Breakfast Business

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

The C Suite is where the people who know the most and control the most in any company hang out.  That’s why their opinions matter.  The latest Global Risk Management survey from the consultants AON suggests that cyber-attacks and data theft are the things that keep CEOs and CFOs awake at night the most increasingly though supply chain issues have risen in terms of worries for bosses. Rachael Ingle Chief executive of AON Ireland which carried out this survey in 61 countries joined Joe Lynam on the show...

The number of people employed by companies aided by Enterprise Ireland has reached a record high of 225,000. All but one of the geographical regions in Ireland saw a net positive growth in jobs being created for startups, scale up and companies exporting with EI support.  And yet the review of the year for Enterprise Ireland said it was ‘a very challenging year for businesses.Leo Clancy chief executive of Enterprise Ireland joined Joe Lynam on the show this morning...  

Joe Lynam takes a look at today's business stories and websites.

Ireland’s most famous fintech is of course Stripe from the Collison brothers but could they soon be joined by Swoop.  It was in the Deloitte Fast 50 last month suggesting it’s set to speedy growth.   Speaking to Joe this morning was Its founder is Andrea Reynolds and entrepreneurialism runs in the family as her father was full time businessman and part time Taoiseach Albert Reynolds. 

House prices looked a bit fragile this time last year - certainly when compared to the soaring sales from 2022.  But it appears as if they may have stabilised and even went up in the final quarter of 2023 - according to the latest report from MyHome.ie.  It found that the rising number of households earning more than €100,000 acted as a strong tail wind for the housing market.  In fact there has been a 50% rise in those types of wealthy households since 2021. Speaking to Joe this morning was Conall MacCoille the Chief Economist with Bank of Ireland and the author of the MyHome.ie .

Russ Mould – AJ Bell joined Joe on the show this morning to take a look at the international business news and markets.

NAMA, the national asset management agency, was set up in the middle of one of the biggest economic crises in the history of the state.  Its job was simple but very controversial:  buy distressed assets from failed or failing property developers and nurse those assets back to some sort of value and sell them off. In the process it was supposed to save the then banks from an even worse fate. NAMA will be wound down next year but before that it has returned €4.25 billion to Irish taxpayers and delivered 34,000 housing units.  Joe was joined on the show by the Chief Executive of NAMA Brendan McDonagh.

John Scott finds companies with clever new ideas, nurtures them to a decent size and then sells them or floats them off on the stock exchange.  Innventure is based in Florida and they've already floated 3 technology and science technology companies in joint ventures with Procter & Gamble as well as one in the offing with Nokia.  It’s a risky business though as businesses will fail and lose their founding investors lots of money in the process. John Scott is the founder of InnVenture and John joined Joe on the show this morning.

A look at today's business stories and websites with Aidan Donnelly from Davy.

In the aftermath of Russia’s invasion of Ukraine almost 2 years ago, wholesale and retail energy prices soared to levels not seen in decades.  The biggest retail energy providers didn't waste much time in hiking up prices in 2022.  But when wholesale costs came crashing back down last year, households didn't see much of a change in what they were paying.  Now a new entrant into the retail electricity market Yuno has slashed prices once again and claims to be the lowest in Ireland.   But how can it afford to do that? We speak to Cathal Fay is the Chief Executive of Yuno Energy. 

This time last year 38% of small companies in Ireland who were polled said that mere ‘survival’ was the goal for 2023.  Now that figure is down to 19% according to Peninsula which carried out this survey of SMEs in Australia, New Zealand, Canada, Britain and Ireland.  It also looked at workplace arrangements and found that Irish employees were among the least likely nations to be offered flexible working.  James Potts, Chief executive of Peninsula Ireland which provide HR services to smaller companies joined Joe on the show this morning.

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

We all saw the shocking images of an actual tornado ripping through Leitrim village causing millions in damage.  Some of the companies turned to microfinance to fund their reconstruction and restocking. These are low cost loans of up to €25,000 which are backed by the Irish State.  Microfinance Ireland fills the gaps between what entrepreneurs can afford to lend to their business and what banks will lend which is often very little to start up companies.  Speaking to Joe this morning was Des McCarthy is the Chief executive of Microfinance Ireland. 

So it’s a new year and as ever we’ll face new economic, political, environmental and other assorted challenges.  Income taxes will go down for most people thx to the budget but the cost of hiring and employing staff will go up for companies.  And then there’s the backdrop to all decisions made in or about Ireland:  the economy.  What will the wider world do this year to buffer us around as one of the nations most dependent on Exporting stuff.       All issues for Harry Goddard is the chief executive of Deloitte Ireland who advises some of the largest companies as well as rapidly growing medium sized firms.  

A look at today's business stories with Joe Lynam.

A series of Budget 2024 tax changes intended to help people with their finances and the ongoing cost of living crisis have come into effect. Charlie Weston, Personal Finances Editor with the Independent joined Emmet to talk through the relevant tax changes coming in the new year.

Positive perceptions of financial services careers offer opportunity to attract new talent to the industry. That's according to new research commissioned by Financial Services Ireland and their Director Patricia Callan joined Emmet this morning to discuss their findings.

A look at today's business stories with Emmet Oliver.

As 2023 rolls to a close, January is just around the corner – which means many people will be looking at obtaining their tax refunds. Marian Ryan, Consumer Tax Manager, Taxback joined Emmet Oliver on the show...