Friday's business news
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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? Electric picnic tickets went on sale the day after electric picnic finished and we saw a big spike on the 3rd of September. There was also an increase in it when we look at the largest selling days for tourism and exhibits. It was on the 16th and the 17th of the month as people flocked to one of the largest trade shows in Europe in the country.
The National Ploughing Championship.
The National Ploughing Championship. And ticket sales were led from customers from Cork to Brary, Galway, Limerick and Offaly, clearly the big attenders at the Ploughing Championship.
Not that many from Dublin, I noticed.
No, not listed in the press release by AIB. It wasn't all good news, though, when we look at its spending in pubs, fell by about 26% month on month, their data reported, and out 17% year on year. But overall, I suppose this spending data is reflective of wider consumer activity data that we're seeing across the economy from retail sales data to central bank card spending data as well. That despite, I suppose, those cost pressures that are there...
And the inflation's jumping up to 2.7%.
As of yesterday, we got that out. Yes, correct. That we still have a consumer who is spending. But I suppose when we look down into different segments of it, they are spending more in different areas. Yeah. I might just add, let's see where does that go to next month. It's the highest rate that we've had in quite some time. But there is an element of a base effect to that. And what I mean is that last September, we saw quite a large monthly decrease in the data that we didn't see this September. And that increase or effects that annual change that we see this September. So I suppose for listeners, I would ask them not to panic. that inflation is rising quite significantly once again. It could be just a statistical effect in the September data.
Certainly there was a jump in grocery spending.
Grocery spending or grocery inflation, we're still seeing consistently in that data, is now dipped below that 5% mark, which is good, but it's still inflation of up over 4.6%, which is really, really strong. And of course, we're all seeing it in our grocery spending every week.
As you say, the base effect is something to keep in mind.
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.
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