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Breakfast Business with Enterprise Ireland on Newstalk.
Good morning and welcome to Breakfast Business and thank you to Eamon Torsney. It is Wednesday the 1st of October at 6.30. Welcome to the final quarter of 2025. Coming up on today's show we'll be talking to the boss of Enterprise Ireland and we'll be looking at how many complaints against big technology companies have been processed here 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. The FT reports that Elon Musk's business empire has been hit by a wave of senior departures over the past year as the billionaire's relentless demands of political activism accelerate turnover among his top ranks. Key members of Tesla's US sales team, battery and powertrain operations, public affairs arm and its chief information officer have all recently departed, as well as core members of the Optimus robot and AI teams on which Musk has bet the future of the company. Churn has been even more rapid at XAI, Musk's two-year-old artificial intelligence startup, which emerged with his social network X in March.
Its chief financial officer and general counsel recently departed after short stints within a week of each other. The moves come part of an exodus from the conglomerate of the world's richest man as he juggles five companies, from SpaceX to Tesla, with more than 140,000 employees. The Financial Times spoke to more than a dozen current and former employees to gain an insight. Peter Flanagan in the Irish Times reports that the drug maker Novo Nordisk is set to cut jobs at its Irish unit. The Danish firm notified the Department of Enterprise of collective redundancies on September 10th. While it is not clear how many jobs will go at the company's operation here, businesses are required to notify the government if more than 30 jobs are being cut.
The firm, which counts the blockbuster weight loss drugs Ozepic and Wegovi among its products, employs around 400 people in Athlone County, Westmeath. Staff there were briefed on Monday that up to 75 jobs could go, the Westmeath Independent reported. Out of respect for the employees involved, we will not share additional details about individual sites or areas, a Novo Nordisk spokeswoman said in a statement. John Burns in the Irish Independent reports that Irish retail investors now have the opportunity to buy a wider range of exchange-traded funds on the European market at lower cost, the stock exchange operator Euronext has said. Promising to unify the European ETF market and remove long-standing structural inefficiencies, Euronext is creating the first fully integrated marketplace for increasingly popular funds.
Instead of having to list the same instrument on several European exchanges, issuers will now be able to use a single listing. The new model also combines the clearing and settlement system. At present, according to Euronext, the fragmentation of the market has led to much trading of ETFs happening over the counter or on alternative trading platforms, which reduces transparency and making sales more common.
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