Clarification on AIB financing
The business section in the Friday January 15 edition of the Irish Independent contained an article headlined "AIB remains tight lipped on possible billion-dollar losses in the US".
The Irish Independent accepts that this is not true and that AIB is not exposed to such possible losses. We are happy to retract the claim.
Dubai index falls on debt concerns
Dubai's stock index dropped for a sixth day yesterday, the longest losing streak since March, on concern that government-owned Dubai World may have trouble restructuring its debt and in anticipation of fourth-quarter earnings. The exchange's main index fell 2pc. Dubai World is seeking to restructure $26bn of debt.
Britain 'won't put a levy on banks'
Britain is not considering adopting US President Barack Obama's proposal for a levy on banks to repay taxpayers for bailouts, its chancellor Alistair Darling has said. The 'Financial Times' reported last week the US would urge other nations to introduce similar measures.