Opening Bell: Hungary undercuts Irish corporation tax, Tesco reject sterling excuses, US workers eye up Ireland

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Hungary is set to undercut Ireland and introduce the EU's lowest corporation tax rate.

Hungarian prime minister Viktor Orbán announced on Thursday that the country will lower its tax rate for businesses to single digits.

The new 9% rate will apply from next year, becoming the lowest in the EU.

Ireland currently offers the lowest rate, at the much-discussed 12.5%.

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Tesco's head honcho has argued that suppliers should not use the weak pound as an excuse to raise prices.

Chief executive Dave Lewis believes that global companies should not put profits first.

He spoke out after Unilever tried to enforce price hikes of 10% last month on products like Lyons Tea, Hellman's mayonnaise and Marmite.

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Over half of consumers are not aware that their rights are stronger when they buy from EU websites.

The Competition and Consumer Protection Commission is reminding people in the run-up to Black Friday and Cyber Monday that it's easier to return goods bought online than from bricks and mortar stores.

It comes as Retail Ireland figures show that online sales increased by 20% in the last quarter.

Fergal O'Leary from CCPC is encouraging people to inform themselves about their rights:

"If you buy from a website within the EU, you have very strong protection. In some cases, better than if you shopped from a bricks and mortar store.

"So what we would like to see is that consumers have a good understanding of their rights so they can get what they want at the right price and that they know what to do if something goes wrong."

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Job searches by US workers wanting to live in Ireland have almost trebled since Donald Trump won the election.

Figures from the website Indeed.com show that Ireland is now the third most popular country to potentially move to, with with a surge in inquiries of 191%.

The first choice is New Zealand – with a 405% spike in interest – followed by Canada.

Districts that voted for Clinton have been keenest to emigrate.