Irish Times Inside Business

After almost a year in an out of lockdown, many retailers have seen their premises shuttered for vast majority of the last 52 weeks. A good deal of them have managed to strike rent agreements with their landlords, but some are refusing to make concessions for the pandemic. Ciarán talks to Michael Callaghan, head of commercial finance at Carraig Donn, about how they've been handling the issue with their 42 landlords across the country and the future of the retail sector after coronavirus. They're joined by Mark Paul, The Irish Times business affairs correspondent. Plus: We could find out this week if Ulster Bank is to exit the Irish market, when its UK parent company NatWest publishes full-year results on Friday morning. Joe Brennan has the background on what’s led to this moment and the impact a wind up of the bank would have here. See acast.com/privacy for privacy and opt-out information.

On this week's podcast we look at how Covid-19 has created a series of complications for the many companies based in Ireland with large numbers of employees from other countries. What are the tax implications for foreign workers employed here who, having been sent home from the office, decided to return to their home countries temporarily? Ciaran asks reporter Colm Keena and Daryl Hanberry, tax partner with Deloitte. Plus: Trinity College Dublin economist Ronan Lyons on his recent report for property website Daft that shows residential rents in Dublin have dipped by 3% in the past year while continuing to rise elsewhere. Ronan explains what is behind these trends and what lies ahead for our dysfunctional housing market.This podcast is sponsored by Davy. See acast.com/privacy for privacy and opt-out information.

Galway-based company HidraMed Solutions has won the Irish Times Innovation of the Year award for 2020 for developing a novel dressing system aimed at those suffering from the incurable skin disease, Hidradenitis Suppurativa. In today’s episode, HidraMed founder Suzanne Maloney joins Ciaran Hancock to speak about the company’s origins, products and plans for expansion. But first, Ciaran is joined by Irish Times business journalist Eoin Burke Kennedy and by James Benson, Director of the Irish Home Builders Association to discuss the impact ongoing lockdowns are having on the construction sector. The IHBA has estimated that the supply of new homes could be reduced by 8,000 this year as a result of the current stoppage, so what will this mean for the already squeezed housing market if the lockdown is extended beyond March? See acast.com/privacy for privacy and opt-out information.

After a devastating 2020, it was hoped that the tourism sector could be restarted in the second quarter of 2021. With the extension of Level 5 restrictions to March 5th and new mandatory quarantine travel rules, that now looks unlikely. Just when, and how, will tourism - domestic and overseas - get its post-Covid reboot? Ciaran talks to Dublin travel agent John Galligan, hotelier and president of the Irish Hotels Federation, Elaina Fitzgerald Kane and Irish Times business journalist Mark Paul. See acast.com/privacy for privacy and opt-out information.

Olympic Federation of Ireland president and Swim Ireland CEO Sarah Keane and GAA director of communications Alan Milton join Ciaran Hanacok and Michael O'Keeffe to talk about the challenges and opportunities for sport in Ireland in 2021. But first, Michael has some research on the disruption created by Covid-19. See acast.com/privacy for privacy and opt-out information.

A group of Irish banks is seeking to set up an instantaneous money-transfer mobile app to take on the likes of Revolut and N26. Synch Payments, a joint venture between AIB, Bank of Ireland, Permanent TSB and KBC, is awaiting approval from the Competition and Consumer Protection Commission. In today's podcast, Ciaran is joined by Irish Times markets correspondent Joe Brennan and Hesus Inoma, associate director at Grant Thornton's Financial Services Advisory practice, to discuss the move.Later, Laura Slattery on the growth of television viewing in 2020, driven in part by pandemic lockdown restrictions. See acast.com/privacy for privacy and opt-out information.

In December 2020, An Post delivered a staggering 14 million parcels. This figure comes in at more than double the amount handled by the company in the same period last year. The pandemic and subsequent lockdown have resulted in phenomenal e-commerce growth for the business, with most consumers doing their shopping online.In today’s episode, CEO of An Post David McRedmond sits down with host Ciaran Hancock to discuss the company's overall performance in 2020, the multi-million euro investment plans which include the relocation of An Post’s headquarters from the GPO in Dublin and the impact Brexit is having on parcels coming in from the UK. See acast.com/privacy for privacy and opt-out information.

Ciarán is joined by a panel of guests to look ahead to 2021 and the major challenges facing Irish businesses and the economy. On the panel are Danny McCoy, CEO of business representative group Ibec, Anne Graham, CEO of the National Transport Authority, and Mark Paul, business affairs correspondent with The Irish TimesDanny tells Ciarán what Brexit really means for Ireland in 2021, Anne explains the investment programme planned for public transport and Mark talks about what the State can do to help reboot our ailing aviation and tourism sectors. See acast.com/privacy for privacy and opt-out information.

Taoiseach Micheál Martin says widespread vaccination against Covid-19 is possible by "late autumn". In this podcast he talks to Ciaran Hancock about the vaccine rollout plan, how the Government will extend supports to businesses and employees beyond the current expiration date of those schemes, the likelihood of a Brexit deal and much more. To all our listeners, we wish you a happy and safe Christmas. Thanks to our sponsor Davy for its support throughout 2020. See acast.com/privacy for privacy and opt-out information.

This week Ciarán speaks to Dalton Philips, chief executive of daa, which owns and runs Dublin and Cork airports, as well as the travel retail business Aer Rianta International.In this wide-ranging interview, he tells us that passenger numbers at Dublin Airport are down by 90% and are unlikely to get back to pre-pandemic levels until 2024.The situation at Cork Airport is even worse. Before Covid-19 hit it was the fastest growing airport in the country. Now, on some days, there isn’t a single flight in or out.Philips talks to Ciaran about the drastic measures that daa has had to take in order to prevent the business from going bust, what next year looks like with a vaccine on the horizon and the future of the aviation industry. See acast.com/privacy for privacy and opt-out information.

After six weeks of lockdown many shops and restaurants were finally able to reopen last week. How has it been so far? Ciarán is joined by Elaine Murphy, founder director of The Winding Stair Group of restaurants, and Jean McCabe, owner of the Willow boutique in Ennis Co Clare and deputy chair of Retail Excellence Ireland, to discuss their experiences of resuming trade, how they’ve fared in the pandemic and their hopes for 2021.Later, Cliff Taylor has the latest on the Brexit trade deal negotiations. See acast.com/privacy for privacy and opt-out information.

Arcadia Group, the retail empire belonging to British businessman Philip Green, has gone into administration. The news this week, puts over 13,000 jobs at risk and a question mark over the future of the company's fashion brands including Topshop, Topman and Dorothy Perkins.In today’s episode, Laura Slattery is joined by Dubliner Jo Farrelly, former Marketing Director of TopShop, to speak about the history of the iconic clothing store, the famous takeover by the billionaire in 2002 and her eventual departure from the company in 2007, alongside other senior members of management. Farrelly worked closely with Topshop director Jane Shepherdson to develop the strategy and vision of the brand, turning the once nicknamed ‘Flopshop’ into the coolest store on the high street. Also in today’s episode, Laura speaks to personal finance journalist Fiona Reddan about the record surge in mortgage approvals in October. With a 23% increase year on year, what does this mean for the market and is it really a good time to buy? S

Perhaps sensing we all need a bit of a lift, Irish Times columnist Chris Johns explains why he feels conditions are ripe for robust economic growth in 2021, and outlines things the government should and shouldn't do to help that become a reality.This podcast is sponsored by Davy. See acast.com/privacy for privacy and opt-out information.

With good news on the Covid-19 vaccine front, we look at the companies who have developed vaccines so far, what they mean for the pharma industry and what they mean for the economy. Ciaran talks to Ian Hunter, equity analyst with Canton Fitzgerald and Dominic Coyle of The Irish Times.Plus: Naomi O'Leary on Brexit talks. What are the barriers to a last-minute deal? See acast.com/privacy for privacy and opt-out information.

US president-elect Joe Biden is expected to restore a calmer US trade and foreign policy when he takes office in January, but after four years of Donald Trump in the White House a lot of work needs to be done to repair transatlantic relations.What impact will the Biden administration have on global trade? What will it mean for Ireland? Will it bring an end to Trump’s damaging trade wars with the EU and China? And, how will it influence Brexit?To tease out these issues, Ciarán is joined by Ibec’s director of policy and public affairs, Fergal O’Brien, and global economist and senior fellow at Harvard Kennedy School, Megan Greene.Plus: Davy’s chief investment officer, Donough Kilmurray, on this weeks’ markets rally following Biden’s election win and Pfizer’s announcement that the Covid-19 vaccine it is developing with BioNTech has been more than 90 per cent effective in late stage trials. See acast.com/privacy for privacy and opt-out information.

In today’s episode, Ciaran Hancock is joined by Pat McCann, Chief Executive of Dalata Hotel Group. McCann last spoke to us on the podcast back in April, as the hotel industry came to terms with the lockdown. So how have things progressed in the seven months since, as restrictions continue and an uncertain year of trading lies ahead. With an average occupancy of just 25% across the group, they discuss the impact of the current level 5 restrictions, how the group is dealing with cases of Covid and what impact a Trump or Biden win will have on the tourism industry. See acast.com/privacy for privacy and opt-out information.

Irish consumer sentiment has fallen again amid concerns of how the latest Covid-19 restrictions will impact income and employment prospects over the next 12 months. How will this play out in the run up to Christmas and how are advertisers responding to the fragile mood? Austin Hughes, chief economist of KBC Bank and Charley Stoney, CEO of the Institute of Advertising Practitioners in Ireland (IAPI) join Laura Slattery to discuss. Also on today’s episode, Proinsias O’Mahony of The Irish Times, takes a look at how the US election may impact the stock market. See acast.com/privacy for privacy and opt-out information.

From midnight tonight the entire country will move to Level 5 Covid-19 restrictions, resulting in the closure of many businesses, including all non-essential retail. In today’s episode, Cliff Taylor speaks to Arnold Dillon, Director of Retail Ireland about the impact on trading in the run up to Christmas and how the sector will survive further lockdowns. We also hear from Michael Cronin, the owner of Cronin’s menswear in Cork city centre, who will be closing his shutters this evening until the 1st of December. But first, economist and Irish Times columnist Chris Johns joins Cliff to discuss the impact of the restrictions on the wider economy. See acast.com/privacy for privacy and opt-out information.

Budget 2021 is here. A budget like no other, drawn up on the assumptions of a no-deal Brexit and another year without a Covid-19 vaccine. It was delivered today by Minister for Finance Paschal Donohue and Minister for Public Expenditure and Reform Michael McGrath. The package, worth a staggering €17.75 billion euro, is the biggest in the history of the state. In this episode, Irish Times political reporter Jennifer Bray outlines the key points of today’s budget, while Cliff Taylor and Liam Diamond, Tax Partner at PwC Ireland, join Ciaran to discuss the green measures contained within and how this level of spending will affect the state in years to come. Finally, Eoghan O’Mara Walsh, CEO of ITIC and Patricia Callan, Director of Drinks Ireland take a look at what Budget 2021 has delivered for the tourism and hospitality industries. See acast.com/privacy for privacy and opt-out information.

Even before the impact of Covid-19, low interest rates and uncertain markets were making it difficult for investors to find a good place to put their cash. So what impact has months of Covid-19 had on the markets, and what are the best options now for those looking to invest or close to retirement? Ciarán talks to Donough Kilmurray, chief investment officer with Davy. But first he talks to entrepreneur Greg Gormley, owner of Little Ass burrito restaurant in Rathmines, Dublin. Greg's plans to expand were interrupted by the pandemic but now he's about to open a second premises in Temple Bar. He shares his insights on running a restaurant in unusual circumstances. See acast.com/privacy for privacy and opt-out information.