An Post workers in “wildcat” strike action

logoWorkers in the Dublin 6 area engaged today in a wildcat strike action. Such action is frowned upon by both the employer and employee as it outside of agreed legislation.  Workers are legally entitled to engage in a work to rule, a ban on overtime, a token stoppage and take part in an official strike once proper procedures have been followed.

Snapchat files for $25bn IPO

Snap Inc. intends to proceed with a $25bn initial public offering, making it one of the biggest in recent years. The Sipo could take place in March 2017.

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Although massive its still dwarfed by Facebooks ipo in 2012 at $81bn.

McGregor’s Budweiser adds earn reprimand.

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The Advertising Standards for Ireland have reprimanded Budweiser over its use of an image of Irish mixed-martial fighter Conor McGregor in an advertising campaign for a competition.

Its decision came after two members of the public complained that someone who is seen as a role model for children should not advertise for an alcohol company. It stated that Budweiser,which is part of the Diageo group ,contravened aspects of the code of standards for advertising and marketing.

RTE has refused to run the advertisement because of the risk of minors being influenced by the use of McGregor’s image with a popular alcoholic drinks brand.

Continued growth of Penneys

Penney’s have just opened its first Italian store close to fashion capital Milan.This comes on the back of its first US store in Boston and with plans to open a further six stores in the States.

Familar here in Ireland as Penney’s and as Primark all over Europe,it is to fashion what Ryanair is to aviation, an Irish success story spreading affordable fashion right across the continent.

Primark’s fashion follows trends. Much time is spent by the business watching celebrities and fashion designers to see what is and will be in demand.

The company has grown from 17 stores in 1975 to its present number of 304 in 10 countries (U.S. UK,Austria,Spain,GermanyPortugal,the Netherlands,France Belgium),62,000 employees and annual profits in excess of €800m.

Like many fashions houses,  production  is often a focus of examination. It outsources production to factories in countries like Bangladesh, China,India Vietnam and Pakistan where wage costs are low. The minimum wage in Bangladesh for example is $68 a month.

Bailey’s -An Irish Success Story.

Baileys Irish Cream -an Irish whiskey and cream liqueur recently celebrated its 40th birthday. It has much to celebrate.

Sales of 80m bottles in 180 different countries is an incredible achievement. Working closely with Enterprise Ireland it continues to seek out new opportunities.

The product is particularly popular in China, Latin America and the Caribbean.

Not alone that, it is also the biggest buyer of fresh Irish milk(aside from the co-ops) with purchases of 250m litres thus benefiting Irish farmers.

Glanbia continues to grow.

2015 was another year of growth for Glanbia.

The food producer had revenues in excess of

€3.6 bn and profits of €310m.

The star performer for the company was its performance nutrition division with a suite of health and fitness products like protein powder.

It was also involved in a capital expenditure programme in the U.S. building a new whey production facility in Idaho.

Sales in Brazil and Russia did not match forecasts however.

Broadband contract up for grabs.

More than ten companies have expressed an interest via the States eTender website for the rollout of high speed broadband in rural Ireland later this year. All such contract fall under EU public procurement rules.

Eir,the States largest broadband supplier, Siro, a joint venture between ESB and Vodaphone, and some French and UK companie will all attempt to win the contract.

High speed broadband is seen as vital infra-structure for the development of rural regions.

Pzifer to buy out Allergan

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.

Air Lingus no longer Irish owned.

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.

Nurses engage in ‘work to rule’.

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.