IN THE PAPERS
In the papers 13 February
13-02-2008
by Sylvia Leatham
American Power Corporation cuts Mayo jobs | Nokia unveils recycled handset
The Irish Times reports that Trintech Group has purchased Movaris for USD5 million, as noted by ENN on Tuesday.
The same paper reports that online gambling firm Cashcade is considering a STG100 million stock market plunge. Cashcade operates bingo and other online games for groups such as Trinity Mirror and the Daily Mail, and owns the Foxybingo and Getminted sites. Chairman Michael Buckley said the company had to look at fundraising options over the next year and said it might sell shares to an investor or consider an initial public offering.
The paper also says that executives from the mobile phone industry have reacted angrily to threats from European commissioner Viviane Reding that she would regulate the industry if roaming prices for mobile data services were not reduced to "adequate levels" by 1 July. "We don't feel that price regulation is beneficial," said Tom Phillips, head of regulatory affairs at the GSM Association. "We feel the way to influence prices is to allow for innovation. We argue that voice roaming is a competitive market, while data roaming is clearly at a different stage of its development."
The same paper notes that e-commerce firm ChanelAdvisor Corporation is to create 15 new jobs in Limerick, as reported by ENN.
The paper also says that 35 job losses have been announced at American Power Corporation, a US-owned company based in Mayo. APC makes uninterrupted power supply units for the computer industry. The company is looking to reduce its workforce by more than one-third.
The Irish Independent reports that Irish children are increasingly being exposed to risks online because of the level of personal information they disclose, according to the 'EU Kids Online' survey. Read the full story on ENN.
The paper also says that Ryanair is to revamp its website later this month. The budget airline will close its website for three days to install upgraded software. The new system will ensure that at all stages of the booking process, prices include all taxes and non-optional charges. The site will be offline from 22 February until 25 February.
The Financial Times says that EU competition regulators have raided the offices of Intel and top European electrical goods retailers, in a sign that the antitrust probe against the chip giant is expanding. European Commission officials visited Intel's Munich offices, as well as retailers Media Markt, DSG International and PPR. "The Commission has reason to believe that the companies concerned may have violated EC treaty rules on restrictive business practices and/or abuse of a dominant market position," the regulator said.
According to the Wall Street Journal, handset maker Nokia has unveiled a new phone made entirely of recycled parts. Called "Remade," the handset uses 100 percent recycled pieces, the latest move in the company's push to go green, CEO Olli-Pekka Kallasvuo told the Mobile World Congress in Barcelona. Separately, the company revealed a new attempt to capture the internet-services market, announcing a free media-sharing service and a beefed-up handset with large memory.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 