ESB expands into UK

The ESB’s new power station in Southampton,which opened yesterday, is the largest electricity generator built in the UK in the last five years and will supply one million people.

By 2020 the UK and Irish electricity markets will be one. Two more interconnectors need to be built. Britain is facing into having to replace many of its nuclear plants so the ESB have an eye on possible future opportunities.

It does not intend selling directly(retail) to the public,rather on to other electricity suppliers on a contract basis.

Apple launch IPad

Apple seeking to change the publishing business in the same way the IPod transformed the music industry today unveiled a tablet computer-the IPad.

The product is expected to challenge strongly the market leaders in the e-reader sector and intends opening up an e-reader store. Deals have been forged with many of the worlds main publishers to offer electronic books on the IPad.

The device will run the more than 140,000 apps already available on the IPhone and ITouch.

More than 60million Apple shares changed hands today,with the share price increasing by almost $2. The expected selling price is lower than what was expected and as a result massive sales are predicted.

Apple relies on sales of computers for 25% of sales,the IPhone for 33% and the IPod for 22%.

It has sold 250million IPods.(though IPod sales are now in decline.)

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Enterprise Ireland supports Carraig Donn

State company,Enterprise Ireland has recently provided support to local firm Carraig Donn  from its growth fund, to aid the firm’s expansion plans.

The firm was established in 1981 and is Irelands largest indigenious knitwear manufacturer. It sells in the domestic and in a number of foreign markets.

In September 2009  a 24-hour sustained TV sales drive on US shopping channel QVC resulted in $1.4m in sales.

Cadbury Takeover-almost a done deal!

We have followed the proposed takeover of Cadbury’s with alot of interest.  The deal looks like coming to an end as Kraft’s latest offer of £11.9 bn has been agreed with the Cadbury board. Cadbury’s chairman says “the offer represents good value for Cadbury shareholders.” The offer is £8.40 per share.

Cadbury’s employ 45,000 people worlwide including 5,600 in the UK and Ireland.

Still, many Cadbury shareholders may vote to reject the offer. Some view this as a hostile takeover by a company who may asset strip Cadbury’s in order to finance the deal. Unions fear redundancies. It’s still not too late for a counter bid, with Hersey said to be monitoring the situation.

“There’s many a slip between cup and lip!”

Kraft biggest shareholder is Warren Buffet.

Branson buys a bank.

Entrepreneur extraordinaire Sir Richard Branson has recently purchased Church House Trust,which has 3000 customers but no branches for £12.3m. The acquired banking licence will allow for the creation of Virgin Bank and paves the way for it to offer mortgages and current accounts in the UK later in the year.

Iceland to have a referendum on whether to repay UK savers.

The President of Iceland has moved against Icelandic parliament in refusing a deal that would see the repayment of €3.9bn to UK and Dutch savers in a failed Icelandic bank. This is creating diplomatic tension between the countries involved. President Olafur Ragnar Grimmson was reacting to a petition signed by thousands of Icelanders to refuse payment. The presidents move was a blow to Prime Minister Joanna Sigurdardottir’s government who backed the deal.

The matter will be decided by referendum on February 20th.