IN THE PAPERS
In the papers 9 May
09-05-2007
by Deirdre McArdle
Andor Technology posts 16 percent increase in profits | eBay in talks to acquire StumbleUpon
The Irish Times reports that Irish e-learning firm ThirdForce has confirmed it is in talks with US-based MindLeaders.com, over the possible takeover of the US company. Read the full story on ENN.
The same paper reports that Andor Technology has posted a 16 percent increase in pre-tax earnings to STG1.1 million (EUR1.62 million) for the first half of its fiscal year. The Belfast-based group's interim results for the six months to the end of March showed it had revenues of STG10.5 million, compared to STG9.2 million in the same period in 2006.
According to the Irish Independent, Enterprise Minister Micheal Martin is keeping a close eye on the fate of the 350 Motorola staff that lost their jobs when the mobile maker said it was to close its Cork facility. Minister Martin made the comments as company sources admitted that few of the highly skilled workers have been able to find comparable jobs in their chosen field.
The paper also reports that the Brazilian government had to intervene when a man attempted to sell his wife on eBay. According to the man's advert he was trying to sell his wife because he needed the money.
Minister Seamas Brennan has announced that from Wednesday 250,000 pensioners, who qualify for the Telephone Allowance Scheme, can have their mobiles paid for rather than landlines, according to the Irish Independent.
The Wall Street Journal reports that eBay is in advanced talks to acquire StumbleUpon, a web company that helps people discover web pages that match their interests, according to people familiar with the matter. The potential price for a deal is in the range of USD75 million, these people say. One of the people said that no final agreement has been reached and the talks could fall apart. An eBay spokesman said the company doesn't comment on "rumors or speculation."
The same paper reports that videogame publisher Electronic Arts has posted a fourth-quarter net loss of USD25 million, or USD0.08 a share, compared with a net loss of USD16 million, or USD0.05 a share, a year ago. The latest quarter included USD24 million in expenses from employee stock-options. Revenue fell 4.4 percent to USD613 million, compared with USD641 million last year, despite the release of some high-profile titles.
The Financial Times says that leaked financial figures on Tuesday forced Hewlett-Packard to pre-empt its quarterly earnings announcement and disclose better-than-expected second-quarter results. HP's stock price rose 2 percent on Tuesday to USD44.68 after it said it expected to record USD25.5 billion in sales in the second quarter -- USD1 billion more than its estimate.
The same paper reports that Warner Music said it would cut 400 jobs as it announced a wider loss for the second quarter. Warner cast the job cuts as a strategic repositioning that would allow it to shift resources to faster-growing digital opportunities, and said that it expected to offset many of the losses with new hiring.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 