Archive for June 2025

The trade deal signed between US President Donald Trump and British Prime Minister Keir Starmer lowering some tariffs on imports from Britain has come into effect, the British government said today. British car manufacturers will now be able to export to the US under a reduced 10% tariff quota from an earlier 27.5%, while the…

Britain’s economy expanded at its fastest pace in a year in the first three months of 2025 as homebuyers rushed to beat a deadline on property purchases and manufacturers sped up output ahead of US President Donald Trump’s higher import tariffs. UK gross domestic product grew by 0.7% in the first three months of 2025,…

Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest assessment of the state of the world economy. Outgoing head of the BIS, often dubbed the central bankers’ central bank, Agustín Carstens, said the US-driven trade war…

US President Donald Trump could extend a July deadline for higher tariffs on imports, the White House has said. Mr Trump had set 9 July as the deadline after which punitive tariffs on a range of EU goods will take effect, with the EU promising some €95 billion in retaliatory countermeasures. Asked if there were…

Analysis: A focus on Irish family businesses makes sense at a time when world economies are an election, tax change or trade dispute away from disruption What if Donald Trump lures the multinationals out of Ireland? With ongoing threats of tariffs on EU imports and a broader agenda focused on reshoring American industry, the risk…

Fuel costs are continuing to rise, with both petrol and diesel recording increases in June. The latest analysis from the AA shows that petrol now costs an average of €1.77 per litre, up 1 cent since May. Diesel has risen to an average of €1.69 per litre, up 1 cent month-on-month. “While the changes are…

Tánaiste Simon Harris has told the Fine Gael parliamentary party meeting that the VAT rate for small businesses will be cut permanently in the Budget. The party has previously signalled that VAT cuts were on the way for food and entertainment businesses as well as hairdressers. A spokesperson said that the detail of any cuts…

There is widespread concern among staff in the financial services sector over the possible effects of artificial intelligence (AI), according to a new survey. The research was conducted by the Financial Services Union (FSU) and the think tank TASC. It shows that job displacement, lack of reskilling opportunities and bias in decision-making are among the…

The Economic and Social Research Institute has downgraded its forecast for house building and growth in the domestic economy for this year. It is the second organisation to reduce its projections after the Central Bank reached a similar conclusion last week. The ESRI said it expected 33,000 homes to be built this year, which is…

One third of reporting organisations see the gender pay gap reducing, according to research by the Chartered Institute of Personnel and Development (CIPD). The third and final cohort of organisations prepares for its first deadline later this year. The Gender Pay Gap Information Act 2021 requires organisations to report on their hourly gender pay gap…