Business

SWAN stocks refer to high-quality, low-risk dividend-paying stocks that assure investors to “sleep well at night,” knowing that their investments are in secure, stable companies. SWAN stocks is a term coined by Brad Thomas, a financial analyst and author specializing in real estate investment trusts and income-generating stocks.

Clerys on O’Connell Street in Dublin will continue to trade as normal today following the appointment of joint receivers Paul McCann and Michael McAteer of Grant Thornton to Clery & Co (1941) plc, Denis Guiney Ltd and Yterrbium Ltd. The receivers were appointed at the invitation of the directors of these companies, which own and operate the department store. According to a statement from the receivers, the O’Connell Street shop will continue to trade as normal and the 147 jobs in the store remain unaffected by the appointment of the receivers.  Likewise, concessionaire partners at the store and their employees will not be affected. The statement said the receivers are…

Laya Healthcare to create 100 jobs over three years Pictured: D�nal Clancy, managing director, and Lorraine Walsh, marketing manager, Laya Healthcare Laya Healthcare, formerly Quinn Healthcare , has marked its official launch today with the announcement that it plans to create 100 new jobs over the next three years. The company currently employs 343 people at its headquarters in Cork. Laya Healthcare also launched its new cardiac screening initiative, HeartBeat Today, which will allow all members, from the age of 12 upwards, free access to preventative cardiac screening. “This is a hugely exciting day for the private health insurance market and all the team at Laya Healthcare,” said D�nal Clancy, the company’s…

A Wicklow-based mother of two children with autism, Lisa Domican, has developed a new iPhone app that she hopes will help children with autism better build their communications skills. The app, which has already been successfully trialled in the Saplings School in Rathfarnham for children with autism, is called “Grace” (named after Lisa’s daughter) and is based on the principle of picture exchange communication. It was developed by Lisa in conjunction with software developer Steve Troughton-Smith, and with the support of Telefonica O2 Ireland . “As the mother of two children with autism, I know it works, I’ve seen the positive impact it has had on my own children, and therefore I can…

Mobile network Three said this morning that it has agreed with Telefonica to buy its O2 business in Ireland for €780m. An additional €70m will be paid if agreed financial targets are achieved.Three said the acquisition of O2 will take its market share to 37.5pc and bring subscriber numbers to 2 million active users. The two companies had combined revenues of €803m in 2012, €174m of which was Three’s. “Three is very pleased to have agreed to acquire O2 Ireland, a business whose strengths complement ours very well,” said Three CEO Robert Finnegan. “Since market entry in 2005, Three Ireland has grown organically through innovation, competitive pricing, and quality customer…

The development of a new hotel and residential complex in the Grand Canal Dock will create 200 construction jobs over the next year and result in 100 hospitality jobs when it opens in February 2013. By completion, more than €120m will be invested in The Marker, which will include 187 guest rooms over six floors, as well as 84 two-bedroom residential apartments, which will be available to rent or buy and will have full access to the hotel’s amenities. The hotel will be operated by Interstate Hotels & Resorts and will be a Leading Hotels of the World member. According to its owners, it’s being designed to appeal to both…

The key differentiator between ‘Lean’ processes in Japan and Europe is that in Japan there is less focus on hard automation and more on the development of people, according to Dr. Richard Keegan, a fellow of the Institute of Engineers and manager of the competitiveness department at Enterprise Ireland. Keegan had first exposed to the concept around 16 years ago in his capacity as the European advisor to the EU-Japan Centre for Industrial Co-operation when he went to a Toyota plant. “Being an engineer and having the opportunity to see the Lean best practice in real life was an eye-opener. The first thing I noticed was all the flashing lights…

Following revelations that Quinn Insurance lost more than €700m in the year prior to it being placed into administration, former head of the insurer Sean Quinn is still insisting the blame lies with the accountants currently in charge. Quinn has claimed that the business had €1.1bn in liquid assets and €464m in property when Michael McAteer and Paul McCann were appointed as administrators.

Seán Quinn Jr., the son of former Irish billionaire Séan Quinn Snr, was released from Mountjoy Prison in Dublin on August 3, 2012, after serving a three-month sentence for contempt of court. His imprisonment was related to a legal dispute between the Quinn family and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank. Justice Elizabeth Dunne said it was not a matter for the court to decide on Quinn Jnr’s release time – it was up to the prison authorities. He was released from Mountjoy shortly after the hearing, having served three months. Meanwhile, a new legal team asked the court for more time to prepare a defense for Seán Quinn Snr. Lawyers for…

Permanent TSB has agreed to buy the deposit business of Northern Rock Ireland, the company announced today. The retail banking arm of Irish Life & Permanent is to buy €650m of deposits from Northern Rock’s Irish business, which currently has 17,000 customers. This is the second major acquisition of deposits by Permanent TSB Bank in the past six months. The bank acquired €3.6bn in deposits from the Irish Nationwide Building Society in February. “This is a very significant transaction for Permanent TSB bank and is an important strategic step for the bank as deposits are critical for all Irish banks going forward,” David Guinane, chief executive of Permanent TSB, said today.…