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Chapter 1: What are the key business headlines for Friday?
Breakfast Business with Enterprise Ireland on Newstalk. Good morning and welcome to Breakfast Business and thank you to Barry White. It is Friday the 10th of October at 6.31. Happy National Handbag Day for those of you who mark the occasion. Coming up on today's show we'll be talking about EUVAT regulations and we'll be looking at the business of plastic surgery 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 with the esteemed Kate English, Chief Economist with Deloitte. Good morning to you, Kate.
Good morning, Joe.
Any plans for the weekend?
I am meeting friends for dinner and that's about it.
You're not going out on the yacht tonight?
Not going out on the yacht tonight, no. Maybe next, when the weather's better.
Saturday, maybe. Let us start with the AIB spend trend. There were a lot of sporting events and cultural events which spiked our spending.
Yes. So AIB card spending data released today and what we saw in it was a 10% year on year increase in September 2025. But there was huge variations within that spending on groceries is up about 3%, entertainment 12% and ticket sales 45%. If you can guess what drove ticket sales in September? I don't know. Electric picnic sales. Already?
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Chapter 2: How did AIB card spending trends change in September?
Novo Nordisk, the maker of Ozempic and Wegovi, it's buying another pharmaceutical group.
So reported to buy Acero for up to $5.2 billion to gain, I suppose, access to a... potentially new liver disease drug candidate. And it's the first major deal by the Danish drug makers new CEO that they've had in place since earlier this year.
I suppose it's one to watch because when we look across that wider M&A market in the third quarter of this year at a global level, we have seen an increase in global M&A activity. And we're also seeing a bit of movement begin to take place in that European private equity market too.
And why I say it's one to watch is remember, this is all happening in an environment of where we have changing global economic forecasts, which often do create uncertainty and pause decision making. But we also do have that decreasing taking place in interest rates. We've had them at the European level for the last year and we're now finally seeing them at a US side as well.
So is that increasing that level?
So it's slightly cheaper for people to buy?
Yeah, it's creating a little bit of movement and we are seeing, as I said, that activity across the European market as well. So Novo was one example reported in the news yesterday, but will we see more coming?
And Intel shares, another company of interest here in Ireland, they jumped yesterday on a new chip announcement.
Yeah, so I'm no technology expert, so I'm not going to try and explain fully what this chip is.
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