Business Today Newsletter

Questioning Smurfit Kappa’s big deal, Beacon hospital accounts, and building a network for remote workers

The best news, analysis and comment from The Irish Times business desk

Smurfit Kappa's big US deal has attracted the attention of an activist shareholder.

Úna McCaffrey's face
Úna McCaffrey
Fri Dec 22 2023 - 06:30

An activist fund has questioned the “strategic rationale” of Smurfit Kappa’s proposed multibillion acquisition of its US packaging rival WestRock, urging the Dublin-listed company to consider a tie-up with the company that led a failed attempt to acquire the Irish cardboard box-maker five years ago. Ian Curran has more on this story, which has led UK-based shareholder Primestone Capital to contact Smurfit Kappa’s board.

The Beacon private hospital in Dublin saw profits decline last year, blaming cost inflation in the healthcare sector, while warning that it needs “improved reimbursement” from private health insurers, writes Eoin Burke-Kennedy. The lower profit came as turnover climbed at the healthcare facility, controlled by Denis O’Brien.

Data showing soaring amounts of used cooking oil being converted into biodiesel has prompted an industry figure to warn that up to two-thirds of it could be fraudulently mislabelled. Used cooking oil that has been processed is the most commonly used renewable motor fuel in the State, backed by Government policy. Barry O’Halloran has the details.

Working from home is now firmly embedded in some organisations, while others continue to form policies that may or may not accommodate it. Emmet Malone this week speaks to Stephen Carolan, who has the job of overseeing a Government-backed scheme intended to establish a network of 400 hubs across the State to facilitate those who want to work remotely. He reckons asking staff who have become used to working off-site to return to the office full time is akin to asking those who flocked to cities during the industrial revolution to “go back to the fields”.

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And still in Work, we ask if states that have policies to promote childbirth should perhaps consider pro-parent policies instead.

This week’s Business Interview is with Sam Moffett, boss of Moffett Automated Storage and winner of this year’s EY Entrepreneur of the Year contest. He tells Ellen O’Regan about growing up with his family’s factory as his playground and his plans to grow his company into a $1 billion business.

In his Economics column, John FitzGerald reflects on the relationship between Department of Finance (where he had his first job after college) and its twin, the Department of Public Enterprise. Success, he writes, depends on good personal relationships.

Our Wild Goose is Louth native Peter Clarke, a senior executive in the US for one of the world’s largest hotel groups. In an interview with Ellen O’Regan, he says he has been besotted by the hotel business since he was 12 years old and went to one for a family lunch to celebrate his sister’s Confirmation.

And finally, keep an eye out for Ciarán Hancock’s annual Christmas Quiz on the business tab of The Irish Times later today; as usual, some excellent prizes are on offer. And Happy Christmas from all of the business team – thanks for reading this year!

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