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Global economic turmoil is different this time around

55 mins

This week we got a first glimpse of the impact Covid-19 is likely to have on our economy.

The new scheme will be aimed at the manufacturing and internationally traded sectors

New €200m enterprise support scheme due next week

Innovate or die - businesses are getting creative as crisis threatens their survival

Innovation in a crisis: Businesses respond to Covid-19

The Central Bank believes the economy here could collapse by 25% over the next three months

Covid-19 triggered 'severe' shock - Central Bank

Ibec's plans include a range of loans, credit guarantees, tax and rate deferrals and crisis cash payments

Ibec calls for emergency cashflow measures for firms

The Ryanair Group carried a total of 5.7 million passengers in March, down from 10.9 million it carried the same month last year

Ryanair expects 'minimal if any' traffic in April, May

FBD Holdings was planning to seek approval for a €35m dividend at its AGM, but that has also been postponed

FBD postpones AGM, vote on €35m dividend

The US Labor Department said employers cut 701,000 jobs last month after adding a revised 275,000 in February

Covid-19 brings record US job growth to an end in March

Markets More

All Market Reports

Covid-19 Fallout.

Global economic turmoil is different this time around

Innovate or die - businesses are getting creative as crisis threatens their survival

Innovation in a crisis: Businesses respond to Covid-19

The new scheme will be aimed at the manufacturing and internationally traded sectors

New €200m enterprise support scheme due next week

The US Labor Department said employers cut 701,000 jobs last month after adding a revised 275,000 in February

Covid-19 brings record US job growth to an end in ...

As Covid-19 spreads, the pound is at its weakest in decades as investors turned to less risky currencies, such as the US dollar

Sterling drops as British firms suffer record slump

"It is interesting to see consumers continuing to purchase what may be classified as non-essentials" Photo: Getty Images

How will the global pandemic affect online businesses?

Ibec's plans include a range of loans, credit guarantees, tax and rate deferrals and crisis cash payments

Ibec calls for emergency cashflow measures for firms

Technology & Innovation.

Airbnb has lowered its internal valuation by 16% to $26 billion

Airbnb lowers valuation to $26bn as virus hits bookings

With all but non-essential businesses closed, and restrictions on personal movement, there has been a dramatic fall in all kinds of travel

Google releases location data during pandemic

Zoom stops product development to fix security issues

WeWork troubles deepen as SoftBank pulls tender offer

Online retail sales soar due to virus restrictions

More Technology & Innovation

Business Watch and Listen.

Bank of Ireland chief executive Francesca McDonagh

15,000 apply for mortgage break from Bank of Ireland

The stock of available properties to buy had already been falling prior to the arrival of the Covid-19 pandemic

Number of properties for sale takes nosedive

The Central Bank believes the economy here could collapse by 25% over the next three months

Covid-19 triggered 'severe' shock - Central Bank

The CSO said that Covid-19 Crisis has had a significant impact on the labour market during March

513,350 people claim jobless benefits, wage subsidy

Wedding venues and suppliers are working hard to allay disappointment and accommodate brides and grooms, and their guests, on another date

'Here comes the bride' - Rescheduling that special day

The contactless payment limit has been increase from €30 to €50 in 75% of retail, grocery and convenience store outlets nationwide

75% of stores implement contactless payment increase

Journal Media runs online news sites including thejournal.ie

Journal Media to implement pay cuts between 5 and 20%

Good deeds or good PR?

The AIB manufacturing Purchasing Managers' Index fell to 45.1 from February's 51.2 - its worst reading since May 2009

Manufacturing posts sharpest ever monthly fall in March

Just 2,000 passengers used Dublin Airport yesterday as Covid-19 hits world travel

Dublin Airport to stay open despite 83% drop in flights

Colin Keogh from the Open Source Ventilator Ireland project

Global demand for ventilators continues to grow

Pressure piles on the broadband networks and more and more people are working from home

Broadband providers reassure on capacity

Business Brainstorm.

"It is interesting to see consumers continuing to purchase what may be classified as non-essentials" Photo: Getty Images

How will the global pandemic affect online businesses?

The impact of the coronavirus on online business is not straightforward and continues to evolve

"Who are these workers, how well paid are they and why should we care?" Photo: Getty Images

The low-paid workers keeping Ireland running during the pandemic

"Models help us to learn as much as possible about outbreaks, to understand what interventions are best to slow or stop an outbreak and how to respond to an outbreak in real time"

How to understand the numbers behind the coronavirus

The battle for dominance in the oil market between Saudi Arabia, Russia and the United States means lower prices on Irish forecourts

Why have petrol prices fallen at the pumps?

Moville Clothing in Co Donegal has completely turned production over to making scrubs for front-line healthcare workers. Photo: Eileen Magnier

What COVID-19 tells us about technology and human behaviour

Analysis & Comment.

Global economic turmoil is different this time around

Best estimates so far put the unemployment rate in Ireland at around the 17-18% mark - higher than the 16% recorded at the peak of the last financial crisis.

5 things we learned about the Covid-19 economy today

Storm brewing in insurance industry over Covid-19 cover

Analysis and Comment

Fed indicates it's prepared 'to leave tap running'

Pressure builds on Govt to do more to help businesses

Analysis and Comment

Brexit in focus.

The EU closed its office in Belfast on 31 January

UK refuses EU request for Belfast office

The EU delegation was led by the European Commission Vice-President Maroš Šefcovic

'Urgent need' for UK to present customs timetable

The UK logistics industry said it can't prepare for Brexit while battling to get food and medical supplies into the UK during the coronavirus pandemic

UK's logistics industry calls for Brexit delay

David Frost 'has been showing mild symptoms and so he is following the guidance to self-isolate'

Brexit talks uncertain as Frost and Barnier isolate

Michel Barnier said he was 'doing well' after he tested positive for Covid-19

EU's Michel Barnier tests positive for Covid-19

Boris Johnson insists the timing around Brexit will not be changed

Boris Johnson insists coronavirus won't delay Brexit

Phil Hogan is the EU Trade Commissioner

EU/UK defer trade talks further

The British government has rejected calls to extend Brexit transition due to coronavirus outbreak

Raab dismisses calls to extend Brexit transition

Silver Linings?

Michel Barnier said: 'We will publish the text after our exchanges & look forward to working with UK'

Barnier shows 'ambitious' draft UK deal to EU members

The Office for National Statistics said the UK's gross domestic product in January alone was flat

UK economy flat-lined in January - ONS

A joint statement aimed at Downing Street was issued following a meeting in London

Devolved govts demand greater say in Brexit talks

Your money.

The contactless payment limit has been increase from €30 to €50 in 75% of retail, grocery and convenience store outlets nationwide

75% of stores implement contactless payment increase

Card fraud across the banking industry reached €12m in the first half of 2019

Banks issue warning about Covid-19 scam attempts

PTSB has removed the limit for the 120,000 users of its Explore Current Cccount during April and May

Permanent TSB lifts limit on card transactions

Banks, retailers and technology companies are working closely together on the rollout of the increased contactless payment limit

Aim to increase contactless payment limit by April 1

AIB said that free banking for current account holders will end on May 30

Calls for AIB and Bank of Ireland to delay new charges

The Bank said the move was made in order to comply with advice from the Government on social distancing and hand hygiene

BOI to follow AIB in suspending contactless fees

Using contactless - including Apple Pay and Google Pay - is still a lot cheaper than regular card or cash, but there are ways to eliminate fees completely

Bank charges: How to cut the fees you pay to your bank

Electric Ireland to cut gas prices by 11.5% from April - its biggest ever reduction

Electric Ireland to cut gas and electricity prices

Wanting to save money and actually doing it are two very different things. In the second of two parts, John Lowe of Money Doctors sets out his guide for saving in 2020.

The A-Z of saving in 2020: Part 2

An Post's last price increase was in April 2017

An Post to increase price of stamp by 10c from March

The fraud results in the scammer getting remote access to the victim's computer

Internet users warned about phone scam

Credit card rates typically vary from 13-23%

Survey finds credit card cost awareness is low

Startup Nation.

Mr Mulrooney said he wanted to bring self-employed business owners all over Ireland together

Entrepreneur sets up platform for set-employed

A Sligo entrepreneur has set up a new online platform to offer support to self-employed business owners struggling to cope with the effects of Covid 19.

The Covid-19 pandemic means the NDRC has had to tailor its approach for this latest programme, with operations continuing remotely

NDRC's new digital startups for latest Dublin programme

My Money Jar promotes more mindful spending and saving and focuses on improving people's relationship with their money.

New Irish MoneyTech platform raises €1.3m

Local Enterprise Week will see a series of events taking place around the country from Monday until Friday

LEOs now supporting over 38,000 jobs

Enterprise Ireland CEO Julie Sinnamon speaking at the Start-up event today

Enterprise Ireland invested €24m in Irish start-ups

More Startup Nation