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Did You Know? October 21, 2014

By Publications Checkout
Did You Know? October 21, 2014

Did you know… Wicklow Rapeseed Oil will launch its new range of Rapeseed Oil with Lemon & Rapeseed Oil with Chilli at the upcoming National Crafts & Design Fair? Wicklow Rapeseed Oil will be exhibiting its full range of Rapeseed Oils, which includes garlic and regular oil, at the Christmas Food Emporium and will have a special “Christmas Gift Pack” available. The company offers a combination the flavours as part of a gift set. This year's National Craft Fair will be home to over 500 exhibitors and thousands of gift ideas at the RDS, Dublin from the 3-7 December. In particular, the “Spectacular Christmas Food Emporium” will feature over 100 artisan food producers showcasing the best of the season’s offerings.

Did you know… Investec, the South African bank finance unit, has reportedly launched High Court proceedings against Topaz fuel retailer? According to the Sunday Times, Investec is claiming breach of contract in relation to the financial restructuring of the Topaz group, which included working on a solution to refinance the group’s €304 million loans from IRBC, the former Anglo Irish bank. When the loans were put on the market, billionaire Denis O’Brien acquired Topaz, however Topaz is expected to argue that Investec played no part in this acquisition.

Did you know… A study carried out by the 'Ben’s Beginners' Programme, an initiative of Uncle Ben’s Ireland, has revealed that the majority of children under the seven years old cannot correctly identify common vegetables? Almost one third of the children involved in the study failed to recognise a red pepper, while 85% could not name a leek. Meanwhile, most could identify broccoli, although only one in three knew what chips were made from. The Ben’s Beginners programme was set up to encourage parents to involve children in meal preparation. It has found that only 14% of children help with the evening meal, with parents citing time pressure as the main reason for making dinner themselves. However, given the chance, 79% of children would like to cook more. The Ben’s Beginner’s initiative is supported by former rugby great, Ronan O’Gara, promoting the importance of cooking healthy meals for children. O’Gara joined television chef Phelim Byrne to create a series of recipes to get families cooking together.

Did you know… SuperValu accidentally sent a text to customers offering them a deal on a “frozen bast*rd turkey” instead of basted turkey? In a statement, the retailer apologised for the ‘misspelling’, explaining: “This was a genuine mistake and not intended to cause any offence. An apology text message was issued to all customers in question to reassure them that this was a genuine error.”

Did you know… Over 500 small business owners and managers attended a ‘one-stop-shop’ event for SMEs, ‘Taking Care of Business’ in the Printworks, Dublin Castle, on October 16? The free half day event was organised by the Department of Jobs, Enterprise and Innovation, in order to provide people considering starting a business and existing entrepreneurs the information then need from across the public sector. There were over 27 state bodies present, with over 80 presentations given and information stands manned by experts who spoke directly to attendees. The Minister for Jobs, Enterprise and Innovation, Richard Bruton T.D. spoke at the event, commenting: “‘Taking Care of Business’ is part of a wider effort to communicate better with business and promote awareness and understanding of the full range of Government supports that are available for start-ups and the SME sector. This event will allow small business owners to informally ask questions and get advice from a diverse mix of government agencies.”

Did you know… Paddy Power have named The Printed Image as its official Irish print supplier? The contract covers areas such as retail point of sale display and marketing collateral. The Printed Image already works with a number of leading FMCG suppliers, including Coca-Cola, Bulmers, Mondelez and GSK. Colin Culiton, CEO of the Printed Image said, “I believe that the brand values of both organisations are a perfect match i.e. fun, fair and friendly.”

Did you know… Cutrale-Safra has offered $14 in cash per Chiquita share in a last-ditch attempt to take over the US fruit firm before it merges with Fyffes? This offer, which is $1 more than the firm had previously offered, values Chiquita at $658 million and is around a 40% premium to Chiquita’s closing price at the beginning of August. However, this may not be enough to guarantee Cutrale-Safa’s success, according to Goodbody Stockbrokers’ Analyst, Patrick Higgins, who spoke to the Irish Independent. Higgins said, “We do not think the $1 increase is sufficient and still feel that the merger is a more attractive proposition for shareholders. In any case, we do not believe this offer blows the Fyffes transaction out of the picture like the sell-off in Fyffes' share price would suggest.” Merrion Stockbrokers has also questioned the effectiveness of Cutrale-Safra’s upgraded offer to terminate the Fyffes-Chiquita merger. It said the offer is "significantly below an offer in excess of $16, which we felt would be required to match the economics of the Fyffes-Chiquita deal".

Did you know… Former Unilever CEO, Niall Fitzgerald, has assumed the chair of the UCD Michael Smurfit Graduation Business School Advisory Board, as of this month? Fitzgerald succeeds Paul Haran, who held the chair since 2005. Fitzgerald has 37 years of executive experience with Unilever, acting as chair and CEO from 1996-2004, and has worked in many countries around the world. He has chaired a broad range of companies and public bodies, including: Reuters, Hakluyt and the Nelson Mandela Legacy Trust, as well as serving on the boards of Bank of Ireland, Ericsson and the World Economic Forum, to name a few. Professor Ciarán Ó hÓgartaigh, dean UCD Business commented on Fitzgerald’s appointment, saying his appointment reflected UCD’s international ambition for its students: “Like Niall, they must compete with graduates of the best business schools in the world – and therefore so do we. He will serve as a role model for our students and his insights and experience will be invaluable to us as we seek to further develop the School's reputation and reach.”

Did you know… Bank of Ireland has ssaid that SME lending has increased by nearly one fifth over the past nine months? The bank has a market share of over 50% (excluding property loans), making it Ireland’s biggest lender to small and medium businesses. Michael Lauhoff, head of the bank’s business banking growth unit, told the Irish Independent that lending is still far from its pre-recession peak levels. However, he added: “peak figures were artificially high. And what is important is that we are seeing really consistent growth both in loan applications and approvals, month after month”. The bank said that it has loaned a total of €3.2 billion to SMEs and farmers in the nine months to September, a growth of 18% from the same period a year before, though this figure only comprises of new credit approvals.

© 2014 - Checkout Magazine by Genna Patterson and Emily Horne.

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