Irish Times Inside Business

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.

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.