Tuesday 23 January 2018

In brief

Alibaba yesterday posted a 45pc rise in quarterly revenue, and shares of the Chinese e-commerce company jumped nearly 7pc as investors cheered a smoother-than-expected transition to mobile transactions and welcomed a new chief executive.

The company said chief operating officer Daniel Zhang would become chief executive on Sunday, replacing Jonathan Lu.

Lu was chief executive for two years, a low-key leader who was frequently eclipsed by outspoken founder and executive chairman Jack Ma. Lu will remain on the board as vice chairman.

€15.6bn Nokia deal

Telecom equipment maker Alcatel-Lucent, which is set to be bought by larger rival Nokia for €15.6bn, improved profit margins in the first quarter despite a marked slowdown in its biggest market, the United States.

The firm posted a better quarter than its soon-to-be buyer Nokia and mobile market leader Ericsson, prompting some Alcatel shareholders to say the takeover deal terms should be renegotiated.

Chief executive Michel Combes dismissed the idea, saying there was no need to change the deal since both groups were sticking to their annual targets.

Viking crowdfunding

Dublin-based tourist attraction Viking Splash Tours is seeking a €100,000 crowd-funded loan through Linked Finance in order to expand outside of the domestic market.

Established in 1999, Viking Splash Tours combines authentic World War II amphibious vehicles with a Viking themed tour.

To date Viking Splash Tours has brought over half a million people around the capital city. The company is now developing a more modern fleet of amphibious vehicles with the intention of taking them into mainland Europe.

New Ryanair routes

ryanair has announced 3,000 extra flights across Europe as part of its 2015 winter schedule.

The airline will start new routes from Dublin to Copenhagen and Lubin, while it will add more flights to its Alicante, Barcelona, Berlin, Budapest, Faro, London Gatwick, Madrid, Tenerife and Warsaw routes.

Ryanair will have a total of 63 winter routes, with over 530 weekly return flights.

Irish Independent

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