IN THE PAPERS
In The Papers 2 November
02-11-2009
by Sylvia Leatham
Companies at risk from data leaks | Moffat leaves IBM amid scandal
The Irish Times reports that pretax profits at the main Irish arm of mobile operator O2 fell by 9.7 percent to EUR154.9 million last year. Accounts filed with the Companies' Office indicate that revenues at Telefonica O2 Ireland Ltd declined by 3 percent from EUR940.8 million to EUR912.3 million. According to the directors' report, the company's customer base increased by 5 percent to 1.727 million last year. The figures show the Spanish-owned company recorded a 40.5 percent increase in text messages to 2.29 billion during 2008, but average monthly minutes of use decreased by 3.6 percent to 243 million.
The Irish Examiner says that one in five Irish businesses are being undermined by the leaking of confidential information by disloyal workers. "Generally in times of economic recession when companies are faced with redundancies, there is a heightened risk of disaffected employees leaking sensitive business information," said Paul Kearns, general manager of Shred-it and Filestores, sister companies that carried out the survey. The study showed that 17 percent of businesses admitted having lost sensitive confidential information, including paper and electronic files, USB keys and laptops, in the past three years. Nearly one-third of firms said they had no policy in place for the storage and destruction of confidential files.
The Wall Street Journal reports that IBM has said Robert Moffat, a high-ranking executive facing insider-trading charges, has left the company. Moffat was IBM's senior vice president for technology and seen as a possible future chief executive until prosecutors accused him this month of leaking confidential information as part of an alleged insider-trading conspiracy that benefited hedge funds Galleon Group and New Castle Partners. Moffat has retired and "was not terminated", according to his lawyer, who said that Moffat retired "to devote his time to defending the charges that have been filed against him."
The paper also says that online auction site eBay is launching a new marketing campaign. The ad push, which features the tagline "Come to think of it, eBay," follows a two-year effort by the company to turn around its slumping marketplace. The campaign, which includes print, online and TV ads, will run through Christmas. eBay declined to say how much it was spending.
According to the Financial Times, Cable & Wireless is planning to revive its plans for a demerger of its UK and international businesses. The telco is expected to float the possibility of separate stock market listings for its UK and international businesses in the first half of next year, although C&W is unlikely to commit to a precise demerger timetable. The move follows a weak performance by the company's shares this year. Since 31 March, C&W shares have risen 4 percent, while the FTSE 100 index has increased 29 percent.
The Sunday Tribune reports that Irish consumers are the 10th biggest online spenders in the world, according to research conducted by onlineadvertising.ie, based on Google records. The report also shows that 50 percent of Irish consumers now research products online before buying them. Following a breakdown of four years of buyer-behaviour statistics, experts now predict that the busiest day for online shopping will fall on the first Sunday of December.
The same paper reports that the electronic tagging of sex offenders and other prisoners will be rolled out on a pilot basis in the coming months. Justice Minister Dermot Ahern is awaiting a final report from a working group led by the Probation Service, which examined all aspects of the practice. Minister Ahern has already said that he supports the introduction of tagging some prisoners, and has indicated that a GPS-based monitoring system is the most likely option. A tendering process will begin when the Department of Justice decides how to proceed with the process.
According to the Sunday Times, Stephen Fry has said he is going to quit Twitter after a fellow user of the popular internet site described him as "boring". An avid Twitter user, Fry has some 925,000 followers. Following a fellow twit (BrumPlum) labelling his tweets boring, Fry tweeted: "BrumPlum you've convinced me. I'm obviously not good enough. I retire from Twitter henceforward. Bye everyone." However, after a flurry of messages from Twitterers calling for him to stay on the site, Fry appeared to backtrack, saying that he'd think about it. [We'll wait with bated breath for his decision].
The Sunday Business Post reports that Sony UK has taken a multimillion-euro stake in the operation of six Sony Centre outlets in Ireland. Sony struck a deal with HiFi Corner, an Irish company that owns and operates six Sony Centres here, including those in Dundrum, Liffey Valley, Blanchardstown and Swords Pavilion shopping centres. A spokeswoman for Sony UK confirmed its investment in HiFi Corner but could not release details of the deal.
The paper also says that home-cabling firm Smarthomes posted a loss of EUR675,000 last year, compared to a profit of nearly EUR90,000 in 2007. The company, which is backed by Dragons' Den star Sean Gallagher, installs high-tech systems in homes to control all phone, cable TV, CCTV and internet services from one location.
The same paper notes that Limerick hotel software firm Avvio is predicting revenues of EUR3.5 million next year. The company, which was recently ranked fifth on the Deloitte Fast 50 Index, posted turnover of EUR2.5 million in the year ending 31 March. Brian Reeves, co-founder and chief executive, said Avvio develops a suite of software that helps hotels market themselves online. Reeves said the company would eventually expand into the US market. The company employs 40 people.
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