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Breakfast Business with Joe Lynam 7 min 2 speakers 4 chapters transcribed

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What is the main topic discussed in this episode?

Kathleen Brooks 0:01

Breakfast Business. With Enterprise Ireland. On Newstalk.

Emmet Oliver 0:08

Now, good morning to you. This is Emmett Oliver with Breakfast Business. This morning sitting in for Joan Lynham and we have a busy show coming up. We'll be finding out from her about a report on the opaque home transaction process. So a lot of people not happy with the way homes are sold in Ireland and how it's having a negative effect on housing supply. We'll also have details on a new government report addressing economic trends and comparing the Republic of Ireland report with Northern Ireland across a number of economic metrics. And, of course, we also have markets for you. We looked through the papers this morning. Slim enough rations, as you kind of expect as we head into the Christmas season.

What are the major issues with the home transaction process in Ireland?

Emmet Oliver 0:40

Not a huge amount of content on them, but we do have one or two bits. We have the Irish Times talking about that report, a lack of transparency in the bidding process for property and an opaque bidding system, as they call it. It's depressing the number of homes sold in the Republic of Ireland. That is that Bank of Ireland, my home, Over in the Examiner, they're saying the Eurozone is weathering tariffs. Well, the Eurozone economy expanded more in the third quarter than initially reported, representing a broader trend as the global economy proves somewhat resilient in the face of erratic US tariff policy, output rising by 0.3 from the previous three months. And over in the Irish Independent, they're focusing again on that report.

Emmet Oliver 1:22

Northern Ireland compared with the Republic of Ireland. They say the Republic of Ireland has a younger population and a lower old age dependency rate than Northern Ireland, suggesting more favourable long term demographic conditions. So the Republic of Ireland likely to grow more than Northern Ireland on a comparative basis is how they wrap up the main points. Now, as you know, overnight, there's been a lot of developments in the US, particularly around Netflix.

How does the economic performance of the Republic of Ireland compare to Northern Ireland?

Emmet Oliver 1:45

So we're going to look at that and other market developments now with Kathleen Brooks from XTB. Good morning, Kathleen. Good morning. Great to have you. Let's start with that Netflix deal. $83 billion deal to take over Warner, giving them a good share of the streaming market. But we are also hearing overnight that Donald Trump says he wants to look at this deal, says it'll give them a very big market share. So this is certainly doesn't look like a home run at this particular point.

Kathleen Brooks 2:10

No, it definitely doesn't. And actually, even when it was announced on Friday, there had been rumours that it was going to happen. They did say it could take 12 to 18 months to even come through. So whilst we're probably sitting here or consumers are sitting there thinking, what a fantastic back catalogue they could get. And also what a great, you know, Netflix could really maybe boost its content by having these fantastic content creators and filmmakers from Warner Brothers. It does look like it's going to be a long, long road. And you did mention about Donald Trump and he's even weighed in on it. Well, of course he is. And he's saying that, you know, there's monopoly risks and it just highlights how there's monopoly.

Kathleen Brooks 2:45

a lot of regulatory risk around these massive deals. I mean, to be honest, Emmett, there always is. And we would expect a lot of scrutiny. I think Netflix is expecting a lot of scrutiny. No one's expecting their Netflix subscription price to surge or anything to change. Certainly not in the next year or so. But it does suggest that the landscape is changing. And I think what's really interesting is that last week, Netflix share price dropped about 6%. We saw Warner Brothers share price rise about that much. which is very normal in deals like this, but Paramount, so that would be like Netflix, one of Netflix's streaming rivals. It was the worst performing stock on the S&P 500. So I think the investment community, the financial community definitely sees a chance of this happening and does not think it would be good news for Netflix's rivals.

Emmet Oliver 3:31

Now, let's stick with Donald Trump.