Breakfast Business

Goldman Sachs has put out a paper which said that the vast majority of Trump’s new tariffs are being paid by US importers with only a fraction being paid by Exporters into the US.  It also predicted that inflation was set to rise notably this Autumn in the US thanks to these tariffs. So what is the mood music out there? All to discuss with Allie Renison Partner with SEC Newgate and also an adviser to the Institute of Directors. 

Tuesday's business news headlines with Joe Lynam.

Russ Mould from AJ Bell brings us through Monday's business headlined with Joe Lynam.

How would you like a middle rate of income tax at 30%?  Or capital gains tax to be slashed from 33 to 20%? Or perhaps a new fund to support companies affected by Donald Trump’s new 15% tariff regime?  Well, all of these things are on the wish list of the British Irish Chamber of Commerce ahead of this autumn’s budget. All to discuss with Aidan Finnegan from the BICC. 

EXL is a large data and AI company originally from America.  It advises many banks and healthcare providers on how to use the terabytes of data that they collect every month.  But increasingly it’s joining the crowd by moving into the AI space and in furtherance of that has chosen Dublin for a new AI innovation and research hub.  It’ll be announced by the Tánaiste later today and in attendance will be the Head of International for EXL in Ireland, Rowan McGrath who joined Joe this morning on the show.

The Mace Group have built the London Eye, the Shard and the Tottenham Hotspur stadium.  Closer to home it helped build Terminal 2 here in Ireland and is now working with Uisce Eireann to bring our water infrastructure up to the 21st century.  It already has 100 people working on the Metrolink to Swords. But what’s it like bidding for big projects here which face horrendous delays and challenges?  All to discuss with Frank Randles is the Country Manager with the Mace Group.

Roughly 70% of all brides-to-be get some sort of hair extensions on their big day. Emma King is the Founder of Cascata and bridal stylist, and she imports real human hair for this booming industry. Emma joined Joe this morning on the show to chat about her business.  

Friday's business news headlines along with Joe Lynam and Kate English Chief Economist with Deloitte.

Coffee is one of those inelastic goods that increases in price without seeing a commensurate fall off in demand.  Many of us need the stuff to kick start the day.  But the price of it then doubled on the commodities markets between Oct last year and March this year amid issues with supply from major producers such as Brazil.  Velo Coffee roasts its own blends in County Cork and now supplies most of the major supermarkets. Joining Joe on the show was Rob Horgan, is the founder and boss of Velo Coffee.

The EU US trade and tariff framework, which we can't call a deal because there’s nothing in writing, looks increasingly in jeopardy.  The 15% tariffs are way too high according to many business lobby groups and could severely damage American markets for European companies.  So what could and should European companies do? All to discuss with Ben Butters the Director General of EuroChambers.

Thursday's business news headlines along with Joe Lynam.

The Planning & Development Act was supposed to speed up the delivery of big infrastructure projects by limiting the number of objections permissible.  Thus far there is no evidence of the Act doing what it says on the tin.  So why do we have an objection culture in this country and why even bother throwing good money after bad if everything will be blocked in the courts? All to discuss with Alice Whittaker is a partner with the law firm Philip Lee who has worked on a myriad of notable projects such as the Dublin Incinerator and the forthcoming Dublin Array wind energy project. 

Last month Stena ferries said that it was stopping its services from Rosslare in Wexford to France impacting holidaymakers and businesses alike.  Now Brittany Ferries says that it will step in and beef up its existing sailings from Rosslare to Cherbourg.  Brexit was the main reason why container traffic has increased 6 fold from the South East as EU companies could bypass customs checks and delays in Britain by sailing straight to France, Belgium or even Spain from Ireland.  Christophe Mathieu is the CEO of Brittany Ferries 

Wednesday's business news headlines along with Joe Lynam.

We take a look at Tuesday's business news headline.

Tom Hayes spend five years in jail for rigging the key benchmark interest rate among banks known as LIBOR.  He used to work for UBS and Citi banks and vigorously protested his innocence. Two weeks ago the UK Supreme Court agreed with him and quashed the conviction. But how did it come to pass that an individual and not a wealthy bank would be sent to prison for doing his then job and what happens now to those other traders who pleaded guilty in similar circumstances in order to minimise their punishment? Tom Hayes joined Joe this morning to tell his story.

All the business news with Aidan Donnelly from Davys.

Visitor numbers from overseas to Ireland in June were down 2% to 654,000. That’s much better than many had feared after earlier CSO data suggested a major fall-off in tourist numbers. But that figure is still around half the number of people who came to this island before Covid in 2019. Why? Is it the astonishingly high cost of holidaying and eating out in Ireland or is something else at play? Alice Mansergh chief executive of Tourism Ireland, joined Joe Lynam on the show to discuss.

The AI act from the European Union came into force earlier this year but its legal obligations are being slowly rolled out. Tomorrow, an important new phases come into force which will oblige AI companies and users of artificial intelligence to comply with a slew of new rules. Doubtless, this will irritate quite a few people in the tech industry and even in the White House. So what are these new obligations? Maureen Daly an IP Partner with the lawyers Pinsent Masons joined Joe Lynam on the show to discuss.

Victoria Scholar from Interactive Investor joined Joe Lynam to discuss the latest on the markets.