Lady Gaga, Banksy make Time’s Most Influential list

Business and Leadership Ltd.

The pop star Lady Gaga and graffiti artist Banksy have made Time magazine’s list of the World’s Most Influential People. The two are included in the Artists section out of the top 100 line-ups of influential people . Other influential artists include Oprah Winfrey, Oscar-winning director Kathryn Bigelow, star of the Twilight movies Robert Pattinson, Ashton Kutcher, Prince, entertainment mogul Simon Cowell, Sandra Bullock, and director James Cameron. Lady Gaga (pictured), we are told by Cyndi Lauper, isn’t a pop act but rather a performance artist with an incredible pop sensibility. Meanwhile, Shepard Fairey, the creator of the 2008 Obama Hope poster, lauds Banksy’s particular gift: “An ability to make almost anyone…

Read More

George Lee to Return to Public Stage in UL Lecture

Business and Leadership Ltd.

Former Fine Gael TD George Lee is set to make his return to the public stage tomorrow when he speaks at a seminar in the University of Limerick. The former RTE economics editor was elected to as a TD in Dublin-South after topping the poll in a by-election last summer. However, in a move which prompted a massive media storm he quit politics nine months later, saying that he had had “virtually no influence or input into shaping Fine Gael’s economic policies at this most critical time”. According to the University of Limerick, in his speech Lee will call for a lowering of corporation tax to 10pc to attract inward…

Read More

Paddy Power Chief Earns 1.42m in 2009

Business and Leadership Ltd.

The chief executive of Paddy Power Patrick Kennedy was paid a total of €1.42m for 2009, which was up marginally on the €1.39m sum he received in 2008. Details of the bookmakers’ executive remuneration were contained in its annual report published this afternoon. Kennedy’s pay package included a salary of €678,000, pension payments of €203,000 and an annual bonus of €500,000 for 2009. The bookmakers’ managing director of non-retail and development Breon Corcoran earned a total of €827,000 for 2009, which included an annual salary of €460,000 and an annual bonus of €280,000. Meanwhile, Paddy Power’s finance director Jack Massey earned a total of €555,000 in 2009, which included a salary of…

Read More

Shell CEO’s pay rises 22pc in 2009; more job cuts

Business and Leadership Ltd.

The pay of Royal Dutch Shell’s Chief Executive rose by 22pc during 2009 to US$4.4m, according to the company’s annual report published today. Peter Voser (pictured), who was promoted to the CEO role in July 2009, had previously earned US$3.8m in 2008 in his capacity as the group’s chief financial officer. Shell announced last month that it was freezing pay for its top executives until January 2011. The move came following a shareholder revolt against executive remuneration at Shell’s AGM last May when shareholders voted against the company’s remuneration policy. The energy group said at the time that Voser would be receiving a pay rise to reflect the fact that…

Read More

OECD hails Portugal’s austerity measures

Business and Leadership Ltd.

The Organisation for Economic Co-operation and Development (OECD) has hailed the austerity measures announced by Portugal to bring its budget deficit back in line with European Commission rules, saying they will help to support the country’s growth. The Portuguese Government released a fiscal consolidation plan earlier this week through which it aims to bring the country’s budget deficit to 2.8pc of GDP by 2013 from its current level of 9.3pc of GDP. The measures being adopted include spending cuts, such as social-welfare cuts and a reduction in public-sector job creation, and tax rises, including the introduction of a new rate of 45pc tax rate for those earning over €150,000 annually. The…

Read More

Portugal joins Greece in austerity measures

Business and Leadership Ltd.

Portugal has joined Greece in announcing a series of austerity measures aimed at cutting its level of public debt. Portugal’s finance minister Fernando Teixeira dos Santos (pictured) made the announcement today as the country attempts to head off a debt crisis similar to that currently swamping Greece. The austerity measures proposed include social-welfare cuts and a reduction in public-sector job creation. Teixeira dos Santos also intends introducing a new rate of 45pc tax rate for those earning over €150,000 annually. The measures are aimed at reducing Portugal’s budget deficit from 8.3pc of gross domestic product (GDP) to 2.8pc of GDP. Of course, while such a budget deficit is nowhere near…

Read More

Ireland’s Celtic Tiger Era: Wealth Myths Debunked

Business and Leadership Ltd.

The presumption that Ireland became wealthy during the boom is false, and Irish workers, by and large, wasted their high incomes during the Celtic Tiger years, a new report from Davy stockbrokers has said. The Davy report says that while Ireland has moved up the income per capita table yearly since 1994, the country never became wealthy, as much of the money made between 2000 and 2008 was wasted. The stockbroker’s report acknowledges that Ireland was still ranked eighth in the Eurozone in terms of wealth at the end of 2009 but said that years of high income were not enough for a country to become wealthy. To become truly…

Read More

BoA reports net loss of US$194m on TARP charge

Business and Leadership Ltd.

Bank of America (BoA) has reported a net loss of US$194m for its fourth quarter compared to a loss of US$1.8bn reported a year earlier. America’s largest bank was hit with a US$4bn charge during the final quarter of the year as it paid back the last of the taxpayer monies it owed under the Troubled Asset Relief Program (TARP). BoA said it has now repaid the US$45bn in TARP funds it received from the US Government over the course of the financial crisis. Revenue for the fourth quarter rose 59pc to US$25.4bn from US$16bn a year ago, the bank said, which reflected in part its acquisition of Merrill Lynch.…

Read More

Aer Lingus Deputy CEO Niall Walsh resigns

Business and Leadership Ltd.

Aer Lingus’ Deputy Chief Executive and Chief Operating Officer Niall Walsh has resigned from the airline. The airline issued a statement yesterday saying that Walsh will leave the company with immediate effect “to pursue other interests”. Christoph Mueller, Aer Lingus’ Chief Executive Officer, will assume responsibility for the duties of the Chief Operating Officer for a temporary period. Aer Lingus Chief Engineer Fergus Wilson will assist Mueller with the additional role. The role of Deputy Chief Executive will be discontinued, Aer Lingus said. In terms of the Chief Operating Officer role, the carrier said it will immediately begin an external search. “I would like to thank Niall for his 16…

Read More

Royal Bank of Scotland cuts 200 Irish IT jobs

Business and Leadership Ltd.

Royal Bank of Scotland (RBS), operating as Ulster Bank in Ireland, has announced plans to reduce its workforce by cutting over 200 IT jobs across the Republic of Ireland and Northern Ireland. The bank has decided to close its IT support offices in Ireland, resulting in significant job losses for IT support staff. This move comes as part of RBS’s ongoing restructuring efforts and realignment of its operations. Job Cuts in Dublin and Belfast The bank’s IT support office located at Parkgate Street in Dublin will see a reduction of 196 IT support staff, while a further 25 positions will be eliminated at its Belfast office. Employees at both locations were informed…

Read More