Breakfast Business with Joe Lynam

The EU Pay Transparency Act should be in force by now but has been delayed. Fidelma McGuirk is the founder of Payslip is launching a new SaaS platform to make the dissemination of this information by employers a tad easier.  It’s called Lecora from Payslip and Fidelma told Joe all about the new platform. 

The US led war on Iran has had a material impact on Irish inflation and that is likely to stick around next year.  According to the latest quarterly bulletin from the Central Bank of Ireland, inflation will average at 3.4% this year and nudge down to 3.1% next year. Putting added pressure on household budgets and on companies to raise salaries to keep pace.  Speaking to Joe to discuss further was Thomas Conefrey is Head of Economic Analysis with the Central Bank of Ireland.  

Europe doesn't have any major tech companies nor social media platforms which means it can only control them through regulation and fines.  But they appear to be ineffective and the platform power appears to be growing rather than waning. Speaking to Joe this morning was the person in charge of that EU regulation. Henna Virkkunen is European Commission Executive Vice-President for Tech Sovereignty, Security and Democracy.

We’re only three weeks out from the big announcement and more details on the proposed new personal investment accounts in the budget.  They will enable households to potentially grow their money.  But there will be no such tax wrapper for any gains from investing in private Irish companies. Joe gets reaction to this with Chris Burge of the venture capital company Spark Venture Funding

Tuesday's business headlines review with Joe Lynam.

One of the more striking political U turns in American politics has been how billionaire tech bros have gone from criticising Donald Trump to actively and financially supporting him. Gil Duran wrote a NY Times bestseller which suggests that many well-known figures have turned to hard right. The book is called The Nerd Reich : Silicon Valley Fascism and the War on Democracy’ and Gil spoke to Joe this morning.

The big music festivals of the summer are behind us but that merely means that the organisers start to plan for next year. Jonny Boyle, Executive Creative Director of Fuel y runs the Beyond the Pale and Kaleidoscope festivals and Wellfest has just ended in Belfast. His company, Fuel, also organises huge corporate events for some of the biggest brands in the world.

 Joe Lynam along with Kathleen Brooks from XTB takes a run through Monday's business news headlines. 

Shares in luxury companies are very much out of favour. Some of that is down to a squeeze on incomes and some of it because fashion houses might have been overvalued as well as a dip in demand from the giant Chinese market. Stéphane Girod ihas written a book about the changes that are needed in the luxury sector called ‘Purposeful Luxury’. 

Friday business news review along with Joe Lynam and Kate English the Chief Economist with Deloitte. 

We’re going increasingly cashless in this economy.  90% of the near €50bn worth of point of sale payments in our shops were contactless.  According to the Banking and Payments Federation’s Payments Monitor for the first half of the year, mobile wallets such as Apple or Google pay now account for ⅔ of these contactless payments.Joining Joe to discuss this further was Gillian Byrne Head of Payments with the BPFI. 

Thursday's business headlines with Joe Lynam.

IPB Insurance is probably the biggest Insurance company in Ireland that you’ve never heard of. It provides mostly public liability cover for local authorities but also to entities with an ethical element to them. Any profits go back to the members and assets are valued at around €1.4bn these days.Joining Joe in studio was John Kearns is the Chief Executive of IPB insurance. 

The boss of the insulation giant Kingspan said this week that 50,000 homes could be built annually in Ireland. Thanks in part to the unblocking of some of the planning rules and action by the government.  One company which hopes this prediction is true is Evara formerly known as Quintain. They’re aiming to deliver 1350 homes themselves this year alone. To discuss this further with Joe was Michael Hynes the Chief Executive of Evara builders. 

Jonathan Healy takes a run through todays business headlines.

Dermot O’Leary Chief economist with Goodbody’s joined Jonathan to take a look at how Ireland’s big pharma exports affect euro zone growth. 

Is the Dubai dream over? Jonathan asked Aidan O'Brien is an Executive advisor and keynote speaker who advises business owners in Dubai and Ireland.

ISO 9001 and 14001 standards are changing from next week but companies will have 3 years to implement the relevant changes. To explain it all was Managing Director OrganiGo Ltd and Founder of ComplianceHub.ie Máire Griffin. 

Tuesday's business headlines review with Emmet Oliver.

Hybrid work is quickly becoming a large feature of working life. Although there are many benefits for employees, managers are expected to organise and coordinate how hybrid work is handled.To discuss further with Emmet was the Executive Director of Eurofound, Ivailo Kalfin. 

For the first time in years the government looks as if it’s going to seriously look at the high rates of capital gains tax by international standards.  One group of people who would welcome that would be the startup or scale up sector which currently has to pay 33% in tax if they sell their business. Joe spoke to Martina Fitzgerald is the Chief Executive of Scale Ireland. 

The European airplane-maker Airbus came from nothing 50 or so years ago to having 55% of the global commercial aircraft market with a massive backlog of orders.  It manufactures its planes all over Europe and even makes wings for the 220 range in Belfast these days. Joining Joe this morning was  Antonio Da Costa, the Vice President for Market analysis for Airbus.

Monday's business news review with Joe Lynam and Russ Mould from AJ Bell.

We know more about what the proposed Person Investment Accounts might look like when announced next month in the budget.  No minimum investment amounts and the old ‘deemed disposal’ tax rate might be abolished.  But what will it mean for the pensions industry which makes their money by persuading us to give our money to them for a long term growth in their pots?To discuss further along with Joe was Noel Freeley the Chief Executive of Royal London Ireland.

The circular economy is where used materials are given a second life to avoid merely being thrown out.  Currently only 11% of products get refurbished or components reused.  The Commission wants to increase that to 30% in its proposed Circular Economy Act. Joe met with Jessika Roswall the EU Commissioner for the Environment, Water Resilience and a Competitive Circular Economy. 

Joe takes a run through all the business news this morning along with Leonie MacCann from Irish Life investment Managers.

According to the digital bank Bunq, hybrid or distance employees face living costs of on average of €2804 per month.  Most of that of course goes on the €2000 a month average rents that people have to pay in the capital. Major European cities including Amsterdam, Berlin and Athens are all cheaper to work from home in. Joe discusses this further with Joe Wilson from Bunq.

Next week Canada’s ‘dollar for dollar’ retaliatory tariffs come into force against the USA after the breakdown of trade talks last week.  It could have a major impact on the Canadian economy since more than 70% of exports head to the US and the vast majority of beef exports are also sold south of the border.  The Agricultural Science Association holds its annual shindig today and one of the guest speakers is from the Canadian Cattle Association Jennifer Babcock.

Thursday's business headlines with Joe Lynam.

Wednesday's business headlines with Joe Lynam.

Bank of Ireland made a profit of €1.4 billion last year on the back of a strong domestic economy.  Its lending to companies was around €81bn shy of previous targets of €90bn.  But how will it thrive if the current bond market volatility and geopolitical issues continue? Joining Joe this morning was Myles O’Grady the Chief Executive of Bank of Ireland. 

For many of us, Payzone is the app we use to pay for our parking.  Now Payzone is working with Town & City Gift cards to encourage shoppers to keep their money in local towns in smaller or independent shops and not spend it online to benefit big e-Tailers. Jim Deignan the Chief Executive of Payzone explained this new incentive with Joe.

Freenow, which is now owned by the American company Lyft, is the biggest taxi app in Ireland. It is now offering new accident and sickness insurance for its busiest drivers who now have a choice of apps to use including the new Tap A Taxi. Speaking to Joe was Danny O'Gorman the General Manager of Freenow by Lyft. 

Tuesday's business headlines with Newstalk's Business Editor Joe Lynam.

Lusca Vineyard in Lusk, County Dublin, has been growing grapes on Irish soil since 1999. Turning out award-winning reds and sparkling wines from a tiny micro-boutique operation. And after the warmest summer in years, could winemaking become a thing in this otherwise wet island? David Llewellyn from the Lusca Vineyard joined Joe in studio.

The exceptional sunshine this summer has seen a 57% surge in inquiries from companies related to flies and other insects according to the biggest pest control business in Europe:  Rentokil.  Companies and households are being reminded to cover food properly and clean up spills without delay to avoid any infestations. Joining Joe this morning to chat about its business was Colm Moore, Regional Technical Manager, of Rentokil . 

Monday's business news review with Joe Lynam and the Economist Austin Hughes.

The company Re-Box works with some of the biggest food and drinks makers in Ireland including Irish distillers and Glenpatrick water. They gather thousands of cardboard boxes, empty bottles, caps, lids and assorted containers and repurposes and sells them on to other companies.  It’s a walking talking example of how the circular economy can work. Chief Executive of Re-Box Michael Doherty has been chosen as the Green Businessperson of the month, courtesy of Repak. 

The company Re-Box works with some of the biggest food and drinks makers in Ireland including Irish distillers and Glenpatrick water. Gathering thousands of cardboard boxes, empty bottles, caps, lids and assorted containers and repurposing and selling them on to other companies. It’s a walking talking example of how the circular economy can work. Chief Executive of Re-Box Michael Doherty has been chosen as the Green Business Person of the month, courtesy of Repak. 

Friday's business headlines review with Joe Lynam and along with Aidan Donnelly from Davys.

20 years ago, when Lidl arrived on these shores in earnest, many of the products were a little bit Germanic and unknown to Irish shoppers.  Now Lidl is one of the bigger supermarkets in Ireland and 50% of its products on sale are sourced from the island of Ireland. Joining Joe on the show was Robert Ryan the Chief executive of Lidl Ireland.

Manhattan snacks been making snacks as a family business since 1957 in Finglas starting in the family kitchen.  And now almost 7 decades later, the third generation of the family. Joining Joe this morning was Sophie O'Neill from Manhattan snacks who is in the running for the Blas na hEireann prize for Irish made produce. 

Since last month KennyJacobs has been the Executive Chair of the Irish founded company Manna Drones. The company moved to Tulsa in Oklahoma where they got planning permission for 30 sites within 30 days.  Kenny Jacobs, Executive Chair of Manna Drones chatted to Joe this morning.

Joe Lynam takes a look through Thursday's business headlines.

Next year we will be marking the 40th anniversary of the establishment of the International Financial Services Centre.The government launched yesterday its Finance for Ireland strategy paper which sets out its vision to retain what it already has as well as grow the Sector, which is the 4th biggest in Europe.  But can it? Speaking to Joe this morning was Pat Lardner the Chief Executive of Irish Funds which represents the asset management sector here. 

Many investors are increasingly investing in shares all over the world especially America. Often making more money than leaving it sitting in savings accounts though subject to a very high capital gains tax. Emmet Savage, founder of MyWallSt website is organising a special retail investor conference this week with experienced and wealthy investors.

Wednesday's business headlines with Joe Lynam.

Almost 226,000 or 1 in 10 people in the workforce are directly employed in the tourism sector here, whether that's hotels, visitor attractions or transport.   Failte Ireland has launched its new strategy, aimed at persuading visitors to try out the less busy tourist hotspots in the off-peak parts of the year. Joe Lynam was joined by Caroline Bocquel, the chief executive of Failte Ireland. 

This weekend is the annual Aer lingus College football classic. This year, TCU Texas wil face the University of Carolina. The annual event brings almost 40,000 Americans to these shores every year spending tens of millions here while shouting for their teams.  But will the geopolitical tensions caused by America’s war against Iran make a difference this time? Joe Lynam was joined by Padraic O’Kane, the restaurateur who owns the Fire and Sole eateries in Dublin but crucially also runs the annual Aer Lingus College football classic.  

Joe Lynam looks through Tuesday's business headlines.