Breakfast Business

The government is set to spend a record breaking €102 billion on public projects between now and 2030. That includes massive investment in water, electricity but also public transport including the Metrolink. These contracts are highly complex and often legalistic as they may end up in the courts as we have seen with the national Children’s Hospital. The Junior Minister responsible for that is:  Joining Joe to discuss all was the Minister of State for Public Procurement, Digitalisation and eGovernment Frank Feighan.

Ireland has set itself a target that 70% of our total energy needs should come from renewable sources by 2030. With 4 years to go that figure currently stands at around 36%. That means that fossil fuel usage especially Gas will continue to be the backbone of our national electricity requirement for a few years yet.  In its latest report Gas Networks Ireland, says gas demand fell 1.5% last year while gas demand for transport actually rose by 10% due to compressed natural Gas and biogas demand rising.     All to discuss with Edwina Nyhan the Director of Strategy and Regulation with Gas Networks Ireland. 

Wednesday's business news headlines with Newstalk's Business Editor Joe Lynam.

The Renewable Heating Obligation or RHO is the government’s effort to cut the use of fossil fuels when it comes to heating our homes. By ensuring that some of those fuels are blended with renewable sources such as Hydrotreated Vegetable Oil.  But the group which represents gas, oil and solid fuel suppliers and distributors says the RHO is not ambitious enough.  In fact, they say it’s cheaper for them to pay the fines than adjust the types of fuel they sell to households. All to discuss further with Philip Hannon, CEO of The Alliance of Zero Carbon Heating. 

Ireland is one of the least attractive places for people to invest their money.  The Capital gains tax rate is among the highest at 33%.  There are also very high taxes on investing in ETFs and that's not forgetting the deemed disposal tax which applies even if you haven't sold your investment.  But the mood in Europe is changing and Ireland is changing with it. Now there’s a strong drive since the informal EU council meeting last week to encourage Europeans to invest their money rather than earn next to nothing on savings accounts.   Here to tell us more is Michael Healy the Managing Director with the trading platform IG.

Tuesday's business news headlines along with Newstalk Business Editor Joe Lynam.

Monday's business news review along with Joe Lynam and Russ Mould from AJ Bell.

The world's biggest cardboard box maker Smurfit Westrock says that it believes its profit levels could rise by 40% by the end of the decade.  In its first full set of results since Smurfit Kappa merged with WestRock in 2024, the Ireland headquartered but US listed group said it made an EBITDA profit of $4.9bn last year and trimmed its staffing by 3% amid softer US demand. So what does this year hold for them? All to discuss with Ken Bowles the Chief Financial Officer with Smurfit Westrock.

There are increasingly calls for the European Savings & Investment union to be completed as soon as possible. In order to move Europeans from a savings culture to a more risk taking culture to promote European startups.  There might also be a single regulator for financial services which might threaten the two biggest nations for banking and fund management:  Luxembourg and Ireland.  So today the body which represents financial services here is launching its strategic vision for the sector and protecting what it holds is one of the key themes.  Joining Joe on the show was Patricia Callan the Director of Financial Services Ireland.  

A good bed and mattress is vital for something that accounts for a third of your life, i.e. sleeping.  Many beds are made overseas as are most mattresses. But Respa beds  has been making beds since 1947 in Oldcastle Co Meath.  Respa was even nominated recently for the Best Family Run Business Award in the Guaranteed Irish awards this year. Speaking to Joe all about their business was Pam Stone the Chief Executive of Respa beds. 

There are 180 companies working in the space sector in Ireland these days and that's expanding due to demand for satellite technology in orbit but also for defence technology and even agricultural monitoring. We don't yet have a dedicated space agency here but the industry hopes to even launch rockets into space within the next decadeBarry Kennedy, CEO at IMR  runs Irish Manufacturing Research which is also charged with disbursing money from the European Space agency. 

Joe Lynam is joined on the show by Kate English Deloitte to look at today's business news.

Thursday's business news review along with Newstalk Business Editor Joe Lynam.

AI is rapidly demonstrating that it could destroy seemingly established sectors by doing in seconds for a few euros what up to this might have taken months and enormous fees.  So what should Chief executives and C-suite experts be doing to prepare themselves and make themselves irreplaceable for another few years at least.  On top of that, how do senior executives motivate their staff who will also be worrying about their own futures?   All to discuss with Gavin Megaw Senior Company Director who advises Chief Executives in times of stress. 

 My next guest has devised an AI chatbot which solves problems for tenants on behalf of landlords.  The company is called MARC and is already working with the likes of Sherry Fitzgerald and DNG lettings and hopes to expand into the US by talking to some of the giant property managers over there.  He’s only 22 and quit university to create the company and his name is Aaron Devitt the founder of MARC. 

It’s the 6th largest economy in the EU with its largest port and some of its most important companies including ASML and Unilever.  It’s also the 5th biggest trading partner for Ireland and now as a brand-new centrist coalition government.But what can we expect in economic terms from the new Rob Jetten minority government  in a time of trade anxiety and pressure from the US? All to discuss with Titia Ketelaar Commentator for the Dutch national broadcaster NRC. 

Most people will have booked their Easter holidays by now but some will still be deciding where to go for the summer or Christmas.  There’s plenty of choice and much of the research these days is done online.  But where are we holidaying these days and will the onerous checks to go to America including all your family’s details make selling holidays an issue?  All to discuss with Bladhana Richardson is with TravCorp Holdings which owns Destination2 . Also opening an affordable luxury’ store Destination2 in Ireland for the first time.

Wednesday's business headlines with Newstalk's Business Editor Joe Lynam.

The Spanish bank: BankInter is launching two new savings products this week and unlike all other fixed term savings plans, you can withdraw some of your savings and not lose all of your interest. It comes as the bank announced that it has 7% of all new mortgages being sold in Ireland under the brand-name Avant money. Joining Joe on the show was Ciarán Byrne, head of Everyday Banking at BankInter.

Last week the giant AI provider Anthropic issued a plugin to its Claude Large language Model.  When tested it was capable of carrying out the functions of many large software companies including the likes of Salesforce, Adobe, Workday and ServiceNow.  This led to a major sell-off in their shares and fears of the end of an era for Software as a Service or ‘SaaS’ companies. But is that overdone and how will AI and SaaS coexist? All to discuss with Alan Gleeson Sales and Marketing Consultant with 20 years' experience in SaaS.