Taoiseach Leo Varadkar and Communications Minster Denis Naughten have broken their silence on the data breach scandal at Independent News and Media, saying it is very “concerning”.

Independent News and Media — of which Denis O’Brien owns a significant stake — said it wants “urgently” to spark a debate over ownership and consolidation of newspapers and broadcasters in Ireland, claiming “unhelpful” regulatory conditions were placed this year on its now aborted bid to take over regional publisher Celtic Media.

Red Flag Consulting has disputed businessman Denis O’Brien’s claim he is entitled to know the identity of its client for a dossier of allegedly defamatory material about him, including describing him as “Ireland’s Berlusconi”.

A number of reporters attached to Independent News and Media have been told by Gardaí that their safety is at risk from organised criminals.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today.

Good afternoon. Here’s all the news you need to know this lunchtime.

Independent News & Media is confident of securing bank funding to help it make further acquisitions.

Independent News & Media (INM) continued to see declines in revenue and circulation in the opening four months of the year, the effects of which were offset by growing digital revenues.

Independent News and Media (INM) has agreed to sell its stake in an Australian media company for more than €120m.

A number of Cork’s most successful businesspeople took to the stage at the inaugural Cork Global Economic Forum and Network Event yesterday to try and plot a plan for the future of the region.

Independent News and Media is to shed 'about 100' jobs as part of a financial restructuring, chief executive Vincent Crowley has revealed.

A former executive of Independent News and Media has launched a High Court action against the group claiming its biggest shareholder, Denis O’Brien, was behind the decision to oust him from his €300,000 job.

Independent News and Media is conducting an investigation into what it says was the "regrettable decision" by the Irish Daily Star to publish topless photos of Kate Middleton on Saturday..

A boardroom row is on the cards after Independent News and Media warned it would not be happy to see the Irish Daily Star shut down.

The Cape Town-based investment company Sekunjalo Holdings is expected to lodge a formal offer for the South African publishing assets of Independent News & Media “shortly”.

The Irish market followed its major European peers slightly lower yesterday to close down 18.14 points at 3224.45.

SENIOR managers in government departments should be forced to reapply for their jobs when a new administration comes into place — as they too have to shoulder some blame for the economic crisis.

THE ISEQ finished the week lower after the previous day’s gains. The Irish Exchange closed down 14.69 points to 2830.74 on the day.

IRISH bank shares plunged yesterday as funding issues persist and less signs of an economic turnaround are seen.

Shareholders at Independent News and Media have overwhelmingly rejected two resolutions which would have seen major change at the top of the company.

Businessman Denis O'Brien is calling for a major shake-up at Independent News and Media.

THE ISEQ index of shares soared 259.29 points yesterday to 3,029.46 as the main financial stocks rebounded from the recent steep selloff. Traders were of the opinion that the sell off was overdone.

Workers at the Drogheda Independent Group have voted for strike action in support of five colleagues who have been made redundant or had their hours reduced.

DENIS O’BRIEN said yesterday he had raised his stake in IN&M, the latest share grab by the telecoms billionaire in the newspaper group. He said he holds 142,670,235 ordinary shares —more than 18% of the company — up from more than 17% earlier this month.

INDEPENDENT Newspapers are to cut 170 staff, who are expected to avail of a €17 million voluntary redundancy package, details of which were formally put to staff yesterday.

Australian media conglomerate APN News & Media Ltd said today it had received a renewed takeover bid from a buyout consortium led by Irish billionaire Tony O’Reilly’s Independent News & Media.

INDEPENDENT News and Media Plc’s South African unit is being sued by Jacob Zuma, the country’s former deputy president, for allegedly defaming him in several articles and cartoons.

TONY O’Reilly, the billionaire chief executive officer of Independent News & Media, spent €4.3 million exercising an option to buy shares in the company, increasing his stake to 26.4%.

PROFITS at Independent News & Media jumped nearly 42% last year largely due to a strong contribution from its papers in Ireland and South Africa.

THE ISEQ index dropped slightly weighed down by Eircom, whose shares plummeted.

FORMER journalists at Independent News & Media are asking the company to increase their pension payments.

THE 40% growth in net profits at Independent News & Media’s 40% owned APN News and Media company had practically no impact on the share price of the owner of the Irish Independent yesterday.

IRISH share values rose 23% in 2004, with Elan the runaway success that few if any predicted would be the stock of the year.

IRISH Independent owner Independent News & Media may sell off part of The Independent newspaper in Britain to fund a major marketing drive to boost sales of the trendsetting tabloid.

KINGSPAN’S share price surged ahead by almost 6% yesterday after the company disclosed first half pre-tax profits increased by 32.5% to €37.5 million, well ahead of expectations.

MOBILE PHONE services provider iTouch plc, in which Independent News & Media has a 39% stake, extended its reach to Russia and eastern Europe yesterday by spending €12 million on a Finnish mobile entertainment company.

The Iseq index was down 0.39 points this morning to 5305.85.

AFTER-TAX profits at APN, the Australian media group 40.5%-owned by Independent News & Media, are set to hit $A120 million (€73.6m) for 2004, up from $A103 in 2003.

CAMPBELL Soups heir, John Dorrance III and Independent News & Media boss Anthony O’Reilly have been confirmed as members of one of the world’s most exclusive clubs.

The ISEQ opened in the black for the tenth session in a row with a firm gain of 20 points, or 0.41%, up to 4992.

SHAREHOLDERS in Irish Independent owners Independent News & Media attending the company’s AGM today, will be buoyed by Goodbody Stockbrokers buy recommendation for the beleaguered share.

THE ISEQ index fell 96.43 points yesterday to close at 4141.74.

THE ISEQ closed 67.98 points higher at 4289.83 yesterday. Stocks gaining outnumbered stocks in negative territory two to one, while 33 finished unchanged.

TONY O'REILLY and US billionaire investor George Soros are teaming up to make a major media acquisition in Europe.

Members of Eircom's staff have presented a petition to the company's head office in Dublin expressing their opposition to the e-Island bid to take over the company.