Three quarters of Irish people believe US firms are crucial to Ireland's future. Research carried out by polling company Red C on behalf of the American Chamber of Commerce put talent as the number one factor attracting foreign firms to locate in Ireland.
Mark Redmond, chief executive of the chamber, says the leaders in Irish operations of US companies put talent "absolutely number one" for their reason in coming here, with infrastructure and innovation a close second and third. He says the chamber wanted to get an independent measurement of people's views on this issue, adding that it was great to see that the general public agreed with the bosses of the US companies here. Three out of four people surveyed believe that US companies are critical to Ireland's future, while 70% agreed that talent is the number one factor in attracting US firms here, Mr Redmond explains.
But six out of ten of those surveyed actually underestimated how successful we have been in attracting foreign companies here and underestimated how many jobs such companies have created here. Those surveyed thought that less than 100,000 jobs were created by US companies here, while the true figure is 140,000 direct jobs and another 100,000 indirect jobs, he states.
Despite the country's successes in getting things right, Mr Redmond says there are some things we have to continue to work at - and tax is one of these issues. He says that what the Chamber is seeing is an increasing challenge for the employers here - competing on the world stage - to attract and retain the talent that is needed to fill the great job opportunities that are coming here. "We are getting uncompetitive and particularly at the €70,000 plus income level, we are finding it more challenging to compete with other countries in that global talent battle," he states.
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MORNING BRIEFS - The state of California is preparing to take enforcement action against carmaker Volkswagen over what has been dubbed the "diesel dupe" scandal. One in seven of the cars sold by Volkswagen, which it now admits were fitted with a device aimed at cheating emissions test, were sold in California. Mary Nichols, chair of the California Air Resources Board, said it was too soon to say what penalties would be levied against the company. The US Environmental Protection Agency which first revealed Volkswagen's wrongdoing earlier this week is also taking enforcement action. It has mentioned a figure of up to $18 billion in fines. Volkswagen has, to date, set aside €6.5 billion to cover the cost of claims. The company's chief executive Martin Winterkorn resigned over the scandal. Volkswagen's board is meeting today to consider possible replacements. Matthias Muller, the current chief executive of Porsche, is the favourite for the job.
*** Denis O'Brien's Caribbean mobile group Digicel has told investors it plans to spend up to $400m on acquisitions following its listing on the New York Stock Exchange. The initial offering of shares to the public - expected to take place in early October - aims to raise up to $1.7 billion and will value Digicel at $10 billion. The mobile network operator has told investors its aim is to become a more diversified communications company delivering broadband internet, television and other services.
*** Ireland is among nine countries to which fashion retailer H&M plans to roll out its online shopping service in the coming year. H&M also preparing to open around 400 new shops around the world this year.
