Breakfast Business

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

Last July oil prices reached $123 a barrel as Russia tried to use its energy as a financial weapon against Europe. It didn't work. Prices are now around $75 and the Russians are selling at below cost to India and China in a post-sanctions world. But we won't be in a post-carbon world for another few decades yet and so energy will continue to be central to the functioning of the world economy. Robert Maxwell an energy analyst with DNV consultants joined Joe this morning on the show.

We’ve looked at the redevelopment plans of Dublin port and how Cork port will be actually moving and freeing up acres of land in the nation’s second city. Another city doing that is the Port of Galway. Its rejuvenation plans also involve upping sticks and using the vacated land for new housing as well as public amenities. On top of that Galway port is responsible for some of the biggest onshore renewable energy management in the country. Conor O’Dowd the Chief executive of the Port of Galway spoke to Joe this morning on the show.

A look at today's business papers and markets with Dan Maroney from RBC Brewin Dolphin.

Today we’re gonna talk about the booming trade links between this country and Asia. Over the next 3 or so years, that trade might reach $100billion according to the Government. But trade flows and investment has been complicated by lockdowns and supply chain issues and perhaps even political problems too as America tries to force Europe to pick a side when it comes to the new Cold War with China. Martin Murray Executive Director of Asia Matters joined Joe this morning on the show.

There’s a new €100m fund that has promised to invest exclusively in Irish start and scale-up companies. Its first seed investor was Enterprise Ireland and the final closing investor to make up the fund is the Irish strategic investment fund. The aim is to create indigenous technology-enabled companies to compete with its global peers while providing tax incentives to private investors who back the fund. Speaking to Joe this morning was Alan Merriman the Founder of Elkstone.

We take a run through of some of the business stories today with Newstalk's Business Editor Joe Lynam.

During lockdown, there were many predictions of how the future of work might be in future. Many were surprised and disappointed that some company bosses demanded that all their employees be seen back in the office once all restrictions were lifted last year. But others usually in white-collar sectors- saw hybrid working as a way of retaining their highly prized and highly mobile staff. One Irish software company thinks the future will definitely be hybrid and they're hiring more people to cater to that need. They're called Capella and its founder is Criona Turley who joined Joe this morning on the show.

Massive reform and EU membership have brought Czechia and Poland to the average for European national incomes and now they are huge potential markets for Irish companies. That’s why the government and Enterprise Ireland are over there today touting the wares of a slew of well-known companies including Smurfit, Kingspan, and ICON. Joe spoke to Dara Calleary - the Minister for Trade Promotion, Digital, and Company Regulation about the types of sectors that Irish companies were hoping to grow in both of those nations.

Newstalk Business Editor Joe Lynam takes a look at today's business papers and markets.

Even after a slew of big announcements of foreign companies investing in Ireland, yesterday’s commitment by Analog Devices to a new manufacturing facility and R&D centre worth €630m certainly stands out. Having been in Limerick for almost 50 years, it’s the kind of vote of confidence from a highly mobile technology firm that will be welcomed in the Mid West. Speaking to Joe this morning on the show Martin Cotter, President for EMEA at Analog Devices.

The BER or Building Energy Rating of a home has become almost as important for house hunters as the price and location of their new home. But a survey for Savills has found that homeowners are far more preoccupied with getting lower electricity bills than the environmental benefits of improving their house’s BER by retrofitting it Orla Coyle, Head of ESG with Savills Ireland discussed the findings of this survey.

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

Two-thirds of companies in Ireland are family run and thankfully they appear to have weathered lockdowns and last year’s energy price spike. 84% of family-run businesses said they grew last year compared to 71% globally according to a survey from PwC. But those family companies are in less of a rush to cut their carbon footprint, improve diversity as well as go fully digital. Speaking to Joe this morning was Mairead Harbron Partner with PwC family.

It’s 2 years since the cyber attack on the HSE which crippled the healthcare system in Ireland and embarrassed the sector and the government. Joining Joe in the studio this morning was Richard Staynings the Chief Security Strategist for Cylera and Lecturer in cybersecurity and healthcare management at the University of Denver advises national healthcare systems all around the world and is an expert on the Internet of Things in this space.

Despite an energy shock last night which drove up prices for companies and consumers, Ireland's economy seems to be firing on all cylinders - no more so than in the luxury and branded sector. The Kilkenny design stores have posted their annual results and sales are up 15% in the first quarter compared with the previous year. Speaking to Joe on the show this morning was Jenny Johnston, their Head of Marketing with Kilkenny Centre

On the surface, the Irish economy is doing very well. Foreign direct investment was up 17% last year while the rest of Europe was flat. Unemployment is down to 3.9% and wages are growing. But are we at an inflection point? Is climate risk already priced in? Is the enormous upheaval that could be caused by artificial intelligence accounted for? All issues for Harry Goddard - Chief executive of Deloitte IRL who joined Joe this morning on the show.

Aidan Donnelly brings us the latest from the money markets this morning with Business Editor Joe Lynam.

Ireland’s attractiveness for foreign direct investment was highlighted once again in a new Europe-wide survey from EY. It’s found that FDI was up 1% in Europe last year but rose by a staggering 21% in Ireland in that time. Furthermore, more than half of the projects being started by international companies were outside the capital which included technology, professional services and medical devices Feargal de Freine, Assurance Partner at EY Ireland spoke to Joe on the findings of this report.

Since the start of the war last year, Russia has faced sanctions and economic ostracization from Europe and North America never before seen by any nation. The EU has surprised many observers by mostly singing from the same hymn sheet in its clampdown on Russian companies, individuals, and resources. The EU created a special envoy to monitor those sanctions and it’s the Irishman David O’Sullivan.