Business Irish

Monday 5 December 2016

BoI's dispute with client adjourned

COURTS

Published 13/04/2010 | 05:00

A DISPUTE between Bank of Ireland (BoI) and Galway businessman John Sweeney over the need for a freezing order on his accounts has been adjourned to next week on his undertaking not to spend more than €5,000 of his assets before then.

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Mr Sweeney, Goreen, Gortacleva, Bushy Park, Galway, who previously consented to judgment for just under €10m in favour of BoI over unpaid loans, has strongly refuted claims of attempting to hive off funds due to the bank.

UBS profit on a three-year high

Banking

UBS, Switzerland's biggest bank, reported its highest quarterly profit in three years yesterday as it posted earnings of CHF2.5bn (€1.74bn) for the first quarter of this year. The gains were driven by the debt-trading unit, which had revenue of $2.3bn (€1.6bn). The bank's share price was up over 3pc on the back of the results.

€1.5m for youth cafe scheme

Pledge

THE GOVERNMENT yesterday pledged €1.5m in a new scheme to fund youth cafes. Children's Minister Barry Andrews said the money would go to both setting up new cafes and improving or expanding existing businesses. Help for setting up new facilities will be provided by the Child and Family Research Centre at NUI Galway.

Eurostar's year is back on track

Railways

EUROSTAR, which operates the Channel Tunnel, yesterday reported a passenger increase of 5pc year-on-year and sales of £178m (€201m). The figures are seen as a positive development after the company's struggles at the start of the year, when several trains broke down during a spate of bad weather, leaving thousands of passengers stranded.

Asda chief quits after five years

Retailing

THE CHIEF executive of British supermarket chain Asda has announced he is to step down. In a shock move, Andy Bond will become part-time chairman of the company's executive committee. Mr Bond had been CEO of Asda for the last five years but had faced grumbles after a disappointing Christmas season. A successor has not yet been named and Mr Bond will stay in the role until one has been appointed.

Irish Independent

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