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.

Paddy Power advertisement banned in Italy.

Paddy Power has recently entered the Italian online betting market where within a few months it has got 4% of the market. It aims to capture 15% inside two years.

It has caused offence however with an ad campaign which features Jesus performing football miracles-bringing fans back to the stadia,ridding the sport of match fixers and the like.

Many Italian tv stations have banned the ad, including one backed by the Vatican.

No doubt the ad has succeeded in raising the awareness of Paddy Power in Italy.

Can Ryanair capture Aer Lingus?

One of the most interesting Business stories in Ireland  is Ryanairs latest attempt to takeover Aer Lingus its main competitor here.

Ryanair presently owns 29.8% of Aer Lingus and last week tabled a €748m offer to buy the airline. This represents €1.40 per share,exactly half of their previous offer.

The Government and the Aer Lingus workers  own 40% of the shares(esot) in Aer Lingus.

Its fair to say that Aer Lingus are not enamoured with the bid as tabled, as they point to €1.3bn cash on the groups balance sheet.

Ryanair, on the other hand have “sweetened” the offer by stating they would create up to 1000 new jobs,would recognise the unions at the “new” Aer Lingus, and would give the state a guarantee on the Aer Lingus Heathrow slots.