Breakfast Business

Almost two years after Elon Musk's acquisition of Twitter, many users sought alternatives due to its new right-wing slant. Meta launched Threads a year ago as an alternative to X, aiming to filter out extreme views. Joe spoke with Jess Kelly, technology correspondent, to discuss the performance and reception of Threads.

The political landscape is shifting dramatically, with the Tories ousted from office in the UK, potential changes looming in France, and Joe Biden's second term prospects in doubt in the US. Joe spoke with Russ Mould from AJ Bell and Mike O’Sullivan, author and co-founder of UNIO Wealth Managers, to discuss the implications of these changes in three of the top G7 economies.

We get the latest business news this morning with Joe Lynam.

Few economies are as dependent on international trade as Ireland.  In fact, our international trade is a multiple of our total economy. So other countries are looking on with envy at how Ireland does it and some of them will doubtless attend a conference about that today. The Trade Horizons conference in Dublin Castle has a theme of “trade for a sustainable future”, but is that possible when shipping and transport accounts for huge swathes of global carbon emissions? To discuss with Joe was Dara Calleary is the Minister of State for Trade Promotion, Digital and Company Regulation.

It’s Independence Day of course and US companies are the largest investors in Ireland but amazingly we’re the 5th largest investor in the US.  That means that thousands of Irish companies need to be aware of a new piece of legislation over there called Corporate Transparency  Act.  It has a number of provisions including a declaration of the beneficial owner.  Failure to do so could land you in jail for up to 2 years.  We get the details from Sean Nolan, Partner, international law firm Clark Hill. 

We get the latest business news this morning with Joe Lynam.

The Luas in Dublin is 20 years old. It was severely delayed as usual when it comes to large infrastructure projects in Ireland and it wasn't universally welcomed but now it is about to surpass 50 million journeys in a single year well in excess of its original estimates.  So what lessons have planners learned from LUAS for other big transport projects nationwide and why can't we get stuff built on time here? Joining Joe this morning was Paolo Carbone, Head of Light Rail at Transport Infrastructure Ireland.  

 Foodcloud uses the internet to collect unsold food from supermarkets and distribute it to charities who in turn pass it on to those who need the food the most.  Foodcloud does this with the help of volunteers including 2000 staff members from AIB, which has renewed its financial and volunteer support scheme.  But why are we still throwing out so much food? Joe spoke to Aoibheann O'Brien the Co Founder of Food Cloud. 

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

  In just over 48 hours from now the British people will go to the polls to elect a new government. Everything points to the Labour party winning it. But what will it mean for trade and political ties with this country if a Pro Brexit Conservative party is replaced? Imports from the UK have fallen dramatically this year while exports have also struggled from this country to Britain. And what about Brexit? All issues for Aidan Finnegan is Director of Policy with the British Irish Chamber of Commerce.

What do you do if you are running a successful international property business and making good money? The answer for one lady from Donegal was to pack it all in and open up a distillery in her hometown of Muff. With the distinctively titled name of Muff liquor, it makes gin, vodka and even whiskey, and has some very high profile supporters including Jimmy Carr and Russell Crowe no less.  Joining Joe on the show was Laura Bonner is the founder of Muff Liquor. 

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

After a memorable weekend of music with Taylor, Shania, Longitude and the Saw Doctors, the question will arise about suitable venues to promote and foster music.According to its owners, Ireland’s most advanced music venue is the Lark Hall in Balbriggan part of the Irish Institute of Music and Song.  It’s a beautiful venue and only last week it won a key award from the Royal institute for Architecture for Ireland.  But will IIMS be economically viable and where did it get its money from?  All issues for Michael Dawson, Director of Irish Institute of Music and Song who joined Joe on the show this morning.

When it comes to backing early stage companies, the people who put money in are often known as the 3 Fs: Friends, family & fools.  But there is a category of risk-taking investors called ‘Angel Investors’ who take a punt on a business early doors. Joining Joe this morning was Mary McKenna from Awaken Angels is a former entrepreneur herself runs a syndicate of angel investors which is the first of its kind because it’s run by and aimed at female investors.

Kathleen Brooks from XTB brings us the international news stories this morning along with Joe Lynam.

From July 7th a new EU rule comes into force to improve car safety.  It’s called Advanced Driver Assistance Systems (ADAS) and it will force car makers to monitor driver fatigue, drifting between lanes and even build in a breathalyser.  It will also include new radar technology which is being developed by an Irish company in Shannon Co Clare called Provizio and joining Joe this morning was Barry Lunn is the founder of Provizio.

What started out as a low cost ‘pile em high’ retailer in Dublin on Mary St in 1969 has now developed into a global fashion behemoth.  We call the stores Penneys but they are known as Primark of course overseas.  They’ll be investing a further €40m in stores next month in Portugal but today for the consumers of north Wicklow, Penneys will be opening its latest in the chain in Bray. Joining Joe in studio was Fintan Costello, Head of Penneys in Ireland. 

A look at today's business stories and websites with Joe Lynam and Aidan Donnelly from Davys.

Almost 1 in 4 of us changed jobs over the past 12 months according to the latest work trend Index from Microsoft.   That's the most since lockdowns were relaxed and reflects the fact that younger people - especially Gen Z workers are moving around a lot. The report also looked at attitudes to the huge changes on their way from AI and which groups worry the most about it. Joining Joe on the show this morning was Ronan Geraghty, is Chief Operating Officer with Microsoft Ireland.  

It appears as if things have improved internationally in economic terms and that has helped the Irish economy’s prospects for the next 2 years.  GDP which had been declining here will remain buoyant this year and next according to the ESRI’s quarterly assessment. Unemployment is expected to decline to a near record low of 4% and net inward migration will enable the economy to continue to grow. However the current rate of house construction will not be enough to meet demand.Speaking to Joe this morning was Dr Conor O’Toole is Associate Research Professor from the ESRI.