Latest news with #IMI
Telegraph
4 days ago
- Business
- Telegraph
Ministers to face down opposition to Telegraph sale
Ministers are preparing to face down opposition to the sale of The Telegraph in a row over foreign state influence. The Government on Thursday confirmed that it will press ahead with a Lords vote next week that will decide whether foreign powers should be allowed to own up to 15pc of British newspapers. The planned legislation is viewed as pivotal to ending the ownership uncertainty that has gripped The Telegraph for more than two years. A proposed takeover led by the US private equity firm RedBird Capital is expected to include a passive stake of up to 15pc for IMI, a media company owned by the vice president of the United Arab Emirates (UAE). This week there has been determined lobbying for and against the legislation, which would ease an outright ban on foreign state shareholdings introduced last year. Rumours have swirled in Parliament that Labour would abandon the vote over fear of a highly embarrassing defeat. However, a spokesman for the Department of Culture, Media and Sport said: 'Tuesday's House of Lords debate on the Enterprise Act will go ahead as planned.' Opposition to allowing foreign states to invest in newspapers has coalesced around a rare 'fatal motion' tabled by the Liberal Democrats. The Conservative leadership is supporting the Government's plans, but a group of Tory rebels has gathered around Lord Forsyth of Drumlean, who has called the proposed legislation 'a systemic threat to a free press'. The plans could also face significant opposition from crossbench peers. Lord Fox, the Lib Dem peer who tabled the fatal motion, said: 'We're working across the House to make sure we do everything we can to stand up to the Government's plan to sell out British press freedoms. 'Foreign states have no place in the UK's newsrooms. The Government should never have brought forward the legislation – but there's a growing group of peers from across the political spectrum who believe it can, and should, be stopped. 'This vote is about protecting a keystone of British democracy. I'm calling on peers to come together across the House and vote this dangerous legislation down.' If approved by a majority of peers, the fatal motion would block the legislation and force the Government to rethink. Such votes are supported very rarely by peers as they spark arguments about the power of the unelected chamber. MPs have already approved stakes of up to 15pc for foreign powers. Earlier this month, the Commons voted in favour of the plans by 338 votes to 79. Almost all the votes against it were Lib Dems. RedBird's planned takeover of The Telegraph is expected to include a passive minority stake for IMI, as well as minority stakes for the Daily Mail owner Lord Rothermere and Sir Leonard Blavatnik, the owner of the major record label Warner Music. IMI had previously sought to be the majority backer of a takeover of The Telegraph alongside RedBird. It was blocked last year following a cross-party outcry, a decision that caused a serious diplomatic rift between Britain and the UAE. The Lib Dems have argued that foreign states should be allowed to own no more than 5pc of a British newspaper, as was originally proposed by the Conservatives when they were in power and blocked the IMI-funded takeover of The Telegraph. This week the Government sought to head off some of the opposition to its proposals by publishing plans to close a loophole.
Irish Independent
14-07-2025
- Business
- Irish Independent
Irish executives forge ahead with DEI strategies
A survey by the Irish Management Institute (IMI) of 100 senior business leaders in Ireland, across private, public and semi-state sectors, found that 97pc plan to strengthen their organisation's diversity efforts. It also found that 44pc of those surveyed plan to increase investment in DEI programmes, while 54pc intend to maintain their current DEI initiatives and policies. Last month, the Sunday Independent revealed that the US embassy in Dublin has sent warnings to companies it does business with to comply with Donald Trump's 'anti-DEI' agenda if they employ American citizens and have US owners. Entities that have received grants from the embassy have also been given the same warning. The letters would apply to many US multinationals and their subsidiaries in Ireland providing services to the embassy, which could include firms in hospitality, cleaning and events. Just 5pc of the senior executives surveyed by the IMI believe that mandating a full return to the office will enhance productivity or drive growth. That's seemingly at odds with an increasing push by more companies to get staff back into offices on a full-time basis. Billionaire Denis O'Brien recently claimed that working-from-home was a 'load of nonsense' and insisted it has negatively affected productivity. The IMI survey found that 39pc of executives believe that eliminating hybrid working policies would have a negative impact on workforce productivity and employee work-life balance. 'What we're seeing is a tale of two realities: as some countries, particularly the US, scale back their DE&I commitments, Ireland's business leaders are choosing a different path—reinforcing their dedication to building diverse and inclusive workplaces,' said IMI chief executive Shane O'Sullivan. 'Our survey clearly shows that, rather than stepping back, leaders in Ireland are doubling down on DE&I, recognising it as a strategic imperative,' he added. The IMI has also announced the recipients of its 2025 scholarship programme with the 30% Club, a global business campaign designed to boost female representation on boards and among senior executive leadership teams in the world's biggest companies. Suzanne Torsney, global head of internal communications and engagement at Primark, and Michele Bourke, programme manager, national clinical programmes for gastroenterology and hepatology, at the HSE, have been awarded this year's scholarships.
Irish Examiner
13-07-2025
- Business
- Irish Examiner
Irish companies double down on DEI despite shift in the US
The majority of Irish businesses plan to maintain or increase their commitment to diversity, equity, and inclusion (DEI) efforts despite a rollback in other parts of the world, particularly the US. A survey of 100 senior business leaders across private, public, and semi-state organisations found 97% plan to strengthen their organisation's diversity efforts. Almost half (44%) intend to increase investment in DEI programmes, while 54% say they will maintain their current initiatives and policies. The survey by the Irish Management Institute (IMI) also found that 39% of decision makers believe eliminating hybrid working policies would have a negative impact on productivity and employee work-life balance. 'What we're seeing is a tale of two realities," Shane O'Sullivan, CEO at IMI said. "As some countries, particularly the US, scale back their DEI commitments, Ireland's business leaders are choosing a different path—reinforcing their dedication to building diverse and inclusive workplaces. Our survey clearly shows that, rather than stepping back, leaders in Ireland are doubling down on DEI, recognising it as a strategic imperative." On hybrid working, just 5% of business leaders believe mandating a full return will enhance productivity or drive growth. This highlights a broader recognition that flexible work models are not only key to performance but also to fostering inclusive, equitable workplaces that attract and retain diverse talent. Half of the leaders surveyed state that implementing full-time in-office working policies will have a mixed impact on their organisation, which could improve collaboration but make it more challenging to attract top talent. A number of executive orders signed by US President Donald Trump have rolled back DEI efforts in the US government and put pressure on businesses to make similar changes within their organisations. Many of the world's largest companies, including a number with operations in Ireland, such as Google, Meta, Amazon and PepsiCo, have removed or scaled back their DEI policies, including removing diversity goals.
Irish Times
04-07-2025
- Business
- Irish Times
IMI staff headcount shrank before sale to Business Post group
One of Ireland's oldest business schools, the Irish Management Institute (IMI) , trimmed its staff headcount by almost 20 per cent in the year before the Business Post group agreed to acquire the executive education provider from University College Cork (UCC). Newly filed accounts for the IMI show that losses at the Sandyford, south county Dublin-based institute, narrowed to just over €431,000 in the 12 months to September last from more than €1 million in the previous 12 months. The IMI reportedly issued protective notice to more than 30 staff in the summer of 2023, warning of potential redundancies. Staff numbers at the school subsequently shrank from 77 in 2023 to 63 in the year to September 2024, according to the latest filings, a reduction of more than 18 per cent. READ MORE Consequently, staff costs – including wages, salaries, social welfare contributions and pension costs – declined by almost 19 per cent to €4.66 million in the year. In a report attached to the accounts, the IMI's directors said the market for executive education remained challenging due to escalating direct and indirect costs. [ Business Post expected to move to Irish Management Institute (IMI) campus Opens in new window ] 'However, despite these challenges, the programme of turnaround activities, commenced in the prior year, has strengthened the company and significantly reduced the deficit for the year.' Accumulated losses of more than €5.2 million had built up at the company, which is limited by guarantee and has no share capital, by the end of September 2024, according to the accounts. The IMI's directors also noted that after the financial year end, they had signed non-binding 'heads of terms' related to the potential sale of the institute and its assets to a 'third party'. How the wealthy are buying up land to avoid inheritance tax Listen | 22:03 Enda O'Coineen's Business Post Group subsequently acquired the institute in a deal that was finalised in May. UCC will reportedly retain control of the sprawling 13-acre campus in suburban south county Dublin as part of the transaction. At the time of the deal, the Business Post Group said the addition of IMI would complement its existing portfolio and align with its 'House of Brands' vision to deliver content through experiences through 'insights' with and executive education. 'Our group of companies bring together the power of news reporting and insights as well as research – this will help to further inform IMI on the trends and emerging areas that leaders need to know and understand,' Mr O'Coineen said at the time. The Irish Times reported in May that staff at the newspaper had been told the news publisher's operations will likely move to the IMI campus when the lease on its offices on Merrion Road expires later this year.
Globe and Mail
19-06-2025
- Business
- Globe and Mail
Report shows that 60% of Canadians see improved perception of women's sport
New data on the explosive growth of women's sport in Canada underscores its rising popularity, but also reveals that its structural supports still lag behind. Jessica Doherty, vice-president of strategy and growth at Torque Strategies, presented findings from a new national survey on Wednesday morning at the espnW Summit Canada at Toronto's Evergreen Brick Works. One of the study's main findings is that 60 per cent of Canadians believe perceptions of women's sport have improved over the past three years. 'It has been on quite a rocket ship and one of the things that feeds into that is just the growing visibility in it,' said Doherty, noting that three professional women's sports properties have been launched in Canada in the past three years. 'I think when people see it more, then they're like, 'Oh, yeah, this is a thing.' It becomes normalized, and therefore, other people think, 'Oh, it's OK for me to be a fan of women's sport.'' Commissioned by Torque Strategies, in partnership with IMI, the report surveyed 2,000 people across a wide demographic spectrum that was representative of Canada's population. It found that 80 per cent of male respondents consider themselves fans of women's sport. According to the report, 41 per cent of Canadians see women's sports as a national investment. The surge in popularity across all genders was, in large part, thanks to the founding of the Professional Women's Hockey League, soccer's Northern Super League, and the announcement that the Women's National Basketball Association will expand into Toronto for the 2026 season. However, the report also found that over 30 per cent of fans believe that investment is lacking across media, sponsorship and policy. 'The next step is to sustain that growth, right?' said Doherty. 'You see leagues historically in the U.S. and there's been some stop and start leagues, so we want to find ways to keep the growth, keep the momentum and help sustain them. 'I think forums like this and research like this ... helps back up this excitement with real data that supports a business case.' Since the PWHL was founded in 2023, there has been a 45 per cent increase in female hockey registrations in Canada, a historic record for the sport. Monica Wright Rogers, the new general manager of the WNBA's Toronto Tempo, was also a panellist at the espnW Conference. She said that she hopes the new women's basketball franchise will capture the imagination of young Canadian girls like the PWHL and NSL have. 'We want to inspire a generation to pick up a basketball and be a professional,' said Wright Rogers, who played collegiately and in the WNBA before moving into coaching and was the Phoenix Mercury's assistant GM before signing on in Toronto. 'If you're having fun at the sport, and you're young, and then you see women, professionally, living their lives, having fun and are good, that does something to a young person. 'I wouldn't be here if I didn't have the WNBA to aspire to, or the NWSL, or professional women putting their all on their playing field.' Hosted by ESPN's Sarah Spain, the third annual espnW Summit Canada had a dozen presentations. Some of the panels included Torque Strategies and IMI's presentation on the growth of women's sport, Wright Rogers' panel on women leading professional sports organizations, a discussion of how to build better facilities for women's sports, and an introduction of some of the founders getting support from Toronto Metropolitan University's Future of Sport Lab. 'This year, you'll see it's a lot more about grassroots and infrastructure and investment, really trying to expand the conversation and broaden that,' said Doherty during the lunch break. 'That's what we hope to continue with, year on year, when it comes to the research. 'Our agency is very, very passionate about women's sport, as is IMI, so we are going to continue to follow up on the report, new releases, new ideas, new insights that will come out on a biannual basis.'
