Live News: Markets react to ECB rate cut soundings; Irish business leaders back Starmer

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Live News

Bite-sized servings of the latest in business, tech and current affairs

Welcome to Tuesday’s Live News, where the Business Post keeps you up to date with bite-sized servings of the latest developments in business, tech and current affairs.

7.57 Reactions to ECB soundings on rate cuts start

Asian shares are up and the European markets are set for a stronger opening following the strong soundings that the ECB is set to cut interest rates in June.

Markets have priced in two rate cuts by October.

Reuters has a round up of the early reactions

7.29 Asset manager, banking boss and PR consultant among the Irish business leaders in UK backing Labour

Irish-linked figures are among the over 120 business leaders who have backed Labour at the UK general election.

The letter, published in the Times newspaper, is an endorsement by 121 senior executives and business bosses for Keir Starmer’s party ahead of polling day on July 4.

The letter states: “We are looking for a government that will partner fiscal discipline with a long-term growth strategy, working in partnership with the private sector to drive innovation and investment to build digital and physical capital and fix our skills system.

“This is the only way to put us on track for sustained productivity growth.”

Dominic McGrath has the list of Irish names

7.00 – Vast majority of businesses have significant concerns over auto-enrolment pensions

Irish businesses have significant concerns about the increased costs and red tape associated with the government’s move to introduce a pension auto-enrolment system by next year.

Just over two-thirds (67 per cent) of firms here said they are worried about the new pensions systems and the impact it will have on their business, according to a new report from Aon, the professional services group which surveyed 151 businesses across the country.

The principal concern raised by firms related to the increased costs of additional contributions (28 per cent) and the impact on existing contributions (28 per cent).

Ellie Donnelly has the full story



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