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Dublin: 9 °C Wednesday 20 November, 2019

#Earnings

From TheJournal.ie This is one way to spice up your financial earnings report Hawt This post contains images

This is one way to spice up your financial earnings report

Abercrombie and Fitch knows how to make an eye-catching presentation…

From TheJournal.ie Looking for a refund of the PRSI overcharge? Check the rules first Health Contribution

Looking for a refund of the PRSI overcharge? Check the rules first

The Department of Social Protection has handed back over €10 million so far to taxpayers who were overcharged – but now it’s getting swamped with enquiries.

From TheJournal.ie Prime numbers: the week in stats In Numbers

Prime numbers: the week in stats

Earthquakes! Earnings! Petitions! Racehorses! Healthy cities?! Our weekly numerical guide to the events of the last seven days.

AVERAGE weekly earnings are down 3.8% in the past year, according to figures released by the CSO. The figures reflect a 2.2% fall in hours worked and a 1.5% drop in average hourly earnings. The highest falls in weekly earnings were in Education (-9.1%) and Transport (-1.5%). Weekly earnings in the private sector fell by 2.8% compared with a fall of 5.5% in the public sector.

THE BRITISH OWNER of Ulster Bank, Royal Bank of Scotland, has recorded a pre-tax profit of €1.37 billion for the first six months of the year – but has seen losses in its Irish operations rise massively.

Ulster Bank reported operating profits of €223m for the first six months of the year but wrote off a massive €601m in impaired loans to record an operating loss of  €378m for the combined first and second quarters.

By comparison, its operating losses for the same six months were €9.6m while its provision for impaired loans was €189m.

Although the day-to-day business is still in significant profit, the bank’s earnings are obliterated by the volume of its loans which it believes it won’t ever receive back.

The results come just two days after AIB announced similarly impaired results, having lost €963m in loans transferred to NAMA and seeing massive losses on loans written off as it posted a €2bn pre-tax loss for the first six months.

They also come a week after the bank – along with Anglo Irish Bank – moved to take control of the Arnotts department store, which is believed to owe Ulster Bank up to €144m.

Releasing the results, the bank said that economic conditions remained challenging with its customers’ credit quality being hit by the continued pressure on property prices.