IN THE PAPERS
In the papers 28 November
28-11-2007
by Sylvia Leatham
Fincad to create jobs in Dublin | Vodafone and Telefonica take stakes in mobile advertising firm
The Irish Times reports that Irish education publisher HM Riverdeep's bankers look set to shelve plans to sell on USD7.15 billion in loans until sometime next year, due to the global credit crunch. It is understood that Credit Suisse, Lehman Brothers and Citigroup have encountered significant difficulties in syndicating the debt by the end of this year, as planned. The debt relates to Riverdeep's proposed USD4 billion cash and stock purchase of Harcourt, the US education division of Reed Elsevier, and a restructuring of the group.
The paper also says that Pulse Learning, one of Ireland's fastest-growing tech firms, is placed 51st in Deloitte's EMEA 'Fast 500' rankings. Read the full story as reported by ENN on Tuesday.
The same paper notes that pharmaceutical giant Merck is to create 170 new jobs in Carlow, as reported by ENN.
The paper also reports that talks are under way aimed at ending a legal dispute involving Eircom, the Royal College of Surgeons in Ireland (RCSI) and Radora, a consortium of developers. Eircom has agreed to sell the leases on a three-building complex it occupies on St Stephen's Green, Dublin, to Radora. However, the RCSI, which is the ultimate owner and landlord, has withheld its consent to the sale, an action Eircom claims is unreasonable. The case was due before the High Court on Tuesday but the parties began settlement talks in the morning.
The paper also notes that PC maker Dell has agreed to sell Google computers for searching companies' files. Dell will sell the Google Search Appliance and a cheaper device called the Google Mini to business and government customers. The deal strengthens a partnership that Google struck with Dell last year to offer machines that search corporate networks and databases.
The same paper says that online social media will have as big an impact on marketing as the printing press had on communications, an IBEC conference heard on Tuesday, as noted by ENN.
The paper also says that the next generation of in-car satellite navigation technology could see the replacement of on-screen maps with real video footage, according to research presented at a science summit on Tuesday. This would eventually enable travellers to accurately make out landmarks and other distinctive buildings, allowing them to identify the exact location of their journey rather than an approximate location. Prof Stewart Fotheringham, director of the National Centre for Geocomputation at NUI Maynooth, said that his centre was currently working on the development of next generation sat-nav systems, involving digitally recorded video footage.
The Irish Independent reports that Canadian financial software and services firm Fincad has opened its headquarters for Europe, the Middle East and Africa (EMEA) in Dublin, where it plans to create up to 30 professional jobs.
The paper also says that the Consumers' Association of Ireland is to lodge a complaint with the Competition Authority over a loophole used by mobile operator O2 that allows it to send customers unwanted "reminder" text messages. CAI spokesman Dermot Jewell said the practice appears to be an abuse of the company's dominant position in the marketplace and warrants investigation. At issue is the company's practice of sending its customers text messages reminding them that their phone bill "is due to be paid soon".
According to the Financial Times, Vodafone and Telefonica have taken stakes in a mobile phone advertising company. The two rival mobile operators have made an undisclosed investment in Amobee, which has begun rolling out its advertising serving platform for mobile search, mobile games and text messages. Both companies have begun trials of Amobee's technology -- Telefonica through its O2 subsidiary in the UK and Vodafone in Spain, Greece and the Czech Republic -- but said they had decided to take minority stakes to improve their understanding of a potential future growth source.
The Wall Street Journal reports that Verizon Wireless will soon allow mobile customers on its network to use a wide array of phones and mobile devices bought elsewhere. The change, which will take effect by the middle of next year, is a big shift for Verizon and it moves the US wireless industry a step closer to the model in much of the rest of the world, where consumers can generally purchase devices independent of carriers and then plug them into their operator of choice.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 