Wednesday 24 January 2018

PCH buys ShopLocket

PCH has bought an online business that helps gadget designers launch their products.

The Cork-headquartered company has bought Canadian company ShopLocket, which provides a means for new companies in the technology and hardware sector to sell their products. It has a US office in San Francisco and its operational headquarters are in Szenzen, China, in addition to its global headquarters in Cork.

BANKS 'MUST CHANGE'

BANK of England governor Mark Carney said banks must change their behaviour as regulators overhaul benchmarks such as the London Interbank Offered Rate in the wake of manipulation scandals.

"Banks must recognise that only exemplary behaviour can confer social licence to global financial capitalism," he said at the annual meeting of the World Economic Forum in Davos, Switzerland. "For the system to operate with integrity, penalties for misconduct cannot be seen as a cost of doing business."

RYANAIR MOVES HQ

RYANAIR will move to its new headquarters in Swords, Co Dublin, on Monday.

The company will move 500 staff from the airport and a city-centre office to the new premises, which it bought in 2012 for about €11m. It has spent close to another €9m fitting it out. It plans to spend about €35m this year on advertising, website improvements and other travel products targeting groups and business travellers.

CALL FOR RBS PAY CUTS

DAVID Cameron said he will seek to bring down the level of pay per person at Royal Bank of Scotland Group, hardening his stance on compensation at the UK's largest state-owned lender.

He previously pledged to veto any attempt by the parent company of Ulster Bank to raise its total pay bill. "With our particular responsibility for RBS, I can tell you that I don't only want to see the level of pay and bonuses come down overall, I want to see it come down per person, per capita as well," Mr Cameron said.

ICAHN LOSES STOCK BET

BILLIONAIRE investor Karl Icahn, who made an $800m profit after selling more than half of his stake in Netflix, is losing a three-month-old wager with his son Brett over the direction of the stock.

The 77-year-old sold 2.99 million shares of Los Gatos, California-based Netflix in October after the stock rose more than fivefold in 14 months. Brett Icahn (34) argued the service was undervalued at $323.

Irish Independent

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