Business

Equifax CEO Richard Smith Gets Grilled by Warren

There is a major issue in the way corporations are allowed to do business after a serious breach in security. Equifax positioned themselves to give “free credit monitoring” to those affected by their data breach, but for only one year. Senator Elizabeth Warren pointed out in questioning that if just one million of the seven million people who registered for the free credit monitoring stayed on for just one more year, Equifax would earn over $200 million. LifeLock has seen its paid monitoring soar by 10x since the Equifax breach. And who does LifeLock purchase their credit monitoring services through?…

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Charlotte Business Leaders Fail to Save NBA All-Star Game

Unless you’ve been hiding out under a rock, you’ve heard about the controversial House Bill 2 in North Carolina, famously referred to “The Bathroom Bill” which has led to boycotts from entertainers and corporations, however, none with a bigger sting than the 2017 NBA All-Star Game which was scheduled to be played in Charlotte and bring in a projection $100 million in revenue. It was pulled by the NBA due to anti-LGBT discrimination. However, HB2 was not about bathroom use, that is what Governor Pat McCrory used as a smoke screen to get put into law that you could no…

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Amgen officially opens US$300m manufacturing facility in Dun Laoghaire

Biotech company Amgen’s US$300m state-of-art manufacturing facility in Dun Laoghaire was officially opened this morning. The development project included the construction of an 11,500 sq m production plant known as production module 3 (PM3), a new 5,800 sq m cold chain warehouse and major refurbishment of the other buildings that were already on site. Amgen said its new syringe filling facility adds to the capabilities that already exist at the site and positions the Dublin plant as a key location within the global organisation. Work on the project, which was supported by the Department of Jobs through IDA Ireland, began…

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Aldi opens new store in Kenmare creating 20 jobs

Discount supermarket brand Aldi has opened its seventh store in Co Kerry, in Kenmare, which will create 20 new jobs. To mark the opening Aldi provided breakfast samples and family entertainment and Radio Kerry broadcasted live from the site. Five shoppers won €100 Aldi vouchers each. This brings the total number of Aldi stores in Ireland to 116, with the first having opened in 1999. Since 2008 Aldi has almost doubled the number of Irish suppliers it works with and more than 50pc of Aldi’s supplier spend is now with Irish suppliers, producers and manufacturers. Sorcha Corcoran

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Bad debt judgments awarded by courts in first half of 2015 up 32pc to €220m

The total value of judgments awarded by the courts in the first half of 2015 for bad debts amounted to just over €220m, up 32pc on the same period last year, according to figures released today by Vision-net.ie. The average value of judgments during the period was €95,333, up 27pc on the same period in 2014 (€74,818). Some 1,692 judgments were awarded against consumers in the first half of the year, up 6pc on the same period in 2014. Consumer judgments during the first half had a total value of €202. 8m, 41pc more than in H1 2014. The average…

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Shared services centres in Ireland on course for significant expansion in Ireland – survey

Shared services centres (SSCs) are on a clear expansion path in Ireland and are set to create more jobs, according to a survey that was carried out jointly by PwC and the ACCA (the Association of Chartered Certified Accountants). However, there is room for improvement in how they operate and also in their use of technology. The findings highlighted that SSCs are becoming more popular in Ireland as multiple delivery centres, particularly for multinational companies looking to centralise not only cross-border functions such as accounting and HR, but also areas such as treasury, payroll, supply chain management, procurement and tax.…

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Positive sentiment in house building despite commencement drop of 51pc – index

The number of housing projects started in the first four months of 2015 have dropped by 51pc to 1,698 compared to the same period last year, while planning applications have gone up by 18pc to 4,602 nationally year on year, according to the National Housing Construction Index published by Linked2Plans. Danny O’Shea, managing director of Link2Plans, said this continued a trend from the start of this year. “Link2Plans considers the first half of 2014 to be very much an outlier in terms of construction activity on account of the structural changes in the market, which saw the introduction of new…

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Aer Lingus to start Cork to Düsseldorf service in 2016

Aer Lingus is to operate a new Cork to Düsseldorf service, which will operate twice weekly on Wednesday and Sunday from May 2016. Düsseldorf is located in the center of the Rhine-Ruhr region, Germany’s largest metropolitan area, with a population of about 11 million people. The news has been welcomed by Cork Airport, Tourism Ireland and Cork Chamber of Commerce. “We expect there to be strong demand for this route from both inbound and outbound passengers,” said Cork Airport managing director Niall MacCarthy. “We already have 50 routes from Cork Airport, making us the largest airport outside of Dublin, and…

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Malin takes 38pc stake in Irish medtech company 3D4Medical for US$16.4m

Malin has bought a 38pc stake in Irish medical technology company 3D4Medical for US$16.4m. The deal also gives Malin a further call option to increase its stakeholding to 50pc. 3D4Medical, which was founded in 2004 by its John Moore, CEO, and Niall Johnston, director of business development,  specialises in the development of medical, educational and health and fitness apps for healthcare professionals as well as student and patient education. The company’s apps, including its flagship offering, Essential Anatomy, have so far been downloaded over 9 million  times globally. The apps use proprietary 3D technology to show the human body.  A…

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Johnson & Johnson Vision Care investing €100m in Limerick manufacturing facility

Johnson & Johnson Vision Care, operating as Vistakon Ireland, is investing over €100m in expanding its Vistakon Ireland contact lens production facility in Limerick. The 18-month construction phase at the facility at the National Technology Park in Plassey is expected to create 200 temporary jobs. Vistakon Ireland was set up in Limerick in 1996 and is one of several Johnson & Johnson companies operating in Ireland. Between them the companies employ around 2,500 people. Headquartered in Jacksonville, Florida, Johnson & Johnson Vision Care produces the Acuvue range of soft disposable contact lenses. “Limerick was chosen for this strategically important investment…

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