Monday's business headlines
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What is the main topic discussed in this episode?
Breakfast Business with Enterprise Ireland on Newstalk. Good morning and welcome to Breakfast Business with me, Tom McEnany, standing in for Joe Lynham. Coming up, we look into a PwC survey that shows that Irish family businesses are much more growth-orientated than their international peers. A professor of organisational behaviour will explain why many business leaders are not prepared for the AI transformation and we'll have a usual perusal of the markets. But first, let's have a look at the business sections this morning. The Irish Times leads with news that Gardaí are investigating suspicious dealing in Apple Green shares. The dealing, which emerged one year ago, relates to trades in 2020, just before the company announced it had received a takeover approach.
Two men, neither of whom is connected to Apple Green, were arrested and later released last November, writer Joe Brennan tells us. The Irish Independent and the Irish Examiner business sections both lead with an economic outlook from AIB. According to the bank, the Irish economy is expected to see growth continue into next year, but the pace of that growth will be arrested by global uncertainty and the reticence of nervous consumers. Consumer jitters aside, it's worth bearing in mind that the IMF predicted that last month that the Irish economy will grow by more than 9% next year, giving us once again one of the fastest growing economies in the world. The Financial Times leads with an interview with Jameson Greer, the US trade representative, who told the paper that the EU's duties affecting American exports were still too high, despite the deal struck between America and Europe last July.
Yes, you heard that right.
What insights does a PwC survey provide about Irish family businesses?
America is indeed giving out to Europe about having high tariffs. The FT this morning also tells us that Goldman Sachs is vying to capture its biggest share of the deals market in almost a quarter of a century. The Wall Street Bank has advised on 34% buy value of the $3.8 trillion of global mergers announced this year, up from 28% in 2024. Over in the currency, former Sunday Independent editor Alan English, who recently jumped ship to the business news site, starts a three-part series this morning on the boom, bubble and bust that reshaped Ireland's local media. And returning to the Irish Times, it carries a polemic from FT columnist Emma Jacobs calling on business people to read more. Ms Jacobs refers to much-loved octogenarian author Joyce Carol Oates calling out Elon Musk for being uneducated and uncultured.
And given that Mr Musk responded by calling the author a lazy liar, It seems she may indeed have a point. In any case, the columnist quotes Victorian author Matthew Arnold referring to business people by saying, he who works for machinery works only for hatred, works only for confusion, which seems a little bit harsh.
Why are many business leaders unprepared for AI transformation?
Now we're joined for our look at the markets by Russ Mould of investment platform AJ Bell. Good morning, Russ.
Morning to you, Tom.
Russ, do you read much?
book at home, book when I'm commuting on the train between London and Brighton and that's either to decompress and entertain myself or to keep abreast of my ignorance because I cover an awful lot of different topics and certainly things like AI very much new stuff to a history graduate such as myself so I have to keep learning and it's not always just books blogs particularly related to finance I read a lot of history books because I studied history at university but also financial markets do operate in cycles and you do see things that keep on cropping up time and time again
I have to say my favourite, I love to read, but my favourite Matthew Arnold quote is, it's not the one mentioned in the Irish Times and Financial Times this morning, but rather that journalism is literature in a hurry. That's a gem. It is, isn't it? So, Russ, let's deal with the markets. Let's take the benefit of all the reading you've been doing for us over the weekend. The US has struck a trade deal focused on food.
It has. It's with four countries, Argentina, Guatemala, El Salvador, and Ecuador.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–1:50
2
What insights does a PwC survey provide about Irish family businesses?
1:50–3:13
3
Why are many business leaders unprepared for AI transformation?
3:13–6:09
4
What are the latest developments in the Irish economy according to AIB?
6:09–8:30