| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Taxation

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

 
Content Management by interactivetools.com.

News : Innovation Last Updated: Oct 9, 2015 - 12:32 AM


News : Innovation

The Financial Times says today that 14 US tech & pharma groups, including  Microsoft, Google and Johnson & Johnson, have cut their average tax rate by a quarter over the past eight years as they parked more cash offshore than all other US companies combined. Almost a half trillion dollars in cash is technically held offshore and according to an FT survey, they paid an average overseas tax rate of just 10% last year.

Jun 13, 2014 - 8:52 AM

News : Innovation
The European Commission is set to open a probe of Irish tax breaks that have been available to Apple.
Jun 11, 2014 - 2:16 AM

News : Innovation
Last year a paper [pdf] by the Kauffman Foundation, the leading entrepreneurship think-tank in the US, showed that research universities and other postsecondary institutions are important for metropolitan entrepreneurship, but are not the key catalyst in spurring such activity. Instead, the most fertile source of entrepreneurial spawning is "the population of existing companies, which has implications for economic policymaking and economic development strategies." Meanwhile, the received wisdom on clusters, that physical proximity within city-regions is key for innovation, is also under attack.
Jun 10, 2014 - 6:21 AM

News : Innovation
Machines are starting to slowly replace humans on the battlefield. It’s believed fully autonomous weapons may be ready in 20-30 years. And Switzerland is moving ahead with its own research into mobile robot technology.
Jun 10, 2014 - 2:03 AM

News : Innovation
The area around London's Silicon Roundabout is once again the most prolific area of new business generation in the UK, generating 15,620 new businesses in 2013/14 according to research published Monday -  - some of these startups reflect the trend towards self employment rather than a rise in entrepreneurship.
Jun 9, 2014 - 2:29 PM

News : Innovation
The slash & burn owner of Bausch + Lomb, the contact lens maker, is seeking jobs and pay cuts at its Irish plant in Waterford.
May 30, 2014 - 4:07 AM

News : Innovation
Irish Innovation: Today's announcement from the Enterprise department is a €500,000 Enterprise Ireland Competitive Start Fund targeted at stimulating new start-up business activity for graduates. This fund will provide for up to €50,000 in support for each successful applicant. The fund will open for applications on Wednesday 9th July and closes at 3pm on Wednesday 23rd July 2014. Applicants must have graduated with a FETAC level 8 qualification in the last 3 years.
May 29, 2014 - 4:12 PM

News : Innovation
Apple announced Wednesday that has agreed to acquire the critically acclaimed subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of $3bn, consisting of a purchase price of approximately $2.6bn and approximately $400m that will vest over time -  - the international operations of Beats are owned by a mailbox Irish offshore holding company that is tax-resident in Jersey, the Channel Islands.
May 29, 2014 - 9:34 AM

News : Innovation
Innovation Ireland: The latest announcement from Richard Bruton, enterprise & innovation minister, of the launch of Knowledge Transfer Ireland, provides the possibility of "making it easier to commercialise, and ultimately create jobs from, ideas developed through publicly funded research, which currently receives total funding of over €800m per year."
May 29, 2014 - 7:40 AM

News : Innovation
Announcements were made today that foreign technology companies SAP of Germany, Ericsson of Sweden and Wipro of India are to create almost 500 jobs in Ireland.
May 27, 2014 - 4:52 PM

News : Innovation
HP (Hewlett-Packard Co) plans to cut up to 16,000 jobs as the struggling tech giant flounders in response to changing market trends.
May 23, 2014 - 9:58 AM

News : Innovation
Cloud computing has generated a lot of hype in recent years and the proliferation of smartphone and tablets devices has made many people aware of storage in a 'cloud' but as the use of remote computing grows, the limitations are becoming more obvious and Cisco, the internet infrastructure firm, is promoting what its calls fog computing.
May 22, 2014 - 3:24 AM

News : Innovation
The rate of birth of US startups has almost halved in three decades while in the US and elsewhere, the number of big firms that dominate global business sectors has fallen to a low level in recent times.
May 21, 2014 - 7:09 AM

News : Innovation

Graphene is viewed as a potential wonder material that is derived from graphite and Sir Andre Geim and Sir Kostya Novoselov, Russian-born scientists, who in 2010 had shared the Nobel Prize in Physics, first isolated the one atom thick carbon layer at the University of Manchester in 2004. However a decade later, there are fears that the UK may  lose out on its commercialisation.

May 19, 2014 - 7:21 AM

News : Innovation

Enda Kenny, taoiseach/ prime minister, today launched a new competition to find Ireland’s Best Young Entrepreneur, with a total fund of €2m available to invest in winning businesses and entrepreneurs in every county in the country - - this type of initiative is like something produced by a committee comprised of people in need of vision, tasked with finding new ideas - - in 2010, I had an idea myself: A prize for Failed Irish Entrepreneur of the Year?

May 15, 2014 - 4:55 PM

News : Innovation
Corporate Tax Avoidance: Last week the news that Apple is considering buying Beats Electronics, a maker of expensive headphones that was founded by record mogul Jimmy Iovine and rap artist Dr Dre, for $3.2bn, got a lot of media attention. Dr Dre must have pissed-off Apple when he bragged on video about becoming the “first billionaire in hip-hop” as the hyper-secretive hunter had not concluded the deal while market analysts were largely sceptical. In Ireland Dr Dre had got attention in 2012 when Beats' international  holding company was established in a virtual sense in the coastal town of Clonakilty in southwest Ireland with the tax residency in the British island of Jersey. It has since moved to Dublin where there is expertise to maintain tax-dodging Irish offshore companies as stateless despite an apparent legislative attempt to end this loophole in Irish law late last year.
May 14, 2014 - 3:14 PM

News : Innovation

Thanks to the purchase of millions of emissions reduction certificates in foreign countries, Switzerland has managed to meet its goals under the Kyoto protocol. But do projects in developing countries really benefit the climate?

May 13, 2014 - 11:06 AM

News : Innovation

Up to 90% of US high tech startups fail and this estimate includes both venture capital (VC) backed and other firms that are not able to raise external funding. Meanwhile, with the cost of launching a startup plunging in recent times, it has been suggested that the Silicon Valley system is one of failure by design.

May 13, 2014 - 7:43 AM

News : Innovation
We wrote in 2011 on China's 'indigenous innovation plan' of 2006 to reduce its dependence on the technology of foreign-owned firms and set the country on the road to become a world-class knowledge economy.
May 12, 2014 - 5:29 PM

News : Innovation

It's striking how the tech industry has made the terms 'startup,' 'entrepreneurship' and 'innovation' synonymous with itself in public and policy settings in Ireland and elsewhere, with the help of fawning politicians and technology journalists.

May 12, 2014 - 8:05 AM

News : Innovation
Apple has bought 24 companies in past 18 months, it was recently disclosed, and more deals are likely on the way, with Tim Cook, the CEO,  describing Apple as "on the prowl" for potential acquisitions that make sense. Cook's comments coincide with news reports that Apple is seeking to bolster its streaming-music business with a proposed $3.2bn deal to acquire Beats Electronics LLC, the high-end headphone maker that recently launched the Beats Music subscription service, according to people familiar with the matter - - Beats Electronics LLC is a privately held US firm and Beats Electronics Holding Limited, an Irish offshore tax avoidance company that is domiciled in Jersey, Channel Islands, is the owner of the international operations.
May 9, 2014 - 4:51 PM

News : Innovation
Last November, Snapchat, the then 2-year old developer of a popular mobile messaging app, spurned a purchase offer from Facebook that had valued the firm with no revenues at $3bn, is now facing a reality that a key aspect of its business model has been undermined and it faces 20 years of audits of its privacy obligations by a US federal agency.
May 9, 2014 - 12:06 PM

News : Innovation
Alibaba, China's e-commerce giant, has filed an initial public offering (IPO) document with the US Securities and Exchange Commission (SEC) with plans to raise $1bn.
May 7, 2014 - 7:28 AM

News : Innovation
Intel, the US chip giant, has confirmed that it will upgrade its Kiryat Gat plant in Israel, potentially creating thousands of jobs.
May 2, 2014 - 9:12 AM

News : Innovation
The Irish Government today promised 60 "high end" jobs in Donegal -  - "high end" is added to a lexicon for research jobs that includes "quality jobs" and "high value jobs."
May 1, 2014 - 3:53 PM

News : Innovation
Pfizer's interest in acquiring London-based AstraZeneca, a drugs firm of Swedish origin, is partly motivated by the opportunity to not only cut its annual tax burden but it could use its overseas cash pile of $69bn without likely incurring a tax liability.
Apr 29, 2014 - 11:15 AM

News : Innovation
Oracle, the US business software and computer server giant, booked 27% of its global revenues in Ireland in the fiscal year ending May 31, 2013, to avoid taxes.
Apr 28, 2014 - 8:00 AM

News : Innovation
Google revealed this week that France's tax authority has hit it with a tax demand in respect of underpayments arising from the Double Dutch-Irish corporate tax avoidance scheme. The search engine giant didn't give an estimate of the liability but It may have to pay as much as €1bn.
Apr 27, 2014 - 3:09 PM

News : Innovation

World's Tech-Ready Countries 2014: The latest Global Information Technology Report demonstrates that infrastructure is only half of the battle in creating a networked nation. With 90% of its population online, high levels of technological innovation and the concerted efforts of governments, business and individuals investing in ICT (information and communications technologies), Finland once again tops the ranking of the most network-ready countries in the Global Information Technology Report (GITR) 2014 [pdf] produced by INSEAD, the French business school, the World Economic Forum and Cornell University. Ireland got a 26th rank, up from 27 in 2013.

Apr 24, 2014 - 5:22 AM

News : Innovation
As a research location, Germany has made significant progress over the last few years. The share of R&D expenditure in GDP probably just missed the EU's 3% target in 2012. Despite this positive trend, further efforts are necessary to maintain Germany's competitive position, according to Deutsche Bank economists.
Apr 24, 2014 - 4:26 AM

News : Innovation
What farmer wouldn’t want an insect-resistant pepper? Yet opposition is growing to a pepper patent granted to Swiss agrochemical giant Syngenta. A coalition has stepped up the fight against patents and the threat they pose to farmers everywhere.
Apr 23, 2014 - 2:07 AM

News : Innovation
Google reported rising costs in the first quarter that reduced profits and sent its shares lower in after-hours trading.
Apr 17, 2014 - 9:33 AM

News : Innovation
IBM on Wednesday posted its lowest quarterly revenue in five years, as first quarter revenue fell 4% to $22.5bn, with the company's hardware, software and services business all underperforming. It was also the eighth straight quarter the company failed to show a revenue rise.
Apr 17, 2014 - 8:53 AM

News : Innovation

Munich, London and Paris are Europe's top ICT (Information and communications technology) hubs, with smaller cities such as Darmstadt identified as a leader in a new EU Atlas of ICT hotspots (can take a while to load), that has been produced by the European Commission. This atlas shows where digital technologies thrive and examines the factors contributing to this success.  Dublin has a rank of 16.

Apr 16, 2014 - 8:22 AM

News : Innovation
Switzerland is no longer part of the “Champions League” of European research. Scientists tell swissinfo.ch their future is uncertain following the European Union’s decision to exclude Swiss institutes from funding within its flagship research programme.
Apr 14, 2014 - 1:18 AM

News : Innovation
Apple booked about $100bn in sales through Irish subsidiaries in 2013 but the Irish Government is bizarrely claiming that the Irish incorporated offshore affiliates, which were stateless until a change in Irish law late last year, are not Ireland's concern because trading is not located in Ireland.
Apr 8, 2014 - 7:49 AM

News : Innovation
Ryanair, the principal commercial success of the Celtic Tiger period, today  announced plans to create 200 new jobs here in Ireland, primarily for technology, software development and digital marketing specialists, as , Enda Kenny, taoiseach and Michael Noonan, finance minister, joined David Bonderman, Ryanair chairman,  to officially open Ryanair’s new 100,000 sq.ft Dublin office campus in Airside Business Park, Swords.
Apr 3, 2014 - 1:15 PM

News : Innovation
Richard Tol, the Dutch environmental economist, who left Dublin's ESRI (Economic and Social Research Institute) in 2012 after a dispute about research techniques, has become a dissenting author of the UN's  Intergovernmental Panel on Climate Change (IPCC) latest report published Monday, that says the effects of climate change are already occurring on all continents and across the oceans.
Mar 31, 2014 - 7:00 AM

News : Innovation
One of the most important issues in a new report by the Intergovernmental Panel on Climate Change (IPCC) is the impact on migration flows – a phenomenon not limited to the world’s poorest regions, warns a Swiss migration expert.
Mar 31, 2014 - 6:39 AM

News : Innovation
Intel 25 years in Ireland: Intel the US chip giant's decision in the late 1980s to build a chip plant in Ireland was hugely important and from the early 1990s, Ireland with only 1% of Europe's population, attracted up to 25 % of all US greenfield industrial investment in our continent. The new technology and skills that this inflow brought contributed to a 4% annual increase in output per worker at national level, ie productivity. However, while it's commonly stated by the company itself, politicians, IDA Ireland and the media that Intel employs about 4,500 in Ireland, the actual number is 2,800.
Mar 27, 2014 - 11:27 AM


Latest Headlines
News
Finfacts launches new news site
Strong Swiss franc gloom deepens for exporters
Spain's strong recovery to slow in the next few years
Global investors shift focus to China; EM outflows surge to $1tn in 13 months
Digital Taylorism: Amazon's chief rejects depiction of "soulless, dystopian workplace"
Irish residential rents rise 9% as students face tight market conditions
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Most surviving startups do not grow; Tiny number powers jobs engine
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
Global oil glut will continue into 2016
High EU youth unemployment rate not as bad as it seems
Despite euro dip China & US remain most competitive manufacturing nations
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Stable growth momentum in OECD area but slowing expected in China
Eurozone retail PMI surges to highest since January 2011
Irish construction activity growth eased in July
ECB monetary policy still tight for Southern Europe
US jobs rose by 215,000 in July; Unemployment rate stable at 5.3%
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Prices for major food commodities in July lowest since September 2009
Business startup rates up in most OECD countries led by Australia and UK
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Global manufacturing in July weakest level in two years
Irish manufacturing PMI strong in July
Eurozone manufacturing sector continued to expand in July
US economy grew at weak pace in Q2 2015 - Worst expansion since 1945
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
Irish residential property prices fell in Dublin in June
Analysis/Comment
Disastrous 44-year War on Drugs and ignoring the evidence
HSBC & Tax Evasion: France/ Belgium issued criminal charges; UK/ Ireland nothing
Analysis: Germany world's top surplus economy; UK tops deficit ranks
Facts do not always change minds - can even entrench misinformed
Finfacts changes from 2015
Facts of 2014: Guinness not Irish; 110 people own 35% of Russia's wealth
In defence of dissent and Ireland's nattering nabobs of negativism
Dreams of European Growth: France and Italy facing pre-euro economic problems
Globalization's new normal needs permanent underclass - Part 1
MH17 and Gaza: who is responsible?
Israel vs Palestine: Colonization set for major expansion
Aviva Ireland's 'fund' runs dry and life cover to die for
We wish Martin Shanahan - new IDA Ireland chief - well but...
Ireland as an Organised Hypocrisy is in lots of company
Dr Peter Morici: Friday’s US jobs report won’t alter Fed plans to raise interest rates
Own Goal: Could FIFA have picked worse World Cup hosts?
Ireland: Spin and spending will not save bewildered Coalition
Irish Government parties set for 2-year vote buying spending spree
European Parliament: Vote No. 1 for Diarmuid O'Flynn in Ireland South
Dr Peter Morici: US April jobs report may show 215,000 added in April
Dr Peter Morici: Hardly time to call Obamacare a success
Celtic Tiger RIP: Change in conservative Ireland six years after crash
Dr Peter Morici: Five things to know about the Fed’s obsession with inflation
In age of acronym/ Google, Trinity to rebrand as 'Trinity College, the University of Dublin’
Hoeness case part of ‘painful’ change for Swiss bankers
Dr Peter Morici: The Cold War was only on vacation
Dr Peter Morici: US economy drags on Obama's approval ratings; Don’t look for changes in Washington
Dr Peter Morici: Bitcoin debacle shatters the myth of virtual money
Dr Peter Morici: US Tax Reform: Eliminate the income tax and IRS altogether
Wealth threatens the simple life in Gstaad, Switzerland
Irish journalists get cash payouts over 'homophobic' defamation claim
Irish academics get lavish pension top-ups as private pensions struggle
Dr Peter Morici: Inequality is President Obama’s highest priority, but solutions are naive
The Finfacts Troika: Better times ahead and a hangover to forget?
Dr Peter Morici: Volcker Rule arrives with the hidden jewel in Dodd-Frank financial reforms
Ireland's toothless fiscal watchdog threatens to bark
Analysis: Germany's current account surplus - - Part 2
The end of western affluence?
Bono's hypocrisy on Africa, corporate tax avoidance in Ireland
France like Ireland is run for the benefit of the old
Asia Economy
IMF defers renminbi reserve decision; Devaluations losing firepower
Japan's trade deficit widens and GDP falls despite 33% yen devaluation
China's exports slide in July; Fx reserves dip $42.5bn in month
Chinese manufacturing PMI falls for 5th straight month in July; Japan at 5-month high
China's overseas investments to surge; Ireland got €99m of €46bn invested in EU in 2000-2014
China to overtake US economy in 2026; Income per capita will be 50% of US in 2050
Manufacturing activity in China and Japan contracted in June
China's manufacturing contracted for third straight month in May; Japan in slight rise
Asia accounts for 40% of global output, two-thirds of global growth
China's exports unexpectedly fell in April 2015 after March dip
China's growth in 2015 at slowest since early 2009
China's 2015 foreign trade continues to slide
Singapore remains world’s top location for business on 50th anniversary of independence
China's manufacturing activity fell to a 11-month low in March
China in surprise rate cut to boost sagging economy
Chinese Lunar New Year: Year of the Wood Goat begins this week
China’s manufacturing shrunk in January; Regional rise except Indonesia
Profits of Chinese industrial businesses plunged in 2014
China's growth in 2014 fell to a 24-year low
Services activity in China, Japan and India in moderate rises in December
China’s manufacturing industry remains competitive despite rising wages
China revises 2013 GDP up 3.4% to 56.5% of US economy size
China's manufacturing contracts in December; Japan's grows
China's imports slide in November; Emerging markets slow
Manufacturing PMI stalled in China in November; Fell in Korea, Indonesia , grew in India
China's manufacturing output contracted in November; Japan's accelerated
Ireland not among top 67 destinations for Chinese outbound FDI in 2014
Japan fell into recession in third quarter of 2014
Services slowed in China, contracted in Japan and stagnated in India in October
Manufacturing in South Korea/ Indonesia contracted in October; India in slight rise
Two Chinese manufacturing reports show trading near stagnation levels
Bank of Japan raises money printing target; Spending and wages plunge
China's manufacturing stagnates, Japan in moderate growth
China’s economy in third quarter grew at slowest pace in five years
Chinese exports jump in September; "Sadness will return soon"
World Bank cuts growth forecasts for developing East Asia including China
Japanese business confidence slightly improves; Manufacturing sector weak
Developing Asia remains fastest-growing region in world in 2014
Chinese manufacturing PMI rose slightly in September
Japan reports 26th straight monthly trade deficit; Public debt tops ¥1,000tn