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‘Technology can create more jobs than it eliminates,’ insists Varadkar as firm announces 600 new roles

‘Technology can create more jobs than it eliminates,’ insists Varadkar as firm announces 600 new roles

Taoiseach Leo Varadkar has insisted new technology will create more jobs than it eliminates but says that up to 40pc of today’s jobs will be taken by robots in the future.

Mr Varadkar was speaking in Limerick as American medical device solutions firm Edwards Lifesciences Corporation announced a €160m investment in a new technology …

Tourism industry looking to woo more Chinese visitors

Tourism industry looking to woo more Chinese visitors

Irish tourist service providers are being urged to take steps to attract more visitors from China in order to offset any drop in numbers coming here from the UK after Brexit.

Fáilte Ireland is running a series of workshops around the country that aim to teach people about what tourists from China want when they visit Ireland.

“Irish businesses are …

No deal Brexit risks severe economic shock, IMF warns

No deal Brexit risks severe economic shock, IMF warns

The UK economy risks a serious shock if the UK leaves the EU without a deal, the International Monetary Fund said today, warning of severe trade disruption and slower economic growth.

In a report marking the coming spring meeting, published just days before the scheduled Brexit date of Friday, the IMF looked at the impact of possible “no deal” scenarios. …

Energy costs bump US consumer inflation higher in March

Energy costs bump US consumer inflation higher in March

A jump in US fuel and electricity costs drove consumer prices higher in March but underlying trends still pointed to tame inflation pressures, according to government data released today.

The fresh sign that inflation remains subdued – despite steady job creation and falling unemployment – will likely comfort Federal Reserve policymakers.

They have made clear they will be patient before …

Housebuilding boosts ‘robust’ construction growth

Housebuilding boosts ‘robust’ construction growth

Construction sector output remained strong in March, and was led by housebuilding for the third month in a row, according to the latest industry figures.

Ulster Bank’s construction industry purchasing managers index (PMI) tracks output and sentiment among hundreds of managers month to month.

The latest PMI reading of 55.9 in March was down from 60.5 in February, and signalled a softer expansion, but growth …

Euro zone banks toughen requirements for mortgage borrowers

Euro zone banks toughen requirements for mortgage borrowers

Euro zone banks are toughening their requirements of prospective mortgage borrowers, a European Central Bank survey published today showed.

Despite this demand for home purchase loans continued to swell in early 2019.

Credit standards – the boxes house-hunters have to check to receive a mortgage – tightened by 3% between January and March, lenders told the Frankfurt institution.

Meanwhile “net demand …

Tariff rows leave new Nafta deal ‘in trouble’

Tariff rows leave new Nafta deal ‘in trouble’

More than six months after the United States, Mexico and Canada agreed a new deal to govern more than $1tn in regional trade, the chances of the countries ratifying the pact this year are receding.

The three countries struck the United States-Mexico-Canada agreement (USMCA) on September 30, ending a year of difficult negotiations after US President Donald Trump demanded the preceding trade …

Pace of construction activity growth slows in March

Pace of construction activity growth slows in March

The pace of expansion in construction activity eased in March, the latest Ulster Bank Construction Purchasing Managers Index shows.

The index eased to 55.9 in March from 60.5 in February, but Ulster Bank said this follows a very strong February performance and the still-robust level of the PMI signals that Irish construction continues to expand at a solid rate.

The index …

Access to finance underpins upbeat era of acquisitions

Access to finance underpins upbeat era of acquisitions

Improved access to finance is underpinning business optimism in Munster, fuelling increased M&A activity along with a rise in the number of businesses willing to invest to support their growth, according to Deloitte.

Business leaders attending Deloitte’s ‘Scaling for Growth’ event in the River Lee Hotel in Cork this week heard that the mergers and acquisitions market in Munster is expected to …

Revenue officials meeting hauliers in Brexit preparations

Revenue officials meeting hauliers in Brexit preparations

Revenue officers have begun engaging with hauliers at ports in Dublin and Wexford as part of preparations for a no-deal Brexit.

Concerns have been raised about the number of companies trading with the UK that have not yet registered for customs.

Lynda Slattery, head of Revenue’s Brexit unit, said that before Christmas they identified 84,000 companies that may be impacted by Brexit.

However, …

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