Opening Bell: Hard Brexit, Deutsche Bank negotiatons, 50 jobs for Limerick

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Markets are preparing for a rocky start to the week after Theresa May’s unveiling of a definite timeline for the UK leaving the EU.

Ms May's announcement yesterday suggested that the UK could be heading for a difficult exit from the EU - and that emigration control may trump access to the Single Market when Britain leaves. A messy Brexit is likely to damage the Irish economy.

Europe's banking sector has continued to react to US calls for Deutsche Bank to pay major fines and the US Presidential election campaign is still adding to market jitters.


50 new jobs are being announced for Limerick - tech company Casa Systems is setting up a new base in the county and says the new positions will come on stream over three years.

The company creates the infrastructure for next generation broadband technology.

The jobs are supported by the IDA and will be based in Limerick's National Technology Park near UL.


Deutsche Bank shares surged late on Friday after AFP reported that the German bank was close to reaching a $5.4bn settlement with US authorities after the German bank was found to have mis-sold mortgage securities.

DB maintained throughout this controversy that its final payout would not be "anywhere near" the $14bn that the US Department of Justice had demanded.

The Wall St Journal reports that talks between the bank and the department are on-going and that a provisional deal has not been agreed.


The World Bank says that around 100 million fewer people are living in extreme poverty than in 2012 and that this number has continued to fall at pace despite struggles across the global economy.

It adds that renewed efforts to fight global inequality will be necessary to meet the goal of ending extreme poverty by 2030.

"It's remarkable that countries have continued to reduce poverty and boost shared prosperity at a time when the global economy is under performing," said Jim Yong Kim, the World Bank's president.

“Unless we can resume faster global growth and reduce inequality, we risk missing our World Bank target of ending extreme poverty by 2030. The message is clear: to end poverty, we must make growth work for the poorest," he continued.