Business News

Euro zone May business growth weaker than expected – PMI

Euro zone May business growth weaker than expected – PMI

Euro zone business growth accelerated a touch this month but not as much as expected, bogged down by a deepening contraction in the bloc’s manufacturing industry which is increasingly affecting service firms.

Last month, European Central Bank President Mario Draghi raised the prospect of more support for the struggling euro zone economy if its slowdown persists.

Today’s survey is …

Oil prices set for 2019’s biggest weekly loss

Oil prices set for 2019’s biggest weekly loss

Oil rose towards $69 a barrel today after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns about an economic slowdown.

US crude inventories rose to hit the highest since July 2017, suggesting ample supplies in the world’s top consumer.

Meanwhile, worries that the US-China trade is developing …

Consumers spent €1.7 billion online in March

Consumers spent €1.7 billion online in March

New figures from the Central Bank show that there are more payment cards than people in this country, with just over six million active credit or debit cards in circulation.

In the first three months of the year, Irish people spent just over €1.7 billion using those cards – that is equivalent to the Government’s health budget for the whole year.

More than €8 of every €10 spent by shoppers on cards is still instore

More than €8 of every €10 spent by shoppers on cards is still instore

An analysis of €9 billion of retail credit and debit card transactions by AIB Bank found that 86 per cent of the purchases were made instore last year. The remaining 14 per cent occurred online, just a single percentage point increase over 2017 and two percentage points over 2016.

The statistic was contained within a presentation …

Personal injury costs threaten retail viability

Personal injury costs threaten retail viability

Retailers have hit out at the slow pace of insurance reform.

Rising personal injury awards are threatening the viability of the sector, according to Ibec’s Retail Ireland division.

Large numbers of retailers will be unable to meet the rising cost of insurance premiums unless urgent reform to the compensation system is put in place.

Retail Ireland director Thomas Burke said that it is vital …

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