Tens of thousands of Irish mortgage holders are likely to see another dramatic fall in their repayments over the next 12 months, with a “dovish” European Central Bank (ECB) on course to cut rates to 1.75 per cent next year, analysts have predicted, writes Conor Pope.
At its last meeting of 2024, the ECB confirmed it was cutting rates by 0.25 per cent, the fourth such cut since last June and a fifth if a 0.35 per cent “technical adjustment” announced in September is included.
Fatigue among company owners after several difficult years in business may be the reason behind a slight decline this year in the number of small firms seeking protection under the rescue scheme for small companies, a restructuring expert has said.
More than 1,000 jobs have been saved through the Small Companies Administrative Rescue Process (Scarp) since its inception three years ago, new research from corporate advisory firm Azets Ireland has revealed. Ian Curran has the details.
Mortgage holders to see dramatic fall in repayments
The Irish Times Business Person of the Month: Cathal Fay, Yuno Group
The power market should reflect that renewable energy is cheaper
Shed Distillery founder Pat Rigney: ‘We’re very focused on a premium position but also on giving value for money to consumers’
In his weekly column John FitzGerald argues that in the long run a renewables-based electricity system is likely to be cheaper than the current fossil fuel system. Neither will it be vulnerable to the periodic energy price shocks that have been a feature since the 1970s. This reality needs to be reflected in how energy markets are run and prices are set in Ireland.
Irish fintech Fenergo swung to profit as the company’s previous investment in its technology helped cut its costs and make it more efficient. Accounts for the financial year ended March 31st, 2024, showed a profit before tax of €12.4 million. That compared with a loss of €5.65 million in the previous year. Ciara O’Brien reports.
From Apple Tax to Swiftonomics: 2024 in review
In tis week’s interview Shed Distillery founder Pat Rigney tells Ciarán Hancock that as “we’re a family-owned business taking the long-term view. We don’t have to report to the stock market. We have not taken a price increase [for 2025] we will not be taking one in 2026. We need to ensure that we become more efficient and deliver real value for our customers.”
In Agenda Joe Brennan tells us that the next minister for social protection – replacing incumbent Heather Humphreys, who did not run in the election – will have his or her work cut out..
The Department of Social Protection faces the mammoth task of preparing for the launch of the long-awaited automatic enrolment (AE) pension scheme – which, after years of stops and starts, is due to go live in September, capturing about 800,000 workers in the State who do not currently have a workplace or private pension.
Cathal Fay, the founder of energy supplier Yuno Group, has been chosen as Business Person of the Month for November, an award run in association with Bank of Ireland. During the month, its subsidiary PrepayPower posted a 23 per cent increase in sales for last year as it passed on wholesale energy price increases to households and entered the pay-as-you-go market with a new brand, Yuno Energy.
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