Opening Bell: Irish confidence hits new high, Hailo becomes MyTaxi, Dublin hotel prices

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Irish consumer confidence has reached its highest level since the recession, with the Republic now placed as the sixth most confident country in Europe.

The latest Nielsen Global Survey of Consumer Confidence and Spending Intentions placed Ireland's Consumer Confidence Index at 100 for the final two quarters of 2016.

It was the first time the mark was hit since the last quarter of 2007.

Measuring attitudes on topics such as job prospects and personal finance, an index score of more than 100 indicates degrees of optimism, whilst below 100 measures degrees of pessimism.

Some 58% of Irish people were feeling positive about their job prospects at the end of the year, the third highest in Europe, behind the Czech Republic and Switzerland.

Conversely, the percentage of people making 'rainy day' savings (59%) was at its lowest level since the recession.

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The average daily rate for a Dublin hotel rose 15% last year, and is set to climb a further 15% over the next two years.

Dublin's occupancy levels continue to top European tables, with a 2016 occupancy rate of 82.5% recorded in PricewaterhouseCoopers' latest annual European cities hotels report.

London ranked in second place, with 81.3%, followed by Amsterdam at 78%.

PwC estimates that Dublin will lead the list of 17 cities over the next two years.  

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Hailo's rebrand as MyTaxi takes place today, as users are switched over from the taxi app following a merger between the two.

Hailo – which has a network of 10,000 drivers across the country – will guide you through a set instructions to transfer your account to the MyTaxi app.

The company has said that customers will be able to benefit from a number of new features, such as the option to save your favourite drivers and let you friends know where you are on your journey.

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The French company behind Peugeot has confirmed a €2.2bn agreement to buy the Opel and Vauxhall brands from General Motors Europe.

Buying GM's loss-making European operations will make PSA Europe's second biggest carmaker after Volkswagen and ahead of French rival Renault.

Meetings will take place in Paris today.

It has been reported that the two companies want to announce a deal before the start of the Geneva motor show on Tuesday.