Tuesday's business news
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What are the latest business news headlines in Ireland?
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'll ask Ian Talbot, the Chamber's Ireland Chief Executive, why their latest survey suggests Irish businesses are simply treading water. And later this morning, the government will officially launch its very first Government Expo to showcase the needs of public bodies. We'll ask Minister Eimear Higgins what Expo 2025 might mean for small businesses. And why exactly did Kingspan's share price jump yesterday? We'll find out in the markets and keep a weather eye on market reaction to the likely end of the government shutdown in the US. But first, let's have a look at what it says in the business sections of the papers.
The Irish Independent leads with that Chambers Ireland survey saying trade barriers and tariffs rank well below labour costs and regulatory burdens among the top concerns of business leaders. We'll put that to the Chambers Ireland CEO, Sean Elsewhere in the Indos business section, writer Gordon Deegan tells us that concerns over the light-bellied Brent Goose has blocked plans for 580 apartments at Rahini in Dublin. That's just the latest blockage for the scheme. In 2021, the High Court noted that the proposed development has clocked up four board planola decisions and no fewer than 10 sets of legal proceedings.
Why are Irish businesses reportedly treading water according to Chambers Ireland?
And that's before the geese stuck their beaks in. The Irish Examiner this morning tells us that the residential construction sector saw an accelerated rate of contraction during October, recording the weakest level of activity since June. And the lead story in the business section, the Examiner tells us that the pay gap for those aged between 15 and 24 is a very surprising 31%. The story says that young men out-earned young women in all bar one of the 13 economic sectors the survey looked at. And over in the Irish Times, its business section leads with a follow-up on its lead story from yesterday, in which Martin Wall revealed that Bus Erin is reviewing many of its commercial bus routes between major towns and cities.
This morning, he informs us that external consultants advised the company would take a €20 million hit if the routes in question are not changed, which suggests BusAaron has been subsidising – my words, my thoughts, not his – suggests that BusAaron has been subsidising these loss-making routes to the tune of €20 million in order to compete with the private sector. The lead story in the Financial Times this morning is that Democrats who crossed party lines to vote with Republicans to back a deal to reopen the US government faced a backlash yesterday as President Donald Trump closed in on ending a federal shutdown that has badly damaged the American economy. We look at that market reaction to the possible ending of the shutdown later in the programme.
And on the back page of the FT, the next column suggests that Sir David Lewis... who moves from Unilever to take over the helm at Diageo, may sell off some of the drinks giant's 200-odd brands to reduce the company's $22 billion debt pile and arrest its poor performance, a move Lex suggests is akin to throwing out the dusty bottle of Captain Morgan's at the back of the drinks cabinet.
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