Breakfast Business

A look at today's business stories and websites with Newstalk's Business Editor Joe Lynam.

Ireland’s 4th largest supermarket Lidl will be getting a new boss soon.  That’s because its current chief executive JP Scally has been sent to run the French division.  Mr Scally has had to deal with many crises in his time here, including lockdowns and rampaging inflation as well as food scares. But he’s also been prominent in his company’s support for Irish women in sport.   JP Scally Managing Director of Lidl joined Joe this morning on the show.

Newstalk Business Editor Joe Lynam goes through the main business headlines this morning.

Smurfit, Flutter and CRH are just 3 of the major companies that have delisted from Euronext Dublin stock exchange.  There are genuine worries about how to reverse the decline, so now the boss of the Euronext Group in Paris has announced plans to set up a Springboard market in Dublin to get smaller companies listed in Ireland. Speaking to Joe this morning was Paddy Quinlan, Corporate Finance Partner, Taylor Wessing Ireland who advises on capital markets. 

 Small companies are worried about the additional cost burdens imposed on them since January. Either way small businesses have their wish list ready for October's budget which is expected to be a pre-election starting gun.  It all comes as IMSE tries to attract more female entrepreneurs.  Joining Joe this morning on the show was Neil McDonnell The Chief Executive of ISME.

We take a look at Monday's big business stories with Joe Lynam.

Joe was joined by Dara Calleary, Minister of State for Trade Promotion, Digital, and Company Regulation, to talk about the efforts to steer Irish SMEs towards full digitalisation. Despite the digital sector's prominence in Ireland’s economy, many firms still operate with analogue methods. Dara discussed the new government website, growdigital.GOV.ie, designed to assess and assist companies in their digital transformation journey.

Joe was joined by Newstalk's Tech Correspondent Jess Kelly to discuss the recent news that Google’s parent company, Alphabet, has decided to retain cookies after previously announcing plans to eliminate them. Jess explained what a cookie is, how it follows users around the internet, and what this decision means for both users and advertisers.

Joe Lynam takes a look at the main business stories this morning, with Michael O'Sullivan, co-founder of Unio Wealth Management and author of 'The Levelling'

Joe Lynam takes a look at the main business stories this morning.

Joe was joined by Owen Reidy, Secretary General of the Irish Congress of Trade Unions, to discuss the recent resolution of the Aer Lingus industrial dispute and its implications for industrial relations in Ireland. Despite the inflation shock from 2022, Ireland has enjoyed a prolonged period of growth in a strike-free environment. However, employers are now facing excessive new charges and costs, raising questions about the future of industrial peace.

Joe was joined by Zoë Bradley, Head of Marketing and Corporate Affairs at Toyota, to discuss the current trends and challenges facing electric vehicle (EV) sales. While the shift towards EVs is inevitable in the long run, recent sales have declined due to concerns about recharging infrastructure, especially for long journeys. Despite these challenges, younger drivers remain optimistic about EVs, as shown by a recent Toyota survey. With the ban on traditional engines looming in 11 years, the conversation explored what needs to be done to support the transition to electric vehicles.

Last Friday's global IT meltdown highlighted the failures in digital preparedness. Joe was joined by Paul Delahunty, Chief Information Security Officer with Stryve, to discuss the upcoming Digital Operational Resilience Act from the European Union, which will impose significant fines on companies that are not ready. With just six months to prepare, how can companies ensure they meet the new standards?

Joe was joined by Stephen Barry-Hannon, Project Manager with BioDirect, to discuss the innovative work being done to find sustainable substitutes for everyday plastic and petroleum-based products. The project aims to create valuable eco-friendly products and companies on both sides of the border.

Joe Lynam takes a look at the main business stories this morning.

Joe was joined by John Fareed, Global Chairman with Horwath HTL, to explore the significant role of tourism in the Irish economy, which accounts for 5% and sustains over a quarter of a million jobs, often in remote areas. They discussed the environmental impact of mass tourism and whether it's time to rethink the types of tourism to encourage. John also shared insights from his book, "Invisible to Icon: How to Become a Known Expert in Your Industry."

Joe was joined by Liam McKenna, Partner in Consulting Services at Forvis Mazars, to discuss the impact of GDPR, which has been in effect for six years. Despite its intent to protect citizens' privacy, a survey by Forvis Mazars revealed that many companies are still not compliant, risking huge fines and public embarrassment.

Joe Lynam takes a look at the main business stories this morning.

Last Friday, Ryanair and other major airlines faced disruptions due to an IT meltdown caused by Crowdstrike. The incident occurred during the busy summer season, highlighting the aviation industry's vulnerability. Ryanair's latest quarterly results showed a 46% drop in profits, despite a 10% increase in passenger traffic. The airline also reported significant declines in European air traffic control capacity, causing numerous delays and cancellations. Joe was joined by Neil Sorahan, CFO of Ryanair, to discuss the challenges ahead.

Over the weekend, the Irish Times reported a concerning trend: investors were increasingly turning away from physical shops and malls, spurred by the rise of online shopping. This shift was particularly noticeable in mid-sized towns, where interest in high street retail space was dwindling in favor of large out-of-town shopping centers with ample free parking. Joe was joined by Colin Richardson, Director of Research at CBRE, to discuss the current state of the retail real estate market and what this meant for the future of shopping.