Joe Lynam

It is Tuesday the 28th of October at 6.30.

Coming up on today's show we'll be talking to the boss of Maxall and we'll be looking at data centres that generate their own power in the future and all the markets as usual.

You can email us business at newstalk.com.

But first, let's have a look at the main business stories in the newspapers and websites.

Donald McNamee in the Business Post reports that the lack of investment products offered by Irish banks reinforces a conservative savings culture in the country and restricts the public's ability to invest, the world's biggest asset manager has warned.

BlackRock, which manages $13 trillion of assets, has also taken issue with several aspects of Ireland's regulatory regime.

cautioning that the rulebook for financial services is being outpaced by technological innovations like AI and tokenisation.

In a recent submission to the Department of Finance, BlackRock said that there was a striking and unfortunate irony in the fact that Irish people are underrepresented in capital markets, even though the country is the third largest fund domicile in the world.

The firm, which is led in Ireland by Enda McMahon, said that Irish retail banks predominantly distribute insurance and pension products with very limited access to investment funds, securities or structured products.

The BBC reports that US and China have agreed the framework of a potential trade deal that will be discussed later.

when their respective leaders meet later this week, the US Treasury Secretary has said.

Scott Besson told CBS that this included a final deal on TikTok's US operations and a deferral on China's tightened rare earth minerals controls.

He also said that he did not anticipate the 100% tariff on Chinese goods threatened by Donald Trump coming into force.

While China will resume substantial soybean purchases, both nations are seeking to avoid further escalation in a trade war between the world's two largest economies.

Trump and President Xi Jinping are due to hold talks on Thursday in South Korea.

Besant met senior Chinese trade officials on the sidelines of the ASEAN summit in Malaysia, which Trump is also attending as part of a tour of Asia.

Beijing said that they had been constructive.

Reuters reports that Amazon is planning to cut as many as 30,000 corporate jobs beginning today as the company works to pair expenses and compensate for overhiring during the peak demand of the pandemic, according to three people familiar with the matter.

The figure represents a small percentage of Amazon's one and a half million total employees, but nearly 10% of the company's roughly 350,000 corporate employees.

The cuts beginning this week may impact a variety of divisions within Amazon, including human resources, known as people, experience and technology, devices and services, among others, the people said.