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News : International Last Updated: Nov 5, 2013 - 9:37 AM


Tuesday Newspaper Review - Irish Business News and International Stories - - November 05, 2013
By Finfacts Team
Nov 5, 2013 - 9:33 AM

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Irish Independent

Google employees have been confessing the worst thing about working at the company on an open thread including complaints about an excess of play areas and poor management.

Current and former Google employees have been posting their pet peeves on sharing site Quora, Business Insider reports.

According to an anonymous user, one of the major downsides about working for the tech giant is that many people are overqualified for their jobs.

They write: "Google has a very high hiring bar due to the strength of the brand name, the pay and perks, and the very positive work culture. As a result, they have their pick of bright candidates, even for the most low-level roles."

As a result, the user says current and former Google employees have been posting their pet peeves on sharing site Quora, Business Insider reports.

According to an anonymous user, one of the major downsides about working for the tech giant is that many people are overqualified for their jobs.

They write: "Google has a very high hiring bar due to the strength of the brand name, the pay and perks, and the very positive work culture. As a result, they have their pick of bright candidates, even for the most low-level roles."

As a result, the user says, it is hard to get promoted quickly and the work is not always intellectually rewarding which results in some Google workers losing their drive.

Twitter boosted the price range for its initial public offering to $23 to $25 per share, as the microblogging network now seeks to raise up to $1.75bn (€1.29bn).

The previous range was $17 to $20 per share.

Twitter also said it had received a letter from IBM alleging Twitter infringed at least three US patents held by the computer giant.

With Twitter selling 70 million shares in the offering, the company would be valued at more than $13bn under the new price range.

Twitter's IPO is fully subscribed, meaning it has attracted more than enough investor interest, according to a source.

RYANAIR is ending the on-board scramble for seats, and passengers can also expect cheaper fares as the airline warns its profits will be lower than expected this year.

The carrier said that from February 1, passengers who have not paid to pick and reserve a seat will be simply allocated one 24 hours before departure.

The move was sparked by the Tell MOL (Michael O'Leary) campaign, where customers were encouraged to go online and highlight improvements in a bid to boost the airline's customer service image.

But there is no guarantee that families or groups who do not pay for seats in advance will be able to sit together. Instead they will be automatically allocated their spots on the plane.

TV3 said earnings before interest, taxes, depreciation, and amortisation rose 5.4pc to €5.8m last year despite falling sales.

The rise in EBITDA followed a 1.8pc decline in sales to €57.6m as advertising slumped across the industry.

Operating profit at the station which broadcasts 'Coronation Street', 'Xpose' and 'Ireland AM' jumped 55pc to €1.4m as TV3 benefited from new rules in the broadcasting industry.

Irish Times

The Coalition parties remain at odds ahead of today’s Cabinet meeting over how to resolve the controversy surrounding the requirement for early payment of the 2014 property tax by people using credit or debit cards.

Minister for Finance Michael Noonan met the chairman of the Revenue Commissioners Josephine Feehily last night.

He said the meeting was intended to agree on how best to clear up the confusion caused to householders.

The question of compensation for restaurant businesses affected by water restrictions in Dublin “will not arise”, city engineer Michael Phillips has said.

Mr Philips confirmed today that about two thirds of lost production at the Ballymore Eustace water treatment plant in Co Kildare had been recovered.

He said it was “looking very positive” that full production could be restored by Thursday Morning and said Dublin City Council would consider lifting the nightly restrictions at that stage.

What do we talk about when we talk about design? Discussion of it is often confined to the lifestyle sections of our newspapers: attractive furniture and pleasantly uncluttered living spaces speak to certain aspirations as to how we might live our lives.

But design is about more than aesthetics and gloss and has a critical role to play in delivering innovation, economic growth and value for money. It can also deliver a fairer and more engaged society.

Design has been the Cinderella of the policymaking process in Ireland for too long.

Aer Lingus has reported a third quarter operating profit of €94.9 million, up 4.4 per cent on the previous year despite challenging conditions.

Total Aer Lingus revenue for the third quarter was up 1.2 per cent to €466.3 million, whilst operating costs were effectively managed, increasing by only 0.4 per cent to €371.4 million.

The airline said short haul passenger volumes were “negatively affected by the good Irish summer weather” dropping 2.8 per cent to 2.568 million, while the load factor dropped 1.7 percentage points to 82 per cent.

Irish Examiner

A fast-track and free mortgage arrears process that aims to deliver favourable solutions for up to 10,000 distressed mortgage holders could help hundreds in arrears avoid repossession.

The groundbreaking initiative which links AIB with the Irish Mortgage Holders Organisation (IMHO) has been described as a lifeline for distressed mortgage holders.

The IMHO has urged all other major banks to replicate the initiative. It aims to help between 8,000 and 10,000 distressed AIB borrowers work out long-term sustainable solutions without having to engage directly with AIB, which includes EBS and Haven.

If other banks follow with similar schemes, it could help tens of thousands of mortgage holders in arrears.

Europe

Presseurop: European Parliament President Martin Schulz wants to succeed José Manuel Barroso at the head of the Commission. He has based his campaign on the idea that job should be handed to the leader of the party that wins the European elections – an idea that does not have everyone's backing.

Philippe Ricard writes in Le Monde: "It’s hard to say whether Martin Schulz has the slightest chance of becoming President of the European Commission in the wake of the European elections in May 2014 [he announced his candidature on November 3]. But he is making a creed out of it. For the President of the European Parliament, the appointment of the successor to José Manuel Barroso must be “po-lit-i-cised”.

Letting the different parties personalise the campaign, the German Social Democrat is sure, would be the best way to make up for some of the democratic deficit that has seen so much criticism flung at the European Union. To choose a leader, or “top candidate”, capable of fighting in the four corners of the continent for a programme backed by his political grouping would, according to the “Mr Europe” of the SPD, turn out to be the panacea to try to appeal to voters at a time when the extremist parties are likely to make strong showings.

Putting his words into action, Mr Schulz has not waited long to engage in battle on behalf of the Socialists, for whom, if there are no surprises, he should be carrying the flag against the right and the populists of every hue. The Greens, which Daniel Cohn-Bendit is about to abandon, are also part of this logic. They are even trying to organise primaries on the Internet by the end of the year; to carry them out, José Bové of France has linked up with a German ecologist that he crossed paths with more than 30 years ago on the Larzac plateau. Meanwhile the radical left is contemplating choosing as their poster boy the Greek Alexis Tsipras, basher of austerity and the “Men in Black” of the troika sent to Greece by the moneylenders. Among the liberals, several candidates have been lined up, including Olli Rehn, Commissioner for Economic Affairs, and Guy Verhofstadt, one of the federalist figures of the outgoing Parliament."

Euro Topics: Paris and Berlin are seeking bilateral no-spy agreements with the US in the spying scandal. Germany and Brazil also submitted a draft for an anti-espionage resolution to the UN on Friday. Europe must now crank up the pressure on the US, some commentators demand. Others observe that Europe's politicians once condoned the spying themselves in the fight against terror.

Europe is nice and harmless: A "no spy" agreement with the US won't do any good. Germany and Europe must start putting the US under real pressure, the German news magazine Der Spiegel writes: "If a little country is humiliated by a big one, it shouldn't ask the big one to stop humiliating it. Terrorists have a weapon against the US. Iran has one too; it can threaten Israel. China has a weapon; its huge foreign currency reserves. Europe, by contrast, is nice and harmless. Europe doesn't dare annoy anyone. ... A real step would be to create a free trade zone with Russia or China or Mercosur, the South American customs union, or to start levying customs on US exports. ... And a really impressive, ergo risky and self-assertive step would be to offer Edward Snowden asylum. ... That would carry the risk of further exposure for the US, and that's precisely the kind of pressure this whole thing is about."

Black clouds over the French economy: As many as 30,000 people demonstrated in Brittany on the weekend against economic decline in the region and for an end to the planned ecotax. The regional paper L'Est Républicain believes the government has lost control of the social situation: "After a relatively calm summer, thick black clouds are once again darkening the economic horizon. Last week was marked by the announcement of new redundancy plans. Thousands of industrial jobs are threatened. The crisis is making itself felt everywhere, even in Brittany, which had given the left its best electoral results. ... In this suffocating climate the government seems at a loss for initiatives and incapable of giving any clear orientation to an increasingly confused pubic that longs for change. Worse, in back-pedalling on the ecotax it has given the impression that it wants to put out the Breton fire before it spreads."

Absurd fears of civil war in Greece: After two members of the neo-Nazi Golden Dawn party were shot dead in Athens on Friday, fears of an escalation in politically motivated violence are growing in Greece. The online portal Protagon finds fears of civil war absurd: "The right and left have two major parties that coexist in harmony. ... So the country is by no means in danger of sliding into a civil war, as some idiots are predicting. People should choose their words carefully, even though some may be genuinely worried. The country has other problems to worry about: high youth unemployment, the imminent collapse of the social security system and the total lack of development perspectives. But above all Greece is threatened by those who do nothing to change this ominous situation and who avoid telling the Greek citizens the whole truth."

Europe's left lacks charismatic leaders: Europe's left has not been blessed with charismatic leaders, the left-leaning Czech daily Pravda commenting on the leader of the victorious Social Democrats in the Czech parliamentary election, Bohuslav Sobotka, and his internal party opponents: "Naturally, politicians like Bruno Kreisky, Willy Brandt or François Mitterrand aren't born too often. And they too had their adversaries. But they were authorities in their parties and were popular also among the leftist voters abroad. Who in Europe knows anything about Werner Faymann or Frank-Walter Steinmeier today? Even if the Social Democrats in Austria or Germany are now seeking coalition governments, their results in the September elections were among the worst in history. François Hollande may still be president but his popularity with the voters has sunk dramatically. As long as the Social Democrats programmatically present themselves at best as coalition partners no Superman will come along to save them."

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