‘Topics’ – Media Round Up – week ending 15 December 2013
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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
It was a mixed week of news for the Irish economy with signs of a return to growth in the construction sector offset by falls in the industrial sector. There was also a bigger than expected rise in our trade surplus (difference between exports / imports). While there are now weekly signs of improvement in the domestic economy, there is no major indications of overall growth in the main European economies which will delay any material growth in our economy. This should result in the ECB keeping their main interest rate at a low level, in the hope of enticing investors, which is good news for Irish borrowers particularly those who have been able to retain their tracker mortgages.
Finally today (15th) sees the end of the bailout program which was signed on this day in 2010.
Irish Economy
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Construction output rises by 1.9% in third quarter. Read more
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Fall in trade surplus bigger than expected – CSO. Read more
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Irish industrial output fell 11.6% in October – Eurostat. Read more
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Consumer prices rose 0.3% in year to November – CSO. Read more
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Retail group predicts €350m weekend spending blitz. Read more
Taxation
- One more tough budget left, then austerity ends. Sunday Business Post 15 December 2013
Banking / Credit
- IBRC faces multiple lawsuits over €22.5bn liquidation. Sunday Business Post 15 December 2013
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49,000 mortgages restructured by end of October – Department of Finance. Read more
- €79 billion EU fund open to Irish SME’s. Sunday Business Post Money 15 December 2013
Global Economy
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Euro zone employment shows no change in third quarter. Read more
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Deal to quell budget wars sails through US House. Read more
Stock Markets
- FTSE hits worst losing streak since 2008
- Dublin Iseq flat
- Stocks down fractionally across Europe
- Standard & Poor’s 500 index posied for biggest weekly loss since August.