IN THE PAPERS
In the papers 4 February
04-02-2008
by Stephen Errity
Intel to unveil new low-power chip | Babcock & Brown touts for investors in Eircom's retail arm
The Irish Times reports that the option to lodge cases with the Small Claims Court online was taken up by almost half of all applicants in the pilot regions in the first nine months of 2007, new figures show. During the period, 46 percent of the 2,145 applications to 16 offices were dealt with through the online system. The figures also show a 28 percent rise in total claims in the pilot regions since the online option became available.
The paper also says that as many as 10,000 farmers may not get paid their EU grants this year because they are not in the electronic payment system. While the electronic financial transfer (EFT) system has worked well elsewhere in Europe, Irish farmers have been slow to come forward with account numbers into which their Single Farm Payments can be made. Now, according to Derek Deane, deputy president of the Irish Farmers' Association, the decision to make EFT compulsory will lead to a significant number of farmers not getting paid.
According to the Irish Independent, Dublin 'joyriders' are filming their exploits and posting them up on video-sharing site YouTube. Dozens of video clips showing stolen cars doing wheelspins in car parks, often around groups of teenagers, are available on the site. The Garda press office refused to comment on the YouTube website.
The Irish Examiner notes that taxpayers are continuing to pay for electronic voting, with another EUR850,000 incurred last year, despite the fact that the machines have never been used.
The Financial Times reports that UK software firm Sage said it was trading in line with expectations in the first quarter and there were signs of improvement at its underperforming US division. In the three months to the end of December 2007, performances at the firm's UK and European businesses were "good", although growth in European markets was not as strong as in 2006/7. There was strong organic revenue growth in its other markets. In the first quarter, for the most part, the US business performed in line with expectations, "with a modest improvement in organic growth".
The paper also says that John Pluthero, executive chairman of Cable & Wireless, has begun a shake-up of the telecoms group's international division by replacing two key managers. Chris Hetherington, chief executive of C&W's Americas and Caribbean operations, and Frank Mount, C&W International's chief technology officer, are leaving the company. They have been replaced with Tony Bromfield and Ken McFadyen respectively, both colleagues of Pluthero from his time as chief executive of Energis, which C&W bought in 2005.
According to the Wall Street Journal, Yahoo plans to discontinue an online music service that charged users a flat monthly fee to access a vast library of songs. In place of that service, Yahoo has cut a deal to use its online audience to promote Rhapsody, a rival subscription music service jointly owned by RealNetworks and MTV. Yahoo said it will migrate existing Yahoo Music Unlimited subscribers to Rhapsody accounts in the coming months. The financial terms of the deal were not disclosed.
The paper also says that Intel will disclose details of a forthcoming chip aimed at a new category of portable gadgets, as part of 14 papers the company is delivering at a technical conference in San Francisco. The chipmaker is trying to promote the development of products it calls MIDs, or mobile internet devices, that are between the size of a mobile phone and a laptop. Those products require extremely low power consumption in order to preserve battery life. Intel's new chip for such products, code-named Silverthorne, is expected to become available in the second quarter.
The Sunday Business Post reports that a breakdown in the relationship between Payzone boss John Nagle and venture capital firm Balderton Capital has been identified by the High Court as the primary cause of the ongoing boardroom dispute at the company. Justice Maureen Clark delivered a judgement which prevents Payzone's board from acting as if Nagle and CFO John Williamson have been dismissed. They now face an EGM at which shareholders will seek their removal.
The paper also reports that Yahoo's 450 Irish employees are facing further uncertainty about their future after Microsoft's USD44 billion bid for the firm. A few days previously, Yahoo had announced 1,000 planned layoffs after a series of poor financial results, but the company has not yet confirmed if its Irish operation in Dublin's East Point Business Park will be affected.
The same paper says that sales at data storage distributor CMS Peripherals fell 10 percent last year to EUR141 million, as the company quit several of its non-core businesses to focus on the most profitable sectors. Revenues at the company fell by 9.3 percent for the year ending 31 August 2007, while pre-tax profits remained unchanged at EUR1.08 million.
The paper also reports that Siemens is to undertake its first advertising campaign in several years. The EUR1 million push will use the tagline 'Siemens Answers' and showcase the company's solutions for healthcare, industry, energy and the environment. An RTE TV commercial on 4 February will launch the campaign.
The same paper reports on the results of a new survey which shows that the Irish public is wary of social networking websites such as Facebook or Bebo. The Edelman Trust Barometer revealed that only 6 percent of Irish respondents trusted them, compared to a European average of 14 percent. Overall, trust in the media in Ireland has risen to 43 percent from 37 percent last year, with radio and TV news trusted by 59 and 57 percent respectively. Read more on the survey on ENN.
The paper also says that Irish mobile communications device distributor Commercial Wireless has signed a deal with BT Ireland that it expects will generate six-figure revenues within the next 12 to 18 months. The partnership will allow Commercial Wireless to add voice, phone systems, multi-protocol label and switching solutions and broadband to its existing range of products and services.
The same paper reports that communications solutions firm Damovo has seen turnover and profits rise over the past two years. The company's most recent accounts show turnover rising from EUR14.5 million to EUR16.9 million in the year ending 31 January 2007, while post-tax loss declined from EUR1 million to EUR305,000. Factoring in actuarial gains in respect of a pension scheme, net profits rose from EUR505,000 to EUR1.4 million. Accumulated losses now stand at EUR3.2 million, down from EUR4.6 million the previous year.
The paper also says that Dublin-based e-learning software company InnerWorkings has raised EUR2.8 million in funding from existing investors to cover trading losses. The company reported a net loss of EUR3.4 million for the year ending 31 March 2007 and its accumulated losses now stand at EUR8.6 million.
The Sunday Tribune reports that Eircom's Australian parent company Babcock & Brown is ramping up its attempts to secure interest from investors for the firm's retail arm. Babcock & Brown's global financier Rob Topfer has been meeting with banks and international investors since Christmas to discuss investment opportunities once the division of Eircom into two companies is completed later this year. Hutchison 3G Ireland is believed to be a leading candidate to buy the Meteor mobile business.
The Sunday Times reports that ComReg chairman John Doherty has admitted that Ireland's home broadband service is at least two years behind other advanced countries and more investment is needed if the country is to catch up with the rest of the world. Doherty went on to say that such investment may not be commercially viable for private companies and would have to be considered by 'policy-makers'. He traced the roots of the problem to the days of Eircom's monopoly position in the telecoms market.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 