Greencore reports return to profits, higher H1 revenues

Convenience food group Greencore has reported a return to profitability and higher revenues for the first half of its fiscal year. Greencore said its profit before taxation increased from a loss of £1.8m the same time last year to a profit of £1m this year, on the back of higher group operating profit and lower …

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CCPC clears Bank of Ireland-KBC deal but imposes conditions

The Competition and Consumer Protection Commission has cleared, subject to a number of legally binding conditions, the proposed €5 billion acquisition by Bank of Ireland of KBC Bank Ireland’s performing loans and deposits. The clearance of the proposed deal would see Bank of Ireland buy KBC’s performing loan assets, including performing mortgages, and commercial and …

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Leitrim-based Cora Systems to create 300 jobs

Irish software company, Cora Systems, is to create more than 300 jobs, half of which will be in Ireland. The positions will be in a range of specialties including research and development, global sales and marketing, and professional services. 150 of the roles will be based in the firm’s Carrick-On-Shannon headquarters, or nearby under a …

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Start-up activity drops 12% amid rising costs

5,600 new companies were registered in Ireland in the first three months of the year, down 12% on the same time last year. New data from CRIF Vision-net suggests that some people are holding off on launching new businesses due to rising costs, and supply chain problems. “What we are seeing is a bit of …

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Irish firms suffering with renewed supply chain problems

Irish businesses are once again having to restructure their supply chains, amid renewed disruption caused by the resurgence of Covid-19 in China, the Ukraine war and soaring fuel costs. Economists have warned that if continued, the global difficulties will contribute to lower economic growth and higher inflation. Central to the problems are the ongoing heavy …

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Wholesale prices rise by 5.2% in April – CSO

Wholesale prices for goods used in manufacturing and construction rose at an annual rate of 5.2% in April, according to the Central Statistics Office. This was up from an annual rate of 4.4% in March. The price index for products destined for the domestic market rose by 7.1% on an annual basis while goods destined …

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SME optimism drops amid Ukraine war and inflation

Irish SMEs are feeling less optimistic about the future, according to a new report by peer-to-peer lender Linked Finance. Its latest SME Confidence Index for the first quarter of this year, shows that companies are more wary about current business conditions amid the war in Ukraine and rising inflation. The index, which is based on …

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Taoiseach in Belfast to meet political and business leaders

The Taoiseach is in Belfast today to meet politicians and business leaders as efforts continue to break the Stormont impasse over the Northern Ireland Protocol. Micheál Martin will meet party leaders for talks and will host a delegation from the business community. The DUP is refusing to restore power-sharing until its concerns about the protocol …

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Hauliers given more time to apply for fuel cost support

Hauliers are to be given more time to apply for an emergency support scheme put in place by the Government to assist them with the soaring cost of fuel. Those who have not yet applied for the assistance will now have until 6 June to lodge their completed applications. Under the Licensed Haulage Emergency Support …

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Aer Lingus owner IAG orders 50 new Boeing planes

Aer Lingus and British Airways owner IAG is to order 50 Boeing 737 MAX jets for delivery between 2023 and 2027, in a vote of confidence in the struggling US planemaker. The order for 25 737-8-200 and 25 737 MAX 10 jets to be used for short-haul operations at IAG-owned airlines is worth $6.25 billion …

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