News | Latest Breaking News Stories & Headlines

Drivers lining up as they wait at a TotalEnergies forecourt in Genech in northern France

France tells TotalEnergies to up wages amid strikes

The French government told TotalEnergies today to raise wages as a standoff between the oil major and striking workers which has hit the country's petrol supplies dragged on for a 16th day.

Business • 13 Oct 22

Eamon Ryan said Ireland needs LNG storage as an extra security layer

Years before Ireland has enough LNG storage - Ryan

It will be years before Ireland has enough secure liquid natural gas storage, Minister for the Environment Eamon Ryan has said.

Ireland • 13 Oct 22

OPEC has cut its 2022 global economic growth forecast to 2.7% from 3.1%

OPEC cuts oil demand growth view as economy slows

OPEC has today cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year's figure, citing slowing economies, the resurgence of China's COVID-19 containment measures and high inflation.

Business • 12 Oct 22

The German economy is still set to register growth of 1.4% in 2022, but will shrink by 0.4% in 2023

Germany forecasts recession, soaring inflation in 2023

Germany's output will contract by 0.4% next year and inflation is expected to hit 7%, the government forecast today, as Europe's top economy battles soaring energy prices following Russia's gas shutdown.

Business • 12 Oct 22

For around two thirds of companies, growing their overseas market presence was their biggest priority for the year ahead

Exporters plan to enter new markets despite uncertainty

Global market uncertainty, energy and supply chain issues and skills shortages were among the top challenges cited by exporters ahead of Enterprise Ireland's International Markets Week.

Business • 12 Oct 22

The Budget included measures to help households and businesses with increasing energy costs in the form of €4.1 billion in once-off measures

Energy price spikes to continue for firms next year

A combination of further cost pressures and expected reduced demand from consumers will present a challenge to businesses over the winter months, the Banking and Payments Federation Ireland warns in its latest SME Market Monitor.

Business • 12 Oct 22

The fuel allowance lump sum of €400 will kick in during the week commencing 14 November

Govt reveals dates for payments announced in Budget

The Government has revealed the payment dates for the €1.2 billion worth of lump sum social protection supports announced in last month's Budget.

Budget 2023 • 11 Oct 22

The German government has cut its growth forecast for 2022 to 1.4% from an April projection of 2.2%

Germany to slide into recession next year - source

The German government expects Europe's largest economy to slide into recession next year, contracting 0.4% as an energy crisis, rising prices and supply bottlenecks take their toll, a source told Reuters today, citing provisional figures.

Business • 06 Oct 22

Minister Eamon Ryan had suggested cutting the dividend being paid on after-tax profits by ESB from 40% to 20%

Ryan wanted to cut ESB dividend in half - FOI

Environment Minster Eamon Ryan wanted to cut in half the dividend being paid to the state by the ESB so that the company could reinvest its profits in energy infrastructure and renewables.

Business • 06 Oct 22

TotalEnergies has a contract with Russia's Yamal LNG for 4 million tonnes a year that runs until 2032

TotalEnergies to continue shipping Russian LNG

French energy giant TotalEnergies will continue to ship liquefied natural gas (LNG) from Russia as long as there are no European sanctions on the fuel, the company's chief executive Patrick Pouyanne has said.

Business • 06 Oct 22

The report on the country's demand for and supply of electricity highlights how in the short term, the shortfall in the supply of electricity has worsened

Gap between electricity demand and supply to get worse

The electricity system will face a shortfall of supply over demand for the next decade, according to grid operator EirGrid.

Business • 06 Oct 22

The new borrowing may be modelled on the joint debt issued during the pandemic to subsidise jobs that would have otherwise been lost

EU officials want joint borrowing for energy crisis

Two top European Commission officials have today called for joint borrowing by the 27-nation European Union to finance a response to the energy price crisis that is threatening to plunge the bloc into recession.

Business • 04 Oct 22

Eamon Ryan will bring a memo to Government outlining how the three €200 energy credits will be paid

Cabinet signs off on plan for three €200 energy credits

The Cabinet has approved a plan to pay three electricity credits to every household over the next six months.

Politics • 04 Oct 22

The euro zone finance ministers are meeting in Luxembourg for regular monthly talks

Euro zone eyes temporary, targeted energy support

Euro zone finance ministers are likely to pledge today that national financial shields against soaring energy costs will be temporary and targeted, so as not to trigger a wage-price spiral that would boost already record high inflation, officials said.

Business • 03 Oct 22

Some EV drivers can pay up to €33.32 to fill the iD.4's battery if they are not on a good tariff

Some EV drivers can pay as much 3½ times for charging

New research shows that electric vehicle drivers can pay as much as 3.5 times more to charge their cars by failing to shop around for the right tariff.

Business • 03 Oct 22

European Commission Executive Vice-President Margrethe Vestager, in Dublin today, said there is no sense of a grudge over the Apple tax case

Vestager calls for debate on improving energy security

The European Commission Executive Vice-President has said the EU needs to have a debate about how to make its infrastructure more secure.

Business • 30 Sep 22

Minister for the Environment Eamon Ryan said the energy crisis will last at least two years

EU agrees consumption cuts and levies on energy firms

EU ministers have agreed on cuts to peak-hour power consumption and to impose windfall levies on energy companies in an urgent effort to bring down sky-high energy prices.

World • 30 Sep 22

Energy ministers from around the bloc are meeting in Brussels tomorrow amid a push by some nations to establish a price cap on the cost of gas

EU energy prices could shut 'thousands' for firms

High gas and electricity costs pose an imminent threat to thousands of EU firms and Brussels must act quickly to soften the blow, the Confederation of European Business said today.

Business • 29 Sep 22

European Commission President Ursula von der Leyen at a press conference in Brussels today

EU chiefs urge oil price cap among new Russia sanctions

The EU's executive has proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil price cap and ban on Russian exports worth €7 billion.

Ukraine • 28 Sep 22

A Temporary Business Energy Support Scheme is to be introduced for companies

Businesses to get help with energy costs over winter

The Minister for Finance has announced measures to support business and enterprises in Ireland through what he called "these exceptionally challenging times".

Budget 2023 • 27 Sep 22

Two leaks have been identified on the Nord Stream 1 Russia-to-Europe gas pipeline in the Baltic Sea

Gas leaks hit major Russian undersea gas pipelines

European countries are today scrambling to investigate unexplained leaks in two Russian gas pipelines running under the Baltic Sea near Sweden and Denmark, infrastructure at the heart of an energy crisis since Russia's invasion of Ukraine.

Business • 27 Sep 22

Germany's Ifo institute said its business climate index fell to 84.3, posting a more severe drop than the 87 forecast by economists

German business sentiment hits lowest level since 2020

The German economy is heading for recession, the Ifo institute said today, reporting a stronger than forecast plunge in business morale across all sectors as Germany scrambles to avoid a gas shortage this winter.

Business • 26 Sep 22

The Paris-based policy forum was particularly pessimistic about the outlook in Europe

Inflation risk pushing economies into recession - OECD

Global economic growth is slowing more than was forecast a few months ago in the wake of Russia's invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD said today.

Business • 26 Sep 22

Bank of Ireland said its Economic Pulse came in at 70.6 in September, down 17.6 points on the same time last year

Economic sentiment down in September amid energy woes

A new survey shows that with households facing the prospect of even higher gas and electricity bills over the coming months, consumer confidence sank to an all-time low in September.

Business • 26 Sep 22

Government launches solar panel scheme for businesses

The Government has unveiled a new scheme that will provide grants of up to €2,400 to businesses, public organisations and community groups that want to put solar panels on their premises.

Business • 22 Sep 22

Energy Crisis

France tells TotalEnergies to up wages amid strikes

Years before Ireland has enough LNG storage - Ryan

OPEC cuts oil demand growth view as economy slows

Germany forecasts recession, soaring inflation in 2023

Exporters plan to enter new markets despite uncertainty

Energy price spikes to continue for firms next year

Govt reveals dates for payments announced in Budget

Germany to slide into recession next year - source

Ryan wanted to cut ESB dividend in half - FOI

TotalEnergies to continue shipping Russian LNG

Gap between electricity demand and supply to get worse

EU officials want joint borrowing for energy crisis

Cabinet signs off on plan for three €200 energy credits

Euro zone eyes temporary, targeted energy support

Some EV drivers can pay as much 3½ times for charging

Vestager calls for debate on improving energy security

EU agrees consumption cuts and levies on energy firms

EU energy prices could shut 'thousands' for firms

EU chiefs urge oil price cap among new Russia sanctions

Businesses to get help with energy costs over winter

Gas leaks hit major Russian undersea gas pipelines

German business sentiment hits lowest level since 2020

Inflation risk pushing economies into recession - OECD

Economic sentiment down in September amid energy woes

Government launches solar panel scheme for businesses