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Thursday Newspaper Review - Irish Business News and International Stories - - August 14, 2014
By Finfacts Team
Aug 14, 2014 - 9:43 AM
A captain lost control of a passenger plane after his artificial
arm became detached as he was coming in to land, an accident report has said.
The detachment, on a Flybe flight from Birmingham, came as the Dash 8 aircraft,
with 47 passengers on board, was approaching Belfast City Airport in gusty
Shortly before, the 46-year-old pilot had checked that his prosthetic lower left
arm was securely attached to the yoke clamp which he used to fly the aircraft,
with the latching device in place.
The Air Accidents Investigation Branch (AAIB) report said the captain had
disconnected the autopilot and was flying the aircraft manually.
THE doomed bid to build a national children's hospital on the
Mater Hospital campus has squandered nearly €40m of taxpayers' money.
The catalogue of waste is revealed in the financial report of the development
board set up to oversee the long-delayed project, which is now expected to be
built on the site of St James's Hospital instead.
Comptroller and Auditor General Seamus McCarthy, who examined the 2012 accounts,
said that "arising from the government decision to change the location of the
hospital", it is likely that these €40m assets "are now impaired".
Fyffes is pushing ahead with its process to merge with Chiquita,
despite this week’s shock rival bid for the US banana company.
Yesterday Irish fruit group Fyffes began posting proxy forms to shareholders –
as well a prospectus for the combined companies – ahead of a shareholder ballot
called for September 17 to approve the deal.
In March Chiquita and Fyffes agreed to merge in a deal to create the world’s
biggest banana supplier.
But on Monday that deal appeared to have hit the rocks, after Chiquita received
a surprise $610.5m (€456m) joint offer from Brazilian financier Safra and
The Brazilian deal values Chiquita at 30pc more than the deal with Fyffes, and
the US company has been given until tomorrow to respond.
Michael O’Flynn was in conciliatory form when he emerged from the
High Court about 2.30pm yesterday.
He was pleased he had won his case hands down against a subsidiary of the
Blackstone Group, an American investment giant with assets under management of
In a 74-page judgment Ms Justice Mary Irvine ruled in his favour, and was
frequently critical of his opponent Blackstone subsidiary Carbon Finance.
Similar to other Silicon Valley tech companies, Apple has a
workforce that is composed mostly of men, and most of them are white.
The company this week published statistics on the makeup of its workforce of
98,000 employees in terms of race, ethnicity and sex. It said 30 per cent of its
employees worldwide were women. In the United States, where Apple is based, 55
per cent of the employees are white, 15 per cent are Asian, 11 per cent are
Hispanic and only 7 per cent are black.
Apple joins a number of American firms, including Google, Facebook and Twitter,
that have recently released so-called diversity reports in response to pressure
from the civil rights activist the Rev Jesse L Jackson, who has called on tech
companies to release this data about their workforces.
Apple’s report shows it is slightly more diverse than other tech giants, at
least in terms of ethnicity. Apple’s percentage of white American workers (55
per cent) is lower than Google’s (61 per cent), Twitter’s (59 per cent) and
Facebook’s (57 per cent).
The phasing out of contentious elements of Ireland’s corporation
tax regime must be done in tandem with changes in other countries so as not to
put Ireland at a competitive disadvantage, the American Chamber of Commerce
Ireland has warned.
In a recent submission to the Department for Finance, the chamber, which
represents US employers here, acknowledged the Government’s wish to ensure that
Ireland’s tax regime is seen as “fair” internationally. However, it said there
were a variety of views over the timing of any moves to change Ireland’s
corporate residency rules.
The contribution comes in advance of recommendations from the Organisation for
Economic Co-operation and Development (OECD), which are likely to seek an
overhaul of the international tax rules.
Affordable and sustainable repayment schedules are required to
protect vulnerable consumers should a proposed state debt collection agency be
Public Expenditure Minister, Brendan Howlin has conducted a review of debt
collection systems in the HSE, the Courts Service, local authorities and the
Departments of Social Protection and Agriculture to identify potential savings
that could be derived from the establishment of a central debt collection
The report compiled by Mr Howlin’s Department outlines how more than €230m could
be recouped from such a system but debt expert Michael Culloty of the Money
Advice and Budgeting Service (MABS) says that any such organisation must take
the needs of vulnerable debtors into account and ensure that they are provided
with an affordable repayment schedule.
Euro Topics: West shows
total ignorance: Ebola also poses a threat to the Western world, which must
finally end its ignorance about the virus, the liberal Belgian daily Le Soir
demands: "In the beginning the hopeless cases were the 'others'. They
were far away, poor, ignorant and superstitious. They didn't stand a chance
against the Ebola virus and for four decades quarantine was the only medicine.
We let them die without even sparing a word for them. ... Very little research
was carried out because there was no profit to be made and it produced next to
no results. Why should we worry about those who live on the other side of the
world, in neglected regions torn by incomprehensible wars? How can we fail to
understand that the victims of Ebola and other inadequately combated diseases
are our neighbours who come to us by road and in airplanes, and among whom we
spend relaxing holidays?"
Virus must be fought at its roots:
The first European to be infected in the Ebola epidemic raging through West
Africa died on Tuesday. The Spanish missionary Miguel Pajares had been working
in Nigeria with an NGO offering assistance to victims of the
epidemic, which has claimed over 1000 lives since February. The left-liberal
Spanish daily El País calls for an internationally coordinated campaign against
the deadly virus: "The situation is so serious that the WHO's ethics panel has
ruled that it is 'not only ethical, but a moral imperative' to try out on humans
any method of treatment that has shown any kind of efficacy in animal tests.
Never has international cooperation been more vital to prevent the spread of the
epidemic in West Africa. This extremely dangerous virus must be fought at its
roots in its places of origin."
Robin Williams' suicide typical for
society: People only talk about the taboo topic of suicide when celebrities like
US actor Robin Williams kill themselves, the liberal German Tagesspiegel
laments: "More than 10,000 people take their own lives
every year in Germany. That is almost three times the number of those who die in
traffic accidents every year. … Victims of acts of violence, disasters, and Aids
deaths - none of this compares with the suicide rate. And this is in a country
which is not stricken by hunger or war, and in which the health system is in a
passable state. But no one speaks up about it; there's no public debate on the
subject. Suicide is the last taboo issue in modern society. … 'Freitod'
(literally free death) - a word that was linked with the work of Friedrich
Nietzsche and was banned by the Nazis - is still regarded as something unlawful,
sinful, even criminal. … Suicides do not happen on the margins of society, but
right in its midst."
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