Economy and Employment

Portugal seeks EU Bailout

 

The Government says Portugal's request for an EU bailout will help Ireland's case for a reduced interest rate on our bailout loans.

Portugal made the the application for financial aid after pressure on its banking system became unbearable.

The Spanish Government has denied that its economy is at risk if the crisis in Portugal spreads.

Here the Government believes the latest developments will help Ireland to make the case for a cheaper bailout.

Jobs boost for Dublin

 

 

A global technology firm is to create fifty new jobs in Dublin.

Asset Control provides financial services companies with the ability to process and manage market and reference data.

The company says the quality of software and specialist technological skills in this country allowed it to expand its staff levels here.

The investment's being supported by the IDA.

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Its claimed fencing would turn Ennis playground into a jail

 

 

It's claimed a 6 foot fence could turn playground facilities in Ennis in to a prison, as local councillors seek ways to curb anti-social behaviour in the Fair Green area of the town.

As well as concerns raised by parents on Clare FM in recent weeks,  Ennis Town Council has heard reports of muggings, bullying and intimidation, as well as teenage drinking and public urination at the newly developed Tim Smythe Park.

Clare house prices have taken another dip.

 

New figures from property website Daft.ie show the asking price for a home across Clare is down 3 and a half percent in the first three months of 2011- it now stands at an average of 190 thousand here.

Nationally Daft found house prices fell by around 3 percent - while a similar report out today by myhome.ie put the drop at 4.

However both property websites believe that in the light of the bank stress tests and higher interest rates ,downward pressure may remain on the property market -

ESB cutting customer prices from today

ESB customers could see their bills slashed by up to 17 per cent - in a major overhaul of prices being launched by the company today.

The moves comes on the first day that the Irish energy market is fully deregulated - which it's thought could spark to an energy price war, to the benefit of consumers.

It's estimated the ESB has lost about 800-thousand customers to Bord Gais Energy and Airtricity in just two years.

Today, it begins to fight back with a new range of tariffs.

Drop in Clare's Dole Queues

 

The number of people signing on across Clare has fallen for the second month in a row

New Live Register figures show that almost 2 hundred less people have sought some form of social welfare assistance this month.

According to the county by county breakdown of Live Register Figures Tulla saw the biggest falloff in the numbers signing - 51 fewer people sought some form of social welfare aid in March-  compared to just 20 in February.

Bank Stress Test Results will be revealed today

 

The Finance Minister Michael Noonan is expected to unveil a fundamental restructuring of the Irish Banking system later today.

The highly-anticipated results of stress tests will be announced by the Central Bank this afternoon, and are expected to indicate the banks need another 18 to 23 billion euro - or even more.

It could bring the cost of Ireland's banking bailout to more than 80 billion euro.

IL and P shares suspended

Irish Life and Permanent shares have been temporarily suspended on the Irish and London stock exchanges, following a 45 percent drop in its stock yesterday.

The company requested the move this morning, pending the outcome of the banking stress tests - due to be announced tomorrow - and shares are suspended until Friday.

IL and P says it's noted the media comment surrounding the level of capital it could need as a result of those stress tests.

Ennis Businesses hold inaugural brainstorming session with Clare TDs

 

 

It's hoped the visits of The British Queen, Barack Obama, Lord of the Dance along with the London Olympics could generate a significant economic spin off for Clare.

The idea was one of several thrashed out between local business representatives and the county's four TDs as part of efforts to sustain and create jobs across the county.

Speculation ILP may suffer under bank stress tests

 

 

There's speculation today that the state may have to take a stake in the last privately owned Irish bank, after this week's stress tests.

According to the Irish Times, the severity of the results could ultimately see the government get part or majority ownership of Irish Life and Permanent.

The business has so far managed to avoid looking for state support because of its investment and pensions arm which has been profitable, and the fact that Permanent TSB decided not to lend to developers.

The company hasn't commented on the claims.