This Week In Business
Print’s not dead. How Hearst is using social to power-up its papers.
Analizo launches Europe's first algorithm-as-a-service, bringing robo-investing capabilities to the wealth management industry
Applegreen wins prestigious European SME Award
Mimaki Tx300P-1800 already proving a Fashionable Choice
Irish Stock Market
Applegreen wins prestigious European SME Award
Star of 2016 award won by Applegreen Applegreen, the #1 motorway service area operator in…Irish Stock Exchange Quarterly Statistics Q3 2016
Q3 2016 statistics show over 35,000 securities listed on Irish Stock Exchange markets…ISE shows growth
Irish Stock Exchange listing figures grow to over 35,000 securities Quarterly statistics…Irish Stock exchange extends to 28 companies
Dalata Hotel Group joins the ISE’s Main Securities Market Dalata Hotel Group (Dalata),…#IPOready companies graduate from ISE leadership programme
High-potential companies have graduated from #IPOready #IPOready is the Irish Stock…Quarterly Statistics - Irish Stock Exchange
Q1 2016 statistics show 34,382 securities listed on ISE markets. Main headlines: Listings…ISE The Place To Be!
Irish Stock Exchange wins No.1 slot in Great Place to Work Awards. Would you like a great…Venn Life Sciences Joins The ESM
Adding a euro quotation for investors. Venn Life Sciences, the growing Contract Research…
World Economy
Print’s not dead. How Hearst is using social to power-up its papers.
The Newspaper business is dead? Don’t tell that to Hearst. By Brett Lofgren | September…Press Release From ISE
ISE and NASDAQ OMX announce intention to bring Dual ISE/US Market Access to Irish…Sappi First-Quarter Profit Falls
Company says result is due to paper and pulp price decline. Sappi Ltd., the world’s…How global manufacturing is changing.
Ireland is changing and the savvy business has to be aware of changing global trends.3D…High Consumption Foodstuffs in DRC:
High Consumption Foodstuffs in DRC: Where Are the Surpluses and Deficits? By Dr…Xerox wins print contract for UK Government
Xerox to deliver cost efficiencies in print services to UK public sector The UK Cabinet…Disposable income drops
New figures just released show that household disposable income in Ireland fell by 0.4…Ireland’s richest 300 worth €62bn
The 300 richest people in Ireland are now worth more than €62bn. The figure is staggering…
Business & Finance
Applegreen wins prestigious European SME Award
Irish Stock Exchange Quarterly Statistics Q3 2016
ISE shows growth
Irish Stock exchange extends to 28 companies
#IPOready companies graduate from ISE leadership programme
Quarterly Statistics - Irish Stock Exchange
World Stock Market
Hans‐Ole Jochumsen re‐elected as FESE President
Euro rates fixed – but for how long?
GLOBAL STOCKS and COMMODITIES
Snapshot of Irish shares and European stocks over Christmas
Markets surge on Central Banks' intervention
U.S. Stocks Update Wednesday 23rd November 2011
Economy, Tenders & Invenstment
Prior information notice of tender.
Tender Opportunity Here at DPNlive, we are always looking for business opportunities for…Print tenders
Want to do the printing for the Houses of the Oireachtas? Below is a table of three…
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A new survey just released has reported that nearly a third of all Irish businesses have experienced some form of cybercrime in the last year.
The report which was conducted by Deloitte in conjunction with EMC found that the most common form of attack was by hacking. This was followed by the misuse of IT privilege and attacks via malware.
One interesting finding was that many companies said their own staff caused the biggest problems through activities that breached IT security protocol.
Nearly 43 per cent of companies who responded to the survey said that these attacks had caused a loss of productivity.
However, on the flip side, only 45 per cent of companies believed that cybercrime was a priority in terms of business loss although most did admit that they regularly assessed security risks within their organizations.
A further 57 per cent of companies said that they had an IT security programme that functioned adequately.
A spokesperson for Deloitte said that they believed it was critical for more organizations to give cybercrime a much higher priority status as a serious breach in security could have disastrous results.
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Acquisition will secure the business going forward.
It has been announced that the Irish management team of Celtic Media Group has purchased the business for €5.5m.
meathchronicleCommentators have said that the deal will secure the future of the group’s newspapers and its printing and publishing businesses. These include the Anglo-Celt, Meath Chronicle, Westmeath Examiner and Westmeath Independent.
The management team, which is headed by chief executive Frank Mulrennan and finance director Frank Long, were quoted as saying that they were delighted with their acquisition.
Commenting on the acquisition, Mulrennan said that Celtic Media had consistenly generated operating profits despite the recession but had suffered from a legacy of unsustainable debt. He believes that the management acquisition has addressed this burden of debt and that the group now has a financial structure that will help them face future challenges in the current business environment.
He added:
"We are dedicated to positioning our company to benefit from our exciting multi-platform digital strategy and from further consolidation in the regional media market, which we feel is inevitable."
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The Taoiseach (Irish Prime Minister) Enda Kenny said that his government was keeping an ‘open mind’ on Ryanair’s new takeover bid for the Irish national carrier, Aer Lingus. He stressed that he wouldn’t be “shoved into a fire sale” because of the country’s economic difficulties.
Ryanair offered €1.30/share for its main Irish rival on June 20th last which is its third bid since Aer Lingus was floated in 2006. The National carrier’s share price surged up to €1.11 on the news.
Ryanair has nearly a 30 per cent stake in Aer Lingus making it the largest shareholder in the company. The Irish government’s stake is 25 per cent.
In 2007 the European Union competition authorities ruled that a Ryanair-Aer Lingus merger would constitute a monopoly in Dublin.
Kenny is however in a difficult position on this latest in the ongoing saga between the two airlines. Ryanair is arguably Ireland’s most dynamic and successful business currently sitting on cash reserves of €2.7bn.
Kenny, on the other hand, took over the reins of government last year after Ireland had to negotiate a €67.5bn international bailout. Part of the deal involves selling off up to €2bn in state assets. And this is where its stake in Aer Lingus comes in to play.
Notably, while Kenny said that he would not be shoved into a fire sale, he also said that the government’s 25 per cent stake will no longer be used as a blocking tool on any potential sale.
Based on the latest bid, Aer Lingus is valued at €694 million and would in theory yield Kenny a much needed €173 million if the sale went ahead.
But the Irish government and Europe’s concern is that a sale can only go ahead if sufficient competition on routes, fares and customer service can be guaranteed.
Michael O’Leary, Ryanair’s outspoken CEO and the king of poker knows how to play his hand in any negotiation. As one experienced commentator maintains, Ryanair’s bid might be a ‘smokescreen’ to manipulate the Aer Lingus share price higher prior to a sale to another airline and thereby recover some of the millions lost since it first invested in the carrier.
A possible buyer, Etihad Airways of the United Arab Emirates purchased a three per cent stake in Aer Lingus earlier this year and also expressed an interest in the Irish government’s holding.
And there may be other ‘hidden’ contenders waiting to snap up either the governments or even Ryanair’s shares.
However, if O’Leary is indeed serious about buying Aer Lingus it would make Ryanair the dominant player in the Irish airline business but it would also give him Aer Lingus’ most valuable asset as well - the Heathrow slots – in the only major London airport Ryanair currently doesn’t use. Airlines covet slots at Heathrow, one of Europe's biggest hubs and the fear is that if O’Leary got his hands on them he would sell them off.
However, with so much opposition to any potential deal stacked against Ryanair why are they doing it now?
Ask the poker player. He knows what’s in his deck of cards!
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So the inevitable has happened. Spanish banks need a bailout. This has sent shock waves through the entire EU as Spanish Treasury Minister Cristobal Montoro admitted that Spain ‘does not have the door to the markets open’.
In layman terms it means that the country, like Ireland and Greece, cannot borrow money on the bond markets due to the cost of the current rates.
Spain is a casualty of the ‘property bubble’ which like Ireland has finally caught up on Madrid’s banks.
The country has to recapitalise its troubled banks but right now it can’t without additional finance. And here’s the dilemma! Without access to the markets, Spain has to rely on the EU to bail it out.
Although it did manage to raise some capital in the market late this week Spain’s status was reduced to one point below ‘Junk’ level!
Intense negotiations were going on this week with German and EU policymakers about how to recapitalise Madrid’s banks. An independent audit is currently in progress so no decision will be taken before that report is complete later this month.
Germany is alarmed, and one Irish TD, Labour’s Michael McNamara, is quoted as saying: ’Ireland has shouldered its share of the burden and it is now time for Germany to do the same’.
Many here now think that Germany has to step in and that if it does, some financial concessions to Ireland’s €64bn bailout as well as delivering on the austerity package have to be considered. If this does not happen then Ireland needs to think long and hard about leaving the Euro.
Germany is sticking to its guns. So has the ‘bailout’ finally become the ‘sell out’ which will effectively seal the fate of the once ‘mighty’ Euro?
One country seems to be dominating the ‘poker’ table right now – Germany. Although countries such as Ireland, Greece, Italy and Spain have been caught by their respective ‘greed’ and banking indiscipline in the past, Ireland certainly has shown its absolute willingness to shoulder the pain and take the necessary steps to stabilise its economy and the Euro.
Because of this Germany needs to give us some slack. Most commentators doubt this will happen.
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These are worrying times for up to 4,000 workers at Hewlett-Packard (HP) in Ireland. Staff are anxiously waiting to hear if their jobs will be affected by the company’s recent announcement that it will axe its worldwide workforce by 8 per cent
HP confirmed it intended to slash its wage bill by nearly 27,000 jobs globally as part of a cost restructuring programme. The timeframe involved is end 2014.
HP is quoted as saying that the job cuts, along with other measures, should save it $3.5bn (€2.75bn). It added that it would invest this money in growth areas like “cloud” storage technology.
The news came as shock to the markets as well as its Irish workforce. HP is the largest computer maker in the world with large facilities based in Leixlip, Co Kildare, and Ballybrit in Galway city.
PC sales have been hit hard primarily due to the increasingly popularity of smartphones, the iPAD and tablet computers. HP’s bottom line has been affected and once again demonstrates how multinational IT companies appear slow to react to threats from new technology developments.
HP hopes to reduce the number of redundancies by offering an early retirement programme although chief executive Meg Whitman said the cuts were needed to ensure HP’s long-term health.
There has been no word from the company yet on plans regarding the their Irish operations.
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