Media Bites - A round up of what the papers are saying
Sunday Independent - BANK of Ireland has plunged back into real estate development and construction lending, bulking up its property finance team and signing up to fund another multi-million build in Dublin city centre.
The Richie Boucher-led bank has agreed to partly fund US private equity firm Kennedy Wilson's development of 164 homes at Clancy Quay in Dublin 8. Kennedy Wilson recently submitted planning proposals for the site, which sits on 5.2 acres on the south bank of the Liffey in an area where rents have rocketed over the past year. Approval is being sought for a mix of apartments and houses.
THE SUNDAY TIMES
EIRCOM is finalising plans to return to the stock market just two years after plunging into bankruptcy. Eircom is aiming to raise about €1bn from investors in Britain and Ireland, in a deal that would value the operator at more than €3bn. The offering could happen as soon as September, with the proceeds used to slash Eircom's €2.3bn debt, sources said.
THE SUNDAY TELEGRAPH
THE Bank of England must act quickly and decisively to rein in UK mortgage lending if it is to prevent another housing crash, two of Europe's top policymakers have warned. Mark Carney, the bank's governor and chairman of the Financial Policy Committee, which is in charge of financial stability, is expected to unveil measures this week designed to stop the economy from boiling over.
THE WALL STREET JOURNAL
LEGO, the world's second biggest toymaker by revenue, is planning a 50pc increase in headcount at its factory in Mexico to meet demand for its popular interlocking brick toys in North and South America. The Danish company, which has enjoyed significant momentum in recent years, saw its sales growth moderate in 2013 amid challenging conditions for traditional toymakers around the world.
THE SUNDAY BUSINESS POST
Vodafone Ireland could issue legal proceedings in an attempt to force ComReg to redress what it sees as an imbalance in the Irish mobile market. The action follows a decision by the European Commission to approve a merger of O2 and Three Mobile. That deal would leave the new company with 90 Mhz of spectrum, compared with 60 for Vodafone and 50 for Meteor.