Sunday 23 October 2016

What it says in the papers: business pages

Published 08/09/2016 | 06:53

Here are the main business stories from this morning's papers:

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Irish Independent

* Irish IT recycling firm Wisetek is looking to further expand into the US in the coming year as it looks to keep up with the rapid growth of data centres.

The company, which was established in 2007, offers services for tech businesses including data elimination and recycling of used equipment.

* Tensions between trade unions and the DAA flared yesterday as crucial talks on a new operational and pay structure restarted, after it emerged that the airport operator paid an €18.3m dividend to the State last month but didn't tell staff.

Siptu official Greg Ennis - who was at yesterday's talks - expressed shock when the Irish Independent revealed to him that the dividend had been paid, and said it was "at best, a show of bad faith" by DAA management.

* Irish space technology start-ups have been urged to think more "enterprise, less Starship" when applying for new funding made available through Enterprise Ireland (EI) and the European Space Agency (ESA).

The ESA Space Solutions Centre Ireland, which was launched yesterday, is led by the Tyndall National Institute in Cork in partnership with Athlone Institute of Technology, Maynooth University, and Irish Maritime and Research Cluster.

The Irish Times

* The gap between pension savings and retirement income is growing substantially and retirees are being urged to save more than €1,000 a month, new research has shown.

A new study by insurer Aviva is pointing towards the growing difference between what people are saving and what they'll need in retirement.

* Professional services firm KPMG is to create 200 new positions over the next year in Ireland as well as adding 300 graduates, it has been reported.

The company added 500 to its headcount last year and is eyeing further growth this year.

* Tech giant Apple unveiled its latest smartphone in California on Wednesday, called the iPhone 7.

The new iPhone 7 has seen the end of the 3.5mm headphone jack and also brought in a water-resistant finish.

Irish Examiner

* Operating profits at the Chinese-owned firm that operates the luxury Fota Island Resort in Cork fell by 37pc to €232,845 last year.

This summer, the Fota Island Resort received a welcome increase in business with the international Irish soccer team holding a five-day camp there before jetting off to France for the Euro 2016 tournament.

* Fast food giant McDonald's is confident that its 'Big Mac' will prevail over Supermac's snack box in the firms' European brand war.

Last month, the US firm, which operates one of the best known brands in the world, lodged an objection against Supermac's revised application to use its name to sell its famous snack boxes, curry chips and other fast-food products outside Ireland in the EU.

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