News

70 of Ireland’s biggest companies have now committed to setting carbon-reduction targets based on climate science, by signing a low-carbon pledge overseen by Business in the Community Ireland (BITCI), a not for profit organisation. The number of companies signed up to the pledge has increased from 47 in 2019, when it was first launched. Companies…

The Central Bank is set to hit AIB with a record fine later today for its role in the tracker mortgage issue. The banking group, which includes EBS, is said to have set aside €70m to cover the fine, which resulted from an enforcement investigation that has been running since 2017. Over 9,000 AIB customers…

Ireland and Denmark had the highest price levels for consumer goods and services across the EU in 2021, according to Eurostat. The EU’s statistics agency published data today showing price levels here and in Denmark were 140% of the EU average. The lowest prices levels were in Romania and Bulgaria at 56% of the average.…

AIB has sold a non-performing loan portfolio in long-term default to Everyday Finance, part of a consortium that includes Everyday, affiliates of Cerberus Capital Management and LCM Partners Limited. AIB said the €400m loan sale cuts its non-performing loan ratio to 4.4%. It added that it remains on track to reach its 3% target by…

Lidl has today started the rollout of its first electrical truck and hydrogenated vegetable oil (HVO) heavy goods vehicle (HGV) into its logistics fleet. The pilot scheme will see the sustainably powered vehicles join Lidl’s logistic fleet at its Newbridge Regional Distribution Centre. It marks the start of the retailer’s transition from fossil fuel commercial…

Building insulation specialist Kingspan said today it had seen the mood in most end markets deteriorate over the last two months with order intake volume down significantly year-on-year in May and June. But orders were still up this month and last on the same pre-pandemic time in 2019. The Co Cavan-based firm said today that…

Budget fashion chain Primark will trial a Click & Collect service on children’s products in the UK but said the move should not be seen as a precursor to an online delivery offer. Parent Associated British Foods said today the Click & Collect trial will take place in up to 25 stores in the northwest…

The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses. The funding is designed to help companies develop new digital products, processes and services and will allow them invest in software, new equipment, staff training, automation and Artificial Intelligence (AI). €85 million in funding will be made…

IT, security and telecoms company HCS is investing €3.2m to double the size of its workforce and business revenues within the next three years. HCS has started its recruitment programme and will grow its workforce to 60 over the next three years. Following the investment, HCS is forecasting increased annual revenues of €9m by 2025.…

The beginning of the pandemic in 2020 brought with it an end to years of bullish economic growth. As Ireland headed into the general election, the economy was in rude health. Predictions were bright. Nobody predicted two years of Covid turbulence, followed swiftly by war in our neighbourhood. But, though Covid restrictions have eased, the…