Breakfast Business

A unicorn is an unlisted start up with an actual or strong potential to be worth more than $1billion. We don't have many here in Ireland, 9 according to TracXn including Workhuman, Lets Get Checked and TransferMate. But according to my next guest Irish unicorn owners and owners of smaller start-ups are selling out 12 times faster than they are being created and with that control and IP usually leaving the country. Alan Coleman, from Wolfgang Digital joined Joe Lynam on the show.

Identity theft is a surging problem. Fraudsters only need a few bits of detail about you, much of which is available anyway on your social media feeds. Once they get it they can open up new accounts in your name to prevent this the security software company Entrust works with Mastercard and other card providers using something called its identity verification security platform. But with criminals getting very clever and AI speeding up fraud, are the good guys merely catching up with the baddies?  Minh Nguyen, Vice President of Product Identity Verification at Entrust joined Joe Lynam on the show this morning.

Joe takes a look at Tuesday's business new headlines.

Revolut claims it has at least 3 million customers in Ireland. That’s most adults in this country and the reason is the ease with which customers can set up an account and make payments to friends, family and even total strangers. The Irish banks have long considered creating some sort of easy-pay rival, and now they think they might have it.  The new service, which will start in a few months will be called Zippay and it potentially brings in all the banks and doesn't require a new app or to upload anything. The 3 pillar banks have signed up and Revolut is free to do so too but one wonders whether it would bother.Brian Hayes, Chief Executive of the Banking & Payments Federation Ireland, joined Joe Lynam on the show to discuss the new financial product and the other challenges facing the banks.

Russ Mould from AJ Bell takes a look at the main business news stories along with Joe Lynam.

Once you click the fraudsters have a toe in the door and are on the way to ripping you off.  Amazingly Facebook or Instagram are not legally obliged yet to check the identity of advertisers.  But legislation may be on the way in the EU to force them to do so. Joe discusses this and more with Paul O’Brien from Bank of Ireland Security.

The Small Claims court is often a consumer's best option to get redress from companies. The maximum limit for claims though was set almost 20 years ago at €2000.Taking inflation into consideration that sum is now worth only €1,200 in real terms. The Consumer and Competition Protection commission wants to raise that sum to reflect increased costs.  It also wants more transparency in the Small Claims Court and a cut in fees. All to discuss with Grainne Griffin is head of Communications with the CCPC.

Friday business news review along with Joe Lynam and Kate English from Deloitte. 

Fewer than 5% of homes in Ireland have solar panels on their roofs but that’s up from around 1% 5 years ago.  It’s a reflection of the growing affordability of them, EU subsidies and the soaring cost of energy that has driven demand.  Next year a new concept called ‘dynamic tariffs’ will come into force which could drive even more households to create their own energy supplies. Joe was joined on the show by Darren Murray the Chief Operating Officer of Ecoplex which is one of the largest suppliers in the State.

Joe Lynam brings us Thursday's business news review this morning.

The cost of borrowing for the British government has soared over the past few days with the 30-year bond yield heading for 6% almost twice that of Ireland. The markets are worried that Britain is spending too much money, and they are demanding a higher premium to lend to it. Worryingly, inflation has also remained stubbornly high.  All to discuss with Andrew Sentence who used to sit on the Bank of England's interest rate setting Monetary Policy Committee.

BT sold its wholesale and fibre infrastructure business to the Irish telecoms company Speed Fibre earlier this year.  It was given the green light by the Competition watchdog this week and it means that Speed Fibre, which owns Enet and Magnet plus brands, has a decent sized presence now in the Irish business telecoms market.  But how well placed is Ireland for the AI revolution which is sweeping the US? All to discuss with Peter McCarthy, Chief Executive of Speed Fibre Group. 

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

The latest data from the CSO suggests that we’re jumping between jobs that little bit less than earlier this year. Mark Price used to run one of Britain’s biggest supermarkets Waitrose before he became a Government Minister and a member of the House of Lords.  But what does he make of the world of work surrounded by such geopolitical and economic uncertainty?   All to chat with Mark Price the author of the book ‘Work Happier: How To Be Happy & Successful at Work’. 

The company Kroll is also known for its ability to get information about businesses that they don't necessarily want in the public domain.  Business is growing in Ireland ,so much so that it is buying an insolvency specialist known as Kirby Healy.  Joining Joe on the show this morning wasDeclan Taite is the country Lead for Kroll Ireland. 

AI is set to create a once in a generation shift in how we work.  But will it be worth it or are we looking at a repeat of the Dot Com crash from 25 years ago? ServiceNow is a giant Enterprise software company which provides all manner of consultancy and business support including AI to the largest companies in the world.All to discuss with Mark Cockerill is the country lead for ServiceNow here in Ireland.

Tuesday's business news review along with Joe Lynam.

Michael O’Leary and Dermot Desmond have criticised the plans to finally build an underground metro system.   Dublin Chamber said that in a poll of their members 40% wanted Metrolink to be prioritised.  But at a cost of at least €12bn it will be the most expensive metro in the world.  Will it be worth it? All to discuss with Mary Rose Burke from Dublin Chamber.

At any one moment there is an estimated $1.4trillion worth of cargo in transit somewhere in the world.  Securing, insuring and protecting that is big business . Overhauls founded in Dundalk provides risk management solutions and they've just signed a new deals and got a major cash injection to grow the business of logistics security. Joe spoke to Barry Conlon, CEO of Overhaul 

Russ Mould  from AJ Bell takes a look at the main business news stories along with Joe Lynam.