'Topics' - Weekly Media Round-Up

‘Topics’ – Media Round Up – week ending 1 December 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.

We welcome feedback, and you can do this using the article comment feature on the website.

Also, check out latest (free) Monthly Topics newsletter on our new website which includes some ways to save tax by 31 December 2013.

Keep in touch.

Dermot.

Commentary

In general it was a positive week, despite the news of two major job losses. Unemployment continues to decrease to its lowest level since 2009. The Central Bank announced that the banks are meeting their targets in regard to mortgage arrears which should make it easier for the banks to raise equity in the markets. This hopefully is good news for customers in terms of getting access to finance / credit. All banks are expected to make statements in the week ahead.

Finally if you paid your LPT tax 2013 by single payment, you should have received a letter from Revenue with ID and PIN codes in order to set up your payment option for 2014 by the 27th November 2013 deadline.

Irish Economy

• Figures show food price inflation down to 2.9%. Read more

• OPW CONCESSION/LICENCE PROPOSALS 2014. Read more

• Unemployment at lowest level since 2009 – CSO. Read more

• Average weekly wages down 2.4% in third quarter – CSO. Read more

• Fall in car sales drives down retail figures. Read more

• Food, Argi & Services sectors gave biggest boost to new jobs figures. Sunday Business Post 1 December 2013

• Have we turned the corner? News Focus Sunday Business Post 1 December 2013.

Taxation

• European Commission publishes plan to close corporate tax loophole. Read more

• Local Property tax 2014 payment option deadline ends 27 November 2013.

Banking / Credit

• ECB’s Noyer says rates could go lower if needed. Read more

• Bank of Ireland to raise €500m of equity – source. Read more

Property

• Signs of stability in the property market, says IBF. Read more

• Residential property prices up 6.1% in year to October. Read more

• Architects warn that new (defective) buildings regulations will not protect consumers. Sunday Business Post

Global Economy

• Euro area unemployment at 12.1% in October – Eurostat. Read more
• S&P remains upbeat on Spain. Irish Times Business 30 November 2013.

Stock Markets

• The Iseq barely budged, tipping 0.3% into the red at the close.
• UK stocks FTSE 100 index posting its first monthly loss since August.
• European stocks little changed. The Stoxx Europe 600 Index climbed less than 0.1%.
• US stocks fell, erasing gains in the final hour of a shorten trading session.