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THE 1% PODCAST – Ade McCormack 
Listen here 

Enda played on the Armagh team that won the All Ireland in 2002, and was awarded an All-Star that year and won seven Ulster titles with that team. Enda earned a degree in psychology from Queens University Belfast and a degree in Sports Science from the University of Ulster.
He worked for 7 years as performance coach to the Leinster rugby team that won three European Heineken Cups in 5 years. He also coached Olympic and professional sportsmen and women like Brian O’Driscoll, Seán O’Brien, Johnny Sexton, Annalise Murphy, Paul Galvin, and David Gillick.
Off the field, with his own leadership consultancy firm he has worked with a wide array of corporate clients in Ireland, Europe, North America, and Asia and has successfully delivered unique motivational programmes on human performance, leadership, team performance, and mental toughness to companies such as Microsoft, Intel, Merck, Kelloggs, Google, Lidl, and Morgan Stanley. In 2017 Enda published
Commit: Make Your Mind and Body Stronger and Unlock Your Full Potential.

 

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BUSINESS PAPERS – THE MAIN TALKING POINTS

  • The Business Post reports Willie Walsh as saying the current travel restrictions are extreme
  • The Sunday Independent says Sean Quinn’s children have joined the battle to retake his empire
  • The Sunday Times says Kerry Group is considering selling a 60% share in its dairy business
  • The Financial Times reports that the eurozone economy has suffered its biggest fall in 25 years
  • The WSJ reports that the US economy contracted at a record rate in the last quarter
Q
UOTE OF THE WEEK

 

 

“I am surprised at how it’s taken off. I’ll have to lay low for a while.”

– Fine Gael TD Richard Bruton on his staycation video which went viral last week.
 

 

THE BUSINESS POST
 

 

“Walsh scathing on government’s ‘extreme’ measures on air travel” is the headline on one of this week’s cover stories. Ian Guider reports that Willie Walsh, CEO of IAG, the parent company of Aer Lingus has hit out over what he says are “extreme measures” to prevent air travel. The paper reports that Walsh believes the government should aim to contain the impact of the virus rather than try and eliminate it completely.

As pub owners gear up to reopen their doors later this month a number of high-profile publicans have come out to warn that the “death knell” will be sounded on many pubs if the 10 August date is pushed back. Charlie Chawke, owner of Searsons in Dublin, Jerry O’Dea a Limerick-based publican and Michael O’Donovan, owner of the Castle Inn in Cork City are all quoted in Killian Woods’ piece warning of armageddon for pubs if they are forced to remain closed.

Small firms have shown “little appetite” to take on new loans over the last few years. That’s according to Jane Howard, CEO of Ulster Bank, who said SMEs are probably more cautious because of the last crisis. She also said there has been no uptick in loan demand due to the Covid-19. “We certainly haven’t got increased demand because of Covid-19,” she said. “In part, because what would you do with it? The opportunities to invest and expand just aren’t there.”

Ryanair announced its second-quarter results last week and they weren’t a pretty picture. The airline lost €185m for the months of April, May, and June compared with a €243m profit for the same period last year. However according to Peter O’Dwyer’s piece the airline is sitting on almost €4bn of cash reserves so it is well-positioned to weather the current crisis.

Rosanna Cooney reports that revenues at the top law firms in Ireland swelled last year. She writes that revenues at the so-called “big seven” law firms in Ireland were estimated at €846m in 2019, an increase of €32m in 2018.

In Brief

  • FST Growth has bought into Kinzen, the media start-up founded by Mark Little and Aine Kerr
  • Ireland is ranked as the 32nd best country to host a conference according to a new survey
  • Greencore has said it will not be in a position to pay a dividend until the end of next year
  • The Dublin Airport Authority is progressing a €45m investment programme despite Covid-19
  • Retained earnings at Davy stockbrokers stood at €123m in 2019
The Sunday Business Post is a digital subscription. We encourage you to support quality journalism and subscribe or buy the physical newspaper. Subscribe here >
 

 

THE SUNDAY INDEPENDENT
 

 

 
“Quinn’s children in a battle for lost empire” is the splash on this week’s paper. Maeve Sheehan reports that the five children of former billionaire Sean Quinn have issued a legal threat demanding shares in his former businesses. The threat was made to the six directors of Quinn Business Retention Company, one of whom is Kevin Lunney, who was abducted and tortured last year.

Onto the business pages, and the top story is that up to 870 airport staff have applied for a voluntary redundancy programme at Dublin and Cork airports. The news comes as the Dublin Airport Authority loses €1m per day due to the impact of Covid-19 on the aviation sector.

Sean Pollack reports that Eire Born Spirits, the drinks company founded by MMA fighter Conor McGregor has a valuation of around €200m. The company owns and promotes McGregor’s Property No Twelve Irish Whiskey.

In Brief

  • Peter Navarro, a trade adviser to Donald Trump, has described Ireland as a “tax haven”
  • Gym+Coffee has opened an online store in Australia and a pop-up shop at Kildare Village
  • Ardmore Shipping posted a net income of $20.1m for the six months to the end of June
  • Cryptocurrency exchange Binance is launching its debit card in Ireland
  • Cassidy Wines is expecting to grow its turnover to around €21.5m this year
The Independent Group makes its digital revenue through advertising. We encourage you to support quality journalism by clicking the link below or by purchasing the physical newspaper. Click here >
 

 

 
THE SUNDAY TIMES
 

 

Kerry Group is moving towards the possible disposal of a 60% share in its €1bn dairy business according to this week’s top story. Brian Carey reports that the disposal could be made to the members of the farmer-owned co-op.

Dublin Airport Authority (DAA) saw its annual commercial rates bill double to €35m this year. The rates bill, which was levied by Fingal country council and set before the onset of Covid-19, was a massive increase on the €18m charged in 2018. DAA is challenging the increase.

Actavo, the engineering services group owned by Denis O’Brien, has agreed with its lenders to extend its debt facilities for a further 18 months. The company said the extension provided it with a “stable platform to manage and grow the business”.

In Brief

  • Sonru, the developer of recruitment video technology, has been bought by US firm Modern Hire

 

The Sunday Times is a digital subscription. We encourage you to support quality journalism and subscribe or buy the physical newspaper. Subscribe here >
 

 

 
THE FINANCIAL TIMES 
 

 


The coronavirus pandemic has plunged the eurozone into a historic recession according to this week’s FT. The paper reports that GDP in the eurozone fell 12.1% between the first and second quarters of 2020, the sharpest drop in 25 years. Spain’s economy suffered the biggest hit shrinking by 18.5%.

Ecommerce giant Amazon is to offer free grocery deliveries to Prime members across the UK by the end of the year. The paper says the move threatens efforts by supermarkets to profit from the boom in online shopping during the pandemic.

Crispin Odey, one of the UK’s highest-profile hedge fund managers, has been charged with indecent assault. Mr. Odey, 61, the founder of the investment firm Odey Asset Management is facing a court case over an incident alleged to have taken place over 20 years ago.

The FT is a digital subscription. We encourage you to support quality journalism and subscribe or buy the physical newspaper. Subscribe here >
 

 

 
THE WALL STREET JOURNAL
 

 

The Wall Street Journal leads with the news that the US economy contracted at a record rate in the last quarter. US GDP fell at an annualised rate of 32.9% in the three months to the end of June, or a 9.5% drop compared to the prior quarter. The figures were the steepest declines in more than 70 years of record-keeping.

Despite the overall economic collapse profits at the big tech companies are soaring. Amazon, Apple, and Facebook all reported surging quarterly sales last week proving the tech industry’s strength in the pandemic.

Finally, Mircosoft is said to be in “advanced talks” to buy the US operation of Chinese-owned video app TikTok. The deal, which the paper says is likely to be for billions of dollars, could be completed by early next week according to people familiar with the matter.
The WSJ  is a digital subscription. We encourage you to support quality journalism and subscribe or buy the physical newspaper. Subscribe here >

All views are strictly my own brief interpretation of the articles in the various publications and not intended to be comprehensive. 
 
Please feel free to forward it to friends or colleagues and get in touch if you wish to add contacts to the mailing list.
 
Enjoy the remainder of the Bank Holiday.  
Shay

 

 
 
Shay Dalton 
 
Managing Director – Lincoln Recruitment
E: sdalton@lincoln.ie

 

T: +353 1 661 0444/

086-8562176

 

A: 5 Fitzwilliam Square, Dublin 2

 

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About the Author

Shay Dalton

Shay Dalton

Managing Director

sdalton@lincoln.ie+353 16498583

Shay Dalton is the Managing Director of Lincoln Recruitment Group. Shay is a qualified ACCA Accountant with over 20 years’ experience specialising in the placement of senior positions across a broad spectrum of Accountancy and Finance positions within the industrial and financial services sectors. Having been involved in the establishment of some of the most respected financial recruitment brands in the Irish market, Shay subsequently set up Lincoln Recruitment Specialists in 2008. He also hold’s an MSc in Organisational Management and is a member of BPS, qualified to conduct and interpret psychometric testing as well an EQi testing.

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