Inside Business with Ciaran Hancock

The new governor of the Irish Central Bank, Gabriel Makhlouf, settled into the role this week, telling staff that he will be in listening mode over the coming months. Joe Brennan outlines what he’ll have found waiting in his in-tray on his first day, including a key ECB governing council meeting on September 12th that will consider whether to ease rates or launch a new bond-buying programme – or both – to shore up the euro zone economy.Later: Mark Paul has the story of Irish-backed company, Process & Industrial Development, which has won a $9.6 billion (€8.7 billion) UK court judgment against the Nigerian government. P&ID, an offshore company linked to Dublin-based Industrial Consultants (International), won the huge arbitration award after a 2010 gas deal to build an oil refinery in Calabar fell through.Plus: Peter Hamilton has some of the other big stories this week including exchequer returns, Dalata results and falling wine sales. Hosted on Acast. See acast.com/privacy for more information.

Two sets of figures were released by the CSO this week. One shows a return to net emigration in Ireland: more people departed the country than arrived in the year to April. Another set, the latest Labour Force Survey, reveals 2.3 million people are now employed in the state, the highest ever figure. What lies behind the figures? Dominic Coyle asks Eoin Burke Kennedy. And Fiona Reddan has a story of a too-good-to-be-true investment opportunity that turned out to be just that. First, though, it's Peter Hamilton with a roundup of the latest business news including another dip in sterling, another Press Up investment and punishment for corporates implicated in the US opioid crisis. Hosted on Acast. See acast.com/privacy for more information.

Earlier this week Irish Times columnist Chris Johns wrote about why a hard Brexit on October 31st will be the beginning, rather than the end, of a chaotic phase in Britain’s history and that the country is facing a future as a failed state. He talks to Ciarán about why that is and why he believes that Boris Johnson’s decision to back Dominic Cummings as his senior adviser will come back to haunt him.They’re joined by Ibec’s director of policy and public affairs Fergal O’Brien to discuss why it is so difficult for Irish business to prepare for a no-deal outcome, how the Irish economy will cope and what measures Minister for Finance Paschal Donohoe needs to take in October’s budget to soften the landing in 2020.Plus: Peter Hamilton takes us through some of the week’s other business news including Ryanair’s scuppered pilot strike, Facebook’s new privacy tool and Hershey’s stake in Irish snack brand Fulfil. Hosted on Acast. See acast.com/privacy for more information.

Vodafone got out of the traps first this week announcing the beginning of its roll-out of 5G internet. So, how much will it cost? And, what will it mean for Irish businesses and consumers? Ciarán talks to Professor Ronan Farrell of Maynooth University, which launched a 5G test centre earlier this year, and Irish Times business reporter Charlie Taylor.Plus: Laura Slattery has a roundup of some of the other business stories of the week including the departure of Norwegian Air from the Irish market, the purchase of Green Reit and a chill in property prices. Hosted on Acast. See acast.com/privacy for more information.

Harland & Wolff is officially in the hands of administrators. The legendary Belfast shipyard, once the world's largest, is now a symbol of the decline of British manufacturing and heavy industry. That decline is a subject that our guest today, Eamonn Fingleton, has written and reported on for decades. We're also joined by our reporter Francess McDonnell who has the latest on negotiations to keep the shipyard and its employees going.But first Laura Slattery has a roundup of the latest business news including a hefty fine for a large Irish firm, Boohoo buying Karen Millen and the disruptor snapping up a rare commodity: talented sports journalists. Hosted on Acast. See acast.com/privacy for more information.

Looming international tax changes will be a big setback for Ireland's relationship with multinationals. But how great is the danger? And, how can we adapt to these changes, while continuing to attract foreign direct investment and develop other parts of the economy?To discuss how this might play out, Cliff Taylor is joined by chief economist at Ibec Gerard Brady and Martina Lawless, associate research professor at the ESRI and member of the Irish Fiscal Advisory Council.Plus: Laura Slattery on some of the other big stories this week, including steep Sterling loses and the continuing controversy surrounding Ireland's new Central Bank governor Gabriel Makhlouf. Hosted on Acast. See acast.com/privacy for more information.

Earlier this week minister of state at the Department of Finance Michael D'Arcy told The Financial Times that banking pay restrictions should remain in place - in spite of pressure from the banking industry to loosen them. AIB, Bank of Ireland and Permanent TSB are currently subject to a €500,000 salary cap, while a punitive 89% tax rate applies to any bonuses paid. Should the restrictions stay or go? Ciarán talks to Brian Hayes, former Fine Gael TD and MEP who is now CEO of the Banking and Payments Federation Ireland, and then by Pearse Doherty, Sinn Fein TD and finance spokesperson, for two different views on the issue. Plus, Peter Hamilton has all the latest business news including more pay disputes at Ryanair, how the markets are reaction to Boris Johnson's election as Tory party leader and struggling state agencies. Hosted on Acast. See acast.com/privacy for more information.

With the publication this week of the final report on Irish banks's practice over several years of denying customers their rightful tracker mortgage rates, Ciarán talks about the scandal with Brendan Burgess of consumer forum askaboutmoney.com and The Irish Times markets correspondent Joe Brennan. Have the banks really changed? And Peter Hamilton has all the latest business news, including the Irish firm turning plastic into wax and the sudden relevance of outgoing Bank of England governor Mark Carney's Irish citizenship. Hosted on Acast. See acast.com/privacy for more information.

On today's podcast Ciarán Hancock talks to David Hall, the mortgage debtor advocate, who expects 20,000 homes to be repossessed by banks or so-called vulture funds over the next six years. Mr Hall was a co-founder of the Irish Mortgage Holders Organisation, a not-for-profit body set up post the 2008 financial crash to help those in mortgage arrears to restructure their loans and remain in their homes.Earlier this month, in the wake of Ulster Bank announcing plans to sell ¤900 million worth of residential loans that are deep in arrears, Mr Hall said a tsunami of repossessions was coming in Ireland.He tells the podcast what IMHO plans next to help mortgage holders in arrears dealing with vulture funds.But first Peter Hamilton has the latest business news, including a look back at the life of Penneys founder Arthur Ryan who died this week. Hosted on Acast. See acast.com/privacy for more information.

Property price growth has slowed to its lowest level in five years, according to a report from Davy and property website myhome.ie.The study also suggests asking prices in Dublin, the most volatile segment of the market, are now falling for the first time since 2013.Eoin Burke-Kennedy of The Irish Times and Conall Mac Coille, chief economist at Davy, talk to Ciarán about what's behind the housing market moves. They also discuss the latest exchequer return figures that indicate a continuation of twin trends: a tax revenue boom, and cost overruns at the Department of Health. But first Peter Hamilton has the latest business news including a vacancy at the IMF with Christine Lagarde's appointment to the European Central Bank, more Press Up expansion, and a glimpse inside Larry Goodman's Goodman group. Hosted on Acast. See acast.com/privacy for more information.