Companies | Business Post

Project Clover: How Ireland finds itself in an awkward position on TikTok

The Chinese-owned company is in damage-control mode, with Ireland at the centre of its efforts to assuage fears of misuse of users’ data

Top Dalata executives given shares valued at nearly €2.5 million

Market value of chief executive’s shares award is €945,000 as publicly listed hotel firm reported record revenue of €558.3 million for 2022

Financial advisory firm Metis Ireland buys Davy out of stake in company

Firm now wholly owned by board members and senior management, including Carl Widger and former Dublin GAA footballer Paddy Andrews

Nuremore chef alleges electricity cut off and hotel’s assets seized by Revenue

Liga Kondrate, a former chef de partie at the hotel, has initiated a winding up petition under the Companies Act in the High Court against Nuremore Hotel Management Limited

Danish firm Ørsted acquires Carlow solar farm that could power 56,000 homes

But the company warned the government more investment was needed in the national grid ‘or we are racing towards a roadblock’

50 recruitment staff being cut at Meta’s Irish arm in global layoffs

Impacted recruiters were informed this morning of the planned redundancies, with further cuts in the company’s technology and business divisions likely in the coming months

Zara owner Inditex outpaces rivals as store-efficiency drive fuels record profit

Operating profit rose 29 per cent to €5.52 billion in the 12 months through January, the company said Wednesday

H&M sales wide of estimates amid weakened consumer sentiment

Swedish group last year saw profits dive due to soaring costs and weakening consumer sentiment

Intel makes fresh offer of unpaid leave to thousands of staff at Irish operation

The company has renewed an offer to manufacturing staff under which they can take up to three months of unpaid time off as part of moves to achieve ‘cost efficiency’

VC investment in Northern Ireland jumps to all-time high with rise in overseas backers

New data shows there were five funding rounds worth more than £10 million in 2022

Dermot Desmond-backed gold firm gets more time to land major deal after embezzlement case

However, investors in African Gold Acquisition Corporation have asked to redeem much of the cash they put up for acquisitions

Google workers’ performances since Covid-19 pandemic to be reviewed as part of Irish job cuts

The tech giant will assess workers’ ratings as one of the criteria that will decide who is laid off, as fears grow that it will impose compulsory redundancies on low performers

Ladbrokes owner Entain books 13% earnings jump but warns of ‘regulatory headwinds’ in 2023

Company reported overall revenues of £4.3bn but its online trading suffered last year as a result of regulatory issues the UK and in the Netherlands

Irish Continental Group enjoys bumper year as ferry revenues rise to €400m

Transport group reports 74 per cent jump in overall revenues and pays out €24m in dividends to its shareholders but says it is ‘concerned’ by the lack of checks on goods arriving into Northern Ireland from Britain

Company making video game controllers for people with disabilities raises €2.4m

Byowave describes its invention, the Proteus Controller, as “like Lego for video game controllers”

Chinese firm gets another chance to take claim against Ganley despite ‘bare-bones allegations’

The businessman’s company Rivada Networks is being sued by Kleo AG for alleged defamation

Intel seeks extra €5bn from German government to fund mega-plant amid soaring inflation

Multibillion-euro chip plant could have been built in Ireland but the company decided to locate it in east German city instead, partly due to our creaking energy and water infrastructure

Former Paddy Power staffer to ‘keep scaling’ new betting firm with online launch ahead of Cheltenham

AK Bets has been active on Irish racetracks over recent years but founder Anthony Kaminskas wants to grow its customer base and believes the new website and apps will have an ‘astronomical’ impact on its revenues

Profits dip as costs rise at Whiskey and Wealth club

Pre-tax profit for the year at Jay Bradley-founded company was £3.3 million, down from £3.8 million the year before

Revenue tops €1bn at food group Aryzta

Organic revenue growth at the Cuisine de France owner increased 25.4 per cent