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US President Donald Trump could extend a July deadline for higher tariffs on imports, the White House has said. Mr Trump had set 9 July as the deadline after which punitive tariffs on a range of EU goods will take effect, with the EU promising some €95 billion in retaliatory countermeasures. Asked if there were…

Fuel costs are continuing to rise, with both petrol and diesel recording increases in June. The latest analysis from the AA shows that petrol now costs an average of €1.77 per litre, up 1 cent since May. Diesel has risen to an average of €1.69 per litre, up 1 cent month-on-month. “While the changes are…

The Economic and Social Research Institute has downgraded its forecast for house building and growth in the domestic economy for this year. It is the second organisation to reduce its projections after the Central Bank reached a similar conclusion last week. The ESRI said it expected 33,000 homes to be built this year, which is…

There is widespread concern among staff in the financial services sector over the possible effects of artificial intelligence (AI), according to a new survey. The research was conducted by the Financial Services Union (FSU) and the think tank TASC. It shows that job displacement, lack of reskilling opportunities and bias in decision-making are among the…

Tánaiste Simon Harris has told the Fine Gael parliamentary party meeting that the VAT rate for small businesses will be cut permanently in the Budget. The party has previously signalled that VAT cuts were on the way for food and entertainment businesses as well as hairdressers. A spokesperson said that the detail of any cuts…

Less people are saving, and more are worried about the risk of a global recession, according to new research by Bank of Ireland. The Savings and Investment Index shows that the risk of a global recession is the biggest concern for Irish households, ahead of the cost of housing, rent and inflation. “The increase in…

Oil prices climbed today as investors assessed the stability of a ceasefire between Iran and Israel, but held near multi-week lows on the prospect that crude oil flows would not be disrupted. Brent crude futures rose 85 cents, or 1.3%, to $67.99 a barrel at 0341 GMT, while US West Texas Intermediate (WTI) crude gained…

One third of reporting organisations see the gender pay gap reducing, according to research by the Chartered Institute of Personnel and Development (CIPD). The third and final cohort of organisations prepares for its first deadline later this year. The Gender Pay Gap Information Act 2021 requires organisations to report on their hourly gender pay gap…

Billionaire Michael Bloomberg has told an audience in Dublin that Brexit was the single stupidest thing any country has ever done, adding that “it’s hard to believe how they did it.” Mr Bloomberg was addressing a conference entitled ‘The Bloomberg Advantage: Future of Finance in Ireland’ which was held in Bloomberg’s Dublin offices. “Ireland has…

The European Central Bank can further cut interest rates at a time of huge volatility in energy markets, policymaker Francois Villeroy de Galhau told the Financial Times in an interview published today. “If we look at the present assessment of markets so far, inflation expectations remain moderate,” he said, adding that a confirmation of ceasefire…