INM consolidates share capital
Independent News and Media (INM) 1-for-7 share consolidation came into effect yesterday. INM says its issued share capital consists of 505,468,508 ordinary shares of nominal value €0.35. "Consolidation of the group's share capital is intended to reduce share-price volatility, to narrow bid/offer spreads, to increase the marketability of the company's shares to a broader base; and, in time, to restore the share price to a level which better reflects INM's intrinsic worth," Gavin O'Reilly, INM's group chief executive, said yesterday.
New programme for entrepreneurs
BUDDING and established entrepreneurs are being invited to attend the launch of a new training programme at the DCU Ryan Academy today. The Entrepreneur Skillnet programme will be launched at their building in Citywest Business Campus. The Skillnet is suitable for entrepreneurs and small- and medium-sized companies that would like to avail of low-cost training and networking opportunities. The launch starts at 4.30pm and runs until 6.30pm.
Firm that worked on IKEA to close
AN firm of architects that worked on Dublin's Ikea building is to be wound up at a creditors' meeting. OMS Architects employed 38 people at its peak, but director John Smyth said the headcount had slipped to six in more recent times. He blamed "the economy". A sister company, OMS Green, is unaffected by the closure and will continue to trade.
Building sector still down in May
CONDITIONS in the construction sector here continued to deteriorate in May, although the rates of decline in new business and employment both slowed last month. The Ulster Bank Construction Purchasing Manager's Index stood at 40 in May -- a substantial decline from the April reading of 42.5. Any figure under 50 signals contraction. Activity in the construction sector has fallen every month since June 2007.
Selfridges named world's best store
THE department store chain, Selfridges, has been named as the world's best department store. The UK-based chain fought off competition from New York's Bloomingdales and Lane Crawford in Hong Kong to capture the prize.