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How banks are making it easier to get rid of unwanted costly subscriptions

Banks have moved to make it easier for consumers to cancel unwanted subscriptions.

The changes are likely to come as a huge relief as many companies make it very difficult for customers who have signed up for services, such as gym memberships and TV and online streaming services, to get out of their contract.

Research in the UK has shown that unwanted subscriptions are costing people an average of €50 …

Large numbers of SMEs yet to prepare for payroll shake-up

Large numbers of smaller firms have admitted they are not prepared for changes in how payroll systems interact with Revenue that are due to come into force in January.

An overhaul of the Pay As You Earn (PAYE) system is due to come into effect in five months.

But 40pc of firms are not prepared for the changes, according to a survey of 200 firms which was commissioned by Big …

European shares slip on China weakness

European shares fell back yesterday as weakness in Chinese markets and worries over a trade dispute between the United States and China eclipsed optimism that a Nafta deal could be struck by today’s deadline.

The pan-European STOXX 600 ended the session down 0.3pc, while Germany’s DAX, which is sensitive to China due to its prominence as a German export market, dropped 0.5pc.

Chinese stocks fell after a Reuters poll showed …

US tech firm leaves Ireland for US after Trump tax cuts

Internet domain registry business Afilias has moved its headquarters out of Dublin to the US, citing recent US tax changes as a reason for the move.

It’s a sign that Donald Trump’s efforts to attract business home are having an impact.

“We’ve long had a strong US presence,” said CEO Hal Lubsen. “More of the company’s shares are now owned by Americans, and our executive group is increasingly becoming American.

Avoiding a hard border in Ireland a ‘pivotal issue’ for Germany

Avoiding a hard border in Ireland is a ‘pivotal issue’ for Germany says Foreign Minister Heiko Maas.

“Any insecurity or deterioration in relation to Northern Ireland must not happen as a consequence of Brexit and in this regard we need to stand united and need the united voice of the 27 partners of the EU”, said Mr Maas today.

“We stand by our position we have to avoid a hard …

Alan O’Neill: Selling is an acquired art – but a skill every company needs

Large organisations have clearly-defined corporate structures that remove ambiguity in roles and responsibilities. Regardless of the sector that they’re in, commercial organisations have a common denominator; they need to sell their products or services to achieve sales targets. Consequently, every one of them has a defined sales function.

The same can’t always be said for SMEs. Many entrepreneurs set up a business relying on the relationships they have with key …

Global central banks set to dump £100bn of sterling in hard Brexit

Central banks holding sterling as part of their foreign exchange (forex) reserves could sell more than £100bn (€109bn) of the currency should Britain crash out of the European Union without a trade deal, a Bank of America Merrill Lynch (BAML) study showed yesterday.

The prospect of a no-deal Brexit is becoming increasingly feasible in the eyes of investors who are hedging against the risk of the currency tanking if Britain …

Chinese bitcoin mining rig makers aim to raise billions in HK IPOs

Three of the world’s largest bitcoin mining equipment makers plan to raise billions of dollars with initial public offerings in Hong Kong, even as other companies report plunging demand for the chips needed to make bitcoin and a halving in the price of the cryptocurrency.

Soaring cryptocurrency prices last year triggered a boom in demand for specialist mining chips and in developing “mines” – facilities with thousands of machines that …

Euro tipped to near parity with sterling under hard Brexit

Sterling will fall to 95 pence to the euro and approach parity in the early part of next year if a hard Brexit is still on the cards, according to analysts at Investec Ireland.

Currency volatility, and unfavourable rates, are a big risk to Irish exporters into the UK, particularly in lower margin sectors including food. Weakness in sterling versus the euro also potentially hurts the overall competitiveness of the …

Pension model doesn’t have to be perfect, but we must act now

The retirement model for Ireland is changing after various false starts – a change that is long overdue. A sustainable retirement system with feasible dependency ratios requires that workers save more and retire later.

We won’t get a perfect system overnight, so having one that’s “good enough”, at least to start, is an important priority.

The key thing is to take the first step and raise pension coverage immediately, or …

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