INM, repossessions, Sugru sold and Diarmuid Gavin for Dunnes
Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
The many uses of Sugru did not include making millions for its early investors.
The board of Independent News and Media (INM) was “horrified” that third parties may have had access to the company’s data or that journalists’ sources may have been compromised, its chairman is to tell shareholders at the company’s AGM on Friday.
In housing, some 10,000 borrowers in long-term mortgage arrears have reached a stage where their homes should be repossessed, the Oireachtas Finance Committee heard on Thursday. Consumer advocate Brendan Burgess said the borrowers in question were partly responsible for higher interest rates being charged by banks to other borrowers, as Eoin Burke-Kennedy reports.
Investors in hip mouldable glue product Sugru have come to a somewhat sticky end after the business was sold at a price that leaves at least some of them with a 90 per cent haircut. Ciara O’Brien has the story and also looks into what brought the company to this stage.
Dunnes Stores is adding to its relationships with celebrities by joining with gardener Diarmuid Gavin to launch a range of garden products. The deal will see Mr Gavin helping to produce a series of plant collections and garden accessories for the retailer.
Also deepening its links with celebrities of a sort is fast-food chain Supermac’s, which is extending its sponsorship arrangement with the Galway football and hurling teams until 2022. Peter Hamilton has the financial details of the arrangement.
Eoin Burke-Kennedy has an update from Sky Ireland, which is launching a new fibre broadband product that it says will allow it to tap into the best speed in any area.
And back in retail, Mark Paul takes a closer look at commonly made claims that online retail is to blame for sluggishness in the bricks and mortar side of the sector. The answer is no, according to Harvey Norman Ireland chief, Blaine Callard, who spoke rousingly on the subject at a major retail conference this week.
In Agenda, Barry O’Halloran and Joe Brennan identify the men who have made millions from Irish listed property trusts and other companies since the economy started to grow again, outlining the extent to which they’ve cashed in so handsomely.
This week’s Business Interview is with Dylan Collins, founder of child technology company SuperAwesome, which claims to operate as a bridge for brands to reach children aged between six and 16. SuperAwesome was this year named the fastest growing technology company in the UK, a fact that Collins says leaves him struggling to maintain a straight face.
If you are in business with members of your family, or a partner, you will be more than aware of the stress the professional relationship can place on your personal life. Olive Keogh digs into what can go wrong in our Work section, also offering some guidance on how to do it right.
And finally, this week’s Wild Goose is Wexford-born Aisling Quirke, whose career to date has brought her to banking in South Africa via Germany, Luxembourg, Paris and London.