The National Enterprise Awards took place in Dublin last night. The awards honour the best and brightest small businesses and entrepreneurs around Ireland. The awards are organised the country's 31 Local Enterprise Offices, which support more than 24,000 companies with training, mentoring and financial assistance. The main winner on the night was a Kilkenny-based life sciences company called MyBio, which supplies products to a number of sectors including laboratories and pharmaceutical companies.
Linda Nolan, who established MyBio in 2009, says the company supplies and creates products, knowledge and solutions and technologies for the life scientific research industry. Mybio's customers are scientists and are based in laboratories across various sectors including academia, government, biotech, diagnostics, forensics and pharmaceutical companies. Ms Nolan says the company has successfully secured a number of "much sought after exclusive" contracts to supply leading brands which are easily recognisable. There are huge opportunities in the sector for the company to grow, she adds.
The firm in based in Kilkenny, which Ms Nolan describes as a lovely place in which to live. She says the innovation centre where it is based is super, adding that they are surrounded by like minded people. Being based in Kilkenny also works very well logistically as the company has customers in Dublin, Cork and in the North.
MORNING BRIEFS - Social media site Twitter is on the search for a new EO after it was announced that Dick Coastal was stepping down from the role. Coastal has been under immense pressure from shareholders in recent times as the company failed to keep pace with rivals like Facebook, adding users and growing revenue at a much slower rate than had been hoped.
Most recently the company missed revenue forecasts for the first three months of the year, posting a $162m net loss for the period. Its share price has declined nearly 30% since then, and is currently trading below the price it debuted at in 2013.
Twitter co-founder Jack Dorsey is to become interim CEO while the company searches for a permanent replacement. Highlighting the mood of investors, shares in the company rose by 7% in aftermarket trade following last night's announcement.
*** Reports suggest that 84 year old media mogul Rupert Murdoch was preparing to step down from his role as chief executive of Twenty-First Century Fox. The company is responsible for a wide variety of films and TV stations - including a controlling interest in Sky TV. Murdoch's son James is expected to be named as his successor in the top role. He will not be left in complete control, however, as he will work in partnership with his brother Lachlann, while Rupert Murdoch would stay on as chairman and have final say over any decisions.
*** There may also be some changes to the TV landscape closer to home, with The Irish Times reporting that US firm Liberty Global is doing due diligence on a bid for TV3. Liberty Global is best known here as the parent of cable company UPC and the newspaper says that it is well advanced with the process of considering a bid, but a deal could still be months away. The company's owner John Malone has a keen interest in Ireland and he has recently acquired some high profile hotels, including the Westin in central Dublin and the Limerick Strand Hotel. TV3 has been on the market for a number of months now, with reports suggesting an attached price of €120-150m.