The Data Protection Commission (DPC) has found the Department of Employment Affairs and Social Protection's processing of personal data during the issuing of Public Services Cards (PSC) for use in transactions between a person and a public body other than the department itself to be illegal. The commission has given the department three weeks to stop all processing of personal data where a PSC is being issued solely for the purpose of a transaction between a member of the public and a public body other than the department itself. | Government bond yields in the euro area are hovering near record lows, reflecting heightened expectations for European Central Bank easing soon and concern about global recession risks. Ten-year bond yields in Germany and Italy were poised to record their biggest weekly falls since mid-2018, while Spanish 10-year yields, down 23 basis points this week, are on track for their biggest weekly fall since 2016. The yield on Irish 10-year bonds also fell sharply, shedding 12 basis points this week to stand at -0.129%. | Gas Networks Ireland and forecourt operator Circle K has opened the country's first publicly-accessible, fast-fill Compressed Natural Gas station at Dublin Port. The station can fill a heavy goods vehicle in less than five minutes, with capacity to serve 50 vehicles per day. CNG can reduce emissions from heavy goods vehicles by up to 22%, while nitrous oxide emissions are 70% lower. The station could also reduce emissions further in the future, as more renewable gas is introduced to the Irish network. | US stocks rebounded in choppy trading today, as strong July retail sales data and Walmart's upbeat results eased some fears about the economy slipping into recession. The volatility continued in Europe with stock markets closing mainly in the red having swung between gains and losses for much of the day. London's FTSE 100 index fell to a six-month low. The Dax in Frankfurt and the Cac in Paris also closed lower. | Household's net worth reached a record high in March, according to the Central Bank, while debt levels fell to a near 14-year low. The country's households were worth a combined €772 billion by the end of the first quarter, as the value of investments and financial assets increased. That more than made up for a €2 billion fall in the value of housing assets - reflecting a second quarterly decline in house prices. | There were fewer merger and acquisitions involving Irish-based firms in the first half of the year, however the total value of the deals made rose considerably compared to the same period of 2018. The latest Mergers and Acquisitions Review from William Fry has recorded 75 deals between January and June - down from 93 deals in the first half of 2018. However the value of those deals hit €2.5 billion - a 24% increase year-on-year.   |||