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Saturday 10 December 2016

Sisk and Park need NAMA for marina

Construction

Published 05/12/2011 | 05:00

JOHN Sisk and Son Ltd and Park Developments have indicated they need the support of NAMA to finish off the €300m Greystones marina project in Co Wicklow.

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The loans given to Sisk and Park were transferred over to NAMA in November 2010, but there has been no official indication yet from NAMA whether it wants to support the second phase of the development, which includes a medical centre, apartments and clubhouses for harbour users.

"The directors expect that ultimately NAMA will provide ongoing funding facilities to allow for completion of the development,'' the builders said. Wicklow County Council is also a partner in the project.

Sale of David Lloyd gym chain mooted

Fitness THE owners of David Lloyd -- one of the largest fitness club operators in Europe -- is understood to be considering a sale of the business.

The gym chain, which runs 79 centres in Britain, Ireland, Belgium, the Netherlands and Spain, is owned jointly by the billionaire Livingstone brothers and Lloyds Banking Group's private equity vehicle Caird Capital. The company owns the Riverview fitness centre in Clonskeagh, Dublin.

Taxpayer-backed bank Lloyds is intent on restructuring the finances of the business, which have ballooned into the bank's second-largest corporate debt, which could lead to a potential sale, the 'Sunday Telegraph' reported yesterday.

Barclays Capital staff to share £5bn

banking

Barclays is reportedly planning to pay its investment bankers an estimated £5bn (€5.8bn) this year, despite calls for restraint from Bank of England governor Mervyn King.

Some 24,100 staff at Barclays Capital, the bank's investment arm, are in line to receive an average £210,000 (€245,000), the 'Sunday Times' said, which would include all salaries, bonuses and other benefits.

A £5bn pay pot would mark a 10pc decrease on last year's remuneration, but is still likely to provoke outrage from groups who have campaigned for a crackdown on pay in the sector since the 2008 credit crunch forced taxpayers to bail out Royal Bank of Scotland, Lloyds Banking Group and Northern Rock.

Irish Independent

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