Thursday 19 October 2017

Turnover for ISE rises to €25.6bn

Markets

THE Irish Stock Exchange (ISE) said yesterday that equity turnover increased 4.3pc to €25.6bn during the first half of the year. In its statistical review of the first six months of the year, the ISE revealed that Irish-listed companies raised over €5bn during the period while Irish Government bonds turnover more than doubled. Bond market capitalisation also increased by 16pc.

Ulster Bank under fire in debt row

Courts

A BUSINESSMAN who has to give up three properties to Ulster Bank over a debt complained yesterday that the financial institution gave no recognition to the economic crisis when dealing with him. Aidan Morrison, of Convent Lane, Portmarnock, Co Dublin, consented to a €1.8m judgment against him in favour of the bank in the Commercial Court, but said there was a failure to "meaningfully engage" with him. He told Mr Justice Peter Kelly the bank insisted on maintaining interest rates of 6.5pc despite the financial crisis but he was not defending the action as he had no legal representation and it was "a battle I cannot win".

Ford drives up profits to $2.6bn

carmaker

Ford, the only US automaker that did not seek government assistance during the height of the economic crisis, has reported a better-than-expected net profit jump of 13pc to $2.6bn (€2.02bn) in the second quarter of 2010. "We delivered a very strong second quarter and are ahead of where we thought we would be despite the challenging conditions," said CEO Alan Mulally.

1,800 properties in North repossessed

Loan Defaults

More than 1,800 properties were repossessed in the North in the past year, it was revealed yesterday. The number of people ordered to surrender their keys after defaulting on mortgage payments emerged after figures showed that 80,000 householders and 19,000 business owners failed to pay their rates in 2009/10.

McDonald's lovin' it as profits soar

Food

Fast-food giant McDonald's has reported a 12pc rise in profits between April and May compared to the same period last year, as sales continued to rise. Net profit came in at $1.23bn (€957m), up from $1.1bn a year earlier.

Irish Independent

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