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THE 1% PODCAST – Kingsley Aikins
Kingsley is the CEO of The Networking Institute, a consultancy company that specialises in training in the areas of trade promotion, philanthropy, and diaspora engagement.
 
Kingsley is an ardent believer in the power of networking. He has spent his life striving to bring together people under the one umbrella of promoting Irish interests. Kingsley firmly believes that life is a game of inches, so tune in to hear his advice he has to share that will help move us all just a little further along our respective journeys.
BUSINESS PAPERS – THE MAIN TALKING POINTS
  • The Business Post reports that Packed House is among the bidders for Maximum Media
  • The Sunday Independent says Ireland’s construction output decline will be the worst in the EU
  • The Sunday Times says trade credit insurance provider Altradius could cut coverage limits
  • The FT reports that the CEO of payments firm Wirecard has resigned over a missing €1.9bn
  • The WSJ says Apple has shut nearly a dozen stores in the US after a surge in Covid-19 cases
QUOTE OF THE WEEK

“Once again we are taking our place among the nations of the world”.

– Taoiseach Leo Varadkar on Ireland winning a seat on the United Nations security council.

 

 

 

THE BUSINESS POST

 

Packed House, the owner of Entertainment.ie, is in the running to acquire embattled digital publisher Maximum Media according to this week’s Business Post. Maximum, which owns the websites Joe.ie and Her.ie, is insolvent and KPMG has been appointed to find a buyer to try and clear more than €6m in debts. According to Aaron Rogan’s report, there are three strong bids for the company including one tabled by Maximum’s management team.

Hairdressers are set to reopen at the end of this month after the government accelerated the relaxation of Covid-19 restrictions. However, salon owners say they expect hair salons will suffer a drop in turnover due to the new hygiene measures. Sam Donnelly, owner of Sam’s Barbers chain and a member of the Hair and Beauty Industry Confederation, said: “Even if when we open and it’s like Christmas every week for a month, we’ll still be making less because of the changes”.

Restaurants are also reopening their doors on 29 June, however, not everyone is happy due to a new rule stipulating that diners can only stay at their table for 105 minutes. According to Gillian Nelis’ piece chefs at Ireland’s Michelin-starred restaurants have slammed the rule as “completely unworkable”. Nelis quotes Mickael Viljjanen, chef at The Greenhouse in Dublin and holder of two Michelin stars as saying: “Having a blanket rule for all pubs and restaurants is crazy. A high-end, modern restaurant is not the same as a pub.”

Two new “apart-hotels” due to open in Dublin early next year will create 100 jobs according to a story on page four. Locke, the hospitality firm, will open Zanzibar Locke on Lower Ormond Quay in January, while Beckett Locke, behind the 3Arena, will open in February.

On the same page, Ian Guider reports that the Central Bank has stepped up it’s monitoring of investment funds based in Ireland following an outflow of money as a result of turmoil in financial markets earlier this year. It comes as more than €72bn had poured out of Irish-based investment funds in March alone.

In Brief

  • Agri-tech fund Wheatsheaf Group has invested €5.8m in Irish grocery delivery app Buyme.ie
  • Helikon Investments has built up a more €30m stake in Glenveagh Properties
  • Paschal Donohue is expected to stay on as Minister for Finance in a      FF/FG/Green government
  • Permanent, the wireless broadband provider, is to wind down operations in the coming months
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

 

The decline in the Irish construction sector will be the worst in the EU according to this week’s top business story. Sean Pollock reports on new figures from industry forecaster Euroconstruct that show that output in the sector is expected to fall by 37.7% – significantly worse than 33.6% decline seen during the financial crisis in 2009.

In another top business story, Samantha McCaughren reports that insolvency experts believe that there are likely to be more than 1,000 liquidations of insolvent companies this year. By comparison, there were 436 insolvencies in 2019.

Trade unions at Aer Lingus are facing “huge tensions” within their membership after finding themselves “badly outmaneuvered” by the airline ahead of its announcement to axe 500 staff. Sean Pollock reports that SIPTU union members have said shop stewards “sold out staff” because they were not balloted on the company’s work practice proposals which would have negated the need for redundancies.

In Brief

  • Over half of young people are concerned about their job due to Covid-19 according to a new survey
  • Baker Forge Property wants to build a 202-bed student complex in Dun Laoghaire
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

 


Trade credit insurance provider Altradius could cut coverage limits in the absence of a deal with the government according to this week’s top story. The insurer is reported to have told brokers that state-backed support measures were “essential to enable the insurance industry to maintain significant cover levels in the market”.More than 2,600 first-time house buyers borrowed more than the Central Bank limit of three-and-a-half times their income last year, while almost half borrowed 90% of the price of their home. That’s according to new figures from the Central Bank which show that 17% of first-time buyers in 2019 needed an exemption from its loan-to-income restrictions.In Brief

  • Irish funds administrator DMS Governance has merged with MDO and MontLake
  • EY has been fined €2,500 by Chartered Accounts Ireland for failing to disclose fees to a client
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 FT leads with the news that Markus Braun, the CEO of German tech company Wirecard has resigned following revelations that €1.9bn of cash has gone missing from the company’s bank accounts. The news sent shares in the company plunging more than 70% as investors fearing insolvency rushed for the exit door.

The UK’s competition watchdog has launched an investigation into whether retailers have been overcharging for in-demand products like hand sanitiser during the pandemic. The Competition and Markets Authority said it was launching the probe following complaints from consumers alleging they had been ripped-off.

This week’s paper carries an interesting piece titled “Prosperity in the pandemic” listing the top 100 companies that have seen their values surge due to Covid-19. E-commerce giant Amazon tops the list having added a whopping $400bn to its market cap in the year so far. Other companies to feature in the list include Apple, Netflix, and PayPal.

 

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 WSJ reports that Apple is closing almost a dozen of its stores across four US states due to a surge in coronavirus cases. The company said it was pulling down the shutters on 11 of its stores across North Carolina, South Carolina, Florida and Arizona.

US companies repatriated $124bn in profits in the first quarter of 2020 according to data released by the Commerce Department. According to the report, the repatriations were made just as the coronavirus epidemic was starting and are a sign of companies needing cash for their US operations.

Finally, in the wake of anti-racism protests across the globe, a number of high-profile companies are being forced to review their brands and product packaging due to concerns over potentially racist imagery. PepsiCo said it would be retiring its Aunt Jemima pancake mix while Mars said it was reviewing the branding of its Uncle Ben’s food range.

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.
Shay

 

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

 

T: +353 1 661 0444/

086-8562176

 

A
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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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