Iconic Dublin department store, Arnotts, has been taken over jointly by Anglo Irish Bank and Ulster Bank follwing the company’s difficulties in repaying loans believed to be in the region of €250million.
Anglo Irish Bank, which is in state ownership, has sought permission from the European Union to initiate the move under EU rules. A deadline of 9 August for objections to the move has been set.
It is understood that none of the 950 jobs at Arnotts is under threat and that the store, located on Henry Street in Dublin, is trading well.
The business focused social networking site, LinkedIn, is to base its international headquarters in Ireland.
LinkedIn has said it will spearhead its international growth from a new base in Dublin, working with teams in its existing european offices in London and Amsterdam.
LinkedIn claims 60 million members worldwide, and the Silicon Valley based company said now was the right time to establish headquarters for international operations.
“Being based in Dublin gives us access to a highly skilled workforce and enables us to co-ordinate our business growth across Europe and beyond to deliver the best possible service to our members,” Kevin Ayres, managing director of LinkedIn Europe, said in a statement
The Carlsberg Comedy Carnival kicks off in Dublin’s Iveagh Gardens on Thursday of next week and runs to Sunday night. The carnival takes place across 4 marquees in the Walled Garden setting off Harcourt street.
The entertainment will be kicked off by Des Bishop, David O’Doherty, PJ Gallagher and David McSavage who take to the stgae throughout the weekend along with 59 others from Ireland’s vibrant comedy scene.
The future of British drinks maker Diageo Plc’s planned Leixlip brewery is under threat after the brewer announced yesterday that it plans to ‘re-evaluate’ it’s €650 million euro ($865 million) investment program for County Kildare in light of the economic downturn.
Diageo said last year it would build the new brewery while cutting output and selling surplus land at St James’s Gate in Dublin, where Arthur Guinness started brewing Guinness Stout 250 years ago in 1759.
The recent collapse of land values has resulted in the potential benefit from selling the centre city land in Dublin City being considerably reduced.
It is being reported in this morning’s Irish Times that Guinness’ parent company Diageo has chosen a site near Leixlip in County Kildare for its €550m new facility that will brew exclusively for the export market.