TURMOIL NOT SUCH BAD NEWS FOR NORKOM - Fraud-busting and anti-money laundering software company Norkom sells its products to the big banks. In the 12 months to the end of March it saw its sales increase 64% to €41m. Pre-tax profits increased by around €500,000 to €4.88m in a year when the company spent more than $30m on competitor company Digital Harbor.
Chief executive Paul Kerley said that it had been a stressful time for banks, but poor risk systems had been in the background of the financial crisis, and banks had to put more into investing in this area.
Mr Kerley said the acquisition of Digital Harbor had lifted its American performance, while had been very successful in launching a business in the Asia-Pacific region.
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APPLE LAUNCHES 'BEAUTIFUL' NEW IPHONE - In San Francisco yesterday, Apple chief executive Steve Jobs launched the iPhone 3G - or the 3G iPhone - after a bumpy start with its 2G phone at the hands of the critics. Corporate hopes are high that the third generation model will present serious competition to the Blackberry on this side of the Atlantic. Mr Jobs described the new phone as 'beautiful'.
BBC Technology Reporter Maggie Shiels, who was at the event, said the new phone was twice as fast, half the price of the 2G phone and thinner. She said the main talking point at the conference was the price - $200 compared with the previous $400.
Ms Shiels described the new iPhone as having good images and good graphics, and as 'hip and cool'.
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BUILDER CONFIDENT ON WATERFORD PLAN - In Waterford later today, developers will lodge planning permission to redevelop the old Ard Ri Hotel overlooking the city on the Ferrybank side. Builder Tom Coughlan is hoping to spend €400m redeveloping the site for mixed use and building a new hotel.
Mr Coughlan said it was a 10-year development, with the first phase involving the hotel, offices and retail. He said he hoped the hotel and offices would be built by 2011, when the Tall Ships race comes to Waterford.
Mr Coughlan said the first phase was funded to the tune of €130m and was confident of raising the rest of the money.
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CURRENCIES - The euro is worth $1.56 and 79.3p sterling.
