Opening Bell: Irish exporters' "currency crisis," property market stresses, trading fraud fallouts

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Business lobby group IBEC has warned that Irish jobs are under threat in the wake of the Brexit vote as companies face a "full-blown currency crisis."

It says that the government needs to take "urgent" action to deal with the negative affect that the vote will have on Irish businesses.

Speaking to Newstalk Breakfast, Ibec director of policy Fergal O’Brien described the situation as "very severe" - warning that exporters who operate on tight margins are particularly vulnerable to currency swings.

He added that sterling values may continue to fall and that the group advised businesses before the referendum that the euro and sterling could hit parity if the UK voted out.


Employers in the capital say that Dublin's housing crisis is the biggest problem that their staff face.

A survey of 292 businesses from the Dublin Chamber of Commerce showed that one-third of employers found that a lack of property in the city is the main concern raised by workers.

The Chamber said that pressure to save for home deposits under the Central Bank's new rules is causing more stress for employees than mortgage repayments - it argues that Dirt relief for first-time buyers has "failed."

Concerns were also raised over the level of money being invested in public transport in Dublin.


Kweku Adoboli, a London-based trader who's trading scam cost Swiss bank UBS £1.5bn has said that banks have not learned lessons from the financial crisis because he believes that bosses avoided jail-time while more junior employees took the blame.

He says that employees face pressure to make profits "no matter what" - and this culture is not changing as firms continue to try to maximise profits.

When Mr Adoboli was jailed in November 2012 police described his operation as "the biggest fraud in UK history."


Almost two thirds of tenants find it difficult to get deposits back from landlords, according to a new Red C survey. 

There's 40% less rental space available than this time last year and rents have increased by over 8% nationally.

Students' union the USI is launching a new deposit management service today with start-up business 'Deposify'.