Posts By: admin

Plans were drawn up for collapse of euro

GOVERNMENT contingency plans to replace the euro amid fears that the single currency would collapse are revealed today. The Sunday Independent has learned that detailed measures were drawn up by Central Bank officials as fears of a break-up of the euro mounted in late 2011 and early 2012, despite a raft of official denials at… Read more »

Banking union deal in place as EU agrees €55bn back-up fund

EUROPEAN politicians finally struck a deal on the final piece of the ambitious banking union plan early after marathon talks. The compromise, which is a provisional agreement, ended weeks of tough talks between governments and the European Parliament over common rules on shutting failing banks and deciding who will foot the bill. Once the deal… Read more »

Sustaining growth is a problem for Europe

Europe’s leaders are in Brussels today. Their annual March summit is supposed to be about bread-and-butter economic issues first and foremost. At this year’s gathering they should be focusing on ways they can spur growth in their economies and across the wider EU economy. But, as is often the case, more immediate matters intrude to… Read more »

Trade surplus down by 9pc but exports up over the year

IRELAND’s trade surplus fell by 9pc in January but the value of exports was up over the year. The country’s export sector has been dented by the effect of the so-called pharmaceutical patent cliff – a fall-off in pharmaceutical sales as some blockbuster drugs here lose intellectual property, such as Irish-made cholesterol-lowering drug Lipitor. Preliminary… Read more »

Revenue collects €1.5m in property tax each day

THE Revenue Commissioner has collected almost €1.5m a day in household charges after it threatened to haul homeowners before the courts for not paying up before the end of the month. The surge in payments follows Revenue’s warning that it would impose tough penalties and interest and pursue enforcement action on property owners refusing to… Read more »

Former-IMF chief Strauss-Kahn-led hedge fund aims to raise $2bn

Former International Monetary Fund chief Dominique Strauss-Kahn plans to raise $2bn in a macro hedge fund, his firm, LSK & Partners, said today, as investors continue to back a low-risk and rapidly growing investment strategy. The venture marks Strauss-Kahn’s first partnership with an asset manager for the DSK Global Investment Fund that will invest globally,… Read more »

European shares hit as US Fed indicates interest rate hikes

European stocks fell in early deals today, led lower by growth-sensitive stocks after the US Federal Reserve indicated it may raise interest rates much earlier than expected. Fed Chair Janet Yellen sent US stocks and bonds tumbling overnight after she suggested they could rise by mid-2015, a potentially more aggressive path than many had anticipated…. Read more »

Are Irish Business Leaders Still Cutting Costs?

The majority of senior business leaders in Ireland are swapping their scalpels for bar graphs, as they move away from cost-cutting in favour of promoting future growth, according to a new survey of Irish firms. The annual IndEx Partners survey of senior business leaders, entitled ‘Changing Times Leadership Survey’, queried over 200 companies in Ireland… Read more »

‘No firms hit by tax clampdown’

Not a single company has contacted the tax authorities to say they have been affected by changes announced in the budget as part of Finance Minister Michael Noonan’s clampdown on international tax avoidance. In October’s budget, Mr Noonan included a measure that required any company incorporated in Ireland to be tax resident either in this… Read more »