IN THE PAPERS
In The Papers 6 September
06-09-2010
by Sylvia Leatham
Oracle may hire Hurd in top role | Ireland praised in global software study
The Irish Times reports that Foxconn Technology has cut its long-term growth target for the Taiwanese electronics manufacturer by half as demand for iPhones and iPads fails to offset slowing computer sales. Group chairman Terry Gou is to tell managers that he is lowering Foxconn's annual sales growth target to 15 percent, down from 30 percent. "How many companies have grown this big and still grow 30 percent?" he said. "Fifteen percent is also big."
The Irish Examiner reports that Minister for Trade and Commerce Billy Kelleher is leading 30 Irish firms on a week-long trade mission to Russia. The firms involved specialise in a range of services including engineering, construction, food and drink, education and business services. Half of the companies are involved in the ICT and services sectors. Exports to Russia from Ireland grew over 66 percent in the first five months of 2010.
According to the Financial Times, the board of software firm Oracle is to meet within days to vote on a deal to bring in ousted HP chief Mark Hurd in a top role. Hurd is unlikely to win the title of chief executive, which has been held since 1977 by Larry Ellison. But almost any position would represent a coup for Hurd after HP's board forced him to quit the company he had led for five years. The upcoming new hire could revitalise Oracle's efforts to compete with HP, IBM and others in hardware sales.
The paper also notes that Sir John Bond is preparing to step down as Vodafone's chairman, with the UK group hoping to appoint a successor by next year's annual meeting. Bond's impending departure follows renewed shareholder unrest about Vodafone's strategy and acquisitions. Investor criticism has focused on Bond after shareholders led by the Ontario Teachers' Pension Plan failed to remove him at Vodafone's annual meeting in July. A source said Vodafone's decision to start looking for a new chairman was made before the Ontario Teachers' intervention, but added that the investor criticism had brought "a bit of urgency" to the move.
The paper also says that Europe's biggest countries lag behind the US in providing a competitive environment for software companies, according to a new study. The report, by Germany's Fraunhofer Institute, also ranks Germany, the UK and France below some of their smaller, but more focused, neighbours. For example, Denmark and Ireland are ranked above even the US in fostering the right environment for the software sector, based on criteria such as investor friendliness, the level of research and development, and domestic demand.
The Wall Street Journal reports that the Texas attorney general's office is conducting an antitrust review of Google's core search engine business. Texas's top prosecutor is investigating allegations by several small companies that Google unfairly demoted their rankings in search results or the placement of their advertisements on the search engine. Google disputes the allegations. Google said Texas officials asked for information about the cases of Foundem.co.uk, TradeComet.com and myTriggers.com, which have each claimed separately that Google unfairly demoted their search rankings to eliminate them as competitors. A spokesman for Texas Attorney General Greg Abbott said an investigation of Google was ongoing but declined further comment.
The Sunday Tribune reports that a blog posting by Green Party Minister Ciaran Cuffe supporting the introduction of a property tax was removed at the weekend. Cuffe's comments were in direct contravention of party policy and the Programme for Government. He proposed the abolition of stamp duty and the introduction of a levy on property instead of increasing income tax. Cuffe said he removed the comments "following consultation with colleagues".
The same paper reports that moves are being made to shut down a Facebook page containing racist comments about the Travelling community in Ireland and England. The page was set up in the UK but has Irish members. Travellers' rights group Pavee Point has had other sites similar to this shut down.
The Sunday Times reports that Eircom will face opposition from its staff union on any attempts to make workers redundant on a compulsory basis. The Communications Workers Union said it would consider a cut in pay rates, expenses and overtime to achieve the EUR90 million saving the company is seeking to make over the next three years, but warned that a 1983 law gave Eircom workers the same employment rights as civil servants.
The Sunday Business Post reports that the Revenue has made changes to its online service that will allow users to make changes to returns once they have been filed. Two separate amendments can be made. The service will be open to those who use the Revenue's self-assessment income return and file online.
The same paper reports that UPC is to launch a new 100Mbps service next month. The broadband service will cost EUR80 per month and will be available initially in Dublin, Cork and Limerick before being gradually rolled out to other areas around the country.
The paper also reports that the founders of internet firms Skype, Twitter and Last.fm are among those who will speak at a conference in Dublin next month. The Founders conference will host Twitter founder Jack Dorsey, Skype founder Niklas Zennstrom and Last.fm's Michael Briedenbruecker on 29 October.
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