100 days of Trump: “It’s like The Karate Kid, tax on, tax off, tariffs on, tariffs off”
This week Inside Business looks at the impact of Donald Trump’s first 100 days in office on markets. The sweeping US tariffs announced on April 2nd rocked equity and bond markets.They plunged in value to such an extent that Donald Trump was forced into a quick U Turn, postponing all of the tariffs for 90 days, with the exception of China.Aidan Donnelly is Head of Global Equities at Davy stockbrokers and joined host Ciarán Hancock in studio to consider the impact of those tariffs and to offer a view on where markets might go for the rest of the year.In the second half of the show, Hugh Linehan of The Irish Times will reflect on the terms being offered in RTÉ’s latest voluntary exit programme for staff in an effort to help the broadcaster reduce its headcount by 400 over the next four years.The funding for this restructuring has essentially been provided by the State via a €725 million three-year funding plan agreed last year with the Government.In a column in The Irish Times this week, Hugh Linehan of The Irish Times examined the plan and asked the question as to whether RTÉ was in a worse position than other media companies in Ireland?Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.
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42:49
Patrick Guilbaud on bringing fine dining to Ireland, retirement plans, and not getting that third Michelin star
This week’s episode features Patrick Guilbaud, the French chef who brought fine dining to Ireland 44 years ago. Situated beside the Merrion Hotel in central Dublin, Restaurant Patrick Guilbaud continues to thrive with two Michelin stars. Guilbaud moved to Ireland in the early 1980’s when the country was in recession, and it wasn’t always plain sailing. A visit from the sheriff for unpaid debts led to a partnership with successful businessmen Lochlann Quinn and Martin Naughton that helped put the restaurant on a sound financial footing. It also led him to relocate the restaurant to the Merrion Hotel site which was developed by Quinn and Naughton. A move that he considers to be the making of the business.In February Guilbaud received the Distinguished Leader in Business award at the Irish Times Business Awards. In this interview with host Ciarán Hancock he discusses those difficult early days of trading, changes in the Irish restaurant trade over the past four decades, the current challenges facing the sector in terms of cost, and his plans for retirement.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.
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47:51
“1 in 5 US households consume Kerrygold” – Ornua CEO Conor Galvin
Kerrygold is one of the biggest food brands in Ireland and one of our largest exports.Earlier today, its parent company Ornua announced that revenues last year were flat at €3.4 billion but its operating profit and Ebitda were up, helped by efficiencies achieved during the period.But that was last year. Before Donald Trump won the US presidential election and later announced sweeping tariffs on all imported goods.Kerrygold is one of the main Irish food brands facing a hit from Trump’s tariffs, which are currently set at 10 per cent for 90 days but could ultimately rise to 20 per cent.Conor Galvin is chief executive of Ornua and he joined me in studio to discuss the impact the 10 per cent tariff is currently having on Kerrygold sales in US retail.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.
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33:47
Trump’s tariffs: “The rest of the world is now going to de-risk from the United States”
A full-blown global tariff war in underway.Donald’s Trump’s tariffs took effect last night with the EU due to vote today on a retaliatory list drawn up by the European Commission.The US and China meanwhile have engaged in tit for tat tariffs in the past few days. China has also vowed to fight to the end in the tariff war.What will all this mean for Ireland? What hit will consumers face?And should Ireland now pivot east to protect jobs and secure new investment?To answer these and other questions host Ciarán Hancock Is joined on this week’s episode of Inside Business by Ibec chief executive Danny McCoy, Cliff Taylor of The Irish Times, and Chris Smyth, group CEO at Perennial Freight & president of the France-Ireland Chamber of Commerce.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.
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46:35
What is behind Ireland’s tourism slowdown?
Last week data from the CSO showed a decline of 30 per cent in the number of visitors to the country in February, with revenue taking a hit of €88 million during the month.This continued a trend dating back to last September.In this week’s episode of Inside Business, you’ll hear conflicting views from the trade on the current state of the tourism sector here.Eoghan O’Mara Walsh, CEO of the Irish Tourist Industry Confederation, tells host Ciarán Hancock why he thinks the CSO figures might be overstating the current position within the sector.Whereas Sean Connick, who operates the Dunbrody Famine Ship Experience and the Kennedy Homestead in Co Wexford, is seeing a different picture with visitor numbers to those experiences declining last year with January and February also soft.In addition, he has had to absorb significant increases in their running costs.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.
A weekly look at business and economics from an Irish perspective hosted by Irish Times Business Editor Ciarán Hancock. Produced in association with EY. Hosted on Acast. See acast.com/privacy for more information.
Ireland