Irish Times Inside Business

With inflation dropping to its lowest levels in two years across the euro zone, 10 straight interest rate hikes from the European Central Bank seem to be having the desired effect. But attention now turns to stagnating growth across the bloc, with GDP (gross domestic product) falling by 0.1 per cent between July and September. And with Ireland having the largest quarterly decline in GDP (-1.8 per cent) in the third quarter, the State’s highly volatile GDP numbers were cited as one of the factors in the overall decline. As Cliff Taylor explains, Ireland “had an extraordinary run, we’re returning to earth”.And Ciarán Hancock is also joined on this episode by Irish Times business and technology journalist, Ciara O’Brien, to discuss three companies facing different challenges - X, formerly known as Twitter, has been making headlines as it is now reportedly worth less than half of what Elon Musk paid for the company a year ago. Elsewhere, Web Summit have appointed former chief executive of the Wikimedia

In a decision that has important implications for workers in the gig economy here, a Supreme Court ruling last week found that delivery drivers for a pizza restaurant should be treated as employees and not contractors.Ciarán Hancock is joined by Irish Times Work Correspondent Emmet Malone and employment solicitor Anne O’Connell to tease out the potential ramifications for businesses and workers alike.And after Web Summit’s CEO Paddy Cosgrave decision to step down from his role following his comments on the Israel-Hamas war, what could that mean for Portugal’s business-friendly image and Lisbon’s tourism economy? Lisbon-based journalist Jair Rattner gives his thoughts.Produced by John Casey, with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

With Ireland confirmed as co-hosts for Euro 2028 along with the UK, could the tournament be a catalyst for positive change when it comes to the standards of training and facilities within the domestic game here? And while tournament football under the floodlights of the Aviva is a tantalising prospect, will Ireland even qualify?Ciarán Hancock is joined by Irish Times Soccer Correspondent Gavin Cummiskey and CEO of Teneo Ireland Michael O’Keefe to tease out the pros and cons of hosting an international tournament.And with the perception that tourism was not a priority for Budget 2024, Elaina Fitzgerald Kane, Chairperson of Irish Tourism Industry Confederation and Senior Business Report Barry O’Halloran explain why industry chiefs have sought a meeting with Minister for Tourism Catherine Martin to discuss a sector that supports “13 per cent of all Irish livelihoods, more than in agriculture and construction combined”. Produced by John Casey, with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for mo

Ciaran Hancock is joined by guests to pore over the main elements of Budget 2024. The €14 billion package includes notable measures such as the threshold for higher income tax rate rising to €42,000, a €12 weekly increase to welfare and pension payments, and mortgage interest rate tax relief.On the panel: Cliff Taylor, Managing Editor, The Irish TimesLoretta O’Sullivan, Chief Economist and Partner, EY IrelandNeil McDonnell, Chief Executive, ISMEJennifer Bray, Political Correspondent, The Irish Times Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

A new report from the Irish Fiscal Advisory Council points to the cost of climate change to the Government rising to billions by the end of this decade. On this week’s Inside Business, host Cliff Taylor is joined by IFAC’s chief economist Dr. Eddie Casey to go through the key points contained in 'What Climate Change Means for Ireland's Public Finances' and the calculations for what the government may have to spend to attempt to achieve our emissions reduction targets.Also on this week’s episode, we hear the factors driving a marked increase in insolvencies among Irish firms this year, and whether the trend is likely to continue next year. Partner at PwC Ireland, Ken Tyrrell, has the details.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

The EU’s trade commissioner is unhappy with the vague nature of two new Chinese security laws, laws which he feels are putting European investment there at risk. Speaking to host Ciarán Hancock, Irish Times China correspondent Denis Staunton told Inside Business how these concerns were raised at the recent EU-China High-level Economic and Trade Dialogue, along with other concerns around Beijing’s neutral stance on the war in Ukraine and the huge inroads Chinese electric vehicles are making in the European market.And the latest data from the Banking and Payments Federation Ireland points to a rise in banking scams, with fraudsters stealing almost €85 million in Ireland last year. Irish Times Home & Design Editor, specialising in writing about personal finance, Fiona Reddan, has some cautionary tales and prudent advice when it comes to protecting yourself against banking scams.Produced by John Casey, with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Joining Ciaran Hancock this week is Irish Times Economics Correspondent Eoin Burke-Kennedy who has the latest figures from the CSO, which point to rising house prices outside Dublin, but house prices in the capital continuing to fall. Has supply finally caught up with demand?And the significant slowdown in commercial construction here would usually be viewed as bad news, not so according to John McCartney, Director, Head of Research at BNP Paribas Real Estate, he explains that this is in fact a welcome development.The panel also give their thoughts on warnings from IFAC and the Central Bank ahead of Budget 2024.Produced by John Casey, with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

After attending the glitzy launch of Apple’s new iPhone 15 range in California, Irish Times business and technology journalist Ciara O’Brien joins host Ciaran Hancock to pore over the incremental changes in the company’s new handsets. They are lighter, stronger and have a better camera, but with the iPhone 15 Pro starting at €1,239, are they worth the money?Plus, we go to journalist Hugo McCafferty in Italy to hear how a blue crab invasion is wreaking havoc on the seafood industry there.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Budget 2024 is only a matter of weeks away, with the government flagging a package of measures amounting to €6.4 billion. So, what can we expect from this budget, and will we see any surprises with a general election on the horizon? Fiona Reddan of the Irish Times and Head of Tax at EY, Kevin McLoughlin, give Ciaran Hancock their predictions when it comes to areas such as housing, social welfare, tax reform and one-off cost-of-living measures.  And Cliff Taylor supplies the economic backdrop to the budget following the release this week of exchequer returns for August and IFAC’s thoughts on government spending. Hosted on Acast. See acast.com/privacy for more information.

Selecting the correct health insurance policy can seem like a minefield at the best of times, but with premiums going up across the board this year, it feels especially difficult. Speaking to Cliff Taylor on this week’s Inside Business, Dermot Goode of Totalhealthcover.ie explains the reasons behind the increases and points out that consumers are ‘going to have to shop around’ if they want to stay within their budget.And why are so many sectors struggling with staff recruitment and retention? Director of CIPD Ireland, Mary Connaughton has some insights as she gives us the latest data from CIPD's ‘HR Practices in Ireland survey 2023’. Hosted on Acast. See acast.com/privacy for more information.

Farming In Ireland can often feel like a gamble, with external factors like Brexit, the pandemic and the war in Ukraine often impacting a producer’s bottom line. Speaking to Ciaran Hancock on this week’s Inside Business, Rob Coleman, a tillage farmer in North Cork, and Shane McAuliffe, a pig farmer based in Kerry, point out that it’s not just the weather forecast that influences their decisions with input costs proving extremely expensive over the last 18 months.Another challenge that Rob and Shane are doing their utmost to meet, is that of climate change. They explain how policy must match individual efforts if the targets for carbon emissions reductions are to be achieved. Hosted on Acast. See acast.com/privacy for more information.

With the temporary 9% VAT rate for hospitality set to return to 13.5% at the end of August, what impact could that have on a sector still finding its feet post-pandemic?Ciaran Hancock gets some insights on the multitude of challenges facing the sector from hotelier Lorraine Sweeney and chef & restaurateur JP McMahon – challenges that already include rising food prices, huge electricity bills, and a staffing crisis across the sector.Plus, Irish Times Political Correspondent Jennifer Bray on the likelihood of government extending the 9% VAT rate, and what opposition parties have to say about it. Hosted on Acast. See acast.com/privacy for more information.

With cement giant CRH shifting its primary listing to the New York stock exchange and noises that gambling group Flutter could soon follow suit, the Irish stock exchange is facing significant challenges.Will there be moves to make the domestic stock exchange easier to join? Perhaps a vibrant junior exchange could provide a solution?Ciaran Hancock gets the thoughts of Current Affairs Editor with the Irish Times, Arthur Beesley and CEO of Cantor Fitzgerald Ireland, Ronan Reid.And Irish Times Senior Business Reporter, Barry O'Halloran takes us through his story on how Ticketmaster Ireland has been offering GAA county boards cash incentives to sign up or renew contracts.  Hosted on Acast. See acast.com/privacy for more information.

This week Accenture announced they are to cut a further 890 staff from their Irish workforce. The news comes just months after their last round of redundancies, which saw 400 staff let go from the company in March. To discuss the job losses, the reaction from staff and the wider issues facing the tech sector, Ciarán Hancock is joined by Ian McArdle, Deputy Secretary General of the Communications Workers’ Union (CWU) and by Phil Codd, Managing Director of Expleo in Ireland. Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode of Inside Business, Director General of the International Air Transport Association, Willie Walsh, and Founder and managing director of Tour America and Cruise Holidays, Mary McKenna, join Ciarán Hancock to discuss where the aviation sector finds itself post-Covid.Has air travel demand fully recovered? Are fares going to continue to rise? And will sustainable aviation fuel be the key to net zero emissions across the sector by 2050? Hosted on Acast. See acast.com/privacy for more information.

Will Government’s plan for a 20c tax on disposable coffee cups have the desired effect or could it end up hurting businesses? On this week’s episode of Inside Business, co-owner of Olive’s Room restaurant and co-founder of Vytal Ireland, Michelle Moloughney, gives Cliff Taylor her thoughts on the divisive levy. And Irish Times business and technology journalist Ciara O’Brien on why she has been writing about Irish tech firm Intercom. Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode of Inside Business with Ciarán Hancock, Chief Economist at Davy, Conall MacCoille, explains why labour shortages and capacity pressures are putting the brakes on growth in some sectors here. And Irish Times Economics Correspondent Eoin Burke-Kennedy runs through the headline details from both the exchequer receipts and the Summer Economic Statement.  Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode of Inside Business with Ciarán Hancock, IDA chief executive Michael Lohan tells us how housing, energy supply and a ready pipeline of new talent are need to keep Foreign Direct Investment flowing into the country. Michael and EY partner Feargal de Freine discuss a new report from EY covering 44 European countries on where Ireland sits in the competition for foreign direct investment. Hosted on Acast. See acast.com/privacy for more information.

With the European Central Bank raising rates to a 22-year high, should Sinn Féin’s proposal for an introduction of mortgage interest relief be entertained by Housing Minister Darragh O’Brien?Brendan Burgess, founder of the consumer forum, askaboutmoney.com, thinks it is a poorly thought-out plan. As he tells host Ciarán Hancock, despite the increases in mortgage rates, most mortgage holders are not in distress and can cope with the higher interest. And with corporation tax receipts likely to exceed €26 billion this year, €2 billion more than the Department of Finance is currently forecasting, should that equate to a bumper giveaway budget come October, or will a lid be put on spending?Eoin Burke-Kennedy, Economics Correspondent with the Irish Times, explains that perhaps following the Norwegian model of sovereign wealth is the way to go given our growing surplus. Hosted on Acast. See acast.com/privacy for more information.

With the latest CSO figures pointing to data centres in the Republic using as much electricity as urban households last year despite an effective moratorium on new connections to the grid in the Greater Dublin Area, does the proliferation of data centres here in recent times represent a real threat to our carbon emissions goals?Ciaran Hancock is joined by Irish Times Business Reporter Ian Curran to talks us through what those latest CSO figures mean, while Director of Cloud Infrastructure Ireland, Michael McCarthy and Energy Researcher at UCC, Paul Deane, give the pros and cons of so many data centres setting up here. Hosted on Acast. See acast.com/privacy for more information.