Latest news with #US-tariff
The Journal
5 days ago
- Business
- The Journal
Cash now makes up just €1 out of every €8 that's spent in Ireland
CASH NOW REPRESENTS only one-in-eight Euro spent in Ireland. New figures from Bank of Ireland show a 'stark' change from the period preceding the Covid-19 pandemic, during which cash accounted for one third of all transactions. The bank also said that ATM withdrawals have continued to decline. They were down 3.6% in the year to June. Elsewhere, credit and debit card spending by Bank of Ireland customers was up 5.7% in June compared to the same month last year. This is well ahead of Consumer Price Index inflation at 1.8%. The credit and debit card data suggests that consumer spending is expanding faster than Bank of Ireland's current forecast for a 2.4% real gain, closer to the upwardly revised 2.9% seen last year. This reflects Ireland's 'rapid pace of job creation and pay growth' are driving consumer spending upwards. Advertisement 'The figures indicate substantial real price adjusted gains for Irish households and little spending impact from US-tariff related uncertainty and the recent dip in consumer confidence,' a spokesperson for Bank of Ireland said. Holiday related spending and electrical goods have driven expenditure higher. Services spending grew by 5.6% in June year on year, while accommodation spednifn was up 4.3% on the year, and car rentals by 16%. Electrical goods sales were up 16%. Clothing sales were down 2.1%. Bank of Ireland's Chief Economist Conall Mac Coille said of the figures, 'Despite global uncertainties and a dip in consumer confidence, Irish households continue to spend confidently, supported by solid job creation and income growth. The shift away from cash also continues, with ATM withdrawals down and digital payments now dominating everyday transactions.' The Central Statistics Office's annual revisions to Ireland's national accounts data revealed that consumer spending expanded at a substantially sharper 2.9% pace in 2024 (or 7% in nominal terms) than the 2.3% initially estimated. The revision is consistent with other indicators such as the 7.3% rise in VAT receipts to €23bn in 2024 and 7.5% rise in gross household disposable incomes. Household savings also remain strong – the latest Central Bank data shows household deposits grew by 6.5% to €165 billion in May, close to the fastest pace in seventeen years (excluding the pandemic period). Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
RTÉ News
5 days ago
- Business
- RTÉ News
Credit and debit card spending rose by 5.7% in June
Credit and debit card spending rose by 5.7% in June compared to the same month last year, according to new figures from Bank of Ireland. The bank said the data shows consumer spending remained robust last month and "well ahead" of the rate of inflation of 1.8%. The figure is down from the 6.5% year-on-year increase recorded in card spending by Bank of Ireland customers in May. However, BOI said the June numbers indicate "little spending impact from US-tariff related uncertainty and the recent dip in consumer confidence." Holiday spending was up sharply last month, with accommodation up 4.3% year-on-year, while spending on car rentals increased by 16%. The bank said the retail sector was helped by a spike in electrical goods sales, which rose by 16%. While clothing sales were down 2.1% on the year, "albeit reflecting that consumer prices for clothing (-2.4%) and footwear (-1.8%) have fallen over the past year." Notably, the move away from households using physical cash is continuing. Decrease in ATM withdrawals The BOI data shows ATM withdrawals were down 3.6% on the year, with cash now representing just one-in-eight euro spent. The report said the data suggests consumer spending is "expanding faster than Bank of Ireland's current forecast for a 2.4% real gain in 2025, closer to the upwardly revised 2.9% pace seen in 2024." Bank of Ireland's Chief Economist, Conall Mac Coille, said the figures show that Irish consumer spending "remains resilient and robust." He said the growth was driven by strong holiday and retail activity, especially in accommodation, car rentals, and electrical goods. Despite the global uncertainties and a dip in consumer confidence, Mr Mac Coille said Irish households "continue to spend confidently, supported by solid job creation and income growth." He also noted that the indicates that "the shift away from cash also continues, with ATM withdrawals down and digital payments now dominating everyday transactions."
Time of India
16-06-2025
- Business
- Time of India
I-Sec downgrades Ceat to Hold, target price Rs 3,625
ICICI Securities has downgraded Ceat to Hold (earlier Add) with a target price of Rs 3,625. The current market price of Ceat is Rs 3743.9. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 15187.59 crore, operating in the Tyres sector. Ceat's key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69 % from last quarter Total Income of Rs 3303.33 crore and up 14.36 % from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in latest quarter. The company?s top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Investment Rationale Over the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), ICICI Securities remains watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term. Valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E EPS. Promoter/FII Holdings Promoters held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent.
Economic Times
16-06-2025
- Automotive
- Economic Times
I-Sec downgrades Ceat to Hold, target price Rs 3,625
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has downgraded Ceat to Hold (earlier Add) with a target price of Rs 3,625. The current market price of Ceat is Rs 3743.9. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 15187.59 crore, operating in the Tyres key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69 % from last quarter Total Income of Rs 3303.33 crore and up 14.36 % from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in latest company?s top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), ICICI Securities remains watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term. Valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent.
Time of India
06-06-2025
- Automotive
- Time of India
I-Sec downgrades Ceat to Hold, target price at Rs 3,625
ICICI Securities has downgraded Ceat to Hold from Add with a target price of Rs 3625. The current market price of Ceat is Rs 3686.95. Ceat, incorporated in 1958, is a Mid Cap company with a market cap of Rs 14646.17 crore, operating in the Tyres sector. Ceat's key products/revenue segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3425.14 crore, up 3.69% from last quarter Total Income of Rs 3303.33 crore and up 14.36% from last year same quarter Total Income of Rs 2994.92 crore. The company has reported net profit after tax of Rs 93.24 crore in the latest quarter. The company's top management includes Mr.H V Goenka, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Mr.H V Goenka, Pardeshi, Vardhan Goenka, Banerjee, K Chowdhary, E Cohade, C Choksey, Chittilapilly, Khaitan, S Gupta, Sarwate, Nair, V Pandit, Kripalu, Pardeshi. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Live Events Investment Rationale ICICI Securities recently attended CEAT's Investor Day to understand its medium-term growth strategy. Over the next two years, CEAT aims to gain leadership position in the PV replacement segment (currently, no. 3 player with 16% market share); it is also targeting ~200bps of market share expansion in the TBR segment. CAMSO?s integration is underway. Near-term focus shall be on driving growth and synergies in the OHT business. While medium-term prospects remain strong (with respect to growth/margin), we remain watchful of US-tariff related uncertainties potentially impacting growth/margins in the near term while valuations remain rich, post the stock's recent run-up (~25% in last two months). The brokerage downgrades the stock to HOLD, from Add, with a target price of Rs 3,625 (unchanged) based on 16x FY27E EPS. Promoter/FII Holdings Promoters held 47.21 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.28 per cent, DIIs 21.51 per cent.
