Planet Business

A round-up of today's other stories from the world of business . . .

DICTIONARY CORNER: ‘JESUS TABLET’

in common techy parlance is the understated label bestowed on 2010’s Apple iPad – now it’s the handle granted to the next covetable rechargeable device, 2011’s Apple iPad 2. In recent weeks, speculation has escalated that the next-generation tablet computer was about to be unveiled or held back until June due to last minute design changes. The rumour mill prompted writers at the Crave gadget blog to note in a headline that “Apple’s iPad is imminent or delayed. One of the two, anyway.” Now Apple has announced it will hold an event next Wednesday, at which it is expected to launch the iPad 2. The difference between now and last year is that several rivals are gearing up to catch a few disciples of their own.

THE QUESTION: How bad is the collapse in Irish tourism?

THE LATEST CSO figures show the number of trips by overseas visitors to Ireland fell almost 13 per cent last year, with the number of tourists struggling to reach 6 million. Tourism Ireland had estimated the figure to be 6.8 million in November.

The heady days of 2007, when visitor numbers peaked at more than 8 million, looks like ancient history and that’s before you consider the impact of the economic crisis on the staycation market. A survey by Fáilte Ireland published in December suggested it was mainly only caravan and camping operators who had ended the year feeling vaguely satisfied.

Ireland’s tourism market was given lip-service in all the main parties’ manifestos, with policies ranging from the conditional abolition of the €3 travel tax to a promise/threat to develop a “St Patrick’s fortnight”. However, the number of people who come to Ireland for a spot of leprechaun-watching washed down by a pint of Guinness is influenced as much by the economies in their home countries than conditions here.

And it is the British market, our largest, that has declined by the steepest percentage. More than 4 million UK residents travelled here in 2007. In 2010, that number hovered around 2.7 million, suggesting business commuters and people visiting family members are also cutting back on travel.

Tourist agencies face another challenge, as the CSO last year had to curtail the frequency of its visitor data to quarterly rather than monthly updates due to restrictions on staff recruitment.

Court Date

IT’S BEEN off the market in its brand form since 2009, but acne drug Accutane is still obliging pharmaceutical giant Roche to appear before a jury. This week, a New Jersey court heard the case of actor James Marshall, most famous for his role in A Few Good Men, who is seeking $11 million in damages from Roche for failing to properly warn that inflammatory bowel disease may be a side effect. Martin Sheen will testify that Marshall was heading for stardom before bowel ailments allegedly caused by Accutane forced doctors to remove his colon. Roche says Accutane’s label included warnings that some users suffered rectal bleeding, diarrhoea and other symptoms. The case is the eighth to go to trial relating to bowel problems linked to Accutane. So far Roche has paid at least $45 million in damages.

Status Update

Royal nausea:Edinburgh design graduate Lydia Leith is raking in cash after creating a sick bag with a cartoon of William and Kate that advises users to "keep this handy on April 29th".

Bonus business:John Specht, the head of the UK's Spearmint Rhino lap dancing and strip club chain, says trade is booming because "city folk are getting their bonuses again".

Price tag:Music streaming site Spotify is seeking $100 million for a 10 per cent stake, valuing the Anglo-Swedish company, which has 750,000 paying users, at $1 billion.

If Libya and Algeria were to halt oil production together, prices would peak above $220 a barrel

Commodity analystsat Japanese bank Nomura predict that crude oil prices could double if unrest in Libya spreads around north Africa and the Middle East

800,000

Average number of people who watched Tuesday's final leaders' debate on RTÉ's Prime Time