With unemployment low, strong exchequer returns and an economy at full capacity, there isn’t much to suggest that Ireland has tipped into a recession. But the latest Central Statistics Office (CSO) figures show the economy contracting by 3.2 per cent in GDP (gross domestic product) terms in 2023. Should that be cause for alarm?
Host Ciarán Hancock is joined by Cliff Taylor and Eoin Burke-Kennedy for a thorough look at where Ireland’s economy is right now.
Later in this episode of Inside Business, Irish Times Business and Technology journalist Ciara O’Brien discusses Apple being hit with a €1.8 billion fine by the EU for breaching competition law. The hefty fine equates to just 0.5pc of the company’s annual turnover. Ciara also outlines the impact of the EU’s new ‘Digital Markets Act’ for tech giants such as Apple.
Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Is Ireland in recession?

A weekly look at business and economics from an Irish perspective hosted by Irish Times Business Editor Ciarán Hancock. Produced in association with EY. See acast.com/privacy for privacy and opt-out information.

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This week we take a deep dive into the issues impacting tech giant Apple. In the year to date, the iPhone maker's share price has fallen by more than 8 per cent, and about €300 billion has been wiped off its market value. Apple has ceded to Microsoft its status as the most valuable US company. 
This drop was spurred by declining sales in China, regulatory scrutiny of its app store, and mounting concerns that the company has lost its edge on innovation, especially in the field of AI. 
But is Apple's recent decline likely to continue in the longer term? Business Editor Ciaran Hancock gets a range of perspectives. 
Guests: Geoff Blaber, CEO of CCS Insight, Denis Staunton, Irish Times China correspondent, Karlin Lillington, Irish Times technology columnist and Ciara O'Brien, Irish Times business and technology journalist.  Hosted on Acast. See acast.com/privacy for more information.

Has Apple Inc run out of ideas?

On this week’s Inside Business with Ciarán Hancock we look at Aviva’s plan to re-enter the Irish health insurance market and what that might mean for consumers.   Will this deliver lower prices for hard pressed Irish consumers? Will it bring additional benefits in coverage? And is worth the hassle to switch for customers of VHI, Laya and Irish Life Health? To get some answers to these questions and more, Ciarán is joined on the podcast by Dermot Goode of Totalcover.ie, a Locktons Company, and an expert on Irish health insurance.   Also on the podcast, the Government published its Stability Programme Update. This is an update of budgetary forecasts provided to the European Union. It predicts a surplus for this year of €8.6 billion and a warning that the economy has slowed.
Cliff Taylor of The Irish Times has been through the document to break down the vast array of numbers and what they mean. How much of the budget surplus might be used to fund tax cuts or additional spending on key public services, given that €6 billion is earmarked for two sovereign funds?
Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Aviva re-entering the Irish health insurance market: ‘this can only be good news for all consumers’

On this week’s episode of Inside Business, host Ciarán Hancock is joined in studio by aviation entrepreneur Ulick McEvaddy. With his brother Des, Ulick has established a successful aviation business over the past 40 years called Omega.   He and Des also own a large parcel of land beside Dublin Airport. Along with two other landowners, it amounts to 260 acres and was put on the market for sale in the middle of last year.   With no sale agreed, they subsequently submitted a concept plan to Fingal County Council to develop the site for a third passenger terminal at Dublin Airport, as part of a €2.2 billion development.   He argues that for the same money as DAA is proposing to spend on its own expansion plan, his proposal would allow the airport to expand by an additional 20 million passengers while solving road access issues and providing a platform for Dublin to become a hub for sustainable aviation fuel.   Crucially, however, he doesn’t have access to the runway, something that was an issue for bidders in the land sale process.   You’ll hear Ulick address that issue and explain why his plan isn’t, as many believe, pie in the sky.   Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

A third terminal at Dublin Airport - urgent necessity or pie in the sky?

On this week’s episode of the Inside Business podcast, we look at the pension pots that auto enrolment could deliver for workers on an average wage.   The State is planning to establish the scheme for workers who do not already have pension cover in their workplace. It has been much delayed but is moving forward and EY this week crunched the numbers to see what workers might get by way of a pension when they retire.   Dominic Coyle of the Irish Times reported on EY’s figures and joined host Ciarán Hancock in studio to explain how exactly auto enrolment will work.   Also on the podcast, the Minister for Finance Michael McGrath’s announced last week that he intended to set up two new funds to help meet the costs of running the State in the years ahead. Cliff Taylor of The Irish Times has been writing about this and joined Ciarán to outline what the funds would be used for and how much tax revenue would be set aside to fund them.
Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

The auto-enrolment pension scheme seems good on paper, but how will it actually work?

Figures from the Society of the Irish Motor Industry this week showed that electric car sales are in reverse, falling by 14 per cent year on year in March. This compared with double digit increases in the sales of petrol and hybrid car. Even diesel sales rose by 9 per cent.   Meanwhile a survey by AA Ireland found that half of the 1000 respondents would not opt to buy an electric car.   Why the hesitance to go electric? And what can be done to incentivise people to buy EVs?   Irish Times motoring editor Michael McAleer joins host Ciarán Hancock in studio to explain why EV sales are going in the wrong direction.   Also on this week’s episode of Inside Business, Irish Times economics correspondent Eoin Burke-Kennedy discusses the drop in Irish inflation for March, where it fell below 2 per cent for the first time in three years. Could this persuade the European Central Bank to begin cutting interest rates from June? And what might it mean for mortgage rates?   Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Is Ireland in recession?

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