In Brief: Origin chief nets €1m - Irish Independent

05 October 2013

ORIGIN Enterprises head Tom O'Mahony took home more than €1m last year, as the company posted higher-than-expected profits.

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According to the company's annual report, Mr O'Mahony saw his remuneration jump from €940,000 to €1.01m in the year to the end of July. He earned a basic salary of €420,000 and a bonus of the same value.

NESTLE PURPLE RULING

Nestle won a UK Court of Appeal ruling in a trademark case against Cadbury over purple packaging for milk chocolate. Nestle, the world's biggest food company, overturned a ruling last year that the colour purple was distinctive to the maker of Dairy Milk bars.

The ruling allows Nestle, and any other confectioners, to sell chocolate products with the same coloured wrapping. Cadbury, the UK's biggest chocolate maker, used a pale mauve colour as early as 1905 and its packaging has featured purple and gold dating back to 1920, according to the company website.

BARCLAYS SHARE SALE

Barclays, the UK's second- largest bank by assets, said investors bought 94.6pc of the shares in its rights offering, as chief executive Antony Jenkins bolsters the lender's capital.

The company sold some 3.05 billion shares, raising about £5.6bn (€6.6bn) at 185 pence apiece. The banks managing the offering sold the remaining 172.9 million shares at 268 pence each, the London-based bank said.

SWISS MARKET SWIZZ

Switzerland's financial markets regulator said it's investigating "several" firms over the possible manipulation of the $5.3trn (€3.9tn) trillion-a-day foreign exchange market.

The Swiss Financial Market Supervisory Authority "is coordinating closely with authorities in other countries as multiple banks around the world are potentially implicated", the regulator said. Swiss firms are among those being investigated, Finma added.

SAMSUNG EARNINGS

Samsung Electronics said it is on track to post its second consecutive year of record earnings. A rebound in its semiconductor business is shielding the South Korean tech giant from a slower smartphone market.

The world's biggest memory chipmaker is likely to see its semiconductor earnings rise to a three-year high, just as sales of its flagship Galaxy S4 smartphone begin to slow, analysts say.

Irish Independent