The big events happening in business this week
For your Diary: Irish retail sales; Euro zone unemployment; US payroll; Results from Aberdeen and Daily Mail
Cyber Monday should give a boost to online shopping
Results: Aberdeen Asset Management; Naturex
Indicators: German retail sales (Oct); Irish retail sales (Oct); US Dallas Fed Manufacturing Index (Nov).
Irish consumers are expected to spend more than €40 million on online bargains today, as part of Cyber Monday shopping. Retail Ireland, the Ibec group that represents the retail sector, said retailers are preparing their online platforms and distribution networks for the pre-Christmas surge today.
Following sizeable devaluations in sterling in recent weeks, Retail Ireland says there has been a considerable upsurge in online shopping, with online transactions increasing by 20 per cent to more than €1.2 billion in the last quarter.
The group said Irish retailers have reacted to that move and are heavily discounting products through their online platforms to retain consumers and encourage transactions in the run up to Christmas.
But Gerry Murray, country manager at Dell EMC Ireland, warned Irish shoppers to stay vigilant on Cyber Monday as online fraud soars. “As we take advantage of the sales, cyber criminals will be waiting to take advantage of our desire to spend.”
He said the majority of online fraud stems from malicious email attachments and links to scam websites.
“A suspicious URL, particularly if you’ve opened it in an unsolicited email, is a good indicator of a malicious website. Look out for a lock or shield icon on a website’s payment screen — that indicates that your connection is secure and your personal details won’t be intercepted.”
Results: Mallinckrodt; Shaftesbury; Tiffany & Co.
Meetings: The Future of Work Summit (Crowne Plaza Dublin Airport, Dublin 9); Irish Waste Management Conference (Carton House Hotel, Maynooth, Co Kildare).
Indicators: Japanese unemployment rate (Oct); Japanese retail sales (Oct); Euro zone economic sentiment (Nov); Euro zone industrial sentiment (Nov); Euro zone consumer confidence (Nov); UK mortgage lending (Oct).
Results: Britvic; Findel; Guess.
Meetings: Irish Waste Management Conference (Carton House Hotel, Maynooth, Co Kildare); eir Spiders Awards (DoubleTree by Hilton Hotel, Dublin 4).
Indicators: German unemployment rate (Nov).
Results: Daily Mail and General Trust; Workday.
Meetings: Dublin Chamber annual Christmas lunch (DoubleTree by Hilton Hotel, Dublin 4).
Indicators: Irish Investec Manufacturing PMI (Nov); German Markit Manufacturing PMI (Nov); Euro zone Markit Manufacturing PMI (Nov); US Markit Manufacturing PMI (Nov); Euro zone unemployment rate (Oct); US initial jobless claims (Nov 26); US total vehicle sales (Nov).
Meetings: Google breakfast briefing (The Foundry, Barrow Street, Dublin 4); Ireland’s Edge conference (Skellig Hotel, Dingle).
Indicators: UK construction PMI (Nov); US non-farm payrolls (Nov).
The second Ireland’s Edge conference kicks off as part of the Eir Other Voices Festival in Dingle this Friday.
The conference is aiming to drive national policy on the best form of intersection for Ireland of the worlds of science, technology, engineering and mathematics with the world of the arts.
Speakers will include Intel Ireland general manager Eamonn Sinnott, IDA Ireland chief executive Martin Shanahan, Open eir managing director Carolan Lennon, CPL Resources director Paul Carroll, Nokia-Bell Labs Ireland executive director Julie Byrne, American Chamber of Commerce CEO Mark Redmond, and Jim Curley, group director of Jones Engineering.
Conference organiser Philip King said the event is happening at a unique time for Ireland. “Ireland is in a challenging place in the world right now. On one side we have Brexit. On the other we have president-elect Trump. All around us we have countries vying for our jobs, our investors, our tax policies and our young people.”
Elsewhere, the Irish Waste Management Conference is taking place at Carton House in Co Kildare on Wednesday.
The conference will examine strategic challenges facing the waste management sector, financial provision requirements for EPA licensed facilities, and Irish and European updates on waste law developments.
Speakers include Panda Recycling domestic director John Dunne, Scottish EPA chief executive Terry A’Hearn, Minister for Communications, Energy and Natural Resources Denis Naughten, A&L Goodbody co-head of environmental and planning Alison Fanagan, Ecolateral UK chief executive Peter Jones and CEWEP Ireland president Jackie Keaney.
The event will also include a tour of Covanta’s facility at Poolbeg for the first 150 delegates on Tuesday.