IN THE PAPERS
In The Papers 9 August
09-08-2010
by Sylvia Leatham
Apple iPhone exec departs | HP ousts Mark Hurd
The Irish Times reports that eBay Europe Services, a Dublin-based subsidiary of online auction firm eBay, made a pretax profit of EUR586,000 last year, down 18 percent on the previous year, according to documents filed at the Companies Office. Accounts show that turnover increased slightly to EUR25.4 million in 2009, resulting in an operating profit of EUR485,000, more than double that of 2008. However, a lower amount of investment income during the year meant the pretax profit fell short of its 2008 level. Net profit for the financial year came in at EUR320,000, down 14 percent.
The paper also says that the Government has announced an additional EUR37 million in funding for university research centres, which it said will facilitate the creation of jobs in Ireland's "smart economy". The investment, which will be spread over six years, takes the funding of the Government's competence centres programme to EUR90 million over that period. To date, the competence centres programme involves six research units across UCC's Tyndall Institute, NUI Maynooth, NUI Galway and the University of Limerick. The centres -- which focus on areas of possible commercialisation such as nanotechnology, composite materials, bioenergy, IT innovation and microelectronics -- will each receive up to EUR5 million over the next few years.
The Irish Independent reports that software-testing and quality-management consultancy Software Quality Systems (SQS) plans to increase its Irish workforce by 25 percent to more than 100 employees by September. The German firm made the announcement after hiring 15 professionals with computer skills. The company is now looking for software-quality engineers, software-testing managers, performance engineers and software-test analysts.
The paper also says that Eircom owner Singapore Technologies Telemedia (STT) has confirmed to Communications Minister Eamon Ryan that it is considering a number of refinancing options in relation to the telco's EUR3.3 billion debt pile. In a June meeting with Ryan, STT managing director Terry Clontz said refinancing options were being considered by financial advisers hired by the telco. The meeting -- minutes of which have been seen by the newspaper -- was also attended by Jerome Barrett from the Employees Share Ownership Plan.
The Irish Examiner reports that a new EUR1.4 million vessel tracking system for the Naval Service is expected to boost the surveillance of drug smuggling ships. The use of the Recognised Maritime Picture (RMP) will see patrolling naval vessels respond quicker to suspect ships approaching the Irish coastline. The set-up will bring together on one system satellite images, long range tracking technology and the already standard automatic identification systems for vessels. Once in operation, data on vessels, including their location, speed and direction, will be fed into the RMP system through land-based radar as well as satellite systems. A naval spokesman said: "It's a system of systems. It will all be collated and come under one computer display. It will help reduce our response time to a situation."
The paper also says that Dublin-based artist Graham Knuttel has issued an apology over a Facebook competition to win one of his works. The artist apologised after fans who had entered the contest were subjected to abusive messages, although he also admitted that he found many of the comments "amusing and ridiculously funny". "I'm sorry if I offended a few people Friday night but you were giving me a rough time, implying that I was fiddling the votes," he said in a message on his Facebook page.
The Wall Street Journal reports that the Apple executive in charge of the iPhone has left the company following a string of stumbles with the device, and what sources said was a falling out with Chief Executive Steve Jobs. Mark Papermaster, Apple's senior vice president for mobile devices, has left the company, an Apple spokesman said Saturday, declining to provide further details. Papermaster had joined Apple just 15 months ago from IBM. Exactly how much part the problems with the iPhone 4 played in Papermaster's exit is unclear. Several people familiar with Papermaster's situation said his departure was driven by a broader cultural incompatibility. A spokesman said Papermaster's duties will be handled by Bob Mansfield, the company's senior vice president of computer engineering.
The paper also says that Saudi Arabia's telecoms watchdog and local mobile operators have reached a preliminary agreement with BlackBerry maker Research in Motion to use local data servers, according to an official at a Saudi-based telecoms operator involved in the talks. Saudi Arabia's telecoms regulator delayed the start of a ban on the BlackBerry's instant-messaging service, giving the kingdom's mobile operators until the end of Monday to test proposed solutions. An official at a Saudi-based telecoms operator involved in the talks said the agreement involved installing a local server in the kingdom, and that "a formal deal between the parties is in the final stages of negotiations."
According to the Financial Times, corporate governance experts have backed Hewlett-Packard's decision to oust its chief executive as questions emerged about the extent of the ethical lapses that led to Mark Hurd's departure. Cathie Lesjak, the PC maker's interim chief executive, claimed on Sunday that investors and customers had been "extremely supportive" of the way HP's board had handled the matter. Although the probe that led to Friday's forced resignation was prompted by an allegation of sexual harassment, Hurd was cleared of the claim after an investigation by HP. HP said Hurd's departure was precipitated by "numerous" expense violations as well as his "close personal relationship" with Jodie Fisher, who had acted as a marketing contractor to the group. It also alleged misuse of other corporate assets.
The Sunday Independent says the sponsorship of the Irish soccer team by mobile operator Three Ireland could be worth between EUR25 million and EUR35 million in media coverage for the firm in the upcoming European Championship campaign. The deal cost Three EUR7.5 million and will run for four years.
The Sunday Tribune reports that the FAI is investigating how tickets for international matches came to be offered for sale on a website at more than face value. This is despite the fact that the games are said to be sold out. The tickets offered on Premiertickets.ie are being sold at EUR30 more than the face value. However, the tickets issued by the FAI have serial numbers that can be traced, and the organisation is asking fans who paid more for the tickets to contact them with the number.
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