Breakfast Business

Monday's big business stories with Newstalk's Business Editor Joe Lynam.

Venezuela had the world's largest proven crude oil reserves with approximately 17% of global reserves.  And yet its citizens are among the poorest in the world.  Up to 7 million have fled the country over the past decade causing political instability in all its neighbours - including the US.Now the South American nation faces another crisis as it appears to have rigged the recent Presidential elections in favour of the incumbent Nicolas Maduro.     For more on this Emmet spoke to Jon Farmer the Editor-In-Chief at LatinNews and Editor of our Latin American Weekly Report.

Lawyers who defend people who cannot afford their own barrister in criminal cases are paid a fixed amount by the State.  That amount was cut during the economic crisis of 2009 and that fee has remained there 15 years later.  That’s why there have been a number of stoppages by barristers demanding restoration of the original payments. But lawyers have also resisted many attempts at reform including independent assessment of those accused of wrongdoing.  So sympathy may be limited for their pay demands. We discuss all with Ames McGuill Senior Council and practising Colicitor in criminal law. 

We go through all the business news and markets with Emmet Oliver and Aidan Donnelly from Davys.

The CVV is the 3 digit number at the back of your card. Retailers will always need it when you buy stuff over the phone or online.  But with 1 in 5 of us being a victim of card fraud, An Post Money is launching a new extra layer of security with a constantly changing CVV number.  It’s all part of the company’s drive to beef up its presence in consumer financial services.  Joe spoke to Lucy Murray the Customer Experience Director with An Post Money and began by asking about how this new CVV system would work. 

The founder and boss of Supermacs as well as numerous hotels and the Barack Obama Plaza, Pat McDonagh, says he’s increasingly worried about anti-social behaviour at his businesses with shoplifting and general lawlessness.  His concerns come as he and other companies in the hospitality trade complain about higher costs including higher wages costs and red tape.Pat McDonagh also says planning delays caused by ‘serial objectors’ are holding up development in this country. Pat joined Joe this morning on the show.

Thursday's business news and updates with Newstalk Business Editor Joe Lynam.

Whether its dried dragon fruit slices or cocktail syrups or gin fusion packs, spicing up our drinks is becoming a big thing especially since COVID. Laura McCarthy started her own business supplying these botanicals to bars and hotels during lockdowns and now she’s mushroomed her business to become a big player on Amazon in the UK, US and even the UAE. They're called Drink Botanicals and they were one of the winners at the National Enterprise Awards. Laura joined Joe this morning on the show to chat about her business.

IBM has calculated that the average cost of a notable data breach per company is €4.49m.  The bigger the firm the bigger the mopping up exercise if hackers get their hands on sensitive data or even if someone leaks it by accident. The good news is that AI can halve that potential bill, but the bad news is that the Irish watchdog in this space the National Cyber Security Centre has admitted that it doesn't have enough qualified staff to do its job. Joe discusses all this with Elaine Hanley, Partner, with IBM Cybersecurity Services Ireland and UK. 

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.