Business and Finance News
Merkel, Hollande to address European Parliament on refugees
Angela Merkel, German chancellor, and François Hollande, French president, will make a joint address to the European Parliament Wednesday on the refugee crisis. “This is a historic visit for historically difficult times,” said Martin Schulz, the German SPD a centre-left president of the parliament. “The EU is facing immense challenges and requires strong commitment from its leaders.”
IMF warns on worst global growth since financial crisis in 2009
The International Monetary Fund warned on Tuesday that global growth is projected to decline from 3.4% in 2014 to 3.1% in 2015, and rise to 3.6% in 2016, reflecting in 2015 a further slowdown in emerging markets, partially offset by a modest pickup in activity in advanced economies — particularly in the Euro Area. This pickup, supported by the decline in oil prices and accommodative monetary policy, will modestly narrow output gaps.
Ireland & Beps Tax Reform: Services exports to drop 50%
Ireland & Beps Tax Reform: The final proposals of the OECD Beps (Base Erosion and Profit Shifting) project that were published on Monday, are expected to be ratified by the 19 leaders of the world’s biggest advanced and emerging economies, at a G-2…
OECD issues final proposals on landmark corporate tax reform
The Organisation for Economic Cooperation and Development (OECD), a think-tank for 34 mainly advanced country governments, today issued final proposals on corporate tax reform that are a landmark development since the evolution of international busines…
Eurozone growth waning at end of Q3; UK at 30-month low
The Eurozone economy continued to make steady progress in September, as solid gains in output and new orders supported further job creation. However, the rate of growth eased to a four-month low. The rate of UK economic growth slowed to a 30-month low …
German economy to overcome Volkswagen’s emissions fraud
There is no doubt that the emissions cheating scandal, disclosed by the US Environmental Protection Agency (EPA) last month, is a huge blow to the reputation of the leading German car group and is also damaging to the ‘Made in Germany’ brand. However, …
Irish Budget 2016: Bruton wants 30% flat tax rate for immigrants
Irish Budget 2016: Richard Bruton, jobs and enterprise minister, has called for a 30% flat tax for immigrants, a cut in the capital gains tax (CGT) rate to 10% and Zero for the majority of private sector workers with no occupational pension coverage.
OECD Beps: Biggest corporate tax reform plan since 1920s
On Monday (5 Oct) the Paris-based Organisation for Economic Cooperation and Development (OECD) will present its final Base Erosion and Profit Shifting (Beps) project corporate tax reform proposals and on Tuesday the Ecofin council of EU finance ministe…
Irish tax €1.7bn ahead of target; Corporation tax up €1.2bn
Today’s Exchequer Statement for September 2015 shows that the position of the Exchequer continues to improve with the underlying Exchequer deficit in 2015 at €2.1bn compared to an underlying deficit of c. €6.1bn in 2014 (excluding all of the substantial one-off transactions). This equates to a year-on-year improvement of c. €4.0bn on the back of increased tax and non-tax revenue and reduced expenditure.
US added 142,000 jobs in September; Broad jobless rate at 10%
Nonfarm US jobs increased by 142,000 in September, and the unemployment rate was unchanged at 5.1% according to the Bureau of Labor Statistics. Employment rose in health care and information, while mining lost jobs. Thus far in 2015, nonfarm job growth…