Tuesday 25 April 2017

Ryanair says union lawsuit is a 'stunt'

AVIATION

RYANAIR says that a Belgian trade union's claims against it are false and hold "no truth". Belgium's CNE workers' union said yesterday it planned to take legal action against Ryanair for imposing work conditions on cabin crew that violate Belgian law. "Putting some people hiding behind masks and claiming that they are disgruntled Ryanair employees is a theatrical stunt without truth or credibility," the airline said in a statement. CNE's Tony Demonte said the suit would likely be filed in September.

Internet naming guru to step down

TECHNOLOGY

The head of the Internet Corporation for Assigned Names and Numbers (ICANN), the global body which manages the technical infrastructure of the web, has announced he will not seek another term. Rod Beckstrom, an American who took over as president and chief executive of ICANN in July 2009, said he would step down from the position when his term ended on July 1, 2012.

Powerflute sees profits hit €6.9m

RESULTS

POWERFLUTE, the packaging and paper group controlled by Michael Smurfit's brother Dermot, said yesterday that operating profits for the six months to June 30 surged to €6.9m on the back of revenue that increased by 15pc to €58.3m. For the corresponding period last year, Powerflute had operating profit of €200,000. The disposal of the Graphics Papers business substantially improved the group's financial position and is consistent with Powerflute's strategy to create value for shareholders through the acquisition and restructuring of underperforming paper and packaging assets.

Ex-Ulster Bank chief off to Paddy Power

APPOINTMENT

FORMER Ulster Bank chief executive Cormac McCarthy is to join the board of bookmaker Paddy Power as a non-executive director. He will replace businessman Brody Sweeney, who will step down from the board after six years on September 1. Mr McCarthy left Ulster Bank earlier this year and is currently a non-executive director of food retail and wholesale distribution business BWG.

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