Joe Lynam
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Business Editor of @newstalkFM. I’m still heard on @BBCworldservice. Headline Money & Wincott Prize winner. www.joelynam.com
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Articles by Joe Lynam
Is it cheaper to renovate an old building or knock it down? — Joe Lynam
Ballymore is one of the biggest construction companies in Britain and Ireland these days - currently building the Guinness Quarter, Sea Gardens in Bray as well as numerous large projects in the UK including Nine Elms in London. I spoke to Pat Phelan – the Managing Director of Ballymore Ireland about what it is being-a-major-builder-these-days - and asked him about whether there are enough builders to meet demand.
Dublin Airport will breach 32 million passenger cap in 2024 - DAA
Dublin Airport will exceed a cap of 32 million passengers this year, airport operator DAA has told Newstalk. It says it will exceed the cap by one million passengers - bringing the estimated final tally to 33 million people. The airport operator said that it was caught 'between a rock and hard place' as it could not control the number of slots allocated and did not wish to stifle economic growth by limiting the number of people who could use the airport.
COVID lockdown: Insurers have now paid pubs and restaurants more than €250m
News More than 6,000 pubs, café and restaurants have now received insurance payouts for COVID lockdowns, More than €250 million has been paid out by insurers to hospitality businesses that were forced to shut down during COVID. More than 6,000 pubs, café and restaurants have now received insurance compensation for lost revenue during the Government-ordered lockdown in March 2020.
On the Make America. Again! — Joe Lynam
On The Make America, Again!! Most people have a sunny image of America thanks to watching films and TV series. It usually displays wealth and sunshine. People are usually well groomed and mostly friendly. Americans are certainly friendly but mostly to those whose money they depend on. I spent a week in California and Nevada recently (catching U2 in the Sphere if you must know) and was struck by the sheer cost of things and the sheer nakedness of the upselling.
Joe Lynam: The future of autonomous driving taking shape on the Atlantic
Just as you should never judge a book by the cover, you should never judge modernity by the remoteness of the town. Shannon was created out of marshland six decades ago and was supposed to be a new type of Irish urban dwelling. The airport became a vital hub for transport communications and tourism but it fell out of favour in the 1990s, as all the technology companies wanted to be close to Intel and the capital city on the east coast.
Aldi checks out of delivery service with Deliveroo
Aldi has stopped delivering groceries to Irish households, in a sign that online grocery shopping may not pay for retailers. The German discount retailer has bagged up its trial with Deliveroo, which allows customers to order goods for delivery. The supermarket says it is instead focusing on click-and-collect services. "We have decided to end our trial with Deliveroo to focus on our click-and-collect service, which remains on offer at 20 of our stores nationwide," Aldi says.
Why Lockdown persuaded me to start training to be a pilot aged 50 — Joe Lynam
Not for me the fast cars or faster women of middle age - though I did mentally go back to my childhood and the desire aged 14 to be a pilot. That notion was extinguished when I needed corrective glasses to read the blackboard and the received wisdom of 1984 was that men with specs never fly planes. Like many dreams (good and bad) they never fully die. They sometimes fester and need to be itched.
2 guys called Guy and a sense of humour failure — Joe Lynam
In 2006 I was back from an attachment in Bush House as a presenter on the BBC World Service and had been ‘rewarded’ with a year of producer shifts - mostly working at night. Those shifts entailed working for 14¼ hours overnight on the Breakfast TV show. That gave me 9¾ hours to get home, sleep, wash, eat and commute back into TV Centre. I’m sure it would be illegal now and I’m fairly sure it was illegal back then too.
The awful interview for the BBC which got me a job 20 years ago, which I didn't deserve — Joe Lynam
In early 2001 when I used to be a freelance technology journalist my luck was starting to run out. The Dot Com boom had turned into the Dot Com Bomb. Shares had collapsed to pretty much where they deserved to be: i.e. all-but worthlessness and newspapers and magazines were rapidly shedding Tech supplements and even articles because the advertising that drove them had evaporated. I had a mortgage and my sporadic income was starting to resemble a lesser spotted eagle.
The day I was on Newsnight about Bitcoin (worth $50) when I had just read about it — Joe Lynam
On the day that Bitcoin fell by 20% in value in a single day, (ie Monday Jan 11th) I recall the time I had do a TV package on BBC Newsnight when it reached a ‘crazy’ price of $50. On the day that Bitcoin fell by 20% in value in a single day, (ie Monday Jan 11th) I recall the time I had do a TV package on BBC Newsnight when it reached a ‘crazy’ price of $50. Amazingly I used to be a technology reporter.
In Jan 2014, I had never heard the name AirBnb but I had to interview its founder Brian Chesky — Joe Lynam
Last week Airbnb floated on the Nasdaq stock exchange. It was a big success with shares doubling on day one, valuing the company at $100 billion. It allowed me to recall my interview with the founder of the start-up from San Francisco seven years ago. In January 2014, I had never heard the name AirBnb but I had to interview its founder Brian Chesky for the BBC.
Who are Estonians anyway? — Joe Lynam
Who are the Estonians, anyway? First published in www.Postimees.ee (in Estonian) on Sat 21/11/2020 https://leht.postimees.ee/7115054/kohalik-vaade-millised-on-eestlased (in Estonian and with subscription only) I married an Estonian. My two blonde sons are half Estonian and I pushed for them to be bilingual and attend Estonian school here in London. Of course they now speak a hybrid language which I call ‘Eestlish’.
The unforgettable Election nights in the US embassy — Joe Lynam
There won't be one this year but every four years the US embassy hosts one of the most prized social events in the British political calendar. It’s not white or black tie, you don't have to be a diplomat or royalty (though it helps), it’s not even advertised and no one ever writes about it in advance. And you can drink (almost) as much as you like without causing a diplomatic incident.
Fight to protect the Conran name
By Joe Lynam BBC News business reporter Designer Sir Terence Conran sold rights to the name of his company in the early 1990s but is now involved in a heated debate over plans to expand the brand internationally. "What's in a name? That which we call a rose By any other name would smell as sweet." Sir Terence sold the rights to his firm's name in the 1990s Shakespeare knew the value of a name but perhaps not its cost.
Bob Geldof and the curious incident in the embassy with Prince Charles — Joe Lynam
Bob Geldof and the curious incident in the embassy with Prince Charles This week Live Aid celebrated its 35th birthday. I have been re-watching all the documentaries about that joyous day in 1985 and how Bob Geldof bullied, verbally beat up, and cajoled so many VIPs to play at the biggest gig in the world. It was a feat that only a certain type of personality could do. Taking the first, second or third no for an answer is not that type of personality.
What Native Americans and the starving Irish had in common
What Native Americans and the starving Irish had in common Posted on May 7, 2020 by Joe Lynam 173 years ago, Ireland was starving. 3 million people either died or were forced to emigrate due to the potato famine. Amid that crisis, a tribe of Native Americans collected $170 – worth $5000 in today’s money – and sent it to help the Irish people. Now the Navajo nation tribe has itself been badly affected by the Coronavirus and reached out to the Irish people for help.
BLOG - Joe Lynam
The London Taxi with the bomb outside TV Centre before it exploded On the day that Bitcoin fell by 20% in value in a single day, I recall the time I had do a TV package on BBC Newsnight when it reached a ‘crazy’ price of $50. In January 2014, I had never heard the name AirBnb but I had to interview its founder Brian Chesky for the BBC.
Should Govts issue vouchers to consumers to save the High Street?
Why ending ‘lockdown’ must come with ongoing support and in phases in order kickstart High Street spending post COVID-19. Joe Lynam & Chris Leslie Originally published on HuffPost UK The much desired ‘V’ shape recovery in consumption may well be illusory, but policy-makers must surely try hard to get there. Certain ‘offline’ sectors could bounce back from lockdown relatively well – hairdressing, garden centres, pharmacies maybe.
The Day I met Joe Biden in 2003 — Joe Lynam
Now that Joe Biden is certain to be the Democratic nominee and has a 50% chance at least of being the next president of the United States, my mind wandered back to the day I met him in Switzerland 17 years ago. I was among the most junior of junior producers in the BBC at the time - effectively a ‘meet and greet’ or ‘pump and grin’, to pick up guests at the studio door and ensure they had a paper to read and coffee to sip before they were put on air.
When Joe met Joe - the day Joe Biden shocked me at Davos
Now that Joe Biden is certain to be the Democratic nominee and has a 50% chance at least of being the next president of the United States, my mind wandered back to the day I met him in Switzerland 17 years ago. I was among the most junior of junior producers in the BBC at the time – effectively a ‘meet and greet’ or ‘pump and grin’, to pick up guests at the studio door and ensure they had a paper to read and coffee to sip before they were put on air.
The world needs a new Bretton Woods after COVID19
By David McWilliams and Joe Lynam for the Irish Times The world as we know it is about to change radically as a result of COVID19. How we live our lives, how we work, how we socialise and how money moves will change – and profoundly. We’ll leave others to figure out the first three but in terms of how money moves around the world, we will need to find a new way of financing the global economy when this virus has passed.
Mervyn King: Banks putting profits before customers
Banks are trying to maximise short-term profit at the expense of customers, the Bank of England governor has said. In a Daily Telegraph interview, Mervyn King questioned the bonus system and warned that failure to reform the sector could result in another financial crisis. BBC correspondents say the remarks are significant because the Bank of England is taking over regulation. Banking chiefs said they "respected" Mr King but disagreed with his comments.
Kraft Heinz drops Unilever takeover bid
Kraft Heinz has abandoned its offer to buy Unilever, its Anglo-Dutch rival. The Marmite maker rejected the US food giant's bid on Friday, saying it saw "no merit, either financial or strategic" in Kraft's offer, worth about $143bn (£115bn). "Unilever and Kraft Heinz hold each other in high regard," the companies said in a joint statement. Shares in Unilever, which closed 13% higher on Friday, fell 7.3% in lunchtime trading in London to £35.18.
Carillion collapse: UK puts up £100m to back Carillion contractor loans
Image copyright Getty Images Contractors affected by the collapse of outsourcing giant Carillion will be able to apply for government-backed loans from High Street lenders. Thousands of Carillion suppliers were left unpaid after the construction giant collapsed in January. Ministers say the state-owned British Business Bank will guarantee £100m of lending to those firms, which should make it easier for them to borrow. This is in addition to funds created by Lloyds Banking Group, HSBC and RBS.
Carillion collapse: UK puts up £100m to back Carillion contractor loans
Contractors affected by the collapse of outsourcing giant Carillion will be able to apply for government-backed loans from High Street lenders. Thousands of Carillion suppliers were left unpaid after the construction giant collapsed in January. Ministers say the state-owned British Business Bank will guarantee £100m of lending to those firms, which should make it easier for them to borrow. This is in addition to funds created by Lloyds Banking Group, HSBC and RBS.
UK stock markets close at a record high
UK stock markets climbed to new highs on the final day of trading for 2017. Both the FTSE 100 index of leading blue chip companies and the FTSE 250 reached new records at the close of trading. US stock markets have also hit new peaks over the year, helped in part by Donald Trump's sweeping tax reforms.
Co-op sells food after 'best before' dates in waste crackdown
East of England Co-op will become the first major retailer to sell food beyond its "best before" dates. The chain's 125 stores in East Anglia will sell dried foods and tinned products for just 10p in a bid to cut food waste. Wrap, the waste and recycling advisory body, said the Co-op's "bold" move complied with food safety standards. The UK throws away 7.3 million tonnes of food every year, according to the Food Standards Agency.
Privatised firms paid shareholders £37bn since 2010 - Labour
Privatised companies have paid more than £37bn in dividends to shareholders since 2010 according to Labour. Shadow chancellor John McDonnell says in a speech that money could have been invested in public services. Labour says it would renationalise some services, but critics say privatised firms are more efficient. One of the firms, National Grid, said it had invested £14bn in infrastructure since 2007, as well as paying shareholders £10bn since 2010.
Police conduct inquiries into Royal Bank of Scotland unit
Police are looking into the treatment of customers by a division of RBS which was set up to help companies in trouble, the BBC has learnt. GRG was the part of the bank tasked with helping small businesses, but it has been accused of mistreatment by some customers and MPs. Officers in Scotland are conducting inquiries into the GRG unit, but are yet to open a formal investigation. RBS said it would co-operate with any request for information.
Police conduct inquiries into Royal Bank of Scotland unit
Police are looking into the treatment of customers by a division of RBS which was set up to help companies in trouble, the BBC has learnt. GRG was the part of the bank tasked with helping small businesses, but it has been accused of mistreatment by some customers and MPs. Officers in Scotland are conducting inquiries into the GRG unit, but are yet to open a formal investigation. RBS said it would co-operate with any request for information.
Mobile journalism: Hackastory's best mojo tools for journalists
We owe you the answer to the question: the typical cellphone user touches his or her phone 2,617 time every day, according to a study by researcher Dscount in Business Insider. Yep, we can’t imagine a world without it anymore. Mobile journalism is getting more and more popular. Last year Dougal Shaw, innovation journalist, and Joe Lynam, business correspondent, shot almost a whole BBC news bulletin with their iPhones. Nowadays we are even making fulll documentaries with only using a phone.
Monarch airline awaits package holiday licence decision
Monarch is in last-ditch talks with the aviation regulator about renewing its licence to sell package holidays. The travel company has until midnight to reach a deal for its Atol licence or ask for more time from the Civil Aviation Authority. The regulator extended Monarch's licence for 24 hours on Saturday because of uncertainty about the company's future. About 10,000 people on holidays sold by the airline are thought to be abroad.
Ryanair cancels flights after 'messing up' pilot holidays
Ryanair cancelled 82 flights on Sunday after admitting it had "messed up" the planning of its pilots' holidays. The budget airline said on Saturday that it would cancel 40-50 flights every day for the next six weeks. Marketing officer Kenny Jacobs said affected customers with bookings up to 20 September had been informed. "We have messed up in the planning of pilot holidays and we're working hard to fix that," he said.
Ryanair is to cancel 40 to 50 flights every day for the next six weeks, in a bid to improve punctuality of flights. The budget Irish-based airline announced the plan on Friday, saying that it was "unacceptable" that its punctuality had fallen below 80% in the first half of this month. It also said it had to clear a backlog of staff leave by the end of the year. The move could affect up to 285,000 passengers, who will be offered alternative flights or refunds.
Businesses who pay excessive salaries to senior executives represent the "unacceptable face of capitalism", Prime Minister Theresa May has said. The "excesses" of some bosses was undermining confidence and "damaging the social fabric of our country", she wrote in the Mail on Sunday . Firms that face shareholder revolts over salaries and bonuses will be named on a new public register, Mrs May said. She also said firms could decide how workers are represented in boardrooms.
RBS accused of mistreating businesses in leaked report
Image copyright AFP The RBS department set up to help companies in trouble mistreated many of its clients, a leaked report for the Financial Conduct Authority says. It found some "inappropriate action" - such as interest charges being raised or unnecessary fees added - was experienced by 92% of viable firms seen by RBS's Global Restructuring Group. GRG operated from 2005 to 2013 and at its peak handled 16,000 companies. The banking giant denies systematic abuse of its customers.
The RBS department set up to help companies in trouble mistreated many of its clients, a leaked report for the Financial Conduct Authority says. It found some "inappropriate action" - such as interest charges being raised or unnecessary fees added - was experienced by 92% of viable firms seen by RBS's Global Restructuring Group. GRG operated from 2005 to 2013 and at its peak handled 16,000 companies. The banking giant denies systematic abuse of its customers.
Flipboard on Flipboard
Royal Bank of Scotland is cutting 443 UK jobs dealing with business loans as it shifts many of the roles to India. The state-owned bank said it was moving the jobs, which help to handle loans for small businesses, as part of an ongoing cost-cutting drive. But it added that UK-based staff would continue to do the work that involved customer contact. The Unite union said UK workers and taxpayers would lose out from the move.
Royal Bank of Scotland to move hundreds of jobs to India - BBC News
Royal Bank of Scotland is cutting 443 UK jobs dealing with business loans as it shifts many of the roles to India. The state-owned bank said it was moving the jobs, which help to handle loans for small businesses, as part of an ongoing cost-cutting drive. But it added that UK-based staff would continue to do the work that involved customer contact. The Unite union said UK workers and taxpayers would lose out from the move.
General election 2017: Tories to pledge energy bill cap
A cap on household energy bills is set to be included in the Conservative manifesto, a cabinet minister has said. According to the Sunday Times the plans could cut gas and electricity costs by £100 a year for 17 million families. Work and Pensions Secretary Damian Green told ITV people felt "taken advantage of" by energy firms. Labour said the plan should be taken with "a pinch of salt", while price comparison company uSwitch said it would "do more harm than good".
Easyjet forced couple off overbooked flight - BBC News
Two Easyjet passengers were removed from an overbooked flight and not offered compensation a day after a United Airlines passenger was dragged off a plane in the US. The British couple were due to fly from Luton Airport to Catania in Sicily on Monday last week. After boarding the aircraft they were asked to leave by staff because the plane had been overbooked. Easyjet has apologised and blamed human error for the situation.
Why does the United States not have contactless cards?
Contactless cards and payments have made life in countries like Australia and the United Kingdom easier – the benefits for customers are obvious. But why has the United States been lagging behind for so long? Stats in countries outside the U.S. show how miserably the U.S. lags when it comes to frictionless and contactless payments. Take Australia for example, the country is tap happy! Virtually every Aussie knows they have a card that allows them to quickly tap and pay.
Kraft Heinz drops Unilever takeover bid
Kraft Heinz has abandoned its offer to buy Unilever, its Anglo-Dutch rival. The Marmite maker rejected the US food giant's bid on Friday, saying it saw "no merit, either financial or strategic" in Kraft's offer, worth about $143bn (£115bn). "Unilever and Kraft Heinz hold each other in high regard," the companies said in a joint statement. Shares in Unilever, which closed 13% higher on Friday, fell 7.3% in lunchtime trading in London to £35.18.
Britain 'too lazy and fat', says Trade Secretary Liam Fox - BBC News
Britain is "too lazy and too fat" with businessmen preferring "golf on a Friday afternoon" to trying to boost the country's prosperity, Liam Fox has said. The international trade secretary's remarks, at a Conservative Way Forward event, were recorded by the Times. Downing Street said he was clearly expressing private views. Richard Reed, Innocent Drinks co-founder, said Mr Fox "had never done a day's business in his life".
Britain 'too lazy and fat', says Trade Secretary Liam Fox
Image copyright Thinkstock Britain is "too lazy and too fat" with businessmen preferring "golf on a Friday afternoon" to trying to boost the country's prosperity, Liam Fox has said. The international trade secretary's remarks, at a Conservative Way Forward event, were recorded by the Times. Downing Street said he was clearly expressing private views. Richard Reed, Innocent Drinks co-founder, said Mr Fox "had never done a day's business in his life".
HSBC 'to move jobs to Paris if UK leaves single market'
By Joe Lynam Business correspondent, BBC News image copyrightGetty Images image captionThe HSBC jobs concerned are based in Canary Wharf in London HSBC would move up to 1,000 staff from London to Paris if the UK left the single market, following Britain's vote to leave the EU, the BBC understands. The staff who would be relocated would be those who already process payments made in euros for HSBC in Canary Wharf.
HSBC 'to move jobs to Paris if UK leaves single market'
By Joe Lynam Business correspondent, BBC News image copyrightGetty Images image captionThe HSBC jobs concerned are based in Canary Wharf in London HSBC would move up to 1,000 staff from London to Paris if the UK left the single market, following Britain's vote to leave the EU, the BBC understands. The staff who would be relocated would be those who already process payments made in euros for HSBC in Canary Wharf.
BHS collapse: Sir Philip Green demands 'biased' MP Frank Field resign
Sir Philip Green has demanded MP Frank Field resign as chairman of a Commons inquiry into the collapse of BHS. The retail billionaire and former BHS owner said he was "not prepared to participate" with the work and pensions committee hearing, scheduled for Wednesday, unless Mr Field stands down. In a letter, he said the MP was biased and conducting a "trial by media". Mr Field had told the Financial Times he "would laugh" if less than £600m was offered to settle BHS's pension debts.
Small energy suppliers vent online comparison fears
Independent energy companies want consumers to be able to see all available tariffs when using price comparison websites. Six smaller providers fear that only gas and electricity deals from the "Big Six" will show up in searches under proposed new Competition and Markets Authority rules. They fear that such a move would discourage competition. The CMA proposals follow the watchdog's energy market review earlier this year.
Most households have not checked credit reports, Which? warns
Most households have never checked their own credit report, research by consumer group Which? suggests. Consumers can be refused loans or credit on account of their credit score. They have been urged to regularly check what their rating is and work on improving it. In a Which? survey of more than a thousand households, 53% said they had never checked their credit score or obtained a credit report. Credit reference firms including Experian, Equifax and Noddle said the Which?
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