IN THE PAPERS
In The Papers 30 April
30-04-2009
by Sylvia Leatham
MyHome gets new boss | Slidepath slips into sale
The Irish Times reports that MyHome.ie, the property website owned by The Irish Times Ltd, has appointed Angela Keegan as managing director. Keegan, who has been chief operating officer since 2005, will take over from Chief Executive Jim Miley on 1 June. Miley was a founder of the business in 2000 and has led the company since its inception. The Irish Times acquired MyHome.ie in July 2006 for an initial payment of EUR40 million.
The paper also notes that UK digital pathology group Genetix will pay an initial EUR2.5 million in cash and shares to acquire Slidepath, a Dublin City University spin-off. Slidepath sells technology that allows companies to analyse, manage and view tissue and cell samples via the web.
The Irish Independent says that businesses can save at least 10 percent on their running costs if they heed the advice of a new carbon calculator that measures environmental impact, according to the Government. The online Carbon Management Tool, available on the Department of the Environment's Change.ie website, aims to help firms manage their water, energy and waste bills.
The same paper reports that Time Warner's first-quarter profit fell as the recession ate into advertising and DVD sales. Net income declined to USD661 million, or USD0.55 a share, from USD771 million, or USD0.64 a share, a year earlier. Profit of USD0.45 a share excluding some items beat the USD0.40 average estimate of analysts in a Bloomberg survey. Ad sales at the AOL internet unit and Time magazines plummeted as marketers slashed budgets.
The Irish Examiner says that the Moriarty Tribunal is expected to recall next month several senior civil servants who oversaw a competition to award the State's second mobile phone licence to a consortium headed by businessman Denis O'Brien. It is understood that the surprise decision to recall the civil servants to give evidence was taken after controversy erupted last week over the discovery of a document which only recently came to the attention of O'Brien. The inquiry is investigating possible links between former Fine Gael minister Michael Lowry and O'Brien after the Esat consortium was awarded the mobile licence in 1996.
According to the Wall Street Journal, Apple is building a significant capability to design its own computer chips, a strategy shift that the company hopes will create exclusive features for its gadgets and shield Apple's work from rivals. The company has been hiring people from many different segments of the semiconductor industry, including engineers to create multifunction chips that are used in mobile phones. Sources said that Apple could use the new chips to greatly reduce the power consumption of its iPhone and iPod devices, and possibly add graphics circuitry to improve game software.
The paper also reports that Swedish telecoms equipment firm Ericsson's first-quarter net profit slumped 35 percent, due to restructuring charges and continued losses at Sony Ericsson. Net profit for the three months ended 31 March dropped to SKR1.72 billion from SKR2.65 billion a year earlier. Analysts had expected net profit of SKR1.66 billion. Ericsson retained its relatively optimistic view of the infrastructure market for 2009, saying most operators have so far weathered the economic crisis with healthy financial positions intact.
The same paper says that chipmaker Infineon Technologies has recorded a narrower net loss in its fiscal second quarter. The German firm posted a net loss of EUR258 million for the period, compared with a net loss of EUR1.96 billion a year earlier. Sales fell 29 percent to EUR747 million. The company remained downbeat in its full-year outlook, as the economic downturn continues to impact on demand for consumer electronics.
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