Finfacts Ireland Business & Finance Portal

US services sector accelerated in January to its highest level in a year

Fri, 03 Feb 2012 15:48:08 GMT

Growth in the US services sector accelerated in January to its highest level in nearly a year, according to an industry report issued on Friday. The Institute for Supply Management said its services index rose to 56.8 last month from a revised 53.0 in December. It was the highest level since February 2011.

US added 243,000 jobs in January; Unemployment rate falls to February 2009 level

Fri, 03 Feb 2012 15:12:13 GMT

Total nonfarm US payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3% - - the lowest since February 2009, President Obama's first full month in office - - the US Bureau of Labor Statistics reported today. Jobs growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little over the month.

Markets: Ryanair warns Aer Lingus on covering €400m deficit in staff pension fund

Fri, 03 Feb 2012 10:33:47 GMT

Markets news on stocks, currencies and commodities; Ryanair warns Aer Lingus on covering €400m deficit in staff pension fund.

Eurozone service sector stabilises in January as growth in France and Germany offsets declines in Spain and Italy

Fri, 03 Feb 2012 08:55:16 GMT

Business activity in the Eurozone service sector stabilised in January, with a marginal expansion ending a four-month period of contraction. Underlying conditions in the sector nonetheless remained lacklustre overall, as inflows of new business fell further and job losses were recorded for the first time since April 2010. Growth in France and Germany offset declines in Spain and Italy.

Irish pension funds increased 3.7% in January following a 2.4% drop in 2011

Fri, 03 Feb 2012 08:34:56 GMT

Aon Hewitt Ireland, a unit of Aon Corporation of the US, says Irish pension funds increased 3.7% in January following a 2.4% drop in 2011.

Irish services sector activity falls for second straight month in January; Rate of decline in new business slows

Fri, 03 Feb 2012 07:24:12 GMT

Irish services sector activity fell for a second straight month in January 2012 but the rate of decline in new business slowed according to a report issued today.

Friday Newspaper Review - - Irish Business News - - February 03, 2012

Fri, 03 Feb 2012 06:28:21 GMT

Principal news stories from the Irish Times and Irish Examiner.

Irish Exchequer Returns 2012: Tax receipts up 17% in January with a boost from timing of corporation tax

Thu, 02 Feb 2012 16:55:32 GMT

Irish Exchequer Returns 2012: The Department of Finance said today that the Exchequer deficit in January 2012 was €394m compared to €483m last January. Increased tax and non-tax revenues and lower net voted expenditure were largely offset by higher debt servicing costs and higher non-voted capital expenditure. Tax receipts were up 17% with a boost from timing of corporation tax.

Vhi health insurance premiums to rise by 6% - 12.5%

Thu, 02 Feb 2012 16:16:31 GMT

Vhi Healthcare, the State-owned health insurer, announced today that it will increase its prices by an average of 9% next month with increases ranging from 6% - 12.5%. For most plans the price increase will be effective from 1st March, 2012. Vhi Healthcare said that the price increase is necessary to fund the healthcare needs of its customers.

Irish Economy 2012: Central Bank sharply cuts Ireland's economic growth forecast for this year

Thu, 02 Feb 2012 12:27:35 GMT

Irish Economy 2012: The Central Bank today sharply cut Ireland's economic growth forecast for this year as the Eurozone faces recession and consumer spending falls at a time of continuing fiscal retrenchment.

Markets: Deutsche Bank plunges to loss in Q4 2011; Baltic Dry Index sinks to 25-year low on shipping glut

Thu, 02 Feb 2012 10:12:00 GMT

Markets news on stocks, currencies and commodities; Deutsche Bank reports plunge in Q4 2011 earnings; Baltic Dry Index sinks to 25-year low on shipping glut.

Irish Health Contribution Refunds

Thu, 02 Feb 2012 09:21:40 GMT

The Department of Social Protection has this morning clarified the conditions applying to Irish Health Contribution Refunds.

Spain's Insider-Outsider Divide: Young temporary workers overwhelmingly the victims of brutal recession

Thu, 02 Feb 2012 08:35:56 GMT

Spain's Insider-Outsider Divide: Some of Europe's worst governed countries operate two parallel labour markets -- one mainly protected from economic shocks and the other comprising temporary workers, where all risks are concentrated. In Spain severance pay of up to 45 days' wages per year of service for permanent workers is available while in the current brutal recession, it's young temporary workers who overwhelmingly have borne the brunt of the huge rise in unemployment.

Facebook files for an IPO; Claims 845m users

Thu, 02 Feb 2012 08:19:03 GMT

Facebook on Wednesday filed for an IPO (initial public offering) that is expected to value the eight-year old social media network between $75bn and $100bn. It is set for one of the biggest US stock-market debuts and hopes to raise an initial $5bn when it begins selling shares in coming months.

Thursday Newspaper Review - Irish Business News and International Stories - - February 02, 2012

Thu, 02 Feb 2012 07:04:04 GMT

Principal news stories from the Irish Times and Irish Examiner.

Dr Peter Morici: US jobs report expected to show little progress; Economy slowing

Thu, 02 Feb 2012 06:09:11 GMT

Dr Peter Morici: Friday, forecasters expect the US Labor Department to report the economy added 135,000 jobs in December, after gaining 200,000 in December. In 2012, weaker jobs gains are likely as consumer spending and economic activity slow.

US private sector added 170,000 jobs in January; US manufacturing sector continued to expand

Wed, 01 Feb 2012 15:56:05 GMT

The US private sector added 170,000 jobs in January while the US manufacturing sector continued to expand in the month according to reports Wednesday.

Eurozone annual inflation is expected to be 2.7% in January 2012

Wed, 01 Feb 2012 12:23:45 GMT

Eurozone annual inflation is expected to be 2.7% in January 2012 according to a flash estimate issued by Eurostat, the statistics office of the European Union. It was also 2.7% in December 2011.

Irish Live Register 2012: Irish unemployment rate inched down to 14.2% in January; Register dipped 3,200 in month

Wed, 01 Feb 2012 11:52:41 GMT

Irish Live Register 2012: The standardised Irish unemployment rate (SUR) in January 2012 was 14.2%, down slightly from a rate of 14.3% in December 2011. The latest seasonally adjusted unemployment rate from the Quarterly National Household Survey was 14.4% in the third quarter of 2011. There was a drop of 3,200 on the register in January.

Eurozone Bank Lending Survey shows falling loan demand in Ireland and rest of Eurozone in Q4 2011

Wed, 01 Feb 2012 11:42:28 GMT

The Central Bank today reported the Irish responses to the Eurozone Bank Lending Survey and during the final quarter of 2011, credit standards were unchanged on loans to enterprises. However, a further decrease in loan demand from enterprises was reported. A tightening of credit standards on loans to households for house-purchases was reported for the fourth quarter of 2011 with a further tightening anticipated for the first quarter of 2012. Loan demand from households for house purchases weakened again during the final quarter of 2011.