Weekly Round Up, 1 August 2017
Published on Aug 1 2017 10:11 AM
Topaz has had the world’s fastest water car driven up the River Liffey in Dublin, to mark the arrival of Miles, the new fuel brand from Topaz (Circle K Ireland). The Panther, an amphibious vehicle capable of reaching top speeds of 130kmph on land and 72kmph on water, took to the water and sped up the Liffey to the Ha'penny Bridge, with European Masters Wakeboarding Champion, Peter Stewart, in tow.
Dublin-based services provider, Noonan has been acquired by South African company Bidvest. According to Fora.ie, Bidvest bought Noonan in a deal worth €175 million, subject to approval by South Africa’s central bank.
Independent News And Media has warned that newspapers will shut down and jobs will be lost unless there is more consolidation in the sector. The Irish Independent writes that INM, has also said that ‘future media merger transactions could be deterred owing to the lack of what it describes as a “fit-for-purpose” regulatory process, saying that the current system is too costly and “takes far too much time”’.
Revenue Officers executed a search warrant at premises at Ravensdale in Co. Louth last week, which was found to be retailing laundered fuel. The officers seized approximately 2,500 litres of laundered mineral oil, a fuel dispensing pump, an electricity generator, a large fuel storage tank, a van and four cars.
The US Foods and Drinks Administration (FDA) is looking at cutting nicotine in cigarettes to non-addictive levels, reports Bloomberg. FDA Commissioner Scott Gottlieb commented to Bloomberg, “We were thinking about, or thought we could, potentially reduce levels of nicotine to create that inflection point in public health, taking a new balanced approach to new product innovations could make a lot of sense and help people transfer off cigarettes.”
The identity of 18 New Zealand wine regions will now be better protected by the New Zealand Geographical Indications (Wine and Spirits) Registration Act, which comes into force this week. The Geographical Indications (Wine and Spirits) Registration Act formally recognises the collective intellectual property of a wine region by allowing for registration of the region’s name as a GI.
British dairy company Dale Farm has reported its annual results, with profit before tax increasing 16% from £6.8 million to £7.9 million and overall group turnover growing by 5.1% to £389 million. It says that a major focus for the dairy company is now to drive its ice-cream brand presence in the Republic of Ireland.
Pre-tax profits for Ferrero’s Irish operations in Cork last year decreased by 3pc to €2.7 million. Independent.is reports that revenues fell by 49% from €55.5 million to €28.6 million in the 12 months to the end of August last at Ferrero Ireland Ltd, which makes Tic Tac sweets. However, the figures also show that despite the firm's income dropping, numbers employed last year increased from 238 to 262.
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