IN THE PAPERS
In The Papers 14 January
14-01-2010
by Sylvia Leatham
LinkedIn Ireland appoints directors | PC shipments soar in Q4
The Irish Times reports that 3G, a chain of mobile phone shops, could seek court protection from its creditors to pave the way for new investment in the business. The company last week temporarily closed the 27-store chain and is in the process of recruiting a new backer. It is understood the company may be placed in examinership, which would give it High Court protection from its creditors for three months, allowing it to restructure the business or bring in new capital. The company is in talks with potential investors.
The Irish Independent says that Dublin Airport is preparing to spend up to EUR2 million on full-body scanners. If successful, the scanners -- which cost around EUR100,000 each -- will also be rolled out to Cork and Shannon airports. The Dublin Airport Authority (DAA) is currently waiting for the green light from the Transport Department to buy the scanners. On Wednesday a tender ranging between EUR200,000 and EUR2 million was issued under a six-year framework. The tender is a preliminary contract which will allow the DAA to buy the scanners "should they be required to do so".
The paper also says that the prospect of LinkedIn setting up in Ireland has moved closer after the social networking firm appointed two of its most senior executives to the board of a new Irish-registered company. Documents recently lodged with the Companies' Office show LinkedIn chief financial officer Steve Sordello and vice president Erika Rottenberg have both been appointed directors of LinkedIn Ireland Limited. The Dublin company was registered in November.
The Irish Examiner reports that Tanaiste Mary Coughlan has admitted this year is going to be tough for science and technology students hoping to succeed in business, but insisted government support was there to help young entrepreneurs. Speaking at the BT Young Scientist and Technology Exhibition, the Tanaiste praised this year's entries and said the immediate future for students was not necessarily about being successful but about enhancing their talent.
The paper also says that Irish investors could face losses of close to EUR500 million as the Education Media & Publishing Group (EMPG), controlled by Barry O'Callaghan, faces a major restructuring of its USD7 billion-plus debt. Private investors who sank an estimated EUR240 million into the group have been informed by Davy Stockbrokers that their money has been wiped out, it is understood. It is also reckoned O'Callaghan may face losses of up to EUR250 million in the restructuring. Read more on this story on ENN.
According to the Financial Times, global PC shipments soared 22 percent in the fourth quarter of 2009, creating the biggest yearly gain in seven years. Gartner placed the overall unit growth at 22 percent from the end of 2008, while rival market researcher IDC put the gain at 15 percent. Both firms said Hewlett-Packard remained the top vendor by volume, with 20 to 21 percent of the market. Acer is in second place and Dell in third, followed by Lenovo and Toshiba. The surge in PC sales was most notable in the US, driven by lower prices, according to IDC analyst David Daoud. Read more about the global PC market in our Weekly Digest on ENN later on Thursday
The Wall Street Journal says that Hewlett-Packard and Microsoft will invest USD250 million in a partnership to more closely link their software and hardware products. HP and Microsoft said the three-year agreement will involve a range of initiatives aimed at helping businesses manage some of the issues around setting up and operating data centres. Among other things, HP and Microsoft will join forces to sell HP server hardware with networking equipment, as well as storage and Microsoft business applications such as Exchange e-mail and SQL database software.
The paper also reports that a US federal appeals court has reinstated an antitrust lawsuit against major record labels over alleged price-fixing of music downloads. In an order on Wednesday, the US Second Circuit Court of Appeals overturned a lower court's decision dismissing the case, saying an amended consolidated lawsuit in the case stated enough of a factual claim to be allowed to proceed. The three-judge panel did not rule on the merits of the claim, only saying that it was appropriate to proceed at this point. Defendants in the case include EMI, Sony, Bertelsmann, Universal and Warner.
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