Irish Times Inside Business

Businesses are worried they’ll be forced to frontload high energy payments to finance temporary electricity generation this winter. Large energy users will also be the first firms forced to cut their energy demand if the national grid comes under unsustainable pressure. Cliff Taylor speaks to Ibec’s chief economist, Ger Brady, about the implications for the sector and the economy as a whole, in the event of rolling blackouts. The Irish Times’ Barry O’Halloran reports on the diverging views of the Commission for the Regulation of Utilities and operator Eirgrid, at yesterday’s Oireachtas Committee on Environment and Climate Action.   We also look at how the CRU proposes to deal with shortages over the coming winter. Plus, we examine the European Commission’s mooted redesign of the electricity wholesale market, after the EC President announced the commission is working on an “emergency intervention and structural reform.”  The Irish Times’ Fiona Reddan also looks at w

Investors are worried about energy prices, with those worries reflected in a series of bad sessions for European stocks this week.To understand what's happening, Ciaran is joined by Aidan Donnelly, Associate Director at Davy Global Fund Management.And Eoin Burke-Kennedy on new analysis from the UK that suggests staggering inflation of over 18% could be possible there. Could it happen here?Plus, Laura Slattery on moves by big streaming services like Netflix and Disney+ to run advertising on its services, with more expensive payment tiers for those who want to keep an ad-free experience. Will it rub consumers up the wrong way? Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Eoin Burke Kennedy from the Irish Times and DCU Professor John Doyle join Ciaran Hancock to discuss the potential economic impact of Irish reunification.This episode was originally published in May 2021. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Last week, Glenveagh Properties, one of the State’s largest homebuilders, faced criticism over a design plan they put forward to Minister Darragh O’Brien, in a bid to solve Ireland’s housing crisis. The plan suggested an overhaul of existing planning regulations which would replace apartments with more own door homes. A move which CEO Stephen Garvey describes as “a win-win for society across the board”. Here he speaks to Ciarán Hancock about the suggestions in the report, how it could keep building costs down and where he thinks house prices will go next. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

In 2020 Maxol celebrated its 100th year in business, making it the oldest family run oil company in Ireland. As they prepare for their next 100 years in operation, the company have undertaken a major revamp of their forecourt network and convenience shops. In October Ciaran Hancock took a trip out to their flagship outlet in Bray to speak with Maxol’s Chief Executive Brian Donaldson and to Director and family shareholder Noel McMullan. They spoke about the impact of the pandemic on fuel sales, the future of cars and travel and how their business model can align itself with climate change targets set by the government. See acast.com/privacy for privacy and opt-out information.

With the flow of Russian gas to Europe in ever more doubt this winter, the EU is grappling with how to ensure adequate energy supplies across its member states. Ireland has secured an exemption from a new EU directive that calls for a 15% reduction in use. But that doesn't mean Ireland can avoid any pain. Barry O'Halloran and Naomi O'Leary join Ciarán Hancock to discuss. Barry also reports on the latest Ryanair news including Q1 results and baggage handling problems.  See acast.com/privacy for privacy and opt-out information.

The European Central Bank is expected to raise interest rates this week in an effort to dampen inflation. What will the move mean for consumers, mortgage-holders and the economy? Cliff Taylor explains. But first: This week AIB announced it would no longer provide cash services in many more of its branches across the country. The move has angered some customers, advocates for rural services and bank employees. Ciarán talks to markets correspondent Joe Brennan and Financial Services Union general secretary  John O'Connell about the move. See acast.com/privacy for privacy and opt-out information.

Martin Shahahan has been at the helm of IDA Ireland since 2014, but will step down from his role as CEO in early 2023. Today he tells Cliff Taylor about his decision to leave after eight years in the job, the progress made in that time and the challenges facing Ireland in attracting high levels of foreign direct investment. See acast.com/privacy for privacy and opt-out information.

UCC economics lecturer Seamus Coffey and Tom McDonnell Co-Director of the Nevin Economic Research Institute (NERI) join Cliff Taylor to discuss the Summer Economic Statement which was published this week and the €6.7 billion budget package poised to tackle the spiralling cost-of-living crisis.  See acast.com/privacy for privacy and opt-out information.

Two housing reports delivered two different takes on the Irish property market in the past week. MyHome.ie, which is owned by The Irish Times, suggests that house price growth is slowing in the face of cost-of-living concerns and rising interest rates. However Daft.ie says they’re accelerating, fast approaching the Celtic Tiger peak, amid chronically low levels of supply. So, what’s really going on?In this episode, Irish Times Economics Correspondent Eoin Burke-Kennedy sheds some light on the differences in the two reports, while Marian Finnegan of Sherry Fitzgerald has the estate agents view from the ground.The European Central Bank is expecting to hike its interest rates from next month, with further increases anticipated as the year rolls on. Cliff Taylor explains what effect those hikes might have on house buying over the next 12 months. See acast.com/privacy for privacy and opt-out information.

Last week markets worldwide wobbled as investors fretted about a recession and aggressive monetary tightening by central banks.In addition, cryptocurrencies have slumped this year leaving many people nursing major losses. So, is this just a blip, or is there something more fundamental going on? In this episode of The Irish Times Inside Business podcast, Ciarán Hancock is joined by Cliff Taylor of The Irish Times, Aidan Donnelly, head of equities at Irish stockbroker Davy, and Irish Times Washington Correspondent Martin Wall, to make sense of it all and discuss what it might mean for the Irish economy. See acast.com/privacy for privacy and opt-out information.

This week the UK introduced a Bill to unilaterally scrap the Northern Ireland protocol, the post-Brexit set of rules which govern Northern Irish trade. The EU has now launched infringement proceedings against the UK for not complying with significant parts of the deal, which it describes as a clear breach of international law. Ciarán is joined by Public Affairs Editor Simon Carswell, chief executive of Manufacturing Northern Ireland Stephen Kelly and Robert Sweeney, a policy analyst at TASC, to discuss this standoff over the protocol. See acast.com/privacy for privacy and opt-out information.

The Government plans to introduce a 20c tax on all single-use takeaway coffee cups in a bid to make Ireland the first country in the world to eliminate their use.The so-called ‘latte levy’ forms part of the Circular Economy Bill, which aims to introduce world-leading moves to reduce waste and influence behaviour.Nearly half a million takeaway cups are sent to landfill or incineration every day. So why do some claim that the proposal won’t achieve its aims?In today’s episode of the Inside Business podcast, we hear from Dairine Keogh, owner of the Clement and Pekoe coffee shops in Dublin, about her views on the tax.Presenter Laura Slattery also speaks to managing director of Retail Excellence, Duncan Graham, and Sadhbh O’Neill, an assistant professor at Dublin City University and lecturer in climate policy and environmental politics. See acast.com/privacy for privacy and opt-out information.

Tourism and air travel have rebounded strongly in 2022 after two years of pandemic restrictions. But both are also facing major issues around pricing, staff and availability of product.Hotelier Lorraine Sweeney and Irish Times Business Affairs Correspondent Mark Paul outline some of the problems faced by the hospitality sector. Ciarán is also joined by aviation expert, Joe Gill of Goodbody, to discuss how airlines across Europe are faring and whether the queuing at Dublin Airport will have a lasting impact on Ireland’s reputation as a tourism destination. See acast.com/privacy for privacy and opt-out information.

The European Commission says there's a limited risk of another housing bubble developing in Ireland due to stricter rules that have reduced risk in the financial system. The positive finding comes despite the fact that house prices are expected to continue to rise this year. Cliff Taylor gives his views on the matter. Also in today’s episode: after a gap of more than two years, the World Economic Forum has gathered again in Davos, Switzerland. Joe Brennan is there for The Irish Times and tells us what has been happening. See acast.com/privacy for privacy and opt-out information.

Irish Times current affairs editor Arthur Beesley has the latest on the Siteserv deal, following a seven-year inquiry into its sale to a company owned by Denis O’Brien.Plus: Markets correspondent Joe Brennan reports on the Government’s efforts to address the thorny issue of banker’s pay, as it seeks the views of the public on continuing pay restrictions across Irish banks which were bailed out during the financial crisis, as part of a review of the future of the sector. See acast.com/privacy for privacy and opt-out information.

With rampant inflation, rising interest rates and the continuing war in Ukraine, warnings about the potential for a global economic downturn are getting louder by the day. Ciarán talks to Irish Times writer Cliff Taylor and Washington Correspondent Martin Wall. See acast.com/privacy for privacy and opt-out information.

With his new company Admatic, chief executive Stuart Fogarty is seeking to disrupt the traditional advertising market in Ireland. It allows clients to buy advertising directly online with the big media companies, cutting out the middleman. Fogarty explains the concept to Ciarán and the traction it has gained in its first five months. He also sounds a warning on the Irish economy, based on the spending levels he’s seeing coming through at Admatic, and they look back at Fogarty’s own storied career in advertising, which involved running two of the biggest ad businesses in Ireland and a brush with the law more than a decade ago. See acast.com/privacy for privacy and opt-out information.

Dalata Hotel Group founder and former chief executive Pat McCann retired last year, after more than half a century in the hotel business. Last week Mr McCann was presented with an award for Distinguished Leadership at the Irish Times Business Awards. Today, he talks to Ciarán about his life and career, as he settles into a very active retirement. See acast.com/privacy for privacy and opt-out information.

Interpath Advisory, the UK-based corporate restructuring and insolvency firm, is planning to build up a practice in Ireland with 120 staff within the next three to four years, after poaching six partners from KPMG and Deloitte in Ireland. Its chief executive Blair Nimmo talks to Ciarán about Interpath’s ambitious plans for its Irish arm. Plus: Sixty years after it first launched, Golden Discs is opening a brand-new concept store POP! at their flagship Dundrum Town Centre retail unit, to coincide with Record Store Day 2022. Chief executive Stephen Fitzgerald, whose father Jack was one of the founders of Golden Discs in 1962, talks to Ciarán about POP!, vinyl’s renaissance and the future of one of Ireland’s best-known retail brands. See acast.com/privacy for privacy and opt-out information.