Archive for June 2025
First time buyer property and mortgages rise significantly – BPFI
One in three first time buyer (FTB) homes were valued over €400,000 in 2024, three times the 2019 share, according to the latest BPFI mortgage report. The Mortgage Market Profile Report H2 2024, by Banking and Payments Federation Ireland shows that there has been a significant increase in FTB property and mortgage values between 2019…
Read MoreUS added over 1,000 new millionaires a day last year – report
Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a new report shows. Private individuals’ net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global…
Read MoreSwiss National Bank cuts interest rates to zero
The Swiss National Bank cut its interest rate to zero today in response to falling inflation, appreciation pressure on the Swiss franc and economic uncertainty caused by the US administration’s unpredictable trade policy. The SNB reduced its policy rate by 25 basis points from 0.25%, as expected by markets and a Reuters poll. It was…
Read MoreCentral Bank revises down housing and growth forecast
The Central Bank is revising downwards its forecast for how many homes will be built this year and over the following two years. It expects 32,500 will be finished this year, a reduction of 1,500 on its previous forecast last March. It says 37,500 will be completed next year, down 2,500 from its last projection,…
Read MoreClimate body recommends rise in grants to buy EVs
The Climate Change Advisory Council (CCAC) is recommending that the Government provides an additional €10,000 in grants to low income households for the purchase of electric vehicles, particularly in areas with limited access to public transport. It is also calling for scrappage schemes and other transport-related incentives to help accelerate the switch to battery-electric vehicles…
Read MoreTransatlantic airfares slump as Europeans skip US travel
Airfares from Europe to the United States have dropped to rates not seen since before the Covid-19 pandemic, as travellers from Western Europe lead a pullback in travel to the US that is expected to continue until at least next month. Overseas arrivals to the United States fell 2.8% in May from a year ago,…
Read MoreAmazon’s corporate workforce may shrink as AI takes over routine tasks
Rollout of generative AI and agents will reduce Amazon’s total corporate workforce in the next few years, Andy Jassy, CEO of the online retailer has said in a note to employees. Artificial intelligence is reshaping the global workforce by automating routine and repetitive tasks, and industry leaders expect this to prompt a reduction or transformation…
Read MoreHousehold saving rate slows to 14% in first quarter
New figures from the Central Statistics Office show that households saved 14% of their income in the first three months of this year. This saving rate was down from 14.8% in the fourth quarter of 2024. The CSO said the saving adds to overall household wealth in the form of buying new homes, growing bank…
Read MoreMinimum standard of living costs rise by almost 20% since 2020 – SVP
Essential minimum living costs increased by 1.8% in the past year with a cumulative increase of 18.8% nationally since 2020. The figures are contained in the annual Minimum Essential Standard of Living (MESL) report published by the Society of Saint Vincent de Paul. The research team found that households with older children (second-level age) were…
Read MoreState sells final AIB shares 15 years after banking crisis
The State has sold its remaining shares in AIB, Minister for Finance Paschal Donohoe said today. The State sold a 2.06% stake in AIB at a price of €6.94 per share. This will generate about €305.3m upon settlement and brings to €19.8 billion the total amount returned to the State to date from its investment…
Read More