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Investors are braced for a further slowdown in the fourth quarter of 2021 for the British economy, and a weak start to 2022 due to a rise in Covid-19-cases caused by Omicron. Photograph: iStock

UK economy grew more slowly than thought before Omicron hit

Economy
December 22, 2021, 20:53

GDP rose 1.1% for the July-September period, behind the preliminary estimate of 1.3%

Minister for Finance Paschal Donohoe. Photograph: Alan Betson

Ireland to support French EU presidency on 15% corporate tax rate

Economy
Cliff Taylor
December 22, 2021, 19:08

KPMG tax partner says Paschal Donohoe may be able to limit effect on Irish businesses

‘What we are introducing is a ceiling, a limit, on the race to the bottom,’ said EU economy commissioner Paolo Gentiloni. Photograph: John Thys/AFP via Getty

4:47 Minimum corporation tax rate will not abolish competition, EU says

Economy
Naomi O’Leary
December 22, 2021, 14:03

New measures include 15% corporation tax floor and crackdown on shell companies

Minister for Finance Paschal Donohoe said he would re-examine Covid support scheme. Photograph: Donall Farmer/The Irish Times

Donohoe ‘does not have legal means’ to pursue dividend firms over Covid supports

Economy
Vivienne Clarke
December 22, 2021, 13:12

Entry to the scheme dependent on turnover not profit, Minister for Finance says

Some 96% of arrivals were by air in November. Photograph: iStock

Overseas travel fell 15% between October and November

Economy
Ciara O'Brien
December 22, 2021, 11:36

Some 785,800 people arrived into the State last month

‘December sentiment index speaks of seasonal fear rather than seasonal cheer,’ says KBC Bank’s chief economist Austin Hughes. Photograph: Chris Ratcliffe/Bloomberg

2:57 Consumer confidence falls to 10-month low amid cost of living and Covid fears

Economy
Colin Gleeson
December 22, 2021, 04:29

Drop in KBC index signals ‘clear and material deterioration’ in mood of Irish buyers

Shoppers in Oxford Circus in London on Tuesday. Shopper numbers fell 8.5 per cent in central London last weekend. Photograph: Dan Kitwood/Getty Images

Retail sales growth in UK slides as Omicron fears keep shoppers away

Economy
December 21, 2021, 20:57

CBI’s retail sales volume gauge posts lowest reading since last lockdown, in March

A hospitality worker waiting for customers outside a restaurant in London. Some 200,000 firms will be eligible for one-off grants to offset losses. Photograph: Tolga Akmen/ AFP

UK hospitality bosses say £1bn support package falls short

Economy
December 21, 2021, 20:26

Sunak offers one-off grants to companies hit hard by Omicron variant

A bystander looking at shops in the Eminonu bazaar district of Istanbul, Turkey. Photograph: Ozan Kose/AFP

Turkish lira rockets back from record lows after Erdogan moves to protect savings

Economy
December 21, 2021, 20:19

Erdogan introduces series of steps that he says will ease burden of weakened currency on Turks

Among the companies likely to be affected would be Musgraves, Dunnes Stores, Eir and several other big retailers and consumer firms. Photograph: Alan Betson/The Irish Times

Big Irish firms to face 15% corporate tax under EU proposals

Economy
Cliff Taylor
December 21, 2021, 19:07

Coalition had indicated intention to retain existing 12.5% rate for such companies

Frank O’Connor will take up the position of NTMA chief executive on July 1st. Photograph: Dara Mac Dónaill

NTMA picks Frank O’Connor as next chief executive

Economy
Joe Brennan
December 21, 2021, 15:16

Incoming chief is agency’s head of funding and debt management

CSO figures show that average annual earnings of workers in the Republic rose by 10 per cent to €50,076 in 2020

Weekly incomes would have fallen in 2020 without wage supports – CSO

Economy
Eoin Burke-Kennedy
December 21, 2021, 12:23

Pay subsidy schemes accounted for 4.3% of total earnings across all employments

Marks and Spencer (M&S) said last week that post-Brexit rules and ‘excessive paperwork’ has forced it to cut about 800 lines from its stores in the Republic. Photograph: Jon Super/PA Wire

3:13 Brexit has seen Irish food exports to Britain decline by a quarter

Economy
Eoin Burke-Kennedy
December 21, 2021, 06:00

ESRI/Department of Finance study estimates impact on trade in isolation of other drivers

US president Joe Biden’s domestic agenda is in trouble. Photograph: Stefani Reynolds/NYT

Question mark over OECD global tax rate as Biden agenda falters

Economy
Cliff Taylor
December 20, 2021, 17:58

It is in Ireland’s interests for 15 per cent levy to apply in US as well

The annual gathering of world leaders, executives and activists had been due to take place in Davos between January 17th and January 21st. Photograph: Fabrice Coffrini/AFP

World Economic Forum defers Davos meeting over Omicron concerns

Economy
Andrew Edgecliffe-Johnson
December 20, 2021, 17:47

January’s planned in-person event is pushed back to early summer and replaced by online sessions

Many businesses have been forced to shut their doors due to the Covid-19 pandemic. Photograph: iStock

Q&A: What Covid-19 supports are out there for businesses?

Economy
Colin Gleeson
December 20, 2021, 14:48

Range of options available to business owners who have been hit by the pandemic

Thirty-six financial services firms intend to relocate UK operations and/or staff to Dublin, according to EY. Photograph: Bryan O’Brien

Dublin remains most popular choice for Brexit relocations

Economy
Colin Gleeson
December 20, 2021, 12:56

Brexit-related activity within the UK financial services market was muted over 2021

The NTMA’s board initiated a process in June to find a successor to Conor O’Kelly, the current chief executive of the agency, as he prepares to step down next year

NTMA CEO race sees O’Connor and Carville face off in final line-up

Economy
Joe Brennan
December 20, 2021, 06:23

Decision expected imminently on successor to Conor O’Kelly

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