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Explainer: Why has the euro fallen to ‘parity’ with the dollar and what happens now?

The euro briefly fell to parity with the dollar on Tuesday for the first time since 2002 and was back at the same level on Wednesday as combination of recession fears, central bank policy and energy prices battered the common currency.

EI start-ups find limited appetite for co-investment

IRISH startups are finding it harder to raise growth funding due to a pullback on capital markets amid rising rates and economic uncertainty, according to the CEO of Enterprise Ireland.

Regulators warn crypto firms are not up to speed on fraud rules

CRYPTO firms operating in Ireland are vulnerable to use by money launderers and terrorist financiers, the Central Bank has warned.

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Lenders want comfort on security before joining First Home scheme

Credit unions and non-bank lenders are keen to get involved in the Government’s new shared home equity scheme after being left out of the launch this week.

Cuckoo fund landlord plans to beat inflation with double-digit rent hikes for city dwellers

One of the country’s biggest “cuckoo fund” landlords is planning to demand double-digit rent increases on its properties despite a growing squeeze on incomes.

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Central Bank of Ireland sees inflation easing as domestic economic growth slows down

Inflation is going to start declining after the summer as a combination of constrained spending, higher interest rates and technical factors rein in price increases, the Central Bank has said.

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Finance Ireland deal shows investor appetite for mortgage competition

The new equity investment in specialist lender Finance Ireland suggests big banks won't have it all their own way as KBC and Ulster Bank quit and has generated a healthy return for taxpayers via the Irish Strategic Investment Fund (ISIF).

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Euro heading for parity with dollar after massive fall

The euro tumbled to a two-decade low yesterday as high energy prices, recession fears and a cautious European Central Bank (ECB) pushed the currency closer to parity with the dollar.

Rogue bankers to face €1m fines and job disqualification

Rogue bankers will now be first in the firing line when finance companies break the rules under new legislation approved by Cabinet yesterday.

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Jon Ihle Opinion Turns out the Government has the cash after all as contingency planning pays off

It turns out there is money to spend after all. After months of lowering expectations about what more the Government could do to help households cope with inflation, the Department of Finance is now “revising the fiscal parameters” and making an additional €6.7bn available, mostly for next year’s “cost-of-living budget”.

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Jon Ihle Opinion Chronic lack of supply means house prices may cool but not fall

The first interest-rate increases in more than a decade are due at the end of this month and the property industry is bracing for what should be a negative change in financial conditions.

Mediahuis seeks commercial job cuts after strategic review

Mediahuis Ireland, the owner of the Irish Independent, is cutting jobs in its commercial department following a strategic review.

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Government enjoying bank windfalls but losses are still lurking beneath the surface

Finance Minister Paschal Donohoe seems to have found a handy formula for recovering the money the State put into Ireland’s ailing banking system more than a decade ago.

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‘Minimalist’ Central Bank not doing enough on whistleblowers, says Labour spokesperson Ged Nash

The Central Bank has been criticised for “taking a minimalist approach” to its legal obligations for publishing an annual whistleblower report consisting of a single page.

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Mortgage switching surges as banks exit and ECB readies hikes

The departure of Ulster Bank and KBC and impending interest rate rises are prompting a surge in mortgage switching, which is now happening at more than double the rate of a year ago.

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Consumer mood starts to wilt as inflation hits income

Consumer sentiment is “backpedalling” with one-third of households saying they are just making ends meet, according to Bank of Ireland’s latest Economic Pulse index.

PwC lobbies for longer VAT holiday and reductions to inheritance taxes

Influential accounting firm PwC is pushing for yet another extension of the hospitality VAT holiday until the end of 2024, alongside an overall cut in VAT to 21pc.

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New law to rein in rogue bankers finally expected to be signed into law

Long-awaited measures to hold rogue bankers personally accountable for wrongdoing such as the tracker mortgage scandal are finally set to become law.

Ireland’s Innovu sold to US insurance giant Gallagher in new deal for broker market

Global insurance broker Gallagher has entered the fast-consolidating Irish market with the purchase of Innovu, a private-equity backed brand that has been buying local brokers for the last four years.

Inflation putting pressure on heavily indebted Valeo Foods

S&P has issued a warning and downgrade for the debt-laden owner of Jacob's biscuits, Kettle Crisps and numerous other well-known food brands as inflation eats away disposable income.

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Tax young workers less to give them a leg up, accountancy groups recommend

The main accountancy bodies are proposing that young workers should get ‘frontloaded’ tax credits early in their careers to help with the costs of starting a family and buying a home.

Cost of living: ESRI warns Government to resist public sector pay rises or risk more inflation

The Government must resist public-sector pay demands as much as possible if it wants to keep a lid on inflation, the Economic and Social Research Institute (ESRI) has said.

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Jon Ihle Opinion Minister fears fiscal boost will add more fuel to the inflation fire

Every finance minister must live in fear of presiding over a Wile E. Coyote economy of running so hard you don’t notice the ground is no longer beneath your feet.

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More personal injury claims going to court despite higher legal cost

The proportion of personal injury claims being taken to court increased significantly between 2015 and 2020, leading to higher settlement costs and more expensive insurance premiums for customers, according to the annual report of the National Claims Information Database (NCID).

Revenue to chase down unpaid tax on share option scheme awards

Revenue is threatening in-depth audits of employees who are not properly declaring their tax liability for share options after detecting significant non-compliance in respect of company schemes.

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Jon Ihle Opinion Loss of three out of four Reits jars with narrative of tax-free riches

With Hibernia the latest Reit to delist from the Irish stock market, it looks like it could be the end of the road for Reits in Ireland, at least those focused on commercial property.

Drop in orders at Kingspan points to broader slowdown in European construction sector

A sharp slowdown in future orders at building materials firm Kingspan points to a chill in the construction sector and a possible recession, according to stock market analysts.

Hibernia delists from stock exchange as €1.1bn Brookfield deal closes

Hibernia Reit has delisted from Euronext Dublin following the completion of its sale to Brookfield Asset Management, leaving just one remaining real estate investment trust on the Irish Stock Exchange.

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Wayflyer looks beyond its unicorn status as it carves out a funding niche

When fast-growing Irish fintech startup Wayflyer announced in February that it had raised $150m in equity investment from a consortium of backers including global investment bank JP Morgan, most of the talk was about valuation.

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Finance official says Government can't bear brunt of inflation shock

Department of Finance chief economist John McCarthy has warned that the Government cannot take full responsibility for cushioning the blow of inflation.