IN THE PAPERS
In the papers 12 November
12-11-2007
by Stephen Errity
Intel launches Penryn microprocessors ¦ Riverdeep gets EUR160 million refinancing
The Irish Examiner reports that random checks on how Gardai access private data on the public will be carried out on Monday in a move to prevent Garda abuse of personal information. Garda Commissioner Noel Conroy and Data Protection Commissioner Billy Hawkes will announce the measures as part of the force's new Data Protection Code of Practice. The eight-part code is designed to mirror data protection legislation and will include plans for spot checks on how Gardai access the PULSE computer system.
The Financial Times reports that Intel is launching 13 new microprocessors, taking the PC industry to the next level of miniaturisation. The family of processors known as Penryn are based on circuits just 45 billionths of a metre wide, reduced from the 65 nanometres of the current generation. Penryn also features what Gordon Moore, Intel's co-founder, has described as one of the biggest transistor advances in 40 years.
The paper also says that Spanish telecoms firm Telefonica's nine-month net profit rose 51 percent, well ahead of market expectations, thanks to a lower-than-expected tax bill. Net profit reached EUR7.85 billion, underpinned by a strong operating performance as well as one-off gains from the sale of assets. Despite the strong results, Telefonica stuck with its full year guidance for group revenues to rise 8-10 percent, core earnings to rise 10-13 percent and operating profit to increase 19-23 percent.
According to the Wall Street Journal, the European Commission is preparing to unveil a plan this week to inject more competition into the European telecommunications industry and reduce costs for consumers. European Telecom Commissioner Viviane Reding is expected to reveal a plan that would allow national regulators to force dominant operators to break up their operations, making it easier for other companies to offer competing services over the dominant operators' networks. Reding is also expected to propose giving a Brussels-based authority oversight of the 27 national regulators.
The Sunday Independent reports that the original, unedited version of the PlayStation and Nintendo Wii computer game Manhunt 2 has been made available on illegal download websites. Irish Film Censor John Kelleher banned the game from being sold in Ireland earlier this year, citing "gross, unrelenting and gratuitous levels of violence". The ban was upheld even after the game's developer, Rockstar, proposed to tone down the level of violence.
The same paper says that Barry O'Callaghan is set to invest nearly EUR30 million of his own money into e-learning company Riverdeep. The investment forms part of a EUR160 million equity financing of the fast-growing firm, which went on a EUR5 billion acquisition splurge earlier this year. Other contributors to the refinancing include clients of Davy Private and Riverdeep's other shareholders.
The Sunday Business Post reports that the Eircom employee share ownership trust (ESOT) is considering making a triple payment to its 12,000 members in 2009. This could accelerate the wind-down of the trust, which is currently scheduled for 2014. The triple payment in one year is allowed under the terms of a deal struck with the Revenue Commissioners in 2001. The acceleration of the distribution of ESOT assets has been prompted by the ongoing moves to split Eircom into two companies.
The paper also reports that Science Foundation Ireland (SFI) is gearing up for a EUR120 million investment. In a programme to be launched Tuesday by the Minister for Enterprise, Trade and Employment Micheal Martin, the foundation will grant funding awards to centres for science, technology and engineering at third-level institutions around the country. The programme is set to establish links between the institutions and more than 40 related companies, with the aim of speeding up the commercialisation of research emanating from the centres.
The paper also says that T-Mobile has invested EUR3.5 million in Arantech, as part of a EUR4.6 million funding round at the Dublin-based software firm. T-Mobile's investment was made through its Venture Fund and existing investors in Arantech, including Trident Capital, Cross Atlantic Capital partners and entrepreneur Bill McCabe, also took part. Arantech produces 'customer experience management' software for the mobile industry and was last year named 'company of the year' by the Irish Software Association.
The same paper reports that Intune Networks accumulated losses of EUR8.6 million in the past year. This represents an increase of almost 25 percent on 2005, when the firm lost EUR6.9 million. Turnover increased slightly from EUR717,000 to EUR779,000. The company's accounts added that in 2006 it had decided to focus on developing optical switching and transport-related products for IP-based networks.
The paper also says that Dublin web traffic analysis firm Statcounter plans to rent more than 100 servers from Texas-based datacentre The Planet. The deal, agreed in September, will cost EUR340,000 annually and provides for the use of a private rack with fully redundant bandwidth and power as well as round-the-clock server monitoring, free hardware replacement and full technical support. Based in the Guinness Enterprise Centre, where it employs five staff, Statcounter provides web traffic analysis to its 1.5 million members.
The Sunday Tribune reports that RTE is being prevented from selling advertising during its internet simulcasts by copyright issues. The RTE web feed currently broadcasts a static screen stating the programme will resume shortly during TV ad breaks. A spokesperson said RTE is considering the option of selling online video advertising to replace the standard TV ads in the webcast. Sources at the broadcaster have also indicated that copyright concerns could prevent advertising on the proposed international RTE service.
The Sunday Times reports that Mike Maloney is to leave his post as chief operating officer of BT Ireland. The paper says he has been on 'gardening leave' since the middle of last month and is currently negotiating the terms of his release from the company. Maloney was seen as a prime candidate for chief executive when he joined the company in 2004 from Gateway, but earlier this year the company replaced Danny McLaughlin in the position with Chris Clark, who has been with BT for 16 years.
The same paper reports on a group of Irish entrepreneurs travelling to California's Silicon Valley next month on a fundraising drive. The trip's organisers have formed an organisation called Paddy's Valley which aims to make links between California venture capitalists and the Irish tech sector. Among those travelling with the group is chef Niall Harbison, representing the Irish food and cookery-themed social networking site lfoods.tv
The paper also says that Chinese computer maker Lenovo is considering both Ireland and Eastern Europe as potential locations for its first European manufacturing hub. Lenovo bought IBM's PC and laptop division in 2005 and has enjoyed strong growth since then. The new European manufacturing centre will create thousands of jobs for its host nation. Currently one-third of all PCs sold in Europe are manufactured in Ireland, primarily by Dell and Hewlett-Packard.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 