Irish Times Inside Business

Eoin Burke-Kennedy and economist Alan McQuaid take a look at the news that Ireland's corporation tax take came in a massive €1.45 billion ahead of estimates for the first 11 months of the year.Have you ever gone to cash in a gift voucher only to find it has expired? That may be a thing of the past. Dermot Jewell of the Consumer Association of Ireland explains the changes to rules surrounding vouchers after a 25 year campaign by his organisation. But first Peter Hamilton has a roundup of all the latest business news. See acast.com/privacy for privacy and opt-out information.

Economist and journalist Colm McCarthy has forecasted that air fares will rise by 30% should the European Commission increase their carbon tax on jet kerosene. He joins Ciaran Hancock and business reporter Barry O’Halloran in studio to discuss how this increase, along with the removal of the VAT exemption, will send the price of air travel soaring.But first, Peter Hamilton has a roundup of the week’s big business stories including which Irish city has been named the most efficient place to start a business. See acast.com/privacy for privacy and opt-out information.

Despite plenty of objection and many questions surrounding the escalating costs, the National Broadband Plan was signed in this week by the Cabinet. While the roll-out of high speed broadband across Ireland is a welcome initiative, Communications Spokesperson for Sinn Féin David Cullinane maintains it is a flawed and compromised process. Business Journalist Eoin Burke-Kennedy also joins host Ciarán Hancock to discuss the controversial plan.Later, Laura Slattery is in studio to discuss the recent decision by the national broadcaster to move their prime sports coverage from RTE 2 to RTE 1. What does this mean for the future of the sister station? See acast.com/privacy for privacy and opt-out information.

Despite pressure from house hunters seeking to escape the rent trap and from politicians looking for solutions to the housing crisis, the Central Bank will not be tempted to ease mortgage lending restrictions, according to both its deputy governors in statements this week. Where does that leave this troubled market? Analysis from Eoin Burke-Kennedy and Joe Brennan.What comes next for RTÉ? The state broadcaster revealed its plans to cut hundreds of jobs last week (on foot of a leak to The Irish Times). Industry correspondent Martin Wall on the pitfalls facing the organisation as it navigates choppy waters with employees, trade unions and the Government. But first Charlie Taylor has a roundup of some of the best business news stories of the week including a clampdown on dual pricing, a big payday for an Irish fintech success and a meltdown for Revenue's ROS system. See acast.com/privacy for privacy and opt-out information.

Mark Paul reports from Lisbon where he's repping The Irish Times at this year's Web Summit. Find out who is speaking and what is happening at the biggest annual tech gathering. Atlantic Therapeutics won the top prize at last night's Innovation Awards, an event run by The Irish Times. The Galway-based company won for its technology that helps to treat bladder disorders, a problem that affects one in three women at some point. Ciarán was there and he interviewed Danny Forde, the firm's global product manager. But first Michael McAleer talks us through the other winners and their innovations. See acast.com/privacy for privacy and opt-out information.

Where will we get our electricity from in a decarbonised future? Eirgrid has produced a report on the future sources of Ireland's energy, setting out three possible scenarios. Environment correspondent Kevin O'Sullivan reports. Barry O'Halloran on the decision by regulators to reduce passenger charges at Dublin Airport, a move opposed by the airport on the grounds it needs the funds for development of the critical facility. How was the decision reached and is the airport now at a disadvantage?But first Laura Slattery has a roundup of the week's big business stories. See acast.com/privacy for privacy and opt-out information.

Dominic Coyle, Conor Pope and Laura Slattery join Cliff Taylor on today's podcast to talk about:- two days, two big announcements of lost jobs. Bad luck or something more? - why eir customers in need of help from the telecoms provider are often left unhappy. - WeWork's travails hit plans for Dublin, new charges for EV owners and another gloomy Brexit forecast from Moodys. See acast.com/privacy for privacy and opt-out information.

Work continues in Brussels on a a Brexit deal, and its still uncertain if one will be reached, or indeed if one is whether it can then be passed by UK legislators. But what would it mean for the Irish economy if a deal such as we are hearing about is passed? Ciaran asks Cliff Taylor. Then Barry O'Halloran reports on two stories about how we are trying to reduce carbon emissions: a proposed offshore wind farm that would be situated 10 kilometres off the south Dublin coast and generate enough energy to power 600,000 homes, and the move by British Airways parent company IAG to offset some of its carbon emissions. A sign of things to come? But first, Laura Slattery has a roundup of the latest business news, including bad news for Facebook's cryptocurrency and for health food supplement manufacturers, and some interesting retail trends. See acast.com/privacy for privacy and opt-out information.

Minister for Finance Paschal Donohoe has delivered his Budget 2020 speech, with an overall package of €2.9 billion. Announcing measures worth €1.2 billion to tackle no-deal Brexit, Minister Donohoe said Budget 2020 is without precedent and “a budget that has been developed in the shadow of Brexit”. Will the measures announced today be enough to soften the landing?In today’s podcast, Ciaran is joined first by Irish Times political reporter Jennifer Bray to go through the main points of the budget. Later, Liam Diamond, Tax Partner at PwC Ireland, and Cliff Taylor and Fiona Reddan of the Irish Times, get into the weeds on items including the no-deal Brexit package, the much vaunted €6 carbon tax hike and measures related to housing and health. See acast.com/privacy for privacy and opt-out information.

In today's podcast Cliff Taylor previews next week's budget and Peter Hamilton takes a trip to Trifol, a Portlaoise-based company which has developed a lucrative process for turning landfill plastic into wax.Plus: Laura Slattery has a roundup of some of the week's other business including Paddy Power's mega-merger with Canadian rival Stars and Tesco's little-known new CEO, Irishman Ken Murphy. See acast.com/privacy for privacy and opt-out information.

Last weekend saw a successful opening of the 2019 Rugby World Cup in Japan. Today on Inside Business we take a look at the tournament through a business lens. Ciaran Hancock and Mick O'Keeffe of Teneo PSG are joined by Sean Kavanagh, Global Director at Pentland Brands (whose suite of brands includes Canterbury), Padraig Power, Commercial and Marketing director at the IRFU and Ed Dixon, a journalist with Sportspro See acast.com/privacy for privacy and opt-out information.

The OECD’s efforts to frame a global tax for multi-nationals that will satisfy the demands of the 134 countries involved in the long-running process was discussed at the PwC-Irish Times Tax Summit earlier this week. Cliff Taylor and Eoin Burke-Kennedy join Ciarán to dissect comments made at the summit by Minister for Finance Paschal Donohoe and Pascal Saint-Amans, director at the Centre for Tax Policy and Administration at the OECD. What will the changes mean for Ireland and what impact will they have on our bulging corporation tax receipts?Plus: Laura Slattery has the week’s other business news including Ireland’s Apple tax appeal, calls to tighten regulations on used-car imports and WeWork’s abandoned IPO. See acast.com/privacy for privacy and opt-out information.

It emerged last weekend that RTÉ sought a €55 million annual funding boost from the State, which it never got. Staff at the broadcaster have been warned that the organisation cannot continue as it is without a significant increase in state funding. That's unlikely to materialise in the upcoming budget. So, what now? Does the solution lie in a doubling of the licence fee, cutting staff, or selling its Dublin 4 campus and starting from scratch?In today’s podcast, Larry Bass of ShinAwiL Productions predicts a grim future in which the state broadcaster will be without funding to make Irish productions and could be caught up in industrial disputes. We’re also joined by Irish Times business affairs correspondent Mark Paul, who this week wrote that RTÉ’s funding woes are of its own making.Plus: Peter Hamilton has a roundup of some of the other business stories of the week, including the much mourned closure of beloved Dublin venue The Bernard Shaw. See acast.com/privacy for privacy and opt-out information.

The new governor of the Irish Central Bank, Gabriel Makhlouf, settled into the role this week, telling staff that he will be in listening mode over the coming months. Joe Brennan outlines what he’ll have found waiting in his in-tray on his first day, including a key ECB governing council meeting on September 12th that will consider whether to ease rates or launch a new bond-buying programme – or both – to shore up the euro zone economy.Later: Mark Paul has the story of Irish-backed company, Process & Industrial Development, which has won a $9.6 billion (€8.7 billion) UK court judgment against the Nigerian government. P&ID, an offshore company linked to Dublin-based Industrial Consultants (International), won the huge arbitration award after a 2010 gas deal to build an oil refinery in Calabar fell through.Plus: Peter Hamilton has some of the other big stories this week including exchequer returns, Dalata results and falling wine sales. See acast.com/privacy for privacy and opt-out information.

Two sets of figures were released by the CSO this week. One shows a return to net emigration in Ireland: more people departed the country than arrived in the year to April. Another set, the latest Labour Force Survey, reveals 2.3 million people are now employed in the state, the highest ever figure. What lies behind the figures? Dominic Coyle asks Eoin Burke Kennedy. And Fiona Reddan has a story of a too-good-to-be-true investment opportunity that turned out to be just that. First, though, it's Peter Hamilton with a roundup of the latest business news including another dip in sterling, another Press Up investment and punishment for corporates implicated in the US opioid crisis. See acast.com/privacy for privacy and opt-out information.

Earlier this week Irish Times columnist Chris Johns wrote about why a hard Brexit on October 31st will be the beginning, rather than the end, of a chaotic phase in Britain’s history and that the country is facing a future as a failed state. He talks to Ciarán about why that is and why he believes that Boris Johnson’s decision to back Dominic Cummings as his senior adviser will come back to haunt him.They’re joined by Ibec’s director of policy and public affairs Fergal O’Brien to discuss why it is so difficult for Irish business to prepare for a no-deal outcome, how the Irish economy will cope and what measures Minister for Finance Paschal Donohoe needs to take in October’s budget to soften the landing in 2020.Plus: Peter Hamilton takes us through some of the week’s other business news including Ryanair’s scuppered pilot strike, Facebook’s new privacy tool and Hershey’s stake in Irish snack brand Fulfil. See acast.com/privacy for privacy and opt-out information.

Vodafone got out of the traps first this week announcing the beginning of its roll-out of 5G internet. So, how much will it cost? And, what will it mean for Irish businesses and consumers? Ciarán talks to Professor Ronan Farrell of Maynooth University, which launched a 5G test centre earlier this year, and Irish Times business reporter Charlie Taylor.Plus: Laura Slattery has a roundup of some of the other business stories of the week including the departure of Norwegian Air from the Irish market, the purchase of Green Reit and a chill in property prices. See acast.com/privacy for privacy and opt-out information.

Harland & Wolff is officially in the hands of administrators. The legendary Belfast shipyard, once the world's largest, is now a symbol of the decline of British manufacturing and heavy industry. That decline is a subject that our guest today, Eamonn Fingleton, has written and reported on for decades. We're also joined by our reporter Francess McDonnell who has the latest on negotiations to keep the shipyard and its employees going.But first Laura Slattery has a roundup of the latest business news including a hefty fine for a large Irish firm, Boohoo buying Karen Millen and the disruptor snapping up a rare commodity: talented sports journalists. See acast.com/privacy for privacy and opt-out information.

Looming international tax changes will be a big setback for Ireland's relationship with multinationals. But how great is the danger? And, how can we adapt to these changes, while continuing to attract foreign direct investment and develop other parts of the economy?To discuss how this might play out, Cliff Taylor is joined by chief economist at Ibec Gerard Brady and Martina Lawless, associate research professor at the ESRI and member of the Irish Fiscal Advisory Council.Plus: Laura Slattery on some of the other big stories this week, including steep Sterling loses and the continuing controversy surrounding Ireland's new Central Bank governor Gabriel Makhlouf. See acast.com/privacy for privacy and opt-out information.

Earlier this week minister of state at the Department of Finance Michael D'Arcy told The Financial Times that banking pay restrictions should remain in place - in spite of pressure from the banking industry to loosen them. AIB, Bank of Ireland and Permanent TSB are currently subject to a €500,000 salary cap, while a punitive 89% tax rate applies to any bonuses paid. Should the restrictions stay or go? Ciarán talks to Brian Hayes, former Fine Gael TD and MEP who is now CEO of the Banking and Payments Federation Ireland, and then by Pearse Doherty, Sinn Fein TD and finance spokesperson, for two different views on the issue. Plus, Peter Hamilton has all the latest business news including more pay disputes at Ryanair, how the markets are reaction to Boris Johnson's election as Tory party leader and struggling state agencies. See acast.com/privacy for privacy and opt-out information.