Irish Times Inside Business

Sinn Féin TD David Cullinane explains how he and his colleagues on the Public Accounts Committee were not equipped to deal with all of the allegations of wrongdoing in relation to the circumstances surrounding the sale of NAMA's Project Eagle loan book and why there needs to be a commission of investigation to take a deeper look at it.He was joined in studio by our political correspondent Harry McGee to go through the details of the report and explain why tax-payers should be concerned by the findings.Also in this episode, our business team go through some of the big stories of the week, covering everything from Ardagh’s IPO to the ongoing and multi-faceted row over the Mercantile pub group. See acast.com/privacy for privacy and opt-out information.

A "cause of concern" is how Ed Sibley of the Central Bank has described its research on diversity in Ireland's financial institutions.The bank's Director of Credit Institutions Supervision, told this week's Inside Business Podcast that the study is the first of its kind and its results reflect a poor picture of diversity in the sector.This research is a step towards tackling the problems that lead to poor levels of diversity in financial institutions, he said, and will send out the signal that the regulator takes it seriously.Also on the podcast, Ulster Bank is one of just two Irish banks now offering Apple Pay to its customers.Director of Customer Experience and Products at the bank, Maeve McMahon, joined Ciara O'Brien from the business team to discuss the service and said she has no concerns about its security.In terms of becoming a cashless society, McMahon said Ireland isn't there yet but the launch of Apple Pay, coupled with Android Pay a few months ago, does bring us closer. See acast.com/privacy for pr

President Trump heralded a “new chapter in American greatness” in his address to Congress last night. A pretty picture, says senior fellow at the Peterson Institute for International Economics, Caroline Freund, but not the likely outcome.The former World Bank economist predicted that the next four years are going to look very like Reagan’s presidency while the US economy experiences a short boom followed by a crash.Columnist Chris Johns said Trump’s speech was light on detail about the administration’s much mooted plans to reform tax and the president appeared to demonstrate a lack of understanding about what exactly VAT is. Both Freund and Johns agreed that the US corporate tax system is bad for domestic business and President Trump is right to have it in his cross-hairs, though that would spell bad news for Ireland.Also on the podcast, Laura Slattery and Mark Paul of the business team were in studio to discuss the rumours of exploratory talks on a possible take-over of The Examiner by Independent News Media

It has been all change in the Irish agri-food sector these past weeks. Poor results at bakery giant Aryzta led to the departure of CEO Owen Killian and his team, while this week saw Kerry and Glanbia posting expectation-beating profits and revealing news about their future plans. To analyse the news we talk to Joe Gill of Goodbody Stockbrokers and our own Joe Brennan who has been covering the stories. In part two we talk to Pamela Newenham, formerly of this parish but now departing for San Francisco to represent Irish social-tech start-up GirlCrew, which she co-founded. See acast.com/privacy for privacy and opt-out information.

KBC Bank had a decision to make: stay in Ireland and grow its mainly mortgage-based business here, or fold up the tent and go back to Belgium. Following an internal review, it was announced last week that KBC would remain. CEO of KBC Ireland Wim Verbraeken is here to tell us why they're staying, what it means for Irish banking and how KBC will face the challenges ahead.In the second half of the show, Brid O'Connell, CEO of Guaranteed Irish explains that organisation's strategy for becoming relevant to Irish consumers again. See acast.com/privacy for privacy and opt-out information.

President Trump’s plan to overhaul the US tax system and how that might affect Ireland, is the focus of this week's Inside Business podcast.On the panel, tax partner with Grant Thornton, Peter Vale, who said there is still a lot of uncertainty about what will actually happen, and while there has been no sign of US companies deciding to move out of Ireland yet, some investments are certainly being put on hold.Irish Times columnist Chris Johns spoke about the need for some radical thinking in the face of Trump’s proposed reforms and newly installed Irish Times Washington Correspondent Suzanne Lynch was on the line to give the view from the US. See acast.com/privacy for privacy and opt-out information.

At the height of the property boom in 2005, Jurys Doyle sold Jurys Ballsbridge to property developer Sean Dunne. “I was sitting in Ulster Bank in Dame Street when we opened the bids,” recalls Pat McCann, then Jurys Doyle CEO and now head of Dalata, Ireland's biggest hotel group. What popped out of the envelopes that day changed everything for McCann, who tells Ciaran Hancock about his career in the hotel trade on this week's podcast. See acast.com/privacy for privacy and opt-out information.

On this week's podcast: Ian Hunter of Investec and our markets correspondent Joe Brennan analyse the problems facing Swiss-Irish baking behemoth Aryzta, and its CEO Owen Killian, as its share price tumbled yesterday following the latest in a series of profit warnings. Where has it all gone wrong? Michael Noonan and EU taxation commissioner Pierre Moscovici were singing from different hymn sheets at The Irish Times Corporate Tax summit earlier this week. Cliff Taylor was there and he tells us what went on. Plus: For every €1 invested in advertising, companies win an average return of over €5 - not too shabby. This is according to a new report co-authored by Alan Cox of advertising agency Core Media, who joins Ciarán and media reporter Laura Slattery to explain their findings, discuss why this bonanza is not being seized by more Irish businesses - and why loyalty programmes are a waste of time. See acast.com/privacy for privacy and opt-out information.

Britain will not strike a deal with the EU on the basis of Theresa May’s Brexit speech yesterday, according IBEC CEO Danny McCoy on today's podcast. He says the British Prime Minister knows it’s going to be a no deal and she offered up a “fairly appalling vista for Irish business” in her speech.“I think she knows it’s a no deal,” he says.McCoy was joined by economist Jim Power, who said the Irish government badly needs to devote more serious attention to Brexit, and Cliff Taylor, who said their G7 status and strategic military importance will play in their favour.Later in the podcast Irish Times Industry Correspondent Martin Wall and economist Sean Barrett discuss the problems and potential solutions for insolvency-threatened Bus Eireann. See acast.com/privacy for privacy and opt-out information.

T.K. Whitaker, who died this week aged 100, made a huge impact on the thing we discuss, one way or another, on this podcast every week - the health of Ireland's commercial and economic life. To look back on his life and career we talked to John Fitzgerald, formerly of the ERSI which Whitaker founded, Anne Chambers, his biographer, and columnist Fintan O'Toole. See acast.com/privacy for privacy and opt-out information.

Regulation is one way tackle so-called vulture funds, says Sinn Féin finance spokesperson Pearse Doherty, but it is not clear whether there is a will at government level to introduce it.The Donegal TD told this week’s Inside Business podcast that he believes the government still wants to use these funds to “clean up the carcasses” of the commercial property sector.Deputy Doherty was speaking after last night’s RTÉ documentary, The Great Irish Sell Off, which reported that giant US investment funds paid miniscule amounts of tax despite making enormous profits on their Irish investments.Irish Times markets correspondent Joe Brennan has reported widely on these funds, and spoke to the podcast about the main players in the market, the assets and loans that they have acquired and the structures they have used to pay very little tax.One of those investment funds, Cerberus, hit the headlines over its controversial purchase of NAMA’s Project Eagle portfolio. Barry O’Halloran took us through the details of that and he

In 2016 the number of Irish jobs in IDA-supported companies exceeded 200,000, more even than during the Celtic Tiger period. The figures prove how critically important foreign direct investment has become to the Irish economy today, and how seriously we should take threats to our attractiveness as a location for foreign investors. The threats are there, from potential Brexit shocks to the Trump administration's policies on foreign investment, external pressure to change our tax regime and domestic issues like the housing shortage that undermine our competitiveness. In the next two years IDA chief executive Martin Shanahan wants to add another 80,000 jobs to the 200,000 already brought in by the state agency. He talks to Ciarán Hancock about the agency's achievements, the upsides and downsides of Brexit and Trump and how the IDA will navigate the choppy waters ahead. See acast.com/privacy for privacy and opt-out information.

Increasing the price of a stamp to between 90c and €1 still represents “fantastic value” for the customer, according to An Post CEO, David McRedmond.On the Inside Business podcast today, he joined Sherry Fitzgerald Chief Economist, Marian Finnegan, and Teeling Whiskey co-founder, Stephen Teeling, to look ahead to 2017 and discuss the potential impacts of Brexit, Trump and political uncertainty across Europe, on their own sectors and the wider economy.An Post is undergoing a strategic review and has “quite a way to go” in figuring out its ten year plan, said McRedmond, but it will raise the price of a standard stamp from 72c next year to help ensure security of cash-flow.A re-configuration of the rural post office network is also on the cards, but McRedmond said An Post remains committed to maintaining it and diversifying services.The panel spoke about the export environment post-Brexit, how the Apple ruling might affect government tax policies and the future of the property market.Sherry Fitzgerald’s Marian F

It was an extraordinary and at times confounding year in business and the economy, even as the Irish position remained broadly positive. On Inside Business today we look at the biggest stories of the year in the company of Irish Times business team stalwarts Cliff Taylor, Joe Brennan, Laura Slattery, Mark Paul, and Barry O'Halloran.Cliff Taylor discusses how the political events here and abroad impacted the economy in 2016, from the minority Government to Brexit and Trump's election. Joe Brennan talks us through the biggest company deals and market moves of 2016. Mark Paul recalls the twists and turns in the business and litigation of Denis O'Brien. Laura Slattery picks TV3's new status as a competitor for RTÉ as the major media story of the year.And Barry O'Halloran recaps the Project Eagle story and major moves in aviation that will have consequences for consumers and business in 2017 and beyond.And finally, Inside Business visited the National Treasury Management Agency last week for their annual Christmas

If you've shopped online and you're Irish you may be familiar with the feeling that you are being ripped off by international retailers. Geo-blocking (when you can't access a site aimed at consumers in another country) and excessive price differences are the most frequent complaints, and we Irish make more such complaints than most others, according to a report today from the European Consumer Centre. We talk to ECC representative Martina Nee about the report's findings, and to Mark Paul and Laura Slattery about personal experiences of what Mark calls the "Paddy Levy". Have you been caught out by the levy? Email us your stories: businesspodcast@irishtimes.comAlso on the podcast, we look at Minister for Housing Simon Coveney's big announcement that rent increases will be capped at 4% per year in Dublin and Cork. It seems no-one is entirely happy with the plan - but is it better than nothing? John McCartney of Savills Auctioneers, Mick Byrne of the Dublin Tenants Association and our property editor Madeline Lyo

The imposing acronym CCCTB could spell serious trouble for the Irish economy according to the Economic and Social Research Institute. Bottom line: the proposed European Common Consolidated Corporate Tax Base could wipe 1.5 per cent off economic output. On today's Inside Business podcast, Mark Paul goes into the details of the ERSI's report. Economist Jim Power says it is time we accepted the inevitability of more equitable corporate tax rates and faced up to the challenges this will pose our unique situation, while Suzanne Lynch in Brussels says CCCTB is not yet cause for panic.Mark, Jim and Suzanne also discuss the plight of Italian banks which some fear could plunge the EU into a new banking crisis in 2017, and take another look at the goings-on in Independent News and Media's boardroom after Monday's EGM bun-fight between board and shareholders over pensions. In part two: $69 transatlantic flights? At that price point you might be forgiven for ignoring the fine details, and Norwegian Air's plan to launch t

The Irish Times broke the story about a "schism" within the Independent News & Media board that led its CEO Robert Pitt to consider his position. For more on the story this week's host Cliff Taylor talks to business affairs correspondent Mark Paul and media reporter Laura Slattery.Then Ciara O'Brien pops in with an array of gadgets you may be tempted to splash out on, either for yourself or a loved one this Christmas. Ciara shows Cliff how to use a Virtual Reality headset and the best way to silence a blabbering Furby. And Joe Brennan has the latest market news, including Opec's moves towards reducing oil production and fears over Italy's constitutional referendum. What knock-on effects will a defeat for Mario Renzi have on Italy's banks? See acast.com/privacy for privacy and opt-out information.

The Central Bank announced today that it is easing the mortgage lending rules. What will this mean for first time buyers and will supply meet increasing demand for new units? To discuss the permutations of this latest decision, Ciarán Hancock is joined in studio by Housing Studies lecturer in DIT Lorcan Sirr and Markets Correspondent Joe Brennan.Black Friday promises deep discounts for bargain hunters in the run up to Christmas. While a a relatively new phenomenon in this country, Black Friday has had American consumers queuing outside stores for decades. Does it actually represent good value for shoppers and why are some bricks and mortar retailers less than enthused by it's growing popularity here? Our Consumer Affairs Correspondent Conor Pope, CTO with eShopWorld Colm O'Donaill and founder of Wolfgang Digital Alan Coleman offer their insight. See acast.com/privacy for privacy and opt-out information.

"Transformational" is how Greencore CEO Patrick Coveney described the company's proposed $747.5 million acquisition of Illinois-based Peacock Foods. Patrick joins Ciarán Hancock to talk about the deal. Why is this deal the right one for Greencore now, and how will they avoid a repeat of their ill-fated purchase of Imperial Holly in the 1990s? In part two, Irish Times business team Cliff Taylor, Laura Slattery and Joe Brennan pop in with all the business news that's fit to talk about, including post-Trump market mayhem, moves by Aer Lingus and Easyjet, and Virgin Media's purchase of UTV. See acast.com/privacy for privacy and opt-out information.

The election of Donald Trump has taken everyone by surprise, not least the Republican Party who seemingly have no transitional arrangement in place. How will President Trump impact free trade? Will we see an exodus of US companies from our shores? Will President Trump retreat from some of the rhetoric that defined his election campaign? To answer these questions and more, Ciarán Hancock is joined in studio by business consultant and former Fine Gael TD Lucinda Creighton, Equity Analyst at Investec Ronan Dunphy and Business Editor Cliff Taylor. See acast.com/privacy for privacy and opt-out information.