ireland.com - The Irish Times

Eircom and Setanta in digital TV consortium
TELECOMS GROUP Eircom and local television broadcasters TV3 and Setanta Sports are believed to have formed a consortium to bid for the three commercial digital terrestrial television (DTT) multiplex licences that are being offered by the Broadcasting Commission of Ireland. Ciaran Hancock , Business Affairs Correspondent, reports. p

Services sector contracts for a second month as trade falls
THE SERVICES sector, one of the economy's few remaining bright spots, has started to contract with increasing speed, writes John McManus . p

Buying a house can now beat renting
AFFORDABILITY FOR first-time buyers continues to improve as house prices fall, according to the latest edition of the EBS/DKM Affordability Index. Laura Slattery reports. p

Dell to shed more than 8,800 jobs in attempt to reduce operational costs
DELL PLANS to cut more jobs than the 8,800 it had targeted as it seeks to reduce expenses by at least $3 billion (€1.9 billion) annually by 2011, chief executive Michael Dell said yesterday. p

Other Stories

ESB chief urges State to use more electricity in transport
Irish Management Institute national conference: ESB CHIEF executive Padraig McManus yesterday urged the Government to examine ways in which various modes of transport could be powered by electricity as a means of Ireland reducing its carbon emissions and meeting its environmental obligations. p
New 'eco store' part of Tesco green strategy
SUPERMARKET GIANT Tesco plans to open its first "eco store" in Tramore, Co Waterford, in October at a cost of €12.5 million. p
Havok CEO warns on bad effect of high personal tax
THERE WERE no Government Ministers in attendance at the IMI national conference yesterday but that didn't stop David O'Meara, chief executive of Irish entertainment software group Havok, which was bought by Intel last year, from issuing a warning. p
48 US companies pledge to attend NI investment conference next month
A TOTAL of 48 US companies have so far signed up to take part in the US-NI Investment Conference in Belfast next month. p
Schering to slash jobs after cholesterol pill setback
SCHERING-PLOUGH is to cut 10 per cent of its jobs and shut plants to save $1.5 billion annually to counter losses from its cholesterol pill Vytorin. p
EU system of compensation possible by year end
EUROPEAN CONSUMERS and businesses will have greater scope to pursue claims for damages if they are the victims of anti-competitive conduct, under proposals revealed yesterday. p
Pay of CRH chief O'Mahony rises to more than €2.79m
THE REMUNERATION of CRH chief Liam O'Mahony rose last year to more than €2.79 million from €2.66 million, according to the group's annual report. p
Tullow Oil to realise £35m from sale of drilling blocks in North Sea
TULLOW OIL will realise £35 million (€44.61 million) from the sale of 10 drilling blocks in the North Sea to Venture Production, an Aberdeen-based oil and gas company. p
AGI Therapeutics in loss of €14.1m
GASTRO-INTESTINAL drugs development company AGI Therapeutics lost €14.1 million last year, but claimed progress on bringing its Rezular drug to market. p
Waste firm agrees not to use rival's computer data
ONE51 PLC and five former senior managers of Mr Binman Ltd, a large midlands waste company, have all undertaken before the High Court not to use confidential information about Mr Binman's business that was allegedly wrongly downloaded by one of the managers. p
Heineken determined to acquire Beamish & Crawford
HEINEKEN HAS reiterated its determination to take control of Cork brewer Beamish & Crawford as part of its joint takeover with Carlsberg of Beamish parent Scottish & Newcastle. p
United Drug warns on weak sterling
PHARMACEUTICAL COMPANY United Drug has warned that sterling's weakness may have an impact on profits in the second half of its fiscal year but it remains on course to deliver double-digit growth in earnings. p
Court gives builder time over Lynn
SOLICITORS FOR Galway builder Brian Cunningham, who is suing First Active over the appointment of a receiver to his building group in 2003, have been given until Tuesday to swear an affidavit saying whether missing solicitor Michael Lynn will give evidence in the trial of the action. p
Only 31% of Irish firms comply with rules
ONLY 31 per cent of companies on the Irish Stock Exchange are fully compliant with the combined code on corporate governance, accounting firm Grant Thornton claims in a new report. p
Italy vows to ensure survival of Alitalia
ITALY'S GOVERNMENT scrambled to salvage Air France-KLM's collapsed deal to buy Alitalia yesterday, promising to keep the airline flying despite a looming cash crisis. p
FBD Insurance strike called off
A PLANNED half-day strike at about 50 branches of FBD Insurance today has been averted. p
Bank stocks hit hardest as Iseq tumbles 4%
Market Report: "PRETTY HORRENDOUS" was how one Dublin trader described activity on the Dublin stock market yesterday, as Irish stocks lost almost 4 per cent of their value in trading. The Iseq lost 232.4 points to finish the day at 6,321. p
In Short
A round-up of today's other stories in brief. p

Agenda

Buyer be aware
Fears that falling house prices will leave buyers trapped by negative equity are stalling the property market, writes Laura Slattery p
Breaking away from past Troubles
Since the 1998 signing of the Belfast Agreement, the North has become both an economic basket case and a place of great hope, writes DAN KEENAN , Northern News Editor p
The high priest of deal-makers
ECONOMICS: So, what is Bertie Ahern's legacy in economic terms? In 2002 and 2007, Fianna Fáil and the PDs almost certainly benefited from the perception that their economic management skills were superior to those of any alternative government, writes Jim O'Leary . p
Taxing times
THE FRIDAY INTERVIEW: WHEN JOSEPHINE Feehily became the first female chairman of the Revenue Commissioners in the middle of last month, she recalled a comment by her teacher when she left school in Limerick in the 1970s. p
Break for the border
PLATFORM: With the benefits of the Republic's common travel area with the UK being whittled away, we should detach ourselves from it altogether and join the much bigger common travel area that already exists across Europe p
Planet Business
Compiled by Laura Slattery. p

Personal Finance

It's rock solid, honest
From pyramid selling to phishing - as long as people have had money, others try to it take it from them. CAROLINE MADDEN explores how fraudsters use new methods to con consumers p
Five ways to lose your cash
AS IF consumers don't have enough to contend with, fending off cold calls from boiler rooms and protecting their identity from cyber criminals, they must also stay on high alert for a multitude of other scams favoured by today's cunning con artists. p
Top tips
Outsmarting fraudsters. p
Risky business
CENTS & NONSENSE: Many of the big name Irish fund managers hold a good percentage of their shares in Irish stocks. Maybe they all know something we don't, writes Margaret E Ward . p
Consumer recession hitting home
SERIOUS MONEY: THE FIRST quarter ended with a whimper for equity investors as the stock market in the world's largest economy recorded its fifth consecutive monthly decline for the first time since 1990 and only the sixth time in the past half-century. Stock prices have made little headway since the late 1990s and have been trounced by gold and low-risk US Treasury bonds over the period. p
Overseas developments
CROESUS/AN INSIDER'S VIEW: Investors in the Irish market must be hoping for a less stressful second quarter. p
Q&A
Dominic Coyle answers your questions. p

Technology

Online war down to the wire
The 'dongle' modem allows m obile operators to offer wireless broadband that is challenging their fixed-line rivals, writes ANDREW PARKER p
Onwards and upwards for mobile technology
ON THE 25th anniversary of the first commercial mobile phone call, the industry gathered in Las Vegas this week for the annual CTIA Wireless Convention at a time when the pace of change in the sector continues to accelerate. p
Dell changes tack to cut costs and increase sales
Dell wants to wring more costs out the process of designing, making and distributing computers as it tries to reduce expenses by $3bn annually by 2011 p
Tech industry veterans join board of online start-up PutPlace
TWO TECHNOLOGY industry veterans have joined the board of Dublin-based online backup and publishing services start-up PutPlace, which has now raised more than €1 million in venture funding. p
Nortel's global plan sees Ireland as R&D centre
NORTEL NETWORKS laid out a global site plan this week that determines what type of work will be done where by its 12,000 research and development staff. p
Nokia launches phones to target emerging markets
NOKIA, THE world's biggest maker of mobile phones, this week unveiled four new models with cameras and e-mail access for buyers of replacement handsets in emerging markets. p
Time-travelling e-mails
NET RESULTS: A new website allows you to send yourself or anyone else an e-mail that will arrive in the future. Just be wary of the consequences, writes Karlin Lillington . p
The beat of the digital drum
INBOX: MY FIRST drum kit was bought with pocket money. I cannot tell you the hours of fun I had, pretending I was Larry Mullen jnr with some U2 tracks on headphones the size of basting dishes. Now, in my early 30s (okay, late 30s), the options for a wannabe drummer are limited, especially when considering house, children and neighbours, writes Mike Butcher. p
The best things in life are free
WIRED: The trick to Linux's success is the ingenious licence under which it is distributed, writes Danny O'Brien. p

Recruitment & Management

Sitting up and taking notice of desk design
Many people sit at a desk all day, giving little thought to their badly adjusted chair and poorly positioned PC screen, writes RHYMER RIGBY. p
Keeping workers in loop is now the law
INTERNAL COMMUNICATIONS with employees is a legal requirement for all organisations with more than 50 employees since the final phase of the Employees (Provision of Information and Consultation) Act 2006 came into force last week. p
Students' business plan has weight
IN A refreshing backlash against the size-zero culture, where super-skinny celebrities are hailed as role models, a catchy "Zero Tolerance" campaign has been mounted to combat the pressures to be waif thin and to encourage people to strive for a healthy size. p

Back Page

Power retakes the rock stage as 'Green' Fiddler
ONE MORE THING: CONCERT PROMOTER Vince Power is back in the live music business in Britain three years after selling out of the Mean Fiddler there. p
Nisa ponders move to Republic
ONE MORE THING: UK FOOD and drink wholesaler Nisa-Today's is considering expanding its activities into the Republic in a move that would add a little spice to independent retailing here. p
Crowley not resting on his mattresses
ONE MORE THING: PETER CROWLEY'S private equity group FL Partners has had a busy week. On Monday, it announced the acquisition of Tomsburg Group in Cavan for an undisclosed sum. This was its third deal in 12 months. p
Cost of Cork Airport's new terminal may soar
ONE MORE THING: PETER CASSELLS'S report this week on how Cork Airport's debt should be divvied up with the Dublin Airport Authority (DAA) in advance of separation was both confusing and illuminating. p
Special security
UNDER THE RADAR: WHEN ELECTRONICS engineer Paul Creighton started to do a few odd jobs installing security systems around his locality, he didn't reckon it would lead him to setting up his own business. p

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