Author: Sam Allcock

Global financial markets faced turbulence on Friday as mounting trade war concerns, weak US jobs data, and inflation worries caused European stocks to slide. The European stock market downturn saw major indices closing lower, with auto stocks among the hardest hit. Irish Market Declines Amid Investor Anxiety In Dublin, the Irish stock index ended the week nearly 1% lower, reflecting the broader market unease. Bank of Ireland shares dropped by 1.6% to close at €9.69, while AIB managed a slight 0.5% gain, finishing at €5.93. Permanent TSB bucked the trend, rising 2.8% by the end of the trading session. Food…

The Bank of Ireland UK investment strategy is taking a major step forward with a £100 million boost to enhance banking services, support SMEs, and drive sustainability initiatives. This three-year investment marks the 200th anniversary of the bank’s first branch in Newry, Northern Ireland and underscores its commitment to modernising financial services. Enhancing SME Banking & Digital Services The investment will improve Everyday Banking products and services for both retail and SME customers. Key upgrades include: This follows a £3 million investment in ATM upgrades in 2024 and a £7 million refurbishment of the bank’s 13 branches in Northern Ireland.…

The Northern Ireland fintech industry is booming, presenting a wealth of career opportunities for students eager to enter the world of financial technology. As the UK government highlights fintech as a key driver of future economic growth, one of Northern Ireland’s leading price comparison platforms, CompareNI.com, has launched its fifth annual Fintech Scholarship to inspire the next generation of industry professionals. The UK stands as Europe’s leading fintech hub, with more than 2,500 companies employing 76,500 people – a figure expected to grow to 105,500 by 2030. Northern Ireland, in particular, is a rising fintech powerhouse, with one in five…

Hospital IT systems are undergoing a major transformation as Munich-based Avelios Medical secures €30 million in Series A funding. The healthtech start-up aims to modernise outdated hospital information systems (HIS), which have been linked to inefficiencies and medical errors in patient care. The funding round was led by Sequoia Capital, a well-known investor in global tech giants such as Apple, Nvidia, and Google. Existing backers Revent and HTGF also participated, reinforcing confidence in Avelios’ mission to overhaul healthcare IT infrastructure. The Urgent Need for Modern Hospital IT Systems Avelios was founded in 2020 by Christian Albrecht, Nicolas Jakob, and Dr…

Personal loans in Ireland saw a significant increase in the third quarter of 2024, with consumers borrowing €670m to fund car purchases, home improvements, and weddings. According to new data from Banking & Payments Federation Ireland (BPFI), nearly 63,000 personal loans were drawn down between July and September, an increase of 9,200 loans compared to the same period in 2023. The average loan size also rose to €10,700, an increase of €374 from the previous year. The BPFI reported that demand for personal loans is at an all-time high, with borrowing levels reaching record figures since it first started collecting…

Núa Money has announced a significant reduction in mortgage rates, a move that experts believe will intensify competition in Ireland’s home loan market. The non-bank lender, which entered the Irish mortgage sector last year, is cutting rates by up to 0.75 percentage points, making its offerings more attractive to borrowers. The company, backed by the Allen beef dynasty from Wexford, began providing mortgages in July 2023 after securing a licence from the Central Bank of Ireland. Unlike traditional banks, Núa Money does not rely on customer deposits for funding, which typically results in slightly higher rates. However, this latest cut…

New financial records reveal that Intel investment in Ireland received nearly all of its $384m in non-US grants and tax incentives from Irish taxpayers in 2023. The figures, disclosed in the tech giant’s annual report, highlight the extent to which foreign direct investment in Ireland benefits from state-backed incentives. Intel reported $645m in grants and tax credits outside the US, with a majority linked to its major expansion in Leixlip, Co Kildare. The company confirmed that “substantially all” of these funds were sourced from Ireland. Intel Investment in Ireland’s Chip Manufacturing Intel’s €17bn expansion of its Kildare facility represents one…

New figures from the Central Statistics Office (CSO) confirm that Dublin and Cork continue to lead Ireland in disposable income, with both counties surpassing the national average in 2023. Disposable income, the amount of money individuals have left after paying taxes and social charges while accounting for social benefits, remains highest in Dublin at €32,393 per person. Cork followed closely with €29,876, while Limerick ranked third at €29,491. Dublin’s figure is 14% higher than the national average of €28,370, reflecting a 1.3% increase from 2022. Which Counties Have the Highest and Lowest Disposable Income? Just six counties recorded higher-than-average disposable…

After temporarily shelving his tariff plans against Canada and Mexico, US President Donald Trump plans tariffs on Europe, setting the stage for a potential transatlantic trade war. In a statement on Monday evening, Mr Trump criticised the current US-EU trade balance, calling it an “atrocity” and claiming that Europe has “taken advantage” of the United States. He specifically pointed to the EU’s restrictions on US car and farm product imports while the US continues to accept a wide range of European goods. Tariffs “Definitely Happening” on EU Imports While phone calls between Mr Trump and leaders of Canada and Mexico…

For many years, Shane Lynch has been a familiar figure in popular culture, initially becoming well-known as a member of the Irish boyband Boyzone. In an effort to find success outside of music, he moved into acting, reality TV, and business over the years. His financial journey has been far from stable, even though his net worth was once estimated to be £15 million ($18 million). From Boyband Stardom to Business Ventures Shane Lynch became well-known and wealthy all over the world thanks to Boyzone, one of the best-selling boy bands of the 1990s. The group dominated music charts and…