Friday 22 November 2019

Business Week - Lights, camera, action as UTV Ireland is finally on screen

ANCHORMAN: UTV's star signing, Pat Kenny
ANCHORMAN: UTV's star signing, Pat Kenny

Paul O'Donoghue

It has been a long time coming, but UTV's Irish channel has finally hit screens around the country.

Since its announcement in November 2013, the launch has been relentlessly hyped up, with most speculating that TV3 will bear the brunt of any loss in viewership, although managing director Michael Wilson has been vocal that RTE One is firmly in his sights.

Despite all the excitement and having star signing Pat Kenny front and centre in a well-shot documentary titled Out with the Old: In With The U, the reaction to the station's launch was mostly one of being underwhelmed. However, the launch of its news and current affairs coverage tomorrow should give a better idea of what's on offer to viewers from the new station - and how much of the €200m television advertising market it may manage to prise away from its rivals.

Former Anglo Exec lands PwC job

One of the biggest names in Anglo Irish Bank in the years leading up to the fateful bank bailout was Matt Moran, the organisation's chief financial officer.

It has now emerged that the former executive, who has also received immunity from prosecution for all matters relating to Anglo and has since given evidence on behalf of the State, has secured a job with global accounting giant PricewaterhouseCoopers.

Mr Moran will serve as the PwC Luxembourg's "corporate finance partner" where he will head up their "insurance sector".

PwC Luxembourg recently hit the he headlines after leaked documents showed how companies legally exploit the tiny country's laws to slash their tax bills.

Wetherspoon's €50m in the bar

If you notice some extra pounds on the weighing scales after a night on the town, make sure that you've taken your wallet out of your pocket before checking the final reading. Revellers in Dublin have been making some serious savings since cut-price chain Wetherspoons rolled into town, and the British chain is set to sink €50m into its operations Republic.

Wetherspoons will now open 30 new pubs over the next five years as it looks to add to its two current pubs in south Dublin in a major assault on the Irish market.

New Year pay rises on the cards?

after years of freezes and cuts, the majority of workers look set to get a pay rise for the first time since the economic crash.

A survey by of hundreds of companies by Irish business representative group IBEC found that three out of five larger businesses with more than 50 staff expect to increase wages this year, with the study suggesting that the average rise will be 2pc.

Nama took in €8.6bn in 2014

It appears to have been a successful year for everyone's favourite 'bad bank', as Nama's end of year statement showed that it generated €8.6bn in cash in 2014, €7.8bn of which was from the sale of loans and assets.

The state agency has now recovered more than half of all senior bonds to the value of €16.6bn. Nama is now two years ahead of its original senior debt redemption schedule, leading chairman Frank Daly and CEO Brendan McDonagh to proclaim that 2014 was a "tremendous year in terms of cashflow generation and accelerated debt paydown".

Sunday Indo Business

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