‘Topics’ – Weekly Media Round Up – Week 45/2013

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‘Topics’ – Media Round Up – week ending 10 November 2013

Welcome!

Welcome to our “Weekly Round Up” – our complimentary summary of this week’s financial news. This publication includes my own commentary and index of links to articles, allowing you to scan over and tune into what’s important to you.

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Dermot.

Commentary

The week’s financial news was dominated by the shambles of the LPT property tax payment options which the Revenue have now tried to clarify with advertisements in the weekend national newspapers. The other main news was the announcement of a further cut in the ECB interest rate to 0.25%. This will automatically reduce all tracker mortgage repayments. However according to Irish Times (9 Nov) it seems the main mortgage providers have no immediate plans to pass on the cut to its variable rate customers.

Irish Economy

  • Irish economy stabilising, but challenges remain – Commission. Read more
  • Services sector grows rapidly in October as new business soars. Read more

  • October inflation rate at lowest level since July 2010. Read more

  • New car sales motor 16% higher in October. Read more

  • Nobel economist predicts Irish ‘lost decade’ as Troika complete review. Read more

Taxation

  • Exchequer remains on-target to end of October. Read more

  • Local Property Tax paper filing deadline extended. Read more

  • Revenue to trawl stamp duty records for LPT refunds. Sunday Business Post

Banking / Credit

  • €125m fund to boost small and medium businesses Read More
  • New initiative to help struggling homeowners. Read more
  • ECB cuts euro zone rates to 0.25%. Read more

  • No changes from Bank of England today. Read more

  • No plans to pass on ECB cut widely: Irish Times 9 November 2013
  • AIB introducing new home renovation fund. Sunday Business Post 10 Nov.

Property

  • Property to stabilise next year: S&P. Read More

Global Economy

  • Euro zone factory PMI points to broad-based economic recovery. Read more

  • UK construction sector rising ‘like phoenix from the ashes’. Read more

  • Falling inflation prompts bets ECB will ease again soon. Read more

  • UK services sector grows at fastest pace in 16 years. Read more

  • Spain’s jobless rises as tourist season ends. Read more

  • Euro zone business recovery loses some momentum in October. Read more

  • Euro zone retail sales fall more than expected in September. Read more

  • German trade surplus hits record high in September. Read more

  • UK industrial output rebounds in September. Read more

  • S&P lowers France credit rating to AA from AA+. Read more

Stock Markets

  • European values decline on US data
  • Iseq up 0.2%
  • London FTSE 100 rose 0.2%
  • European Stoxx 600 index up 0.4%
  • Germany’s DAX up 0.8%
  • S&P 500 advance 1.6%