NI Wages Up, Gold Mine Stalled: Why Economic Stagnation Fuels Global Autocracy
In this episode of Trading Up Unpacked, Jim and Richard dig deep into the economy and global politics. Northern Ireland is enjoying record pay increases, with annual earnings up 8.1%. We analyse whether this rise translates to real-term gains after years of wage stagnation (which averaged -0.1% over a decade) and how this impacts public and private sector workers.Locally, we examine Stormont's continued paralysis as the proposed $20 billion gold mine in County Tyrone remains stalled, sending a poor message to international investors about barriers to development. Globally, we discuss China's strategic leveraging of rare earth metals in trade negotiations. Finally, a V-Dem Institute report reveals the alarming decline of democracy worldwide—now back to 1985 levels—and we connect this political disillusionment directly to decades of economic stagnation and the rise of autocracy.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.
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49:14
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49:14
Oasis Travel: Sandra Corkin and Son Scott McCabe
Join Sandra Corkin and her son Scott of Oasis Travel, an independent family business that has defied the odds in the travel industry. They share how they survived intense competition, the rise of the internet, and the devastating impact of the COVID-19 pandemic, maintaining a substantial turnover now touching £40 million. Celebrating 40 years of growth, Oasis Travel shifted its focus from low-margin bookings to high-end travel (cruise and luxury packages) where staff expertise adds maximum value. Learn how the new generation is blending personalised, one-to-one service with the right tech, including a new customer app, to ensure the business's bright future.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.
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52:30
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52:30
The New Global Disorder: Trade Wars, US Tariffs, and the Threat to Northern Ireland Business
In this Unpacked episode Jim Fitzpatrick and Richard Ramsey examine how small business can survive in today's big, bad world. The global order has "changed utterly" to one of disorder, making geopolitics a mainstream boardroom issue for businesses of all sizes. This uncertainty, fuelled by rising protectionism and US policies like the Inflation Reduction Act (IRA), is directly impacting the bottom line: 47% of UK listed companies recently blamed geopolitical shifts for issuing profit warnings. While the EU struggles to define a unified strategy between the US and China, the UK-EU relationship reset remains slow. Critical agreements, such as the SPS deal impacting the Windsor Framework, may not be in place until 2027. Locally, Northern Ireland faces severe skill shortages exacerbated by high economic inactivity, including 117,000 long-term sick. Furthermore, the latest business activity Growth Tracker (PMI) indicates a more contraction.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.
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55:54
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55:54
Stephen McKeown - Apprentice mechanic to Allstate CEO
Stephen McKeown grew up in the Glens of Antrim and developed his engineering skills as an "volunteer" mechanic in his Dad's car workshop. He now heads a Digital Centre of Excellence for Fortune 100 company Allstate and this core part of the business just happens to be located in Belfast. The insurance giant came to Northern Ireland in the aftermath of the Good Friday Agreement with the modest ambition of creating 50 jobs. It now employs around 1700 in its European operations and Belfast has transformed from outpost to core hub. Stephen takes us through his early career: which spans a PhD from Queen's; helping build Ireland’s "bad bank" (NAMA) during the financial crisis; and bootstrapping successful tech startups. He discusses the revolutionary shift to a "product mindset" at Allstate with work focused on problem-solving and customer outcomes, a cultural change that led Allstate to win the prestigious Tony Hsieh Award. What's great is that Stephen still manages to balance global leadership with his volunteer role as a mechanic on the local Cushendall lifeboat. This episode is a masterclass in driving change and seizing opportunity in the evolving tech ecosystem; a lesson in how geography is no barrier to being at the centre of global organisations; and a reminder that a good and healthy workplace culture is vital to success.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.
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52:13
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52:13
Fat Loss and Trade
This week it's Trading Up Unpacked with Jim Fitzpatrick and Professor Richard Ramsey digging deep into the nature of north south business and economics in Ireland. From waves of desperate weight-loss drug hunters flooding into Newry; to the growing number of companies in Northern Ireland that are owned in the Republic; to the increasing trade and tourism figures; Jim and Richard explain and explore the underlying forces at work. They also examine revived plans for Northern Ireland to harmonise its business tax rate with the Republic. Wishful thinking or a good idea? Jim and Richard argue it out.Brought to you in association with EY.The views and opinions expressed by guests on this podcast are their own and do not reflect the views or positions of EY or its other member Firms. EY proudly sponsors the Trading Up podcast but does not endorse or take responsibility for any statements made by individual guests. The Trading Up podcast is for informational and entertainment purposes only and does not constitute professional advice. Hosted on Acast. See acast.com/privacy for more information.
Trading Up hosted by Jim Fitzpatrick and produced in association with EY, delves into the real businesses, personal stories, and remarkable journeys of entrepreneurs. Discover insights on risk, resilience, and business growth from diverse founders and leaders in businesses big and small across various industries. Tune in weekly for inspiring entrepreneurial learnings. Hosted on Acast. See acast.com/privacy for more information.
Ireland