IN THE PAPERS
In the papers 6 November
06-11-2007
by Sylvia Leatham
Examiner appointed to iQon Technologies | Dell to acquire EqualLogic
The Irish Times reports that the High Court has appointed an examiner to iQon Technologies, a Louth-based company that makes computers and computer parts and employs 108 people. The company has registered offices in Dundalk, Co Louth, and liabilities of more than EUR7 million but is considered to have a reasonable prospect of survival provided certain conditions are met.
The paper also says that Novell is to create 40 new jobs in Dublin. Read the full story as reported by ENN on Monday.
The Irish Examiner reports that Ireland has topped a global poll on broadband subscriber growth but still lags in 22nd place out of 30 countries when it comes to broadband subscribers. A survey conducted by the Organisation for Economic Cooperation and Development (OECD) found that Ireland's broadband subscriptions per 100 inhabitants is 15.4, below the OECD average of 18.8. The study said that last year 13.1 percent of households in Ireland had broadband access, compared to 7.4 percent in 2005 -- well short of the EU25 average of 31.7 percent last year. However, Ireland did well in terms of subscriber growth, adding 6.6 subscribers per 100 inhabitants during the last year.
The paper also says that criminals across Europe netted EUR121 million in six months after exploiting a bank security loophole in some countries. Thieves are cloning or "skimming" cards in countries with tough security measures such as Ireland before using them overseas in places with lax security at cash machines. The loophole exists because cash machines overseas cannot detect fake Irish cards so ATMs are paying out from consumers' accounts in Ireland. All of Ireland's 3,300 cash machines can detect and reject fake chip-and-pin cards, unlike most ATMs in Poland, Norway, Italy and Germany.
The paper also notes that the Green Party has not updated parts of its website since the General Election that saw them get into Government a few months ago.
The Financial Times reports that PC maker Dell has announced a USD1.4 billion deal to buy EqualLogic, a company specialising in storage virtualisation. The agreed deal would be the biggest acquisition in Dell's 23-year history if approved by shareholders. In addition to EqualLogic's virtualisation technology, which greatly increases the efficiency of data storage, the deal will give Dell access to EqualLogic's relationships with more than 500 "channel partners" -- the third-party companies that design and install computer systems for corporate clients.
According to the same paper, a former head of Samsung's legal affairs team has urged prosecutors to investigate allegations that South Korea's biggest conglomerate maintained slush funds for lobbying politicians, government officials and public prosecutors. Kim Yong-chul, chief of the group's legal team for about two years until 2004, claimed each of Samsung's affiliates created billions of won of slush funds and managed them in its executives' banks accounts. Samsung has denied the allegations.
The Wall Street Journal reports that Sun Microsystems continued a comeback in its fiscal first quarter, though sales grew a bit less than Wall Street expected. The company swung to a profit in the period ended 30 September but revenue grew just 1 percent, sending Sun's shares down about 2 percent in after-hours trading.
The paper also notes that BEA Systems is to allow its largest shareholder, Carl Icahn, to view non-public information to demonstrate that a recently rebuffed buyout offer from Oracle undervalued the company. Icahn filed suit against BEA 10 days ago to force Oracle's USD6.6 billion offer to a shareholder vote. He is also planning a proxy fight to get his own slate of directors elected to BEA's board. "We are confident this information will enable him to appreciate that the USD17 per share bid from Oracle significantly undervalues BEA in a sale," said BEA chairman and chief executive Alfred Chuang.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 