Donal joined the Irish Independent in 2010 and has been Business Editor since 2016. Before joining Mediahuis Ireland, he was a journalist with Thomson Reuters in London and is a former presenter of Newstalk's Business Breakfast. Donal has a BA and MA from University College Cork and advanced diploma from Kings Inns. He grew up in Limerick and now lives in Dublin.
Inflation in Ireland has surged again and was running at 8.3pc in May, the highest level since the 1980s. The new inflation figure from Eurostat shows the rise in the cost of living here is running below the EU average but significantly higher than France and Malta where the rise in the cost of living was 5.8%pc in May.
The Irish Government’s implied cost of borrowing soared further on Monday as bond market traders bet European Central Bank (ECB) rates hikes will be bigger than the quarter of a percent each in July and September already announced.
AIB and NatWest yesterday confirmed the Irish bank’s acquisition of Ulster Bank’s €5.7bn portfolio of performing tracker mortgages, as the huge shift in the banking market to just three main players gathers pace.
Local authorities around the greater Dublin area have slashed enough land to deliver more than 100,000 new homes from their housing delivery plans including dezoning significant areas of the commuter belt, according to research by Savills.
European Central Bank (ECB) President Christine Lagarde gave the clearest guidance yet on Monday that the era of super low interest rates will end this summer. By the end of September the ECB will no longer charge banks for keeping their money overnight, Ms Lagarde suggested.
Knowing when to stay out of the way is under appreciated by advertisers and brands but key to consumer engagement, according to the head of Accenture Song – the $14bn (€13bn) division consolidating dozens of agencies and consultancies including Ireland’s Rothco into a new global brand.
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