Weekly Round-Up, August 5, 2015
Published on Aug 5 2015 7:51 AM
The Sunday Times has reported that Independent News & Media (INM) is preparing a balance sheet overhaul, designed to let it restart paying dividends to its shareholders for the first time since before the financial crash. A proposed capital-restructuring plan could see INM left with a surplus of €21 million to allow for the payment of future dividends.
Representatives from SIPTU has met with workers in Kerry Spring Water, following the announcement last Friday that the business has gone into liquidation. The company, based in Kerry, employs 14 people. SIPTU Sector Organiser, John Dunne, said, “This is a very difficult time for our members in Kerry Spring Water and their families. In light of the communication from the liquidator there is a degree of hope for the future of the company.”
Compass Group Ireland has announced the winners of this year’s Idea Works, with Galway-based Airam Foods (gourmet pies), Secret Recipe from Cork (soup), and Carlow-based CBL Equipment taking the honours. The winners will now work with Compass Group Ireland to further develop their products, ahead of potentially trialling them in select Compass Group Ireland units.
ISME has warned that a growing black economy in this country could be worth as much as €25 billion, meaning a loss of €5 billion in unpaid taxes. The association called for extra efforts by Revenue and Gardai in dealing with rogue traders. “Turning a blind eye to illegitimate trade is still part of our culture and must change to protect jobs and businesses,” said ISME chief executive Mark Fielding. “A national campaign to inform people of the cost of illicit trade is a priority.”
Revenue has petitioned for the wind up of Nine One One Retail, which ran food outlets at 32 Esso stations, all of which were recently acquired by Topaz. The Sunday Times reported that a High Court Petition will be heard on August 6, while the company has called a creditors meeting for August 11.
Keen Nutrition has announced its four new Nut Butter flavours for this autumn as Almond Chai, Brazil Coconut with Dark Chocolate, Cashew Maple Toasted Praline, and Almond Pecan and Maple. The new flavours will be made in the same way as Keen Nutrition's existing range, with no added sugar, salt or oil.
Farmers in Northern Ireland have cleared the shelves of milk in a Tesco in Banbridge this week, as a protest against weakening milk prices. Nearly a dozen dairy farmers took every litre and carton of milk in the store, even stopping shoppers from buying any. The milk was brought to the checkouts and left there, rather than being stolen from the shop.
Chicken producer Manor Farm has announced its participation in this year’s Taste of Cavan, taking place across August 7 and 8. The brand’s nutritionist, Caroline Cummins and butchery specialist Shay O’Connor will host five live cookery demonstrations on how to prepare simple, tasty and healthy chicken dishes.
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