Thursday 23 March 2017

US newspapers see circulation fall 5pc

MEDIA

US newspaper circulation has fallen, with average daily US newspaper circulation slipping 4.99pc during the six months to the end of September compared with the same time a year ago, the Audit Bureau of Circulations (ABC) said. The decline was not as steep as during the previous reporting period.

KPMG probed over auditing work

PROBE

FINANCIAL services firm KPMG is being investigated over work it conducted as auditors to defence group BAE Systems. The Accountancy and Actuarial Discipline Board (AADB) said it would look at audits KPMG made of BAE and its subsidiaries between 1997 and 2007. KPMG said: "The firm does not believe there has been any act of misconduct."

Mercury announces managing director

APPOINTMENT

Building and engineering services company Mercury has announced that chief operating officer Michael Kennedy is to be the new managing director of the group. He will succeed Joe Morgan, who is retiring. Mercury, which has its headquarters in Sandyford in Dublin, operates in the UK, Poland, Russia and the Middle East.

Glen Dimplex in venture with GE

AGREEMENT

INDUSTRIAL giant General Electric and Glen Dimplex, the Dublin-based home heating and appliance company, have signed a joint development agreement to help accelerate the availability of smart-grid technologies for European homes. The aim is to help European consumers better manage their electricity usage and costs.

Airport authority's profits plunge 98pc

ACCOUNTS

THE MAIN construction firm controlled by the current chairman of the Shannon Airport Authority, Brian O'Connell, shed 65pc of its workforce last year as revenues and profits collapsed. According to documents just filed with the Companies Office by Brian O'Connell Ltd, the company's revenues plunged by 93pc from €25.6m to €1.6m with pre-tax profits collapsing by 98pc from €1.3m to €21,717. The firm's workforce last year reduced by 65pc from 41 to 14.

Irish Independent

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