Wednesday's business news healdines
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What are the latest business news headlines for Wednesday?
Breakfast Business with Enterprise Ireland on Newstalk. Good morning and welcome to Breakfast Business and thank you to Shane Beattie. It is Wednesday the 29th of October at 6.30. Coming up on today's show we'll be talking to the home cooking and meal kit delivery service Gusto and we'll be chatting to the boss of Hidden Hearing 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.
Eimear Walsh and the Irish Examiner reports that the early estimates of GDP economic growth from July to September show a marginal fall of 0.1% compared to the previous three-month period, according to new figures from the CSO.
How did GDP change in Ireland from July to September?
GDP dipped due to a contraction in the multinational sector, exports for which skyrocketed in the first few months of this year. Between January and March, Irish-based companies across pharma, food and medtech exported goods to the US at a rapid rate as part of efforts to reduce their exposure to a series of punitive tariff measures on goods entering the country from President Trump, leading to an almost 7.5% rise in GDP across those three months. Andrew Walsh in the Journal.ie reports that hundreds of jobs are now at risk after Nuvion Group, the parent company of Fastway Couriers, Parcel Connect and Nugo, entered receivership. The company has ceased trading with immediate effect, according to an internal email sent to staff by the receiver's Interpath advisory.
What impact does Nuvion Group's receivership have on jobs?
At least 300 direct jobs are believed to be at risk, with hundreds of more part-time positions also potentially affected. All impacted staff are informed of the news yesterday afternoon. Employees were told that they would not be paid beyond this point and are not expected to attend work unless requested. Adrian Weckler in the Irish Independent reports that the Irish Council for Civil Liberties has filed a complaint with the European Commission over the appointment of the Data Protection Commission's most recent commissioner, Niamh Sweeney.
What are the concerns raised by the Irish Council for Civil Liberties?
The ICCL claims that Ms Sweeney was an inappropriate choice as commissioner, given her previous job as a senior executive for Meta. It is also challenging the legal basis by which Ms Sweeney was appointed. claiming a potential conflict of interest within the adjudication panel. Ireland failed to provide adequate safeguards for independence and impartiality in its process to appoint a new data protection commissioner, the ICCL said about its formal complaint to the European Commission.
What issues are highlighted regarding the appointment of the Data Protection Commissioner?
That process led to the appointment of an ex-META lobbyist. The only member of the selection panel who could claim data protection experience was a big tech lawyer who may be conflicted by close association with tech sector clients.
The panel had no technical experts whatsoever, according to the ICCL.
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Chapters
5 chapters
1
What are the latest business news headlines for Wednesday?
0:01–0:45
2
How did GDP change in Ireland from July to September?
0:45–1:36
3
What impact does Nuvion Group's receivership have on jobs?
1:36–2:07
4
What are the concerns raised by the Irish Council for Civil Liberties?
2:07–2:36
5
What issues are highlighted regarding the appointment of the Data Protection Commissioner?
2:36–3:01