Nothing friendly about €700m loss
A NEW survey has found that employees using social networking websites cost the economy more than €700m a year in lost revenue. The research by recruitment website IrishJobs.ie found that 3.5pc of the Irish workforce spend more than an hour a day on social networking sites while at work, equating to a loss of more than €700m in productivity a year, with small businesses likely to be hardest-hit.
Circle Oil posts $2.09m H1 profit
CIRCLE Oil, the Irish oil company listed in London and focused on the Middle East, posted a first-half profit of $2.09m (€1.6m) after a loss a year earlier. The oil explorer, which produces in Morocco and Egypt, said it plans to start drilling in Oman after completing a seismic survey there. The AIM-listed company, which raised $65m last month, said it would buy additional assets and accelerate its exploration programme.
Yahoo slides down search engine list
NEW research shows that Microsoft's Bing and other internet search services overtook Yahoo for the first time to become the number-two search engine in the US in August. Market research firm Nielsen said Microsoft's Bing, MSN and Windows Live had a 13.9pc share of US search volume in August while Yahoo had a 13.1pc share.
Tri-Nations worth $174.3m to firms
THE recently completed 2010 Tri-Nations rugby tournament contributed $174.3m (€134m) to the sport and leisure economy across the southern hemisphere, a Mastercard report has said. It also said that the addition of Argentina to the competition in 2012 would increase the value of the tournament to as much as $213.1m. The report put the combined value of the Tri-Nations and Six Nations at $800m.
Google facing up to rival challenge
SOCIAL networking giant Facebook said yesterday that Google may offer a similar service within six months as demand from Internet users increases. Google is expected to start "a fairly significant social media platform", Stephen Dolan, commercial director for Asia at Facebook, said in Hong Kong.