Monday's business news review
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What is the main topic discussed in this episode?
Breakfast Business with Enterprise Ireland on Newstalk. Morning, this is Jonathan Healy on Breakfast Business. This Monday morning, a little bit later, new jobs for the Midlands. We'll be talking to the company that's bringing them and the Irish start-ups that's using artificial intelligence to help detect and prevent seizures. But first, let's take a look at the papers and see what's happening in the markets. Russ Mould of AJ Gould is with us. Good morning to you, Russ.
Morning, Jonathan. I've got a lovely weekend.
A lovely weekend. A good win for Man United yesterday and Munster beat Leinster.
What new job opportunities are emerging in the Midlands?
So it was good all round for me, Russ. Good all round. And rare earths are going to be very much in discussion this week.
How are Irish startups utilizing AI for healthcare?
They are. So these are minerals like scandium, yttrium, terbium, all buried away at the bottom of the periodic table, but rising in importance. They're vital for everything from fighter jets to electric vehicles to solar panels. And China controls a vast amount of the production and even more of the processing. And they're a key bargaining tool between America and China as these trade talks continue. So now, in theory, this week we've got American markets, Treasury Secretary Scott Besant and Chinese Vice Premier Li Yifeng meeting in Malaysia to discuss rare earth supply because China is currently pulling the shutters down as a negotiating tool in this trade tussle with America. And the thinking is, if these talks go well, that may pave the way and confirm a possible meeting between President Trump and President Xi of America and China at an economic conference in South Korea at the end of the month to try and find a solution to this trade fight all once and for all.
I mean, as you say, they're limited, these particular rare earth metals. Are they all in China?
About 90% of the world's processing and a not too dissimilar percentage of the world's actual output at the moment. But America is busily, if you look at what the American government's been doing, it's been buying shares and stakes in mining companies in America, Latin America, where it can find them to try and lock in some supply. So America's gone into these Chinese negotiations thinking as all leverage because of things like intellectual property. But China is proving it's got some intellectual property of its own and some negotiating muscle through its control of these minerals.
Okay. We've been talking a lot about bookmakers in recent weeks following the decision of Paddy Power to close some of its stores. I mean, I'm fascinated by bookmakers, good old-fashioned bookmakers, how they're still bricks and mortar at all, given that everything is online. But now another bookmaker is threatening shop closures.
Yeah, they must have had a good weekend with a 100-1 and a 200-1 winner at Ascot's big Champions Day meeting on Saturday. You'd think that that would be some cheer for them. But yeah, after that announcement from Paddy Power about the UK and Irish closers, Betfred, another one of the biggest players here in the UK... It said it will close all of its nearly 1,300 UK high street shops if Chancellor of the Exchequer Rachel Reeves jacks up gambling taxes at the November budget. Now, whether this is just a negotiating tactic and an attempt to put pressure on the Chancellor or not is hard to say. Some people will say, good, they're a blight, problem gambling brings misery.
What is the significance of rare earth minerals in global trade?
Others will say, hang on a minute, there's a lot of jobs at stake here. It does provide a lot of pleasure for a lot of people. And as you say, Jonathan, yes, you can bet online quite legitimately, but any keen reader of the Racing Post will know in following their research on how many punters are now going to unregulated gambling sites. So the Chancellor may think that she's going to pull in some readies, but she may find it's not quite as simple as she thinks.
Yeah, she'll end up losing money if she moves too quickly.
The experiences of the Netherlands suggest as much, yeah.
US and Saudi Arabia are not fans of global shipping emissions targets by the look of it.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:01–0:36
2
What new job opportunities are emerging in the Midlands?
0:36–0:43
3
How are Irish startups utilizing AI for healthcare?
0:43–3:13
4
What is the significance of rare earth minerals in global trade?
3:13–5:46
5
How is the US addressing its dependence on rare earth minerals?
5:46–7:46