Archive for August 2024
Mortgages make up 10% of credit union loan book
Mortgage lending at credit unions increased by 10% to €518 million in the three months to the end of June. That’s according to the latest quarterly results from the Irish League of Credit Unions. Mortgages now make up nearly 10% of the total credit union loan book. The ILCU puts this growth down to demand,…
Read MoreEvaluating the Financial Impact of Supply Chain Disruptions
In today’s interconnected global economy, supply chain disruptions can have significant financial consequences for businesses. Whether caused by natural disasters, geopolitical tensions, pandemics, or logistical challenges, disruptions can ripple through supply chains, affecting everything from production schedules to customer satisfaction. At KAAS we know that understanding the financial impact of these disruptions and implementing strategies…
Read MoreHospitality was the sector with the biggest employment drop in June – CSO
The sector that recorded the largest decrease in employment in June was accommodation and food services, new data from the Central Statistics Office (CSO) shows. Amid claims from industry organisations of widespread closures of restaurants and cafes, employment in the sector fell by 1% in the month according to the CSO’s monthly estimates of payroll…
Read MoreGoldman Sachs lowers odds of US recession to 20% from 25%
Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months to 20% from 25% following the latest weekly jobless claims and retail sales reports. Earlier this month, the brokerage raised the odds of a US recession from 15% after the unemployment rate jumped to a three-year…
Read MoreFuel sector seeks action on high petrol and diesel prices
The proportion of the price of diesel accounted for by tax will hit 54% following an expected increase in the carbon tax in October’s budget. This will put Ireland at the top of the European league when it comes to tax on diesel, alongside Malta, according to Fuels for Ireland. While 57.2% of the cost…
Read MoreISME warns no justification for €1 rise in minimum wage
The small and medium sized business organisation ISME has said there would be no justification for a further increase in the national minimum wage of €1 in the budget. It follows a report in today’s Irish Independent that the Low Pay Commission has recommended increasing the basic pay rate to at least €13.70 next year.…
Read MoreOil prices set for weekly gains on renewed enthusiasm around US economy
Oil prices were set for a second straight week of gains despite edging lower today, as recent US economic data boosted optimism over demand from the world’s top oil consumer. Brent crude futures have risen about 1.3% this week, while US West Texas Intermediate crude futures have increased about 1.2%. On Friday, Brent fell 22…
Read MorePopulation growth exceeds new home delivery by almost 4 to 1
The growth in the Irish population between 2015 and 2023 exceeded the delivery of new homes by a ratio of nearly four to one, new research by property advisory Savills has found. Countries across the world are facing housing shortages, but Savills said its report demonstrates the extent to which Ireland is an outlier in…
Read MoreThe Future of Remote Work: Financial Implications for Your Business
Remote work has evolved from a temporary solution during the global pandemic to a permanent fixture in many industries. As businesses adapt to this new normal, understanding the financial implications of remote work is essential for sustainable growth and success. This article from KAAS Kildare Audi…
Read MoreResidential property prices rise 8.6% over year to June – CSO
Residential property prices rose by 8.6% nationally in the year to the end of June, new data from the Central Statistics Office shows. It is the highest rate of property price inflation recorded since October 2022. The monthly rate of increase continued to accelerate, with prices rising by 0.7% in June compared to 0.4% in…
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