IN THE PAPERS
In the papers 25 January
25-01-2008
by Sylvia Leatham
Nintendo doubles net profit | Murdoch backtracks on plan for free access to WSJ site
The Irish Times reports that multinationals will move services to the location where they can extract the most value, but salary levels are just one element of the cost equation, according to a senior Nortel executive. Steve Bandrowczak, Nortel's chief information officer, was speaking on a visit to the Canadian networking company's Irish operations in Galway. He said factors such as infrastructure, the tax regime, a business-friendly environment and good-quality universities were just as important as the "cost per hour of particular skills".
The paper also says that technology from FotoNation, a Galway-based provider of software and hardware to digital camera manufacturers, will be integrated into the next generation of Milbeaut chips from Fujitsu. The chips are used in compact cameras and cameraphones by several leading manufacturers. FotoNation Ireland managing director Shane Fanning said the deal was "very significant" for the company.
The Irish Independent says that a new EUR500 million research & development scheme for the private sector has been established by Enterprise Ireland and the IDA. Read the full story on ENN.
The paper also reports on a new website called www.twotitsandavote.com. The site aims to provide a forum to debate health issues relevant to women and to campaign for better services from the Health Service Executive.
According to the Financial Times, Xerox has shrugged off concerns about a slowing US economy, reporting higher sales and profits for the fourth quarter. Xerox posted a net profit of USD382 million in the three months to 31 December, a 79 percent increase on the fourth quarter of 2006, when a USD269 million restructuring charge ate into profits. Sales rose 11 percent to USD4.9 billion. Earnings per share were USD0.41, up from USD0.22 a share in the year-ago period. The copier firm also reiterated its outlook for the full year and raised its forecast for full-year cash flow.
The same paper says that News Corp's Rupert Murdoch has backtracked on plans to make access to the Wall Street Journal website free, confirming speculation that a tougher advertising climate would persuade him to retain a subscription element. Murdoch, who completed his acquisition of the US business title last month, told the World Economic Forum that he would expand and improve the freely available elements of www.wsj.com. "The really special things will still be a subscription service, and, sorry to tell you, probably more expensive," he said.
The Wall Street Journal reports that strong holiday sales of the Wii videogame console and Nintendo DS portable game player helped Nintendo nearly double its nine-month net profit and raise its sales forecasts for the third time this business year. The Japanese firm said net profit in the April to December period jumped to JPY258.9 billion (USD2.43 billion) from JPY131.9 billion a year earlier. Sales rose 85 percent to JPY1.32 trillion.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 