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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 says business groups are disappointed by last week’s stimulus plan
  • The Sunday Independent claims Nutriband is taking legal action over a €47m share transfer
  • The Sunday Times says Ryanair is threatening to sue the state over its travel green list
  • The Financial Times reports that Tesla posted its fourth consecutive quarterly profit
  • The WSJ reports filings for weekly US unemployment rose for the first time in four months
Q
UOTE OF THE WEEK

 

“It’s a clumsy vehicle that lacks the kind of ambition and the kind of punch that we need right now”.

– Sinn Fein leader Mary-Lou McDonald’s verdict on the government’s stimulus plan.

 

 

THE BUSINESS POST
 

 



Business groups are roundly disappointed by last week’s economic stimulus plan and want the government to unveil stronger supports, according to the front page of this week’s paper. Peter O’Dwyer and Aiden Corkery report that months of intense lobbying by business groups “will begin tomorrow” ahead of Budget 2021 when a long-term national economic plan is due to be published.

So what exactly are business groups saying about the much-heralded €7bn stimulus plan designed to save the economy? Eoghan O’Mara Walsh CEO of the Irish Tourism Industry Federation singled out the “staycation tax rebate” saying it is too complicated and needs to be redesigned. Elaina Fitzgerald Kane, president of the Irish Hotels Federation said the stimulus “didn’t go far enough for her members”. Meanwhile, John Moran, the chair of SME Recovery Ireland, said a “much wider-ranging support programme” was needed adding that he believed the government was taking a “Darwinian” approach to the crisis where only the strongest firms would survive.

Fans of Bewley’s café on Grafton Street will be pleased to hear that it will shortly be reopening it doors to customers. It comes after the café reached an agreement with its landlord, Johnny Ronan’s Ronan Group. Kilian Woods reports that Bewley’s has raised the cash necessary to clear its rent arrears along with interest and legal costs. It is expected that the café will reopen sometime over the next two weeks.

On page five, Rachel Lavin reports that Irish restaurants have seen a dramatic increase in online bookings since lockdown restrictions were lifted on 29 June. She cites data from restaurant bookings website OpenTable which said that bookings for July were as much as 35% higher than last year.

In Brief

  • The government said it would lose €7.5bn on its investment in the banks if it sold its shares now
  • The IDA said it is “heavily engaged” with clients companies over the impact of Covid-19
  • Irish online home furniture marketplace Ufurnish has sealed a €1.8m funding round
  • The Omniplex cinema group says it is doing just 20% of its normal business due to Covid-19 
  • WeWork is on schedule to open its new office space in Central Plaza in Dublin in Sept 2021
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
 

 

Nutriband, the medical technology company, is to pursue a lawsuit against two companies and their executives for misleading it over a €47m share transfer, according to this week’s top business story. Sean Pollack reports on Nutriband’s claim that Advanced Health Brands and TD Therapeutic, and their executives, made “materially false and misleading statements” to make their companies seem more attractive and allow for the exchange of stock.

Also on the front of the business pages, it’s reported that Aer Lingus has issued a “stern warning” to its staff at Dublin Airport to stop trashing the company over social media. “Using social media to disparage or comment negatively on Aer Lingus, our customers or your colleagues is not acceptable,” warned an internal company memo which added that offending staff could be fired.

Turning to retail and department stores Brown Thomas and Arnotts are performing better than expected after reopening the following lockdown. That’s according to managing director Donald McDonald who said business had been stronger than expected with regional stores outperforming flagship Dublin outlets.

There’s news of an interesting initiative by Enterprise Ireland on page two of the business section. Ferghal O’Connor reports that the state agency is running a pilot scheme to turn sports stars into business stars. The “Sport to Start-up” project is aimed at 4,000 full-time sportspeople who face uncertainty about how to make a living when their sporting careers end.

In Brief

  • Broadcaster Gay Byrne left €1.2m in his will which he made 12 days before he died
  • P2P lender Linked Finance wants to be included in the state’s €2bn credit guarantee scheme
  • UK sub-prime lender Amigo Holdings has grown its Irish loan book to €8.2m
  • New sponsorship deals dropped by 46% in the first half of 2020 say consultants Onside
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
 

 



“Ryanair poised to sue the state over travel green list” is the headline on this week’s Sunday Times. The paper says Ryanair is threatening legal action against the government if it does not expand the green list of safe countries to include the UK and the 27 EU member states. Ryanair’s legal team says the current travel restrictions are “imprecise and uncertain” adding that the government hasn’t made clear what is, and isn’t, defined as “essential travel”.

The FAI is also in the news again over claims that it made secret rent payments to its ex-CEO John Delaney. Mark Tighe and Paul Rowan report that the FAI paid €16,800 in rent to Delaney’s landlord in 2012 as well as paying Delaney himself a €19,200 tax-free rent allowance the same year. According to the report, the payments allowed Delaney to escape the impact of a 10% pay cut that was imposed on all FAI staff in September 2012.

Turning to the business pages and the top story is that MKN Property is planning to build a large hotel and housing development at Dublin’s East Wall. The first building will consist of a 15-story hotel with 195 bedrooms, while two further blocks will comprise 88 apartments.

Hotels are having to get creative and think outside the box in order to generate business according to a report by Julianne Corr. She reports that hotels including the Dunboyne Castle and the Knightsbrook Hotel, both in county Meath, are renting out rooms to the public for use as remote offices. “We have seen strong interest,” said Eliabet Diaz, general manager of Dunboyne Castle.

In Brief

  • Almost 10,000 businesses sought insurance rebates during lockdown say Insurance Ireland
  • Developer Joe O’Reilly has lodged plans to build 725 apartments close to the Royal Canal
  • West End Knitwear has posted a 16% jump in profits to €1.4m
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 maker led by Elon Musk, posted its fourth consecutive quarterly profit according to this week’s FT. Revenue at the company was $6.04bn, about $1bn higher than forecasts and just 5% less than a year ago. The paper described the results as “remarkable”.

There was less good news for chip manufacturer Intel after it said that it had been forced to push back the launch of the next generation of microchips by six months. The company said it was also considering contracting out more of its manufacturing. Shares in the company slid by 7% on the news.

Slack, the workplace messaging app, has filed a formal antitrust complaint against Microsoft with the EU. Slack is accusing the tech group of unfairly bundling its rival app Microsoft Teams with its Office 365 tools.

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 filings for weekly unemployment in the US rose for the first time in four months as some states were forced to roll back reopening plans due to the coronavirus pandemic. Initial unemployment claims rose by 109,000 to 1.4m for the week ended July 18.

 

McDonald’s has said it will require all of its customers in the US to wear face masks beginning from next month. The fast-food chain joins a growing list of companies including Starbuck and Walmart to bring in mandatory face coverings in a bid to stop the spread of coronavirus.

Finally, Twitter reported strong user growth but said it was experiencing lingering impacts from the coronavirus pandemic. The social media company said its daily user base rose by 12% to 186m in the three months to the end of June even though revenue fell 19% to $683m.

 

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
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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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