Business and Leadership Ltd.

Abercrombie & Fitch will likely confirm it will move into the old Habitat building on College Green next week, according to reports today in The Irish Times. One of the most popular clothing brands amongst Ireland’s teens and college-going twenty-something’s is set to open its first ever Irish store. The US fashion retailer is famous for its preppy designs and good-looking models. Despite not having an Irish outlet and charging substantial prices for its outfits, Abercrombie & Fitch has become massively popular with the youth of Ireland. The retailer’s store on Fifth Avenue in New York often features a queue of Irish shoppers outside. The Irish Times confirms that the…

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Business and Leadership Ltd.

Budget airline Ryanair has said it will add 11 new routes to its summer Marseille schedule. The extended summer timetable will see two extra aircraft working at the airport in Marseille between April and September. The airline closed its Marseille base in January but continues to operate routes to and from the city from other bases. It has taken a case in the European Courts against the French decree that forces Ryanair’s Irish crew to pay tax and social insurance in France. Ryanair released one million €8 seats for travel in late February and March. Speaking today in Marseille, CEO Michael O’Leary said: “Ryanair is pleased to announce this expanded…

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Business and Leadership Ltd.

Aer Lingus has cancelled 20 scheduled flights today as a result of an ongoing dispute with cabin crew staff. Talks resume between the airline’s management and the worker’s trade unions at the Labour Relations Commission today. The dispute, which has now entered its third week, centres on new rosters which ask each cabin crew member to fly at least 850 hours per year. Impact, the trade union representing the workers, has said that the contracts contravene the Greenfield agreement which was signed last year. So far, about 300 staff have been taken off the airline’s payroll and disciplinary meetings have been set up for at least seven crew members. It…

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Receiver appointed to South Dublin Motors, 41 jobs lost

A receiver has been appointed to South Dublin Motors Ltd and the company has ceased trading, resulting in the loss of 41 jobs. The company was one of the largest Ford dealerships in Ireland with showrooms in Tallaght and Rathfarnham. Kieran Wallace of KPMG has been appointed as the receiver to company. The firm’s rental division, which had 1,500 Ford vehicles, has also stopped operations. Armada Fleet Services, a related company to South Dublin Motors, continues to trade as normal and will be unaffected by today’s announcement. The most recent audited accounts to December 31, 2008 reported losses in excess of €1m for the year and no accounts have been…

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Business and Leadership Ltd.

Ten laptops were stolen from the Revenue Commissioners office on the Navan Road last night. It is understood that three men were involved in the robbery at Ashtown, during which 10 laptops were taken. The Data Protection Commissioner has now launched an investigation as it is unclear what information was stored on the computers. The commissioner, Billy Hawkes, wants to establish if any data stored was of a sensitive nature. The Revenue said all of its laptops, including the stolen ones, are encrypted. However, Hawkes will look to confirm the security measures were sufficient to ensure privacy of personal information. Meanwhile, today is Data Protection Day which aims to let…

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Business and Leadership Ltd.

Dublin-based airline CityJet posted pre-tax losses of €51.5m for the year to the end of March 2010. The airline said that its passenger numbers increased but revenues still fell 8pc. Average fares dropped 16pc, explaining this phenomenon. In a report to the Companies Office, CityJet said, “The negative result at operating level was due to the continued severe economic environment with sharp decline in business traffic and extreme volatility in oil prices and currencies.” The company aims to return to profit by the end of 2012.

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Business and Leadership Ltd.

The receiver of Celtic Bookmakers is hoping to save 29 of the 47 outlets, which were previously owned by former politician and broadcaster Ivan Yates. Yesterday, 16 of the bookies’ shops were closed. As a result, 56 jobs were lost. Four stores in Dublin were closed, along with others in Kilkenny, Cork, Limerick, Tipperary, Kerry, Sligo, Mayo, Galway and Roscommon. The outlets will reopen for one day next week to pay out on all bets. The remaining 29 are for sale and receive Hughes Blake is seeking expressions of interest. Neil Hughes, the receiver, is selling the fully-fitted and staffed stores as going concerns. About 44 expressions of interest have…

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Business and Leadership Ltd.

As final bids for EBS Building Society are being completed by the two remaining bidders – a private equity consortium led by Dublin firm Cardinal and Irish Life & Permanent – it has emerged that Cardinal has increased its offer and said its initial cash injection will be over €600m. Previously, the Cardinal consortium had offered to inject €525m in cash into the troubled lender. The National Treasury Management Agency (NTMA) is handling the sale said the two final bids had been received ahead of yesterday’s headline. Currently, EBS is state-controlled following €875m of State funding being used to rescue the lender. However, a further €438m is needed by the…

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Business and Leadership Ltd.

It may not have been a very merry Christmas for British retailers Tesco were it not for the success of its international stores. The world’s no. 3 retailer made progress in the six weeks to January 8 with group sales increasing by 7.6pc. However, the majority of this growth came from sources outside of Ireland and the UK. Total international sales over the period grew at 14.2pc, with strong performances in Asia, Europe and the United States. Chief executive Terry Leahy said, “The group has continued to make good progress, helped by strong growth across our international businesses, which delivered over half of the group’s growth.” The supermarket giant said its…

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Business and Leadership Ltd.

The Government has warned the European Commission that the proposed introduction of rules on the taxation of business profits will damage Ireland’s economic recovery. Ireland told the Commission that if the pan-European rules went through then the country faces further tax increases and public spending cuts. The Irish Times reports today that the EU plans to draft legislation in March for European-wide formula to calculate corporation tax. Ireland has been a popular location for international corporations because of its generous tax regime but any EU-wide changes could dim its attractiveness. The Department of Finance submitted a private document to the taxation commissioner Algirdas Semeta, according to the newspaper. The department…

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