Twitter about to hit 5 billion tweets

Business and Leadership Ltd.

According to tweet-counting website Gigatweet, Twitter is about to hit its five billionth tweet. At the time of writing the number of tweets stood at 4.9 billion and hurtling rapidly towards the magic milestone. Twitter is a free social-networking tool that allows users to ‘micro blog’ or ‘tweet’ in less than 140 characters. According to the GigaTweet counter, the world is hours away from its five billionth tweet. A new communications paradigmThe site has spawned not only a new form of messaging but a new form of openness that transcends media, politics, celebrity and much more. Twitter has also evolved into an impressive search engine that keeps users up to date…

Read More

UCD nanotech lab to target €113bn energy tech market

Business and Leadership Ltd.

One of the world’s leading scientific figures in the search for ways to harness the sun’s energy, Nobel prize winner Walter Kohn, will today open a new science lab to support the R&D; of new energy technologies at UCD. Using the facilities, scientists and industry will work together to develop nanotechnologies and products targeted at the global renewable energy market, worth an estimated €113bn by 2015. Nanotechnology involves the study and use of materials on an unimaginably small scale. Nano refers to a nanometre (nm). One nanometre is a millionth of a millimetre or about one eighty thousandth the width of a human hair. “At this scale, materials can behave…

Read More

Financial services research cluster launched

Business and Leadership Ltd.

The Government this morning announced its investment of more than €4m in the establishment of a new Science Foundation Ireland (SFI) Strategic Research Cluster designed to create a centre of financial research excellence. The Financial Mathematics and Computation Cluster (FMC2) will bring together complementary expertise in financial mathematics, financial economics and computer science. Research at the new cluster, which will be led by Professor Anthony Brabazon of UCD, will initially focus on developing theory and methods for asset management to help enhance the development of the international financial services industry in Ireland and drive future employment in this area. Making the announcement, the Tánaiste and Minister for Enterprise, Trade and…

Read More

Bloomberg Buys BusinessWeek from US Publisher McGraw Hill

Business and Leadership Ltd.

The US publisher McGraw Hill is to sell its popular business magazine BusinessWeek to Bloomberg . The acquisition will strengthen Bloomberg’s online, television and mobile products, Bloomberg Chairman Peter Grauer said in a statement yesterday. “BusinessWeek will be a powerful addition to our portfolio of leading news and information services,” he added. McGraw-Hill said the transaction would enable it to continue focusing resources on building the size, scale and global presence of its brands. Details of the deal were not disclosed. However, BusinessWeek cites “knowledgeable sources” in its story on the deal, saying that Bloomberg’s cash offer is in the US$2m to the US$5m range and that it has agreed to assume liabilities,…

Read More

Global corruption costs consumers billions, says report

Business and Leadership Ltd.

Global corruption on a massive scale is costing consumers billions and standing in the way of sustainable economic growth, a new report has said. Transparency International’s (TI) Global Corruption Report 2009: Corruption and the Private Sector shows how corrupt practices, such as bribery, price-fixing cartels and undue influence on public policy, undermine fair competition, stifle economic growth and ultimately undercut a business’s existence. Research in the report also shows that half of international business executives polled estimated that corruption raised project costs by at least 10pc. The bottom line is that it is ultimately citizens who pay. The report reveals that consumers around the world were overcharged approximately US$300bn through…

Read More

AGI posts US$9.28m loss, announces new business strategy

Business and Leadership Ltd.

Dublin-listed pharmaceutical company AGI Therapeutics has reported a pre-tax loss of US$9.28m for the first six months of the year. AGI made a loss per ordinary share of US$0.14 cents during the first half of 2009, compared to the loss per ordinary share of US$0.13 cents made in the same period in 2008. The company’s revenue in the six months to June remained flat, totalling US$0.3m, while spending on R&D was slightly down on 2008’s US$8.3m to US$7.8m. AGI said it had moved to cut costs to allow funding for future clinical programmes, and it said it should now have sufficient cash resources to last at least two years. The…

Read More

Irish Food and Drink Bands Join Forces

Business and Leadership Ltd.

Over 30 of Ireland’s top food and drink brands – including Tayto, Ballygowan, Avonmore, Cadbury, Barry’s Tea and Batchelors – have come together to form Love Irish Food, an independent body that will promote Irish-manufactured food and drink products. Economist Jim Power has been named chair of the organization. According to the organization, consumers are currently confused as to what constitutes an Irish brand, and there is considerable support for a new logo to assist in identifying Irish products.  As a result, it has developed a distinctive Love Irish Food logo, which, it says, provides “an absolute assurance to consumers that the brand carrying this symbol is above all else,…

Read More

Ryanair to spend €500,000 on Lisbon ‘Yes’ campaign

Business and Leadership Ltd.

Budget airline Ryanair has said it will spend over €500,000 on a campaign urging a ‘Yes’ vote in the upcoming referendum on the Lisbon Treaty this October. “I believe it is vital that every Irish voter on 2 October next votes in the referendum and votes ‘Yes to Europe’. Ireland’s membership of the European Union and the euro has transformed our economy and the lives of millions of Irish people today,” said Ryanair’s chief executive Michael O’Leary (pictured). He described how that without Europe and the euro, the Irish economy would be “run by our incompetent politicians, our inept civil service and the greedy public sector trade union bosses, who through…

Read More

Sunday Times, Star titles score in UK ABC figures

Business and Leadership Ltd.

The only national daily newspaper title in the UK to register an increase in year-on-year circulation was The Daily Star, according to the newspaper ABC data released today. Circulation at the tabloid increased by just over 20pc for the year, to an average 887,106 copies per day. The title’s sister paper, The Daily Star Sunday, was also up, by 6.6pc to 414,533 The Sun remained the most popular daily title with a circulation of 3,121,407, which represented a slight fall of 0.4pc year-on-year. The next most popular title was the Daily Mail, with 2,178,640 copies, down just over 4pc. The biggest fall in circulation was recorded by INM’s The Independent,…

Read More

News Corp Posts Q4 Losses, Murdoch Charge for News

Rupert Murdoch

One of the world’s biggest media companies, News Corporation, today revealed that fourth-quarter operating income had slumped by over 30pc to US$3.6bn, a US$1.7bn decline from the record US$5.3bn in operating income reported during the same quarter a year ago. The Chairman and Chief Executive Officer Rupert Murdoch (pictured) also warned in a conference call following the results that the group is planning to charge for news. News Corp, whose assets include TV station Fox, social-networking website MySpace, newspapers such as the Wall Street Journal and the New York Post, and the 20th Century Fox film studio, reported a fourth-quarter net loss of US$203m (US$0.08 per share) compared with net income…

Read More