Latest news with #AIB
Irish Times
9 hours ago
- Business
- Irish Times
Global markets soar amid signs of progress on US trade deals
Global markets soared on Thursday as investors digested US corporate earnings along with signs of progress in tariff negotiations between the US and its trading partners. Dublin Euronext Dublin was up 1.3 per cent, largely boosted by strong performances from the Irish banks. Bank of Ireland and AIB were up 4 per cent and 3 per cent respectively, with the banking sector generally up across Europe. Ryanair continued its recent rise, climbing 0.7 per cent. Its peer airline Wizz Air finished down 0.5 per cent after it missed first-quarter profit estimates. 'There was a bit activity around the airlines due to that news flow, and Ryanair benefited from that,' said a trader. READ MORE Elsewhere, two heavyweights on the index, food giant Kerry Group and Cavan-based insulation specialist Kingspan, both finished up 0.5 per cent. London Britain's FTSE 100 rose to a record close, boosted by upbeat corporate results and optimism over a potential EU-US trade agreement. The benchmark FTSE 100 closed up 0.9 per cent, while the domestically-oriented midcap FTSE 250 gained 0.6 per cent. The personal care and grocery stores index led sectoral gains, up 2.6 per cent, boosted by Reckitt, up 9.9 per cent, after the consumer goods company raised its annual revenue forecast. Healthcare stocks rose 1.9 per cent with AstraZeneca up 2.1 per cent after the drugmaker's rare immune disorder drug succeeded in an advanced trial. GSK added 1.4 per cent after the US Food and Drug Administration on Wednesday extended its review of the drugmaker's blood cancer drug. Media stocks advanced 2.3 per cent, led by ITV which rose 13.3 per cent after the broadcaster's half-year results beat forecasts. Conversely, precious metal miners fell 1.4 per cent, tracking a drop in gold prices. Endeavour Mining fell 1.3 per cent, and Fresnillo was down 2.1 per cent. Europe Shares on the Continent advanced amid reports the European Union and Washington were close to clinching a tariff agreement, close on the heels of a similar deal with Japan. MSCI's gauge of stocks across the globe rose 3.03 points. The pan-European Stoxx 600 index rose 0.23 per cent, while Europe's broad FTSEurofirst 300 index rose 0.2 per cent. The Dax 40 in Frankfurt gained 0.2 per cent, but the Cac 40 in Paris fell 0.4 per cent. New York The S&P 500 and the Nasdaq hit record highs as big technology stocks rose after Google parent Alphabet's robust earnings, while the Dow was weighed down by losses in IBM, UnitedHealth, and Honeywell. In morning trading, the S&P 500 gained 0.25 per cent; and the Nasdaq Composite gained 0.25 per cent. Alphabet rose 1.9 per cent after it raised its 2025 capital spending forecast, shrugging off trade jitters, and reinforcing investors' confidence in AI investments and returns. Losses in UnitedHealth, IBM and Honeywell weighed on the blue-chip Dow, which fell 0.33 per cent – though it remained close to its December 4th record high. UnitedHealth lost 3.7 per cent. The insurer revealed it's co-operating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations. IBM dropped 8 per cent as its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division. Honeywell, meanwhile, dipped 4.6 per cent despite topping Wall Street's expectations and raising its annual outlook. Electric vehicle maker Tesla tumbled 9 per cent, as CEO Elon Musk warned of 'a few rough quarters' due to cuts in EV incentives. The stock has fallen about 25 per cent for the year so far. Some of Wall Street's heavyweights were starting to feel the sting of Trump's sweeping tariffs. American Airlines fell 9.2 per cent after forecasting a bigger-than-expected third-quarter loss, hurt by sluggish domestic travel demand. – Additional reporting: Agencies
Irish Examiner
10 hours ago
- Business
- Irish Examiner
Scam texts up by 150% this month, says AIB
Phone users have been warned of a surge in fraudulent text messages, with the number of scam texts rising as 150% last month, according to AIB. Many of the texts purport to come from legitimate businesses and state bodies, with some claiming to be from MyGov and MyAccount. The messages come despite recent legal changes implemented by ComReg aimed at curbing the scam text scourge, which mean business-to-person unregistered SMS Sender IDs are modified to 'Likely Scam'. However, personal mobile numbers are not included in the updated legislation. "The issue would require an SMS filter for private mobile numbers and this requires legislation, as mentioned in the Programme for Government," a ComReg spokersperson told the Irish Examiner. Thousands of phone users have been targeted by the latest wave of scam texts, with banks including AIB urging customers to be on the lookout. Increasing numbers of fraudulent text messages asking the recipient to call a phone number. "AIB has detected a significant rise in the number of customers receiving fraudulent text messages claiming to be from the bank this week. The messages have contributed to a 150% increase in July on the number of fraudulent messages sent in June," said an AIB statement. "Following recent changes by ComReg, they are now predominantly coming from unregistered mobile numbers. And these messages often reference other legitimate company names who are in no way connected to the scam," said a statement from AIB. "Customers are being tricked into thinking their accounts are compromised and asked to move their money to another financial institution for safekeeping." AIB head of financial crime Mary McHugh said: "Take a moment to ask yourself, 'could this be a scam?'. That's why you should wait a sec and double check, and never move your money to another account after receiving a call or text claiming to be us." Meanwhile Revenue said phishing emails, texts and phone calls seeking personal information are "increasingly common". "Revenue never contacts customers in such a manner, and never seeks personal information such as bank account details via phone call, SMS text message or email. Anyone who receives a suspicious or questionable phone call, text message or email purporting to be from Revenue is advised to end the call or delete the communication immediately."
The Irish Sun
12 hours ago
- Business
- The Irish Sun
Irish bank issue urgent warning as thousands at risk amid 150% rise in scam texts to ‘steal your money' this month
AN URGENT warning has been issued for thousands of Irish banking customers over a 'significant rise' in scam text messages. AIB, the spike in the number of customers receiving fraudulent text messages claiming to be from the bank this week. 3 Mary McHale wants bankers to be on alert over the increase in scam texts Credit: Shane O'Neill, Coalesce 3 The scam texts are designed to instil a sense of urgency to react Credit: AIB The messages have contributed to a 150 per cent increase in July compared to the amount of The scam texts can be delivered in AIB's genuine thread, but following the recent changes by Comreg, they are now predominantly coming from unregistered phone numbers. Mary McHale, Head of Financial Crime warned: "AIB is outlining a common fraud type that criminals are using to steal your money on foot of a large increase in text message scams we detected this week. "We want customers and non-customers to be alert, check the advice on our AIB security centre, and to take a moment to ask yourself, 'could this be a scam?'. READ MORE ON SCAMS "That's why you should wait a sec and double check, and never move your money to another account after receiving a call or text claiming to be us. Where customers are scammed, AIB deals sympathetically with them on a case-by-case basis. "We are continuously investing to enhance our fraud monitoring systems in response to new and existing fraud trends. "While other institutions don't offer around the clock support to keep money safe, our fraud helpline is open 24/7, seven days a week to support our customers when they need us. "We also work closely with industry stakeholders including telecommunications companies, the Banking and Payments Federation of Ireland (BPFI), and the Gardai to detect and report fraud trends, as it's only by communicating and coordinating across the whole of society that together we can be effective in combating these criminals." Most read in Money For more information on protecting yourself from fraud, customers can visit the security centre on The My mum's being scammed by an AI deepfake of 'Owen Wilson' who paid her £7 to 'prove' his identity - would you fall for it? Customers are tricked into thinking their accounts are compromised and asked to move their money to another financial institution for safekeeping. One example falsely claimed the transaction was from Foley's Plumbing Limited, a legitimate business. Foley's Plumbing has a notice on its website warning customers about the scam. The scam texts are designed to instil a sense of urgency to react, instructing people to call a provided Eventually, they'll be connected to an individual posing as a member of the fraud team, who falsely claims that the customer's AIB account has been compromised. They will be advised to transfer their HOW TO IDENTIFY AND AVOID SCAMS? Unfortunately, scam messages of any kind can be difficult to identify. It is important to be prudent by following these tips. Always be extra vigilant when you receive messages from unknown numbers, especially those that send links, ask for personal information, or require you to input any bank or card information. DO'S : Hang up immediately if a caller pressures you, claims urgent action is needed, or threatens negative consequences. If a call or text message claims to be from a bank, government agency or a company you know do not engage directly. Look up their official contact details to verify the number. Check messages for spelling errors or incorrect details. Block a number if they persistently call you or engage in suspicious behaviour. If you have friends or relatives abroad. Store their numbers in your phone (including the country prefix). If you are getting persistent scam calls from a number, contact your service provider, and request the number be blocked. DON'TS : NEVER provide any personal information, (bank details/PPS number/credit card details/name and address/passport numbers, passwords, etc.) Do not follow instructions from a recorded message. Be wary of receiving multiple calls or missed calls from the same unfamiliar number, especially if it is like your own number. Do not call back any number that you do not recognise or where no voicemail message was left. If you click on a link in a scam text, close the web page and message immediately. Do not download any unrecognised software or programs. The fraudster then provides the customer with what appears to be a 'new' account number, and customers are instructed to move their funds again to this account. Unfortunately, this so-called new account is controlled by scammers, resulting in victims losing all transferred funds. The scammers are highly skilled at tricking customers into believing they will stop fraudulent transactions from their accounts. They may even ask some questions, pretending to investigate how your account was compromised. Sometimes, they don't ask for security codes or login information to make the scam seem more legitimate. Customers are urged to remain vigilant and to verify any suspicious communications directly with the bank, the AIB's genuine contact details are listed on their official website. They are urged to never transfer money to any account after receiving a text or call purporting to be from AIB. 3 The AIB is urging customers to be aware of the scam texts Credit: Reuters
BreakingNews.ie
13 hours ago
- Business
- BreakingNews.ie
Companies have right to strike balance on remote working, McEntee says
Companies have the right to strike a balance on remote working based on their business, Minister for Education Helen McEntee has said. It comes as several companies and State departments shift away from the remote working arrangements introduced in the aftermath of the pandemic. Advertisement The option to work from home came into force during the Covid-19 pandemic due to restrictions to prevent the spread of the virus. A right to request remote working came into effect from March 2024, inspired by those arrangements. Mandated 'hybrid' arrangements by employers have raised concerns, where people are able to work from home some days but must come into the office a minimum number of days a week. Earlier this year, the Department of Social Protection made efforts to increase the minimum number of days staff worked from the office from one to two. Advertisement The Department of Finance had also requested an increase in the number of office days, in a move that was resisted by unions. This week, reports emerged that AIB is to reduce the option of working from home five days a week to just two for non-customer facing staff. Asked about the shift in the option to remote work and the effect it would have on families, Ms McEntee said companies 'have that autonomy'. 'I'll be honest, I think it's important that we provide that flexibility and that structure at a government level, but that we also have that autonomy within companies as well,' she said in Dublin. Advertisement 'For some people, it's simply not possible to work from home [with] the type of job or the career they're in. 'For others, there is that flexibility, and I know certainly some companies like to have that balance, that people are in work, they're in the office, they're getting to know their colleagues. 'There's a way in which you can work that you can't when you're at home, or you're perhaps not meeting people face to face. Business Legislation in employers' favour but 'claims of de... Read More 'So I think it's about providing that structure to allow that kind of flexibility. Advertisement 'But ultimately, companies do have to make decisions based on what's right for them, what's right for the way in which they're working, while at the same time trying to support and recognise and acknowledge that people have families, that they have school, that they have commitments, that they have to try and work with them to make sure that everybody benefits from it. 'But you know, it is about that flexibility and the same time acknowledging, for some people it works better than others, and for some companies that will work better than for others.'
Irish Independent
a day ago
- Business
- Irish Independent
Donald Trump's tariff threat means mortgage holders must wait for a further ECB cut in interest rates
However, there is a chance of a ninth cut in September, observers have said. Two mortgage lenders that are part of AIB said they were cutting their rates and committed to continue offering cash back on certain home-loan products. EBS and Haven, the broker-focused units of AIB, are reducing mortgage rates by up to 0.5 percentage points on some products. The cuts are for non-green mortgages and apply to new and existing customers coming off fixed rates or moving from a variable rate. Haven and EBS are reducing all other non-green fixed rates by 0.2 percentage points Broker Michael Dowling questioned why EBS and Haven's green rates were not coming down. The 0.5-point reductions are for the EBS two-year fixed-rate product and the Haven three-year fixed-rate product. Haven and EBS are also reducing all other non-green fixed rates by 0.2 percentage points. The new rates are available to new and existing customers from this week. Customers switching their mortgage to EBS and Haven who meet the criteria will also benefit from the extension of the Cashback and Switcher offers to the end of December next year on certain products. Mr Dowling, of Irish Mortgage Brokers, said AIB announced significant reductions last October to its green rates, making them the cheapest in the market. However, they did not apply to EBS or Haven customers, despite both banks being 100pc owned by AIB. Mr Dowling said the 0.5 percentage points reduction would apply to the two-year fixed option with EBS and the three-year fixed option with Haven. 'The other non-green rates for AIB, EBS and Haven remain expensive compared to what competitors are offering,' he said. 'Extraordinarily, nine months later, there are no rate reductions to the green rates from EBS and Haven.' Mr Dowling questioned why AIB 'discriminates' in the rate offering from the three entities in the group. Today's meeting of the ECB governing council is expected to pause rate reductions following eight previous cuts since June last year up to last month. Policymakers will have their eyes on tariff threats from US president Donald Trump and the continuing global political turmoil. Up to now there have been eight quarter-point cuts that have brought the refinancing rate, off of which tracker mortgages are priced, to 2.15pc. One further rate cut later in the year is still on the cards, probably in September ECB president Christine Lagarde said last month that the cutting cycle was nearing its end. Mr Dowling said he expected the ECB to leave interest rates on hold. 'There is too much uncertainty in the market, and I expect the ECB to review rates at their meeting on September 11,' he added. Daragh Cassidy, of price comparison site said that after seven consecutive rate cuts, and eight in total since last June, it was almost a given that the ECB would keep rates on hold at today's meeting. He said eurozone inflation was now pretty much on target at 2pc. 'However, one further rate cut later in the year is still on the cards, probably in September,' he added.
