Journalists

Irish fantasy sports company enters partnership with Formula 1 

Irish fantasy sports company PlayON has entered a strategic partnership with Formula 1.

Availability of seed potatoes impact revenue at Donegal Investment Group 

Donegal Investment Group, formerly Donegal Creameries, has seen its revenue decrease by €2.2m to €44.2m in the six months to February 28.

Increased stamp price pays off as revenue returns to 2008 levels at An Post 

An Post has announced a turned around in its financials in 2017, reporting a profit of €8.4m for the year, from a loss of €12.4m in 2016.

Aryzta announce new European CEO as Dermot Murphy steps down 

The chief executive at the European arm of embattled food company Aryzta is to step down.

Danone reports 'strong' performance in China 

Shares in food group Danone rose by over 2pc yesterday in Paris to €67.40 after the company reported sales of €6bn in the first quarter of 2018, a 10.8pc increase year-on-year on a reported basis.

Irish-owned businesses account for one-third of €4.6bn R&D spending 

Domestic firms spent 36pc of the €4.6bn invested into innovation here in 2016, with multinationals responsible for the balance.

WeWork seals Dublin Landings deal 

New York-based WeWork, which is valued at around $20bn (€16bn), is to lease almost 10,000 sq m of commercial office space in the Dublin Landings development located in the city's docklands.

Smurfit Jr's GAN extends iGaming deal with Paddy Power Betfair 

GAN, the gaming software company headed up by Dermot Smurfit Jr, has extended its iGaming deal with Paddy Power Betfair in New Jersey.

Mobile payments drive ecommerce explosion in China's economy 

While there may be fears of a global trade war between the US and China, with tariffs on goods being imposed by both sides in the dispute, the latter is continuing to develop its share of the global ecommerce market at pace.

Smurfit's gambling software firm GAN signs Italian deal 

GAN, the gaming software company headed up by Dermot Smurfit Jr, has signed a multi-year agreement with Goldbet, an Italian internet sports betting and casino gaming operator in Italy's regulated market.

Johnston Press reports earnings of £40m 'in line with expectations' 

Johnston Press, which brands includes Belfast News, the Derry Journal, and the i, has reported adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of £40m (€46m) for the year ending 30 December.

Breedon to acquire Northern Ireland building materials group Lagan 

The UK's Breedon Group has confirmed that it is to buy Northern Ireland building materials group Lagan for £455m (€527m) on a cash- and debt-free basis.

'Unseasonably warm weather' impacts on Primark sales 

Like-for-like sales at Primark – the trading name for Penneys outside of Ireland – declined by 1.5pc in the six months to 3 March, with sales impacted by "unseasonable warm" weather in October, the group said.

Dorothy Thompson to replace Aidan Heavey as chair of Tullow Oil 

Dorothy Thompson has been appointed as an independent non-executive director and chair-designate of Tullow Oil.

Macron and Merkel set for Trump talks 

A busy data week kicks off with today's Ulster Bank Construction Purchasing Managers' Index for March.

Meet the skilled mums who swapped the office - and the commute - for more flexibility and family time 

Have you ever thought of working from home, but were not sure if it was feasible?

Mum-of-two behind Irish startup Abodoo: 'Parents want flexibility in their professional life - we help' 

As the country reaches full employment, and many parents seek to achieve better work-life balance, firms are increasingly looking towards more flexible options for their staff.

Bank of Ireland takes a punt on Kennedy as chair 

Bank of Ireland has named long-time board member Patrick Kennedy as its new chairman.

Bank of Ireland appoint former Paddy Power executive as chairman 

Bank of Ireland has appointed Patrick Kennedy has its new chairman.

London Stock Exchange appoints new chief executive 

David Schwimmer, a former Goldman Sachs stalwart, has been appointed as chief executive of the London Stock Exchange.

Saint-Gobain buys Irish pharmaceutical business Micro Hydraulics 

French headquartered Saint-Gobain, which designs, manufactures and distributes key ingredients in wellbeing materials and solutions, has acquired the pharmaceutical business of Micro Hydraulics.

Supply Finance raises €4m to fund Europe expansion 

Supply Finance, a Dublin-based fintech company, has raised €4m in funding in Series A funding.

Ires Reit appoints Kavanagh to board 

Irish Residential Properties REIT (Ires Reit), Ireland's biggest private landlord, has appointed Tom Kavanagh to the board of the company.

New €55m sponsor deal for 3Arena 

Mobile phone company 3 Ireland is extending its sponsorship of the 3Arena in Dublin's Docklands.

Dublin-based fintech company raises €4m in funding 

Supply Finance, a Dublin-based fintech company, has raised €4m in funding in Series A funding.

Ires Reit appoint Tom Kavanagh as non-executive director 

Irish Residential Properties REIT (Ires Reit) has appointed Tom Kavanagh to the board of the company as an independent non-executive director with effect from 1 June.

Family-owned Mash Direct land major deal with UK supermarket chain 

County Down based Mash Direct has landed a new deal to supply one of the UK’s biggest supermarket chains, Waitrose, with their convenient vegetable side dishes.

Three Ireland continues 3Arena sponsorship with €55m investment 

Three Ireland is extending its sponsorship of 3Arena in Dublin’s Docklands.

Interview: Energy boss turning up the heat on traditional fuels as bio era arrives 

Gino Vansteenhuyse has been chosen as the man to lead Calor Gas in Ireland as it begins a new era for the business in the renewable energy sector with the launch of bio liquefied petroleum gas (BioLPG).

Calor launches LPG made from renewables 

Calor has launched a bio liquefied petroleum gas (LPG) made from 100pc renewable materials and suitable for heating homes and businesses.

'This is not legitimate' - SuperValu issues warning on potential scam text message 

SuperValu has advised members of the public not to engage with a potential scam text message.

Supermac’s to create 200 jobs with the opening of three restaurants in Cork 

Irish family restaurant chain Supermac’s is to create 200 jobs in Cork with the opening of three new outlets.

Output down at Irish mining firm, but guidance maintained 

Kenmare Resources, a global producer of titanium minerals and zircon, has reported a dip in production in the first three months of 2018.

Increase in Irish sales helps Tesco profits pass £1.6bn 

Tesco reported its ninth consecutive quarter of like-for-like sales growth in the three months to February 24 as sales at the grocery giant topped £51bn (€58bn) worldwide for the year.

Fewer than a third of lost building jobs have been regained 

The construction sector has regained fewer than a third of the jobs lost during the financial and construction crisis that engulfed the country between 2007 and 2012.

Asia boom helps Hostelworld book solid results 

Online hostel-booking business Hostelworld reported a strong performance for 2017, driven by European travellers using the site to book accomodation in Asia.

AI and data protection jobs boost for regions 

Software company LiveTiles is to create up to 50 jobs at a new Sligo innovation centre, which will support the further development of its design and artificial intelligence (AI) products.

Busiest March on record at Dublin Airport despite storm disruption 

Dublin airport recorded its busiest March on record with almost 2.3 million passengers travelling through the airport despite Storm Emma disruption.

AI firm to create 50 jobs at Sligo innovation centre 

Software company LiveTiles is to create up to 50 jobs at a new Sligo innovation centre, which will support the further development of its design and artificial intelligence (AI) products.

Earnings rise to €26.4m at Hostelworld as brand bookings increase by double digits 

Online hostel booking business Hostelworld has reported adjusted Ebitda (earnings before interest, taxation, depreciation and amortisation) of €26.4m for 2017, a 13pc increase year-on-year on a constant currency basis.

Data value makes it 'new oil', says ex-Obama staffer 

DATA is "like the new oil," according to the deputy legal adviser to former US President Barack Obama.

Five target areas for the tourism sector in 2018 

Already the 2018 Tourism Ireland marketing campaign is well underway, and for the first two months of the year visitor numbers were up 8pc, according to figures from the Central Statistics Office

Spotlight: Our largest indigenous industry and what you should know about it 

As part of this month’s Independent.ie Industry Spotlight, we take a look at the key numbers in Ireland’s largest indigenous industry.

Gin sector warns on new Bill as it targets growth 

Drinks organisation the Irish Spirits Association (ISA) yesterday has launched a strategy to capitalise on the increasing popularity of gin.

Irish lessor closes $600m funding round 

Dublin-based SMBC Aviation Capital, the world's fourth-largest aircraft lessor, has closed a $600m (€489m) funding round.

Over 60 jobs to be created as Irish ad agency is taken over 

Over 60 jobs are set to be created over the next three years after Irish ad agency Strategem was taken over by Connelly Partners, an independent advertising agency based in Boston, for an undisclosed sum.

Cork is startup hotspot as number of new firms surges 

Cork startups are leading the way for new company formation - with a jump of almost 12pc in the number of firms established in the region in the first three months of 2018.

Weather weighs on services sector expansion in March 

The rate of expansion in the services sector in March eased to a four-month low, partly as a result of snow disruption at the start of the month.

Services expansion eases slightly in March due to weather disruption 

The rate of expansion in the services sector in March eased to a four-month low, partly as a result of snow disruption at the start of the month.

Exclusive 'Our Irish market is particularly buoyant...hopefully it's not 'Celtic Tiger 2 - The Revenge'' – Powerscourt Hotel manager 

Although the hotel was synonymous with the Celtic Tiger, Ian Wynne, general manager at Powerscourt, refers to the era as part of the property's history, but not "part of its future".

Warning interest rate rise will bring big risk for firms 

The expected rise in interest rates by the European Central Bank in the coming months presents a "major risk" to the viability of many businesses, the professional accountancy body has warned.

Powerscourt hotel boss warns staffing is biggest challenge for hospitality industry 

Lack of skilled staff is one of the biggest problems facing the hospitality sector, according to Ian Wynne, the general manager of the Powerscourt hotel.

Dairygold lays 'Brexit-proof' plans as profits jump 

Dairygold is pressing ahead on its "Brexit-proofing strategy", with a decision expected on planning permission for a new Jarlsberg cheese plant within weeks.

Operating profit up at Dairygold on the back of 'strong' global dairy markets 

Dairygold has announced operating profit of €32.4m for 2017, a significant increase on the €17.5m in operating profit reported in 2016.

Bulmers owner in 'advanced discussions' to buy UK independent distributor 

Bulmers owner C&C, with the support of AB InBev, is in "advanced discussions" to buy the Matthew Clark Bibendum business, the largest independent distributor to the UK on-trade drinks sector.

Traffic grows 6pc to 10 million in March at Ryanair 

Ryanair saw its passenger traffic increase to 10 million customers in March, a 6pc increase on the previous year.

Manufacturing output at 12-month low on back of Irish weather havoc 

Manufacturing output in Ireland slowed to a 12-month low in March as Storm Emma caused disruption to output and distribution.

Alkermes shares slump after watchdog blow to drug trial 

Shares in Dublin-headquartered Alkermes fell by almost 22pc to $45.23 yesterday after the US Food and Drug Administration (FDA) refused to complete a review of a new depression drug from the company.

Providence licence is extended by one year 

Providence Resources has been granted a year's extension to its Frontier Exploration licence.

Poor weather causes financial turbulence for Flybe 

UK regional carrier Flybe has said that it expects to be hit with around £4m (€4.5m) in lost revenue as a result of poor weather in February and March.

Irish oil company granted license extension for work off the south west coast of Ireland 

Irish based oil and gas exploration company Providence Resources has been granted an extension to the first phase of FEL 6/14 to 31 March 2019.

Storm Emma hits manufacturing as output slows to 12 month low in March 

Manufacturing output slowed to a 12 month low in March, as Storm Emma caused disruption to sector output and distribution.

Tribeca sets up office in Dublin 

IT support provider Tribeca Technology has opened its first office in Dublin.

SSE Airtricity acquires 40pc of Activ8 Solar Energies 

Airtricity owner SSE has acquired a 40pc share of Co Monaghan-based Activ8 Solar Energies.

Positive earnings for GAN after investment cycle 

GAN, the gaming software company headed up by Dermot Smurfit Jr, has posted earnings before interest, taxation, depreciation, and amortisation of £0.5m (€0.57m) for 2017, a turnaround on the £0.9m loss recorded in 2016.

North bucks the trend with gender pay gap in favour of women 

In the #MeToo era increasing attention is starting to be placed on the gender pay gap.

Health test firm LetsGetChecked raises €9.7m 

LetsGetChecked, a medical health testing platform that allows customers to access regulated laboratory testing and self-test from their home, has raised $12m (€9.7m) in Series A funding.

We spent an extra €2.6m on wine during Storm Emma... 

Small shops grabbed a massive 50pc of the grocery market during Storm Emma as supermarkets struggled to stay open and stay stocked during the extreme weather.

Dublin start-up LetsGetChecked raises $12m in funding 

LetsGetChecked, a medical health testing platform that allows customers to access regulated laboratory testing and self-test from their home, has raised $12m (€9.7m) in Series A funding.

Hibernia's One Windmill lane secures another tenant 

One Windmill Lane, one of a number of major Dublin office schemes that Hibernia Reit is involved in, has secured another letting.

Smurfit Kappa join UN Global Water Mandate 

Packaging giant Smurfit Kappa, which currently finds itself at the centre of a takeover bid, has joined the UN Global Compact’s Water Mandate.

Positive earnings recorded at Smurfit Jr’s firm as income increases by 30pc 

GAN, the gaming software company headed up by Dermot Smurfit Jr, has posted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of £0.5m (€0.57m) for 2017, a turnaround on the £0.9m loss recorded in 2016.

CRH shares up on $1.5bn new US bonds 

Shares in building materials giant CRH were up slightly yesterday after the company issued $1.5bn (€1.2bn) of bond debt at a lower cost than expected.

Chinese energy firm agrees Barryroe farm-out 

Providence Resources has secured backing to develop its Barryroe prospect from Chinese backers that will help the long-running effort to land oil from wells off the Irish coast.

Bord Bia launches recruitment drive in bid for export growth 

Bord Bia, the agency responsible for marketing the Irish food, drink and horticulture industry, has launched its "largest-ever recruitment drive".

Bord Bia announce 'largest ever' recruitment drive 

Bord Bia, the Irish Food Board responsible for the promotion of the Irish food, drink and horticulture industry, has launched with it refers to as its "largest ever recruitment drive."

CRH raise $1.5bn in bonds 

CRH, Ireland’s biggest company, yesterday raised two new US dollar bonds totalling $1.5bn (€1.2bn).

Paddy Power appoints chief financial officer 

Paddy Power Betfair has announced that it is to appoint Jonathan Hill as Chief Financial Officer (CFO).

Providence signs farm-out agreement for Barryroe 

Providence Resources has announced that it has signed a farm-out agreement with Chinese company APEC in respect of the Standard Exploration Licence ("SEL") 1/11 that contains the potentially huge Barryroe offshore field.

Plea to pass on Ornua milk bonus 

ORNUA'S co-op members have been called upon to pass a €15m bonus directly to farmers.

Record valuation for unicorn Intercom a rare success story 

Irish startup company Intercom has become the country's first homegrown 'unicorn', the industry term for those notoriously rare young businesses that pass the $1bn valuation early in their development.

Number of completed houses up nearly 40pc 

Almost 800 new housing units were completed in February this year, representing a 38pc increase from the same month last year, according to the latest Goodbody Housebuilding Tracker.

Number of mortgages approved rose by 5pc year-on-year 

The number of mortgages approved rose by 5pc year-on-year in February, with first-time buyers making up just over 50pc of the approvals.

Number of completed housing units up almost 40pc in February 

Almost 800 housing units were completed in February this year, representing a 38pc increase year-on-year, according to the latest Goodbody Housebuilding Tracker.

Bank of Ireland to cut up to 200 jobs 

Bank of Ireland is expected to cut as much as 15pc of its managers and executives, as CEO Francesca McDonagh aims to address costs at the bank.

Euronext completes Irish Stock Exchange acquisition 

Pan-European Euronext has completed its acquisition of the Irish Stock Exchange (ISE) after receiving regulatory approval.

Numbers in employment now just below Celtic Tiger peak 

The labour market in Ireland remains a "key source" of good news for the country, according to the latest Irish economy quarterly monitor from Investec.

More than a third of Irish electricity to be green within four years 

The share of wind and solar in total electricity generation in Ireland is expected to exceed 33pc by 2022, according to the 'Renewables 2017' report from the International Energy Agency (IEA).

Acumen Aviation to provide asset management services to CDB Aviation 

Irish aviation-leasing services company Acumen Aviation has been selected to provide asset management services to CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing.

INM inform Stock Exchange of ODCE probe 

INM, the country's largest media group and publisher of the Irish Independent and Independent.ie, has issued a statement to the Stock Exchange confirming the decision by the Office of the Director of Corporate Enforcement to seek High Court inspectors to investigate the affairs of the company.

Labour market remains a key source of good news for Ireland – Investec 

The labour market in Ireland remains a "key source" of good news for the country, according to the latest Irish economy quarterly monitor from Investec.

Smurfit rejects increased takeover proposal 

The board of packaging group Smurfit Kappa has said that it has rejected a revised proposal for the company from International Paper Company.

Brussels summit to focus on Border 

In a short week, the Irish Border is set to take centre stage today in Brussels, when representatives from the EU and the UK meet.

'As far as negatives go with owning a business, there are not too many,' meet the man behind Painted Clans 

Custom, hand-painted, contemporary family coat of arms company Painted Clans, started out in 2014 when Brendan McCarey was looking for a wedding gift for a friend.

Wallet Watch...with the woman on a mission to become Ireland’s first space explorer 

Dr. Niamh Shaw is an engineer and scientist who is on a mission to become Ireland’s first space explorer.

Profit at travel software firm Datalex up over 30pc driven by strong revenue 

Irish travel software firm Datalex has reported a profit after tax of $7.1m (€5.7m) for 2017, a 31pc increase year-on-year.

Multi-million boost for charities as workers donate cash and time 

The biggest companies in Ireland and their employees raised €28m for charities and community groups last year.

William Fry appoints new partner to Banking & Finance division 

Law firm William Fry has appointed Padraic Kinsella as partner to its Banking & Finance department, in a move to further develop this arm of the practice.

PetroNeft outlines drilling plans for 2018 

Dublin and London-listed oil and exploration company PetroNeft has announced details of its 2018 drilling programme.

Ornua targets China after export growth as CEO warns on Brexit tariff 'wipeout' 

Ornua, Ireland's largest exporter of dairy products, has said that it expects greater potential demand for its products in China to come from food services, rather than premium branded sales.

Irish companies 'positive' about overseas trade prospects 

Irish businesses say that they are optimistic about their trade outlook over the coming months, however they remain worried about Brexit.

Toronto bank subsidiary to expand in Dublin 

TD Global Finance, an Irish subsidiary of the Toronto-Dominion Bank and a part of the TD Securities business, is expanding its Irish business.

Operating profit up almost a third at Ornua as German appetite for Kerrygold increases 

Ornua, Ireland’s largest exporter of dairy products, has today announced record revenues of €2.1bn for 2017, an 18pc increase year-on-year.

Room to improve: spending on home improvements hits €1.7bn 

Irish homeowners have spent €1.7bn through the Home Renovation Incentive (HRI) Scheme since its launch in 2013.

Online grocery Ocado reports rise in revenue despite adverse weather conditions 

Online grocery Ocado has reported growth in revenue of 11.7pc year-on-year to £363.4m (€414m) for the three months to 4 March 2018.

Ryanair to partner with F1 legend Lauda to develop Austrian airline 

Ryanair has entered into an agreement with Formula One legend Niki Lauda, which will see the airline support Mr Lauda’s plan to develop and grow LaudaMotion, an Austrian airline based in Vienna.

Mincon announce new acquisition as profit soars 

Irish engineering firm Mincon has announced the acquisition of Driconeq, the holding company for the Driconeq Group of companies.