Archive for May 2024
The Hidden Costs of Business: Identifying and Reducing Unnecessary Expenditures
In the quest for profitability and growth, businesses often focus on boosting revenue and overlook the significant impact of hidden costs. These are the expenses that are not always obvious but can cumulatively drain resources and reduce overall efficiency. Identifying and reducing these unnecessary expenditures is crucial for enhancing the financial health and operational effectiveness…
Read MorePTSB cuts mortgage rates for the third time this year
Having eased considerably last year, fuel forecourt prices are on the rise once again. In the space of a month average fuel prices have risen by 10-13.5%, according to AA Ireland, in no small part due to the latest phase of the Government’s excise duty restoration. PTSB has announced cuts to its standard three-year fixed-rate…
Read MoreIrish economy forecast to grow by 1.2% this year – EU
The European Commission has maintained its expectations for the performance of the Irish economy this year with a predicted GDP growth rate of 1.2%. In its Spring 2024 Economic Forecast, published today, the Commission has also forecast GDP growth of 3.6% for 2025, up from 3.2% predicted in the Winter Economic forecast which was published…
Read MoreEfficient Capital Allocation: Ensuring Your Investments Align with Business Goals
Capital allocation is a critical decision-making process that determines how a business invests its available financial resources. It involves choices about investing in new projects, expanding operations, or returning value to shareholders. For a business to thrive, it must ensure that its capital allocation strategy aligns with its long-term goals and market position. This article…
Read MoreOil slips on signs of weak fuel demand, strong dollar
Oil prices extended declines today amid signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid seven cents (0.1%) to stand at $82.72 a barrel this morning, while US…
Read More42% of Ireland’s electricity powered by gas in April – Gas Networks Ireland
Gas generated 42% of Ireland’s electricity in April, new figures from Gas Network Ireland show today. After a notably windy period in February and March, gas was the most dominant contributor to electricity generation last month as it surpassed wind energy’s contribution of 36%. Gas Network Ireland said that gas was the primary source of…
Read MoreRevenue issues demands to 11,700 firms over warehoused debt
Almost 90% of the €1.65 billion debt which was still warehoused at the start of last month has been repaid or is in the process of being repaid, Revenue has said. The debt warehousing scheme was introduced near the start of the Covid-19 pandemic to help firms struggling with cash flow as a result of…
Read MoreUK exits recession with better-than-expected 0.6% GDP growth
Britain’s economy grew by the most in nearly in three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an election. The Office for National Statistics said UK gross domestic product expanded by…
Read More90% jump in ‘green’ loan drawdowns last year
The number of green loans drawn down last year jumped over 90% when compared to 2022, new data shows. A green loan includes green car or auto finance and green home improvement loans, The data from Banking and Payments Federation Ireland shows that 4,266 such loans were drawn down last year. The value of these…
Read MoreHalf of adults happy with current State pension age of 66
One in every four adults would choose to take the State pension six years earlier, even if it meant they received €60 less a week from it, new research has found. But less than one in five said they would stay at work until they were 70 in order to get an additional €60 a…
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