Accounts just filed by Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) Ireland see the once great telecom behemoth sliding further out of the limelight in 2012. Revenues fell 37% from €90 million to €56.2 million, leaving a pre-tax profit of just €447,000 in 2012. When you consider the firm made a...
Google Inc (NASDAQ:GOOG) has been hit with a £24m tax bill in the UK following an investigation of its offshore structure. The figure relates to US shares given to Google staff in London and billed to the company’s Irish subsidiary, in the process reducing Google’s corporation tax liabilities in...
Indications suggest that Ireland may be beginning to emerge from one of the most difficult economic eras in its history. Now the latest statistics seem to show that even the banking sector is showing signs of recovery. The three domestic banks have ended 2013 in a much-improved position than...
As the first tranche of sales of the Irish Bank Resolution Corporation (IBRC) loan book auction concluded, it was looking as if the organization, placed into liquidation by the Irish government in February of this year, would face its end respectably. However, that hope has now dimmed with a...
ValueWalk reported in November on the closure of Newbridge Credit Union, the Irish institution wound up on the orders of the Central Bank over bad debt concerns. The NCU’s savings and loans were transferred to Permanent TSB Group (OTCMKTS:ILPMY) in November at a cost of €54 million to taxpayers. Now,...
Ireland’s new insolvency legislations have not worked out as well as the state hoped. Just a fraction of the 15,000 expected to sign up for the arrangements have done so. Thousands say they simply can’t afford the costs. One Wicklow-based PIP (Personal Insolvency Practitioner), Eric Hendy, said fees for...
In its yearly poll, Forbes Magazine has named Ireland the best county in the world to do business. Undoubtedly, a great accolade, as the country becomes the first to exit the Eurozone bailout, but how does that translate into tangible benefits for the people who live there. The green...
Clients of Ireland’s biggest stockbrokers, Davy, will be celebrating the flotation of hotel group Hilton Worldwide Holdings Inc (NYSE:HLT), in New York this week with a price of around €1.8 billion. Around 150 of its clients put $100 million into The Blackstone Group L.P. (NYSE:BX)’s buyout of Hilton Hotels...
Just about everyone has a Smartphone these days, so if you catch someone busily tapping away on a tiny screen while window shopping then you mightn’t think too much of it. However, if you’re a mobile retailer you might have reason to be a little concerned. Statistics show that more...
Despite two profit warnings in as many months, Michael O’Leary is still on course to turn around Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) (LON:RYA)’s public image, while simultaneously growing the airline. As previously suggested, short of acquiring Aer Lingus, there appeared little O’Leary could do to put more bums on...
As banking fees in Ireland continue to rise, it’s estimated that further contraction of the market, due to the withdrawal of ACC and Danske Bank A/S (CPH:DANSKE) (OTCMKTS:DNSKY) from Ireland, will mean a typical household paying upwards of €260 per year for two current accounts. It’s a dramatic change from...
The Irish state’s sell-off of national gas company, Bord Gais, is heating up - if you'll pardon the pun. Under the terms of the EU/IMF bailout, the state must privatize the energy company in order to raise €1 billion to pay off part of the national debt. The main players However,...
Dublin-based mining company, Conroy Gold And Natural Resources Plc (LON:CGNR) is seeking to establish a major gold mine in Clontibret, Co. Monaghan, Ireland. The company’s exploration work has already led to the identification of a new European gold district in Ireland extending some 30 miles across Armagh, Monaghan and Cavan,...
After much unrest in Romania involving some of the biggest protests since the end of communism, a specially created Romanian commission overwhelmingly rejected Gabriel Resources Ltd. (TSE:GBU) (OTCMKTS:GBRRF)’s proposed gold and silver mining project in Rosia Montana. See Seth Klarman Striking Out In Gold And Limestone Mining The company’s stock fell almost...
Ireland is one of the world’s IT hotspots. A highly trained workforce and a host of attractive state incentives have led to some of the biggest technology companies in the globe relocating their facilities to the Emerald Isle. That now looks like it will pay off, both for the...
There could be trouble ahead for Ireland’s TV3 television station as Northern Irish media company UTV recently announced plans to open its own station in the Republic of Ireland that will directly compete with Ireland’s first commercial broadcaster. UTV's deal with ITV The move comes on the back of UTV’s deal...
The announcement that Ulster Bank’s operations in the Republic of Ireland are to be ‘restructured’ has sent shockwaves across the entire banking sector, adding to concerns that owner, Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) (LON:RBS), may have plans to put the third biggest bank in Ireland (after...
4G has been a long time coming to Ireland after a intense struggle between the incumbent telecoms firms over the spectrum licences, but, with the recent, much-heralded launch from Eircom, it’s finally here. Given Smartphone penetration in Ireland, it’s a welcome development. Consumers are crying out for 4G to...
ValueWalk recently investigated the ‘double Irish’ tax avoidance strategy used by international corporations in light of the continued scrutiny by U.S. and European bodies. Now it seems as if Ireland's Minister of Finance, Michael Noonan, is going to do something about it. In his budget speech, Mr. Noonan insisted...
Discount supermarkets, Aldi and Lidl, have shaken up the Irish market since entering in the late 90s and have rapidly expanded with new stores regularly opening at locations all over the country. It’s good news for Irish shoppers, who hit by recession, are discovering that using the German retailers...
Paypal is seen by many as a convenient way to send and receive money online, but it has its critics too, who say fees and exchange rates are too high. A quick search of the Internet will instantly bring up a tirade of complaints from hundreds of unhappy Paypal...
Recently, at Valuewalk, we looked at the causes behind Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) (LON:RYA)’s falling share price and what the airline could do to prevent customers defecting to rival airlines, given greater competition on price and Ryanair’s reputation for horrendous customer service. O’Leary improving Ryanair's customer service Well, now it...
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