublin.

It will be the Dallas-based company’s first data centre project in Ireland and will significantly boost its global data centre footprint.

Nasdaq-listed CyrusOne, with a $6.6bn (€7.5bn) market capitalisation, currently has more than 40 data centres across the United States, Germany, the UK and Asia.

The planned …

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