Pzifer to buy out Allergan

November 23rd, 2015
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It is expected that Pzifer plc will today buy Allergan plc for $160bn. in the biggest ever buy out in the healthcare sector.

Pzifer has offered Allergan shareholders $363 a share. Its share price on Friday last was $312.

It is just a year ago (Nov. 18  2014) that Allergan was acquired by Activis plc for $66 bn.

Business

Air Lingus no longer Irish owned.

October 13th, 2015
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Air Lingus, for decades a State owned company has finally become part of IAG ( International Airlines Group). In May the Irish government agreed to sell its 25% share. Ryanair sold their 30%  at €2.55 a share in August while the remaining shareholders sold on September 2nd.

Business

Nurses engage in ‘work to rule’.

October 13th, 2015
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Nurses in a Dublin hospital are carrying out a work to rule to highlight overcrowding in the hospital. This follows on from a token stoppage by 100 members of the Irish Nurses and Midwives Association earlier in the week.

Meanwhile Iarnrod Eireann,the National Bus and Railworkers Union and SIPTU are meeting at the Workplace Relations Commission( formerly the Labour Relations Commission). The row concerns payments for past productivity by train drivers. Token stoppages are planned on October 23 and November 6.

Business

Benefits of Multinationals for Ireland.

October 9th, 2015
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Excluding the financial sector there are about 1,000 U.S. located in Ireland employing directly 100,000 people.

These companies pay €6bn in wages to Irish employees,spend €3bn on capital investment and pay €2bn in corporation tax on an annual basis.

Other contributions include vat and other taxes,indirect spending on security,cleaning,catering,transport,accountancy and many other services.

Business

N.S.A.I.

October 2nd, 2015
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Have you ever wondered when you have put 20 litres of diesel into your car,or the butchers weighing scales indicates that the steak is 1 kg that you are actually getting what you are paying for.

According to the latest report from the National Standards Authority of Ireland 1 in 5 weighing scales and 1 in 14 petrol pumps measure inaccurately.

Taxi metres perform poorly with almost 1 in 3 failing compliancy tests.

The N.S.A.I. seeks to protect the consumer through measurement accuracy and the promotion and application of standards across many industries.

Business

Social Responsibility and VW

September 27th, 2015
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Social Responsibility is where a business treats all of its stakeholders with respect and dignity. The business applies a high standard of ethical behaviour.

On Tuesday last VW whose 12 brand empire includes brands such as  Audi,Seat,Skoda,Porsche and VW said that 11 million of its cars featured software designed to deliberately cheat on air quality tests.

Up to 80,000 cars in Ireland could be affected.

This is the biggest crises in its 78 year history with billions slashed from its market valuation. Its share price has gone from a 52 week high of €132.09 to €107.30 today.

(see also post on April 2010)

Business

Chelsea -Constructive Dismissal case?

September 24th, 2015
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A constructive dismissal is a situation where the employee feels their working conditions have been made so intolerable that they feel they have no choice but to leave the workplace. It can result in litigation between the parties.

An interesting situation is developing between the Chelsea team doctor and her employer which could result in a constructive dismissal case.

Business

Paddy Power merges with Betfair

September 11th, 2015
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Irish betting company Paddy Power is merging with Uk’s Betfair to create the worlds biggest online betting group. Shares in both groups have risen as a result.

The new company will be called Paddy Power Betfair plc and the merger should be completed by early 2016.

Shareholders in Paddy Power will have 52% of the new business. Both management teams are expecting synergies as a result of the merger.

Business

Irish Beef Trade Mission to the U.S.

February 9th, 2015
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Minister Simon Coveney travels to the U.S today acompanied by members of the Irish beef industry on a trade mission. He will meet up with his counterpart in the U.S. and his delegation will meet with U.S. beef buyers and restauranters.

Ireland is the first E.U. country to have the opportunity to sell beef into the U.S. for the last 15 years. The sale of E.U. beef there was banned due to the b.s.e. crises.

Irish sellers will target the premium market of grass based beef.

Business

Aer Lingus attracting interest.

January 12th, 2015
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Over the last couple of years we have followed the fortunes of Aer Lingus. It is an interesting story as a former state company,that was privitised,is  partially owned by the workers (14%) (E.S.O.T),the state (30%) and Ryanair(25%). Indeed Ryanair has made three unsuccessful attempts to take it over.

Recently International Consolidated Airlines Group (IAG) has made two attempts at purchasing Air Lingus. Last Friday it offered €2.40 a share,€1.28 bn in total but it was rejected by Air Lingus’ board of directors. It previously offered €2.30 in mid December. Air Lingus is seen as a well run company with reserves in the bank, passenger numbers up and is the holder of prized slots into Heathrow. Hopefully if the state sells its 25.1% stake it ensures that those slots remain between Dublin,Shannon and Cork into Heathrow.

IAG owns British Airways and Iberia Airlines.

Business