Morning business news - July 15

Tuesday 15 July 2014 11.29
Morning business news - July 15
Morning business news - July 15

According to Bord Gáis Networks safety personnel lives are being put at risk by illegal tampering with gas meters, as people try to save on fuel bills.

More than 500 cases of illegal tampering with gas meters have been detected since last September, with 90 of those being confirmed in the last six weeks. 

Counties involved include Dublin, Meath, Kildare, Cork, Waterford and Louth.

According to Owen Wilson, safety officer at Bord Gáis Networks, there are a number of different ways that meters are being tampered with but all of them involve some kind of damage being done.

He said the tampering is being done by individuals, as well as those offering it as a service

“It’s being done by individual people, and there are also people going around offering to tamper with people’s meters for a flat fee,” he said.

“We do tend to see it in neighbourhoods or discreet areas.”

Mr Wilson said they have had 500 detections since September, and he is confident the company will detect all cases of tampering “in due course”.

In the meantime, however, he urged people not to tamper with their meters as doing so can lead to a gas leak, which in turn could cause serious damage or death.

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Robert Pitt has been named Group Chief Executive Officer of Independent News & Media. He will take up his role this autumn. 

For the last two years Robert Pitt has been Chief Operations Officer of Tesco Czech Republic. He has also worked at Lidl in the Czech Republic, Slovakia and Ireland; and at Shibo in Beijing.  

He takes over from Vincent Crowley, who stepped down as the Company's CEO in May. 

Leslie Buckley, Independent's chairman said the news publishing sector faces many challenges and Robert Pitt - whose experience includes change-management and digital strategy - is well equipped to lead INM into the future.
 
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Property investment company Hibernia REIT is to buy Guild House and Commerzbank House in Dublin's IFSC for €90.74m in its biggest deal yet. 

The purchase will be its 9th since listing on the stock exchange, and it will have spent €337m, or 91% of the proceeds it raised in December 2013.

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Manchester United has signed a record shirt deal after landing a £750m tie-up with German sportswear group Adidas. 
 
The deal guarantees the English club at least £75m a year for the next 10 years - more than three times the £23.5m Nike had paid for the team's current deal.
 
And it's more than double the £31m, eight-year deal under which Adidas makes and sells Real Madrid's shirts. The agreement gives Adidas the exclusive right to distribute Adidas and Man Utd dual branded products around the world.

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Yesterday shares in Shire, the Dublin-based British drugs group, hit a record high after its board said it was ready to recommend a new £31bn offer from US firm AbbVie. Shire said it was ready to recommend the deal, the latest in a list of mergers proposed by US firms looking to cut their tax bills, and which comes less than seven weeks after the collapse of Pfizer Inc's 69.08 billion pound bid for AstraZeneca Plc.

Chicago-based AbbVie, which wants to buy Shire to cut its tax bill and diversify its product line-up, increased its offer to 53 pounds and 20 pence a share on Sunday, following a request from the Dublin-based group which had rejected four previous bids.