A Clare financial advisor claims “everything is pointing towards a global recession”.
Oil prices have soared once again as the prospect of peace between the US and Iran grows more distant.
Brent crude futures, which is the primary benchmark for global prices, jumped by over 7% this morning, causing a chain reaction across the world.
The surge follows the US capture of an Iranian container ship which had been attempting to bypass its blockade near the Strait of Hormuz on Sunday.
As the Iranian government vows to retaliate, Donald Trump has today announced a second round of US-Iran talks to be held in Pakistan later.
Tehran however insists it won’t participate.
Newmarket-on-Fergus native and Professor of Politics at Dublin City University, Donnacha Ó Beacháin, fears a protracted “cold war” between the US and Iran is likely.
The increasing cost of goods and services arising from the conflict continues to present challenges to Irish consumers.
A new report from Bibby Financial Services has found that three in four medium-sized businesses are passing inflation and energy costs onto consumers.
Tommy Corbett of Carey Corbett Financial Solutions in Ennis says the economic forecast is grim.
Listen to the full interview here
