Business World

Thursday 19 October 2017

Tech world is crying out for women

TECHNOLOGY event Dublin Web Summit, launched yesterday, highlighted the number of women speakers at what has been seen in the past as a male-dominated event. "People have asked us where are all the women entrepreneurs in tech and the answer is, there simply aren't many as compared to men. But, and this is important, things are changing, and changing fast," said Web Summit founder Paddy Cosgrave. Speakers include Cindy Gallop, who headed up BBH advertising in the US and is now the founder of MakeLoveNotPorn. Soraya Dorabi was head of social media at the 'New York Times', while Shauna Mei is the founder and CEO of luxury shopping network AHAlife.com.

Cove shares fall as Shell drops buy bid

TAKEOVERS

SHARES in Irish-led Cove Energy plunged yesterday, after Shell abandoned the battle for control of the gas explorer, shocking investors and clearing the way for Thai rival PTT Exploration & Production to acquire it. Investors had anticipated a higher offer from one or both bidders, prompting hedge funds to buy into Cove stock, and an auction process had been due to start this week. PTT is offering 240p per share or about $1.9bn (€1.5bn) for Cove. Shell had bid 220p. Cove shares closed at 275.5 pence on Friday but after Shell's shock announcement yesterday they dropped 13pc on the day to stand just shy of PTT's offer at 238.5p.

Profits increase at Blue Insurances

INSURANCE

PROFITS and turnover increased at Blue Insurances last year, as the company reaped the benefit of expansion into the UK and Australia. For the year to December 31, 2011, the company said net profit surged 70pc to €1.2m on the back of turnover which climbed nearly 25pc to €16m. The company began as a travel insurance business but has since moved on to pet and "gadget" insurance. It is planning to launch home and motor policies later this year. It trades under a number of brands, including Multitrip.com, Gadgetinsurance.ie and Petinsurance.ie. Company joint managing director Ciaran Mulligan said the business had benefited from listings on so-called "aggregator" websites in Britain.

Irish Independent

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