IN THE PAPERS
In The Papers 25 November
25-11-2009
by Sylvia Leatham
New EU rules protect downloaders | Digicel to raise EUR330m in bond sale
The Irish Times reports that Eircom's plan to ban internet users who persistently download music illegally has been dealt a blow after the European Parliament approved a new telecoms reform package that offers greater protection for consumers. The reform package includes a provision to restrict ISPs from disconnecting so-called file-sharers. It says that a user's internet access may only be restricted "if appropriate, proportionate and necessary" and only after "a prior, fair and impartial procedure" which gives users the opportunity to state their case and respects the principles of presumption of innocence and the right to privacy. According to TJ McIntyre, a lecturer in law at UCD and the chairman of Digital Rights Ireland, the final version of the amendment makes it unclear just how much protection internet users now have if moves are made to disconnect them.
The paper also says that Caribbean mobile operator Digicel is raising EUR330 million through a bond sale to institutional investors to refinance part of the group's EUR2.5 billion debt. Digicel Ltd, one of the group's subsidiaries, has issued USD500 million (EUR334 million) in new bonds, due for repayment in 2017 at a rate of 8.5 percent. The company intends to use the money to repay USD450 million in bonds that are due for repayment in 2012.
The paper also says that Andor Technology has posted a 67 percent jump in pretax profits, as reported by ENN on Tuesday.
The Irish Independent says that Irish-owned supermarkets have ruled out putting security tags on meat after British-based chains introduced the measure here in a bid to clamp down on shoplifting. Superquinn and SuperValu said they had "no plans" to follow moves by Tesco and Marks and Spencer to bring in the tags. M&S has so far implemented the measures in its three Dublin stores and Tesco has put them into five outlets. A spokeswoman for M&S said the company would "absolutely" be looking to put the tagging system in all of their 20 stores. Smaller stores such as Spar and Centra are not expected to introduce the tags on food either, despite estimates that they stand to lose around EUR40 million to theft over the Christmas period.
The Irish Examiner reports that future theologians can earn their college qualifications with tutorials from staff at Notre Dame university in the US as part of an online course. The world-famous college in Indiana has teamed up with Mary Immaculate College (MIC) as part of the Limerick institution's first accredited online theology course. As well as internet lectures by MIC staff, students will take a monthly live tutorial from staff at Notre Dame.
In other theological news, the paper says that thousands of disillusioned Catholics have used an Irish website to cut their ties with the Church. The website Countmeout.ie, which went online in mid-July, allows people to download all the necessary documentation to leave the Roman Catholic Church. Latest figures from the site show that more than 3,300 people have downloaded a declaration of defection.
The paper also says that calls have been made for a complete rollout of a nationwide flood alert system after an independent website appeared to indicate that the flooding crisis in Cork city could be easily predicted. Fine Gael environment spokesman Phil Hogan said it was essential that a "badly needed" national system was implemented to warn people in danger of a flood crisis. He was speaking after the website Corkfloodwatch.com appeared to detail the exact levels floodwaters were due to rise to over the past week across Cork city and county. The site is run by the National Centre for Sensor Research, the Tyndall National Institute, IDS Monitoring, and the South Western River Basin District.
The paper also reports that a new Irish business advisory blog from Firstrecovery.ie promises to help ailing firms turn their fortunes around in record time. Read more on this story on ENN.
The Wall Street Journal reports that Microsoft's chief financial officer, Chris Liddell, plans to leave the software giant by the end of the year to look for a new job. Liddell will be succeeded by Peter Klein, the chief financial officer of Microsoft's business division. Liddell informed Microsoft of his decision to resign last Thursday, according to a filing with the US Securities and Exchange Commission. He wants to expand his career beyond the duties of a CFO and plans to explore job possibilities in private equity and other areas, according to a Microsoft spokesman.
The paper also says that the Internet Archive and more than 20 web firms are banding together to preserve the historical records of the abbreviated internet addresses that appear on services such as Twitter. Companies like Bit.ly and TinyURL allow consumers to convert a lengthy web address into a shortened one. Since most link-shortening services are run by unprofitable start-ups, archivists and internet users worry that if one goes out of business, its links would stop directing users to the correct, longer web address. Many of these companies are participating in an archiving project known as 301Works, where they will periodically record the short addresses they generate, along with the original sites they point to. The Internet Archive will store the information privately. If a provider closes or ends its service, the Internet Archive will give 301Works control of the site so that it can support continued operation of the shortened links. Consumers will also be able to enter shortened links to see the full versions of them.
According to the Financial Times, Facebook has introduced a dual-class stock structure, the clearest sign yet that the social networking site is preparing to eventually launch a public offering. In doing so, Mark Zuckerberg, the company's chief executive, looks to be solidifying his long-term grip on the site he founded five years ago. Dual-class stock structures are controversial because they give certain shareholders much stronger voting rights than others. Google adopted this practice when it went public in 2004, granting class-B shares to co-founders Larry Page and Sergey Brin, and chief executive Eric Schmidt. Google's class-B shares held ten times the voting rights as its class-A shares, an arrangement mimicked by Facebook.
Separately, the paper says that Facebook has become involved in a dispute over advertising practices after some of its users claimed they received unauthorised charges to their credit cards while playing games on the social networking site. A class-action lawsuit filed last week accuses Facebook and Zynga, a social gaming company, of illegally charging users millions of dollars by getting them to sign up for recurring payments without their knowledge. The suit was filed by Sacramento law firm Kershaw Cutter and Ratinoff on behalf of Facebook users and accuses Zynga and Facebook of unfair competition and unjust enrichment.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 