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THE 1% PODCAST – Ade McCormack 
Listen here 

Ade McCormack had some fascinating perspectives on the optimisation of organisational performance in the new digital 
age on this week’s 1% Podcast.
 
An expert and thought leader in the future of work, Ade has lectured at MIT, had columns in the Financial Times, and CIO Magazine, and has worked with some of the world’s most recognisable brands around performance and attention.

With all of the digital distractions around us today, whilst so many are juggling work and family at home and operating completely digitally, we particularly explored the issue of attention and its impact within the performance setting, both personal and professional.   Listen & subscribe>

 

BUSINESS PAPERS – THE MAIN TALKING POINTS

  • The Business Post says the government is to subsidise the wages of newly hired workers
  • The Sunday Independent claims SMEs are struggling to access state Covid-19 loan schemes
  • The Sunday Times says seasonal workers are to be included in the wage subsidy scheme
  • The FT reports that Tesla has overtaken Toyota to become the world’s most valuable carmaker
  • The Wall Street Journal reports that the US economy added 4.8m jobs in the month of June
QUOTE OF THE WEEK

 

“As a country we owe him and his family a great debt of gratitude.”
– Taoiseach Michéal Martin pays tribute to Chief Medical Officer Tony Holohan who stepped down from his position last week to care for his sick wife.
 

 

THE BUSINESS POST
 

 

“Government to subsidise wages of new workers under stimulus plan,” is the headline on this week’s Business Post. According to Michael Brennan’s report, the aim is to persuade businesses to hire some of the 439,000 people currently on the pandemic unemployment payment. Brennan writes that the aim of the scheme is to “reduce the financial risk for employers who are nervous about taking on staff”.

Also on the front page, Aaron Rogan reports on the Irish brands that have joined the advertising boycott of Facebook over its handling of hate speech. He writes that Guinness and Jameson have joined the boycott while Bank of Ireland is “reviewing its position”.

On page two, Aiden Corkery reports on a warning from Leo Varadkar to the country’s banks not to make “additional profits” from customers on Covid-19 payment breaks. Varadkar added that if the banks were found to have done so, it would be as damaging and costly to them as the tracker mortgage scandal.

“Close the pubs that flout coronavirus rule” is the headline over a story on page three. It comes as the chief executive of the Vintners’ Association Padraig Cribben expressed support for tough action against pubs who are not observing social distancing measures. “Effectively, the authorities should be taking action, and that action should be closing them down”, Cribben told the paper.

Minister for Finance Paschal Donohue has poured cold water on the idea that the state could provide insurance, according to the report on page four. Amid calls for the government to provide insurance to crèches and other childcare providers, Donohue said he had “no reason to believe” the state would be any better at managing risks than private insurance companies.

There are quite a few stories to note in the retail sector in this week’s paper. Firstly, on page seven Killian Woods reports that French sports retailer Decathlon, which recently opened its first Irish outlet beside Ikea, has said that will prioritise Cork and Galway as new locations to expand its Irish footprint. On the same page, Rosanna Cooney reports that Columbia, the billion-dollar US sportswear company, is opening its first store, on Dublin’s Trinity Street this weekend. On page nine it’s reported that Kildare Village has won planning approval to ahead with a €70m expansion. Finally, in less positive news, The Kilkenny Group has closed its store in Greystones with the loss of 17 jobs.

In Brief

  • The €14bn Apple escrow account made losses of €40m in 2019, up from €16m in 2018
  • National Broadband Ireland said it can “significantly” speed-up the roll-out of rural broadband
  • The Central Bank is to develop a regulatory framework to oversee the non-bank financial sector
  • Ryanair has called for a cut to the “anti-competitive” passenger charges at Dublin Airport
  • Stationless bike rental service Bleeperbike has launched a new corporate service
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
 

 

 

“SMEs struggling to access Covid-19 loans and supports”, is this week’s top business headline. Sean Pollack reports on sources within the business community as saying that small businesses are finding it “close to impossible” to access the state’s Covid-19 loan scheme. The report quotes one source as saying that of the 2,931 eligible applicants for the loan scheme just 584 have had their loans sanctioned.

In another top story, Samantha McCaughren reports on a new €125m film and TV studio complex planned for Dublin. Grange Castle Media Park will target films and streaming platforms with budgets of around €100m plus.

In Brief

  • Irish software firm iQuate has raised $15m to fund a merger with US cloud firm Hypergrid
  • New energy supplier Bright aims to sign up 100,000 customers in Ireland in the next two years
  • Payments firm Square, headed by Twitter boss Jack Dorsey, is to offer its products in Ireland
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
 

 


“Seasonal staff protected in new €1bn stimulus” is the splash on this week’s Sunday Times. Stephen O’Brien reports that seasonal workers will be brought into the temporary wage subsidy scheme and that the government will also increase its injection of cash into small businesses, bars, and restaurants by as much as €1bn. The stimulus plan is due to be announced next week.Onto the business pages and the top story is that workers who retired last year from company schemes managed by Irish Life had an average pension pot of only €58,000. The pensions were so small that 60% of retirees were able to take the entire amount as a one-off tax-free lump sum.

As if they didn’t have enough problems, Conor McMahon reports that Ireland’s restaurants are being asked to dish up deposits of up to €5,000 just to switch energy suppliers. That’s according to the Restaurants Association of Ireland who said its members were being hamstrung from switching energy suppliers because they fall within a “high-risk bracket”.

In Brief

  • Top civil servant Robert Watt has expressed an interest in becoming a director of the FAI
  • Hotel group iNua is raising more than €10m in fresh equity to help stabilise the business
  • Boutique hotel chain CitizenM is to build its first Irish property on Bride Street, Dublin 8
  • Danish homewares store Jysk is to open its first Dublin outlet in Santry by October
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 
 

 

 

Tesla, the electric car pioneer founded by Elon Musk, has overtaken Toyota to become the world’s most valuation carmaker according to this week’s FT. The paper reports that shares in Tesla topped $1,100 last week giving the company a market cap of $205bn compared to Toyota’s $200bn.

As reported in the Business Post, Facebook is losing more advertisers in a growing boycott over the proliferation of hate speech on the platform. Diageo, Starbucks, and Levis are the latest big-name companies to pull their ads from the site joining the likes of Unilever, Coca-Cola, and The North Face. Mark Zuckerberg doesn’t appear too worried, however, saying that the brands would return to Facebook “soon enough”.

The aviation industry is reeling from the impact of Covid-19 and judging by an announcement by American Airline’s things don’t look like they are going to pick up any time soon. The airline said that it could have as many as 20,000 excess staff than it actually needs this autumn due to its reduced flying schedule.

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 despite a worrying surge in coronavirus cases the US economy added a massive 4.8m jobs in June bringing the unemployment rate down to 11.1%. However, it notes that the jobs report doesn’t reflect recent business closures across the southern half of the country.

 

Underscoring the seriousness of the surge in Covid-19, McDonald’s said it was pausing the reopening of its eat-in service in the US. The fast-food giant said it would wait at least three weeks before adding eat-in service to its drive-thru, takeout, and delivery operations. Meanwhile, tech giant Apple is also taking no chances saying that it was closing 30 of its US stores in addition to the 16 already shuttered.

Finally, it was a bad week for Karen Parkin, the global head of human resources at sports brand Adidas. Parkin, who is 55, said she was retiring from the company following comments she made at an employee meeting last year where she said that racism was “noise” only discussed in America. “I have decided to retire and pave the way for change,” Parkin wrote in her resignation memo.

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.
Have a good week. 
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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