IN THE PAPERS
In the papers 25 May
25-05-2007
by Sylvia Leatham
Rigney Dolphin to create 200 jobs | BetOnSports pleads guilty to racketeering charges
The Irish Times says that Waterford-based Rigney Dolphin plans to create 200 jobs at a new EUR5 million customer support centre in the city. The company, which already employs about 900 staff at three facilities, hopes to open the new centre in early August. The jobs will be in customer service, relationship management and telemarketing. The new positions will be created over a 12-month period.
The paper also says that telecoms group Cable & Wireless has posted a 20 percent rise in annual earnings before interest, tax, depreciation and amortisation. Read the details of C&W's results as reported by ENN on Thursday.
The Irish Independent reports that CNG Travel's minor shareholders are being urged by Dolmen Stockbrokers to reject a STG9.15 million management buyout offer because it "significantly undervalues the company". The bidders -- a consortium co-led by Chief Executive PJ King and president of Tzell Barry Liben -- control about 40 percent of the stock and have already won the backing of a committee of independent CNG directors. In a note to clients, Dolmen said the offer is equivalent to only 3.4 times the company's enterprise value to earnings before interest, tax, depreciation and amortisation ratio. "The company itself stated in [a] presentation that five times EBITDA was an appropriate valuation multiple..." said Dolmen.
The paper also notes that mobile operator Three Ireland is planning to introduce specific business tariffs later this year, according to company chief executive Robert Finnegan. He said that at the end of June, Three will launch its X-series of next-generation 3G services, whereby users will pay a flat fee and be able to make Skype calls as well as use services from players like Slingbox, Orb, Yahoo, Microsoft, eBay and Google. On Wednesday Three revealed new pricing for its mobile broadband services, as noted by ENN.
According to the Financial Times, mobile phone maker Nokia has stepped up its legal battle with chipmaker Qualcomm, announcing its first patent countersuit. "Over the past 19 months, Qualcomm has filed 11 patent litigation cases against Nokia seeking damages and injunctions," said Rick Simonson, Nokia's chief financial officer. "Nokia has now filed its first counter action to address Qualcomm's unauthorised use of Nokia technology." The counter suit alleges infringement of six Nokia patents used in chipsets for 3G phones. Nokia said it was seeking damages and an injunction against Qualcomm's chipsets.
The paper also says that PC maker Dell is set to begin selling computers through Wal-Mart, confirming its move away from a traditional reliance on direct sales over the phone and internet. "This is the first step in an evolving global retail strategy," a Dell spokesman said. "Customers are telling us they want more and new ways to purchase our products. We're committed to finding new ways to reach more customers and this is one example of a new approach." Dell is struggling to get back on its feet following several quarters of sluggish sales growth and missed forecasts.
The Wall Street Journal reports that internet gambling firm BetOnSports has pleaded guilty to federal racketeering charges. The US Attorney's office has been pursuing a 22-count criminal indictment against the London-based company and its top executives since last July. The Attorney's office settled civil charges against BetOnSports in November that permanently bars the company from accepting any bets from gamblers in the US. BetOnSports founder Stephen Kaplan and Chief Executive David Carruthers remain under arrest and the company's plea deal won't end their prosecution.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 