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The briefcase
Here's everything you need to know about business this week
Everyone was talking about Denis O’Brien and SiteServ, broadband wars and jobs for the grads.
EVERY WEEKEND, TheJournal.ie gives its readers the chance to put their feet up and take a look back at all the goings-on from the world of business.
Once again it’s time to delve deep inside The Briefcase for the important – and sometimes less-important – financial news that has come out this working week:
People started focussing on SiteServ again. After the sideshow that was media and telecoms tycoon Denis O’Brien’s injunction against RTÉ, and the confusion over whether that extended to independent TD Catherine Murphy’s comments in the Dáil, the focus this week returned to the sale of SiteServ to the Irish billionaire. It emerged the state-owned IBRC’s write-down on the deal was even bigger than thought, at €119 million
There was some big news in broadband. Eircom announced it was extending the roll out of its fibre network to include 1.9 million homes, although it’s still lagging well behind UPC when it comes to customer numbers. Meanwhile, Vodafone and UPC’s owners Liberty Global have been in talks about some sort of tie-up
Things are looking up for this year’s graduates. Figures from GradIreland showed demand for new entrants into the job market was on the rise, as were salaries for recent recruits. Most of the available jobs were in the banking, insurance and financial services industries, although retail and sales positions had the biggest growth
Ikea will start coming to you. The flat-pack furniture giant announced it would expand its online sales network to every country in which it had stores, which means no more wandering around its warehouses – unless you particularly fancy the meatballs
A new Irish biscuit company is cooking up lots of jobs. The Drogheda-based East Coast Bakehouse wants to recruit 100 workers for its planned €15 million food production facility, which will aim to be “a new, commercially competitive local Irish source of biscuits”
The government has been painting a too-rosy budget picture. That’s according to the Fiscal Advisory Council, which was set up in 2012 to assess the state’s financial plans. Its latest report said the government would find it “very challenging” to maintain services if it went ahead with planned tax cuts and spending increases
Starbucks is sneaking the cappuccino off its menus. The coffee chain has quietly been making the move in its US outlets as the Australian-style flat white gains in prominence. But don’t worry, you can still order a frothy, chocolate-topped coffee if you want one
Panda Waste is getting into the power game. The new electricity supplier, branded Panda Power, aims to undercut its rivals and could spark a “price war” in the market. The hard bit will be convincing consumers to shop around and switch providers if they can get a better rate
And one for the road…
There’s something about roller coasters. Their ability to turn otherwise fully-functioning adults into giggling, screaming children at the first plunge.
And so it was with the crew at TheJournal.ie, and our sister title, DailyEdge.ie, as they took a big, crunchy mouthful of the new Cú Chulainn Coaster at Tayto Park.
Strap yourself in for the ride.
First published 6 June
MORE: Have a look at our business wraps from previous weeks >
