Room rentals multinational Airbnb is planning to move into Facebook's former Dublin headquarters ahead of an expansion of its workforce, reports the Sunday Times.
Although the deal has not yet been signed, the newspaper says the company is expected to move into Hanover Reach in Dublin's docklands. Facebook vacated the offices during the summer when it moved it larger premises at Grand Canal Square. Airbnb is valued at $10 billion following a funding round earlier this year.
Miliband pledges wage rise
British Labour Party leader Ed Miliband has pledged to increase the minimum wage to £8 an hour by 2020 if he wins power in next year’s general election. The Conservative party has proposed that the wage, which will rise to £6.50 an hour in October, should hit £7 an hour next year, with the difference in policy suggesting that the issue will play a role in the campaign.
"We've got one in five of the men and women who go out to work in this country, they do some of the most important jobs, they clean this building, they act as security guards, they do incredibly important jobs and they are some of the lowest-paid people in this country. We are determined to change it," Mr Miliband told the BBC yesterday.
Offshore funds for Poolbeg
Covanta, the US firm contracted to develop the Poolbeg incinerator, plans to use more than $100 million of offshore money to help fund the construction of the project, according to the Sunday Business Post. The move will allow the company to minimise its US tax bill.
The publicly quoted energy company has briefed financial analysts on the tax efficiency of the funding method. Covanta now has the financing in place to develop the €500 million project, which has been subject to political wrangling and planning delays.
Jimmy Choo on cusp of IPO
Luxury shoe brand Jimmy Choo is on the cusp of unveiling plans for a highly anticipated stock market debut this week in what is expected to a busy week for corporate activity on the London stock market, according to the Sunday Telegraph.
The newspaper says some bankers advised companies that were due to pull the trigger on a float last week to hold off until the result of the Scottish independence referendum was known. The owners of Jimmy Choo are expected to make a final decision this week.
Elivia stake for Dawn Meats
Waterford meat processing company Dawn Meats is set to buy a significant minority stake in Elivia, France's second-largest beef processor, reports the Sunday Times. The deal will involve an investment of €40 million to €50 million for a strategic stake of up to 40 per cent in the company, according to the newspaper.
Elivia has a turnover of €1 billion and about 2,600 employees. Negotiations have been under way since last December and a deal is expected to be announced shortly.
