Irish Times Inside Business

Fifteen years on from the 2008 financial crash, a new accountability regime is due to come into force in Ireland for senior executives in the financial services industry here. In March, the Central Bank launched a three-month consultation period on key aspects of the Individual Accountability Framework for bankers. Derville Rowland is Deputy Governor at the Central Bank of Ireland with responsibility in this area, and she joined Ciaran Hancock to explain how this new regime will work and what will be expected of financial firms and their executives. Hosted on Acast. See acast.com/privacy for more information.

In the United States, the legislative limit on the amount of national debt that can be incurred by the US Treasury has reached its absolute limit. As it stands, the US government is limited by law to borrowing no more than $31.4 trillion, this debt ceiling is routinely reached, but once that happens Congress can simply vote to raise the ceiling and allow the US to borrow more money, and thus continue to pay the nation’s debts.This time around, Republicans have put pressure on President Joe Biden by refusing to raise the debt limit unless they see some tangible federal spending cuts imposed as well as assurances on future spending. A preliminary deal has been struck, named the Fiscal Responsibility Act, it would suspend the debt ceiling until 2025. It must be voted through the House of Representatives later today before it can make its way to the Democrat-controlled Senate later this week.Will the deal satisfy both sides? And what would happen if the US defaulted on the debts it owes? Host Ciarán Hancock is jo

Tom Keogh delves into the 200-year history of his family's farm business in north county Dublin, the pivots those before him were forced to make, and how ingenious branding and marketing helped Keogh's stand out in a crowded market.We also hear how a conversation with a U.S. Food and Drug Administration official inspired Tom to start making crisps, the challenge of taking on Tayto, and how the pandemic was actually good for business.Plus, with Keogh's crisps boasting some eighteen flavours, it was for Jedward that Tom created his most daring flavour combination....it involved sushi. Hosted on Acast. See acast.com/privacy for more information.

Cork entrepreneur Norman Crowley has signed a deal with a leading global mining company to retrofit some 8,500 diesel mining trucks into electric vehicles over the next three years, with much of this work to take place at sites in the Republic, he tells Ciaran Hancock on today's podcast. Norman's company Cool Planet Group will carry out some of the work at a new factory it has just completed at Powerscourt, Co Wicklow. He returns to the podcast to talk about how the businesses that make up his Cool Planet group, including software development, electric vehicle conversion and educational service provision, survived the pandemic and are now poised for rapid growth as the race to decarbonise the economy accelerates. Hosted on Acast. See acast.com/privacy for more information.

Barry Connolly scooped the award for Business Person of the Year in February at the fifth annual Irish Times Business Awards. He joined Ciaran at the time for a wide-ranging chat about his successful career to date.Barry is co-founder of nutrition bar ‘Fulfil’, which was sold in April of last year for a reported €160 million to confectionary giant Ferrero.After giving his reaction to receiving this most prestigious of awards, he explained how he developed a range of protein bars that took the Irish market by storm. Hosted on Acast. See acast.com/privacy for more information.

The fact that winning the League of Ireland Premier Division is less lucrative than a UEFA Europa Conference League qualifying round tie speaks volumes about the financial state of football here. Could government intervention have a positive impact? Perhaps a redistribution of the tax income from betting is a good place to start.And with facilities from a bygone era still a feature throughout the country, are too many clubs attempting to play professional football on the island?On today’s Inside Business podcast, Business Editor Ciaran Hancock gets some insight from Chief Executive of Platinum One Group, Fintan Drury and Longford Town manager Stephen Henderson. Hosted on Acast. See acast.com/privacy for more information.

With some 4,000 homes in its portfolio, and few or no vacant units at this time, Ires Reit should be raking it in. So, why are they planning to sell off the "crown jewels" of their assets in an attempt to balance the books?The company's annual general meeting on May 4th looks to be more interesting than usual, with Canadian investor Vision Capital calling for the board of directors to be replaced. Ires Reit’s Canadian founder Capreit has indicated it will join forces with Vision Capital, who are agitating for the company to put itself up for sale.Does the situation at Ires Reit signal the beginning of the end of institutional investors in Ireland?On today’s Inside Business podcast, Business Editor Ciaran Hancock gets some insight from Markets Correspondent Joe Brennan and Head of Real Estate - Investment Banking at Goodbody, Colm Lauder. Hosted on Acast. See acast.com/privacy for more information.

With KBC and Ulster Bank having exited the Irish market, what is out there for Irish customers when it comes to loans and savings?Could Fintech companies like Revolut and N26, along with more established companies such as An Post and our Credit Unions, prove to be viable alternatives for consumers looking to change?Plus, are house-hunters likely to see asking prices dropping across the board over the next twelve months? Ciaran Hancock gets some insight from Markets Correspondent Joe Brennan, Consumer Affairs Correspondent Conor Pope and Daragh Cassidy from Bonkers.ie. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Cork-based developer Michael O’Flynn shares his views on the new Residential Zoned Land Tax (RZLT), which will come into effect in 2024, replacing the existing vacant site levy. The new tax aims to increase housing supply by encouraging developers to build on land owned, rather than hoarding it. While O’Flynn explains that he’s in favour of the concept, he doesn’t agree with the way it is being implemented and applied by local authorities. O’Flynn who owns 24 properties in Cork city and county, received an exemption for 12 of those sites, but must appeal the remaining dozen with An Bord Pleanála, or be faced with an annual bill of more than €2 million.Later on, Ciaran is joined by Environment editor Kevin O’Sullivan and President of Engineers Ireland (EI) John Power to discuss their latest electrical energy review and Ireland's future energy needs. Hosted on Acast. See acast.com/privacy for more information.

Despite a slowdown in the tech sector, Ireland’s corporation tax receipts are as healthy as ever. The latest exchequer returns show the Government collected €3.2 billion in the first quarter of 2023, €1.3 billion higher than in the same period last year. Eoin Burke-Kennedy and Cliff Taylor talk to Ciaran Hancock about the government's plan for the takings. Later, Marian Finnegan, Managing Director of Sherry Fitzgerald joins Ciaran and Eoin to talk about property prices and the outlook for the housing market. According to MyHome.ie, house prices have fallen by a modest 0.3% in the first quarter of 2023, however Sherry Fitzgerald maintains prices are still on the up. They also discuss possible routes out of the housing crisis and the lifting of eviction ban. Hosted on Acast. See acast.com/privacy for more information.

The Economic and Social Research Institute (ESRI) has published a new report on Ireland's economic circumstances. Conor O'Toole, Associate Research Professor with the ESRI, joins Eoin Burke-Kennedy and Ciaran to talk about the report. They discuss inflation, growth, the impact of inadequate housing supply and the problem of relying so heavily on a few major industrial sectors. Plus: London correspondent Mark Paul reports on how the UK's economic situation is evolving under Prime Minister Rishi Sunak and Chancellor Jeremy Hunt. Hosted on Acast. See acast.com/privacy for more information.

With Amazon announcing a further 9,000 jobs job cuts this week, and Workhuman’s plans to reduce its global workforce by 10%, it could be many weeks or even months before we learn how many Irish roles are affected. Business and technology journalist, Ciara O’Brien, analyses the latest retrenchment in the tech sector. Business reporter, Ian Curran, examines the potential risk of contagion following the bailout of Credit Suisse and the collapse of Silvergate, Silicon Valley Bank and Signature Bank in the US. Markets have reacted well to the Swiss deal but the wiping out of AT1 bonds, a key source of funding for Irish banks, could have implications here. Presented by Laura Slattery Hosted on Acast. See acast.com/privacy for more information.

The collapse of Silicon Valley Bank (SVB) last week has spooked financial markets, with global banking stocks dropping significantly as a result. With a new CEO at the helm, SVB is declaring ‘business as usual’, but the ripple effects of the bank’s failure can still be felt. To discuss the reasons behind the bank run and the wider implications on markets and the tech sector, Ciaran Hancock is joined by Irish Times columnist Chris Horn and Markets Correspondent Joe Brennan.  Hosted on Acast. See acast.com/privacy for more information.

This week's podcast is focussed on stock market and banking news. Host Ciaran Hancock is joined by Aidan Donnelly, Head of Equities at Davy and Joe Brennan, Markets Correspondent with The Irish Times. It is reporting season, so news is emerging about the performance and intentions of Irish plcs. And some are indicating plans to shift their main stock market listing to the United States. Why is this happening and what does it mean for Irish operations? Irish banks are posting healthy figures, and Bank of Ireland has a plan to bypass the ban on bonuses. Will others follow suit? What can we expect from the next European Central Bank meeting - will interest rates rise again? Inside Business is produced in association with EY Ireland. Hosted on Acast. See acast.com/privacy for more information.

The deal is done between the UK and the EU to solve problems with the Northern Ireland protocol, and should it become operational, that deal means Northern Ireland will remain within the EU single market, with the added benefit of access to the UK market. So what will that mean for its economy - and what will it mean for the economy in the Republic? Ciaran Hancock and Cliff Taylor are joined by Mark O'Connell, founder of Belfast-based consultancy OCO Global and Stephen Kelly, CEO of Manufacturing Northern Ireland to talk about the deal. Plus: Businessman Denis O’Brien is on track to cede control of Digicel under a plan agreed with a group of bond creditors to swap $1.8 billion (€1.7 billion) of the heavily-indebted group’s borrowings for an equity stake in the business. Joe Brennan has the details. Hosted on Acast. See acast.com/privacy for more information.

The government's latest package of cost of living measures includes extra cash payments to social welfare recipients and parents - but no further contributions to our energy bill payments. Does the package go far enough? And by extending - again - a more favourable VAT rate for the hospitality sector, the Government is foregoing tax revenues of €300 million. Why does the return of the rate keep getting pushed back? Ciarán talks to political reporter Jack Horgan-Jones and columnist Cliff Taylor. Plus: We're by now sadly familiar with finance scams using texts, emails and bogus websites to defraud people. The latest method takes advantage of the growing use of digital banking services like Revolut. Consumer affairs correspondent Conor Pope explains what to watch out for. Hosted on Acast. See acast.com/privacy for more information.

Chupi Sweetman is the Irish jewellery designer on a mission to disrupt the diamond industry. The founder and CEO of her eponymous brand has just secured €3.75m in investment to fuel her global ambitions. She speaks about industry trends, removing Russian diamonds from her supply chain and how blockchain will help secure the provenance of her heirloom jewellery. Also in this episode, Barry O'Halloran reports on the yawning gap between what multinationals are paying for energy compared to domestic Irish businesses. Hosted on Acast. See acast.com/privacy for more information.

Barry Connolly, the man who brought Red Bull and Kopparberg cider to Ireland has just been named the Irish Times Business Person of the Year. After graduating from UCD with a degree in business, the Dubliner went on to work in advertising and sales at the Sunday Tribune, before moving into the world of entrepreneurship, where he worked alongside a number of successful brands. In 2016, he launched Fulfil, a range of protein bars which took the Irish market by storm. Last April, he sold the business for a reported €160 million to family-owned confectionery giant Ferrero. In this conversation with Ciaran Hancock, he looks back over his career trajectory, explains why Fulfil has become a hit with consumers and shares his top tips for budding entrepreneurs. Hosted on Acast. See acast.com/privacy for more information.

Brendan Burgess joins the podcast to explain his critique of Central Bank policy on mortgage interest rates. It comes after Central Bank governor Gabriel Makhlouf told an Oireachtas committee that Irish banks should increase interest rates to reflect increases applied by the European Central Bank. Plus: Cliff Taylor and Eoin Burke-Kennedy look at the latest economic trends. Hosted on Acast. See acast.com/privacy for more information.

An increase in office stock, the switch to hybrid working, as well as job losses in the tech sector have contributed to a slowdown in the Dublin commercial real estate market, according to industry expert, John Moran. The CEO of JLL joins Ciaran Hancock to discuss the 13% office vacancy rate driven partly by the increase in 'grey space.' The term is used to describe what is available for sub-leasing or assignment, more of which is being seen in the capital as Big Tech companies pull back to 2019 levels of employment. Meanwhile, Director of Technology Ireland, Una Fitzpatrick gives the industry view on the recent job losses. The Ibec branch wants to counter the narrative that the sector is in free-fall, noting these are the first redundancies of this level since 2010.With any subscription you'll get unlimited access to the very best in unique quality journalism from The Irish Times. Subscribe today. Hosted on Acast. See acast.com/privacy for more information.