Syndicated

Last month was best July for startups since the recession

The number of startup companies in Ireland reached its highest level in July since before the recession in 2007, new figures have shown.

According to a survey carried out by business and credit risk company Vision-net, 1,764 new limited companies were registered during the month, up from just over 1,500 during the same month last year. An additional 2,517 new businesses were registered, up by 24pc compared to July 2014.

New car sales fuel jobs boost across the motor industry

More than 27,500 new cars were bought by Irish motorists in July, almost as many as the traditional bumper month, January.

Figures show the nation’s buying trends are changing dramatically with the new twice-a-year change of registration plates.

New-car registrations soared by 9,000 (48pc) to 27,633 last month – just 2,000 short of January. Sales for the year to date are up 30pc, according to Simi (Society of the Irish …

Irish firms’ factory output rebounds in July

Irish manufacturing sector growth bounced back from a 16-month low in July as the weak euro boosted exports, a new survey has shown.

The Investec Manufacturing Purchasing Managers’ Index rose to 56.7 in July from 54.6 in June. But it remained below the 15-year high of 57.5 posted in February.

The index has held above the 50 line denoting growth since May 2013, when Ireland was in an international bailout …

Bank of Ireland tipped to repay debt early despite housing slowdown

Bank of Ireland may redeem €1.3bn of preferred shares earlier than expected clearing the way for a resumption of higher dividends, according to analysts at Cantor Fitzgerald.

In a note to clients, Cantor Fitzgerald said it had raised its target price for Bank of Ireland shares to 45 cents from 43 cents, on the back of last week’s interim financial results.

The shares closed at 38.8 cents yesterday.

With schools and tradesmen looking to exit, it’s the end of the cheque era

It’s around this time of year that the back-to-school costs surveys start to pile up, drawing attention once again to the ever-rising costs of putting a child through a primary or secondary school system that is supposed to be ‘free’.

One of the more interesting findings in the report from parenting forum Mummypages.ie, which surveyed nearly 1,800 parents, was that 91pc of mums would favour a phased payment system throughout …

Weak euro helps manufacturing sector bounces back from 16 month low

Irish manufacturing sector growth rebounded from a 16-month low in July as the weak euro boosted exports, a new survey has shown.

The Investec Manufacturing Purchasing Managers’ Index rose to 56.7 in July from 54.6 in June. But it remained below the 15-year high of 57.5 posted in February.

The index has held above the 50 line denoting growth since May 2013, when Ireland was in an international bailout programme.

UK government starts privatisation of Ulster Bank parent company RBS

Britain has sold a £2.1bn (€3bn) stake in Royal Bank of Scotland to kick off the disposal of its holding seven years after bailing out the bank.

Finance Minister George Osborne hailed the sale this morning as “an important first step in returning the bank to private ownership” and said it was right to start selling the stake at a loss to the price paid for the shares in 2008.

GDP returns to its pre-crash level but slowing of house prices expected to continue

House-price growth of 9pc in Ireland this year is set to be the fastest in Europe, but will slow sharply in 2016 and 2017, including because from the effect of strict new lending rules, according to Standard & Poors.

The overall size of the economy here has now exceeded the pre-crash peak of 2007, the Central Statistics Office (CSO) confirmed yesterday, although population growth means economic activity per head remains …

SMEs get €45m from Strategic Bank

The Strategic Banking Corporation of Ireland (SBCI) has revealed that €44.7m worth of loans has  een drawn down by small and medium businesses since mid-March.

The SBCI, which was set up last year to provide low-cost loans to small businesses, said that since the first SBCI loans were made available from mid-March this year 1,626 SMEs have drawn down funding.

The SBCI works through third-party lenders, giving them money at …

Bank of Ireland profits more than double to €743m

Underlying profits at Bank of Ireland more than doubled in the six months to the end of June to €743m according to new results from the bank.

This was an improvement of €416m compared to the €327m underlying profit recorded in the same period last year.

The value of defaulted loans was reduced by €1bn in the six month period and defaulted loans are now down by more than 25pc …

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