Google getting involved in politics and the Lonely Plant looking at Dublin's Fair City
What it said in today's business pages:
New Google Ireland boss Ronan Harris has warned against a “mad” spending binge ahead of the elections.
In his first interview since taking the job, the head of Ireland’s most high-profile tech multinational warned that Ireland could be damaged by spending hikes. “There’s going to be mad stuff happening and it frightens me a little bit. If we find ourselves in a couple of years with our cost base having gotten out of control, it makes my job of going out and winning more growth opportunities for Ireland more difficult,” he told the Sunday Independent.
“I want to make sure that when we look at our competitiveness matrix that Ireland stays at the top of that.”
Marks & Spencer is confident overhaul of the site will lead to further improvement, according to executive Laura Wade-Gery. The retailer has made “thousands of changes” since the £150m site was launched, she added. Marks & Spencer has previously reported problems with the site which has left clothes sales flagging.
House building company Cairn Homes is putting the finishing touches to plans for an initial public offering later this month. The company owns landbanks in Killiney and Artane in Dublin as well as Navan and Galway. Cairn is backed by developer and builder Michael Stanley and financier Alan McIntosh and is getting advice from Credit Suisse and Goodbody.
Sunday Business Post
Travel book publisher Lonely Planet is looking at shifting its headquarters to Dublin. The company, which is led by former Sunday Tribune editor Noreen Hegarty, is currently based in London. Lonely Planet was bought by billionaire Brad Kelly from the BBC for $77m in 2013. Lonely Planet was founded by Belfast woman Maureen Wheeler and husband Tony and sold to the BBC in 2011.
Netflix wants 12 million customers within seven years. It took Netflix seven years to have one third of US households subscribing, Netflix CEO Reed Hastings said. Germany has 35 million broadband-connected households. Netflix also wants to make its own German-language programmes. The company has more than 20 million subscribers outside US.
Just 50 US companies are hoarding more than $1 trillion in cash. Five giant multinationals are sitting on $439bn of that sum, according to an analysis by Moody’s. The five largest hoarders are Apple, Microsoft, Google, Pfizer and Cisco. The figures show American companies are reluctant to repatriate cash because of US tax laws. Many borrow on the bond markets instead.