Breakfast Business

A look at today's business papers and websites with Joe Lyanm Newstalk's Business Editor.

Germany used to be known as the engine of Europe. One which often dragged other smaller economies upwards. But the engine is in need of service these days. The economy is set to shrink this year and is already in a technical recession. Much of that lies in the mounting costs for 1 million Ukrainian refugees as well as the weakness of one of its export markets in Asia notably China. But some of the reasons are deeper and structural because Ireland exports €24 billion to Germany, it matters to us. With more on this, Joe was joined by Derek Scally the Germany Correspondent for the Irish Times.

The importance of cloud computing cannot be overstressed. How many companies store their data locally on hard drives? How many people buy physical copies of whatever software they need? No, we mostly use the cloud for software as a service and easy access to customer data. But what happens if the Cloud fails or is hacked and becomes inaccessible? A new survey found that three-quarters of IT leaders admit that a ‘cloud outage’ would be “catastrophic” for their business. It was carried out by the cloud computing business Auxilion and its founder and CEO is Philip Maguire.

A look at today's business papers and websites with Newstalk Busines Editor Joe Lynam.

We live and work in a knowledge economy where our skillset needs to be constantly updated. But a LinkedIn survey noted that “getting employees to make time for learning” was the number one barrier to upskilling. Is Microlearning one of the solutions where we do plenty of small courses at a time that suits the employees rather than the boss? Speaking to Joe this morning was Matteo Penzo the founder of Zick Learn which is an Irish-based microlearning platform.

Last week the Government published its latest AI strategy including investment in talent and the creation of proper regulation but what about companies? What should they do to ensure their staff isn't using AI to write reports, design logos and even interact with customers? The Chartered Institute of Personnel and Development wants to set out rules of the road for HR managers to ensure that workers know what is expected of them. Mary Connaughton is the Director of the CIPD and discuss this further with Joe this morning.

A look at today's business papers and websites with Newstalk Business Editor Joe Lynam.

Ireland has set itself a very tough target of having 80% of its energy mix from renewable sources by the end of this decade. To achieve that it needs lots of big new infrastructure including interconnectors with other countries. One of the biggest is currently at the planning stage and will allow Britain and Ireland to share whatever surplus renewable energy they have with each other. Speaking to Joe this morning Simon Ludlam is the Chief Executive of the company that is going to lay that subsea cable called MaresConnect.

Apart from our own banks with their inglorious recent past, we know a lot about UK banks but very little about continental European banks. The biggest in Europe is BNP Paribas these days and this year it is celebrating 50 years here in Ireland. But would the French bank ever be tempted into lending home loans or even credit cards here? All issues for Derek Kehoe, Chief Executive of BNP Paribas Ireland who joined Joe on the show this morning.

A look at today's business papers and websites with Newstalk Business Editor Joe Lynam and Mike O'Sullivan from UNIO.

If you earn well, you have the luxury of placing your money with funds or wealth managers. You can also stipulate where you wish your money to be invested. But how do you square the circle of making money and doing the right thing - especially in a world of greenwashing and high returns from fossil fuel investments? Paul Price is the chief executive of Haven Green Investment Managers and Chair of the Irish Association of Investment Managers.

A look at today's business papers and websites with Newstalk Business Editor Joe Lynam.

Yesterday the government set out its AI strategy and one of the key parts of it is to train up the AI experts of the future. Are our universities match fit and producing the right types of Graduates? Gina Quin the President of the National College of Ireland spoke to Joe this morning.

9 months ago, there were very real fears that Ireland would be plunged into a recession amid soaring interest rates and energy costs. Both remain high but the Irish consumer appears to be a lot more resilient than we thought. According to MasterCard, people have spent more on experiences such as travel & entertainment than on apparel, jewellery, furniture, or electronics where sales have been contracting. Natalia Lechmanova a senior economist at Mastercard explained their consumer spending findings.

Unless you’re literally off the grid, you’ll have noticed soaring energy costs. Many of us will be considering cutting our dependence on the electricity grid by getting some solar panels or a heat pump. But according to research from Chadwicks, many of us are in the dark when it comes to how much we could get in grants or support from the Government through the SEAI system. Speaking to Joe this morning Patrick Atkinson is the Chief Executive of Chadwicks Group which has set up a website to promote retrofitting of your property.

A look at today's business papers and websites with Newstalk Business Editor Joe Lynam.

As we know, global lockdowns had a huge impact on the economy. The shutdown meant that containers didn't move around and when they did they quadrupled in price due to a speedy reopening in trade. That also led to something called ‘nearshoring’ whereby importers wanted to have reliable producers closer to their main hub - even if that meant paying way more. And that in turn has kickstarted inflation issues with which we are only now emerging. So supply chains matter. Amy Shortman is the Vice President of Product Marketing at the supply chain company Overhaul

A run-through of some of the business stories today with Newstalk Business Editor Joe Lynam.

For a small and very open island economy, airports are vital to the functioning of this place. Dublin airport is the most important access point in the country and is facing an order to curb flights after 10pm and before 7 am. Ryanair believes this could lead to major routes being cancelled and the DAA is appealing the decision by Fingal County Council to the courts. But what does this tell us about the economics of running an airport? One person who knows more than most of us is Dr. Cathal Guiomard from Dublin City University Business School has co-authored a new book -called Airport Economics.

We’re taking out 25% more unsecured loans with banks than last year and we’ve spent a lot of that on buying new cars and home improvements. That’s despite soaring interest rates and stubbornly high inflation. It’s all good news for the banks of course and comes in the week that they posted astronomical profits. Brian Hayes the Chief Executive of the Banking & Payments Federation joined Joe this morning on the show.