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'Significant document' disclosure by Moriarty

Sat, 21 Nov 2009 05:00:00 +0000

The chairman of the Moriarty Tribunal told a public sitting yesterday: "Today a potentially significant document became available to the tribunal."

Lending to private sector down 3.4pc, says Central Bank

Sat, 21 Nov 2009 05:00:00 +0000

THE level of lending by banks continues to shrink with the latest figures from the Central Bank showing that in the year ending in September private-sector credit declined by 3.4pc.

New bank guarantee scheme gets EU backing

Sat, 21 Nov 2009 05:00:00 +0000

European Union regulators approved the Government's revised plans to guarantee bank deposits and debt to stabilise its financial industry.

Carlyle is named deputy managing director of INM (Ireland)

Sat, 21 Nov 2009 05:00:00 +0000

Declan Carlyle has been appointed deputy managing director of Independent Newspapers (Ireland). Mr Carlyle will report to Joe Webb, who was recently promoted to chief executive of INM (Ireland).

Doherty moves to calm AIB employee fears

Sat, 21 Nov 2009 05:00:00 +0000

Allied Irish Banks' newly appointed managing director Colm Doherty has told AIB staff he will outline his "vision and strategy" for the group within the next 10 days.

US lawyer gets 30 months for $2m fraud on Wicklowman

Sat, 21 Nov 2009 05:00:00 +0000

A US lawyer who aided a deception that resulted in almost $2m (€1.3m) of a Wicklow businessman's money being misappropriated was sentenced to 30 months' jail and ordered to repay nearly $3m (€2m).

Directors should get higher pay, Exchange boss says

Sat, 21 Nov 2009 05:00:00 +0000

INDEPENDENT, non-executive company directors should be paid more money in order to reflect the importance of their role, the chief executive of the Irish Stock Exchange said yesterday.

TK Maxx profits soar as shoppers seek bargains

Sat, 21 Nov 2009 05:00:00 +0000

Profits at the Irish unit of discount US retailer TK Maxx soared 64pc to €24.7m last year as shoppers sought bargains amid the economic downturn.

Ulster Bank appoints receiver to Logancourt

Fri, 20 Nov 2009 05:00:00 +0000

Ulster Bank has appointed a receiver, Jim Luby, to Logancourt Properties, a housing developer which developed homes in Rush, north Co Dublin, and Ashbourne, Co Meath.

Tough budgets essential here for 'extended' period

Fri, 20 Nov 2009 05:00:00 +0000

The global economic recovery is "too timid" in the mostly rich countries of the OECD and unemployment in the euro area may not peak until 2011, the latest economic outlook from the Paris-based think-tank says.

awkward legacy

Sat, 21 Nov 2009 05:00:00 +0000

John Corrigan, who was appointed to succeed Michael Somers as National Treasury Management Agency (NTMA) boss this week, has long been considered the heir apparent at the organisation.

Buckley heads up INBS commercial

Sat, 21 Nov 2009 05:00:00 +0000

APPOINTMENT

John Giles: Dynamic has changed within Trap’s side now

Fri, 20 Nov 2009 14:43:08 +0000

CHEATING in football is a subject that has long been a pet hate of mine, and the more I see it the more certain I am that the practices now endemic in the game are a deadly threat.

EU approves revised guarantee plan for banks

Fri, 20 Nov 2009 12:10:57 +0000

European Union regulators approved the Government’s revised plans to guarantee bank deposits and debt to stabilize its financial industry.

Servier Ireland opens €47m manufacturing plant in Arklow

Fri, 20 Nov 2009 12:03:17 +0000

IDA Ireland has welcomed the official opening of Servier Ireland’s new €47 million manufacturing plant in Arklow, Co. Wicklow.

Kerry gets second bite at buying ingredients business

Fri, 20 Nov 2009 05:00:00 +0000

KERRY Group is being tipped as a potential buyer of the ingredients group Chr Hansen after it emerged that the French group PAI Partners is preparing to sell the business.

Early appeal will help save jobs

Fri, 20 Nov 2009 05:00:00 +0000

LEGAL

EBS members are intent on keeping their mutual status

Fri, 20 Nov 2009 05:00:00 +0000

Over four in five EBS Building Society members are keen to maintain its prized mutual status, as the lender's management prepares it to play a key role in industry consolidation over the next year.

Powerflute CEO is former Jefferson Smurfit figure

Fri, 20 Nov 2009 05:00:00 +0000

Packaging magnate Dermot Smurfit (right) has hired a former figure in the Smurfit empire he once ran with his brother, Michael, to run his Finnish-based paper mill operation, Powerflute. The company was formed when Mr Smurfit, former deputy chairman of the Smurfit group, led a takeover of Savon Sellu, a distressed Finnish paper mill, in 2005 and renamed it Powerflute.

Pilots give Aer Lingus outsourcing ultimatum

Fri, 20 Nov 2009 05:00:00 +0000

AER Lingus pilots have issued an ultimatum to bosses at the troubled airline to stop all outsourcing if an almost €100m cost-cutting deal is to be agreed.

Ryanair to begin legal battle on airport charges directive

Fri, 20 Nov 2009 05:00:00 +0000

Ryanair will next week seek leave for a judicial review of a direction issued by the Minister for Transport to the Commissioner for Aviation Regulation, allowing Dublin Airport Authority (DAA) to increase passengers fees to a level which will enable it to claw back millions of euro it spent on Terminal 2.

Bad start gets worse for markets

Fri, 20 Nov 2009 05:00:00 +0000

It was a gloomy day on the markets in Dublin and the rest of Europe with shares retreating across the board from the start of trade.

Struggling Datalex faces €2m loss

Fri, 20 Nov 2009 05:00:00 +0000

IRISH travel software firm Datalex expects losses to jump to $3m (€2m) this year as its operating environment continues to deteriorate.

FBD shares up as fighting talk sparks buying spree

Fri, 20 Nov 2009 05:00:00 +0000

HOURS after an interim management statement drove an 11pc surge in his company's share price, FBD boss Andrew Langford last night insisted there had been no material change in the insurance group's outlook.

Share funds help gold projects

Fri, 20 Nov 2009 05:00:00 +0000

GOLD exploration group Conroy Diamonds and Gold has raised €250,000 in fresh capital to fund work on the Clontibret gold project in Co Monaghan as well as other exploration work in the area.

O’Leary says deal with Boeing is ‘highly unlikely’

Thu, 19 Nov 2009 16:26:45 +0000

Ryanair Chief Executive Officer Michael O’Leary said a deal to buy new planes from Boeing is "highly unlikely."

Ryanair increase planes and routes at UK airports

Thu, 19 Nov 2009 16:00:40 +0000

Ryanair has announced that it plans to invest an additional $210m in UK tourism as it bases a total of 3 new aircraft in Bristol and Liverpool from 28th March and opens ten new routes from Bristol, Edinburgh, Glasgow (Prestwick) and Liverpool Airports, from February next.

Kerry sees earnings at top of forecast range

Thu, 19 Nov 2009 15:05:39 +0000

Kerry Group repeated a full-year earnings forecast given in August as sales rose at its ingredients and flavors unit in the 10 months through October.

Airlines may have to compensate delayed passengers

Thu, 19 Nov 2009 11:21:50 +0000

Airlines may have to compensate passengers on flights that are delayed for more than three hours, the European Union’s highest court ruled in two cases involving Air France SA and Germany’s Condor Flugdienst GmbH.

Greencore agrees to sell bottled water business

Thu, 19 Nov 2009 11:18:35 +0000

Greencore, the supplier of more than 100 million ready-meals a year to UK retailers, agreed to sell its bottled water business to Highland Spring for as much as £17.5m (€19.6m).

FBD expects 2009 earnings to beat estimates

Thu, 19 Nov 2009 10:56:46 +0000

FBD Holdings, the only general insurer on the Dublin bourse, said it’s confident that full-year per-share operating earnings will be ahead of the current mean estimate of analysts’ forecasts of 86 cents.

AIB raises forecast on bad loans to €5.3bn

Thu, 19 Nov 2009 05:00:00 +0000

Allied Irish Banks hinted yesterday that the discount it faces on loans bound for the State's 'bad bank' may be above the industry-wide average of 30pc, as the group hiked its bad-loan forecast for this year to €5.3bn.

Fraud becoming a big issue for Irish and European firms

Thu, 19 Nov 2009 05:00:00 +0000

FRAUD is a growing problem for Irish business but the levels of crime are no worse here than elsewhere in Europe, according to a PricewaterhouseCoopers survey of 3,000 respondents in 54 countries and the Paris-based INSEAD business school.

City office prices down 11.3pc in third quarter

Thu, 19 Nov 2009 05:00:00 +0000

Dublin offices rents fell faster than in any of 27 cities in Europe, the Middle East or Africa in the third quarter with an 11.3pc fall.

Economist joins in predictions of renewed growth as early as 2010

Thu, 19 Nov 2009 05:00:00 +0000

IRELAND is close to rock bottom and could see a resumption of economic growth next year, Ulster Bank economist Simon Barry has said.