Business World

Saturday 25 February 2017

Wall Street firms see payouts rise

BONUSES

Wall Street bonuses rose 17pc in 2009 from a year earlier as the securities industry rebounded from the financial crisis, New York State comptroller Thomas DiNapoli has said.

Financial firms disbursed $20.3bn (€15bn), compared with $18.4bn in 2008, DiNapoli's office calculated, basing its estimate on personal income-tax collections. It doesn't include stock options or other types of deferred pay.

'Exciting new era' for Saab after sale

CAR INDUSTRY

General Motors sold Saab to Spyker Cars, the Dutch maker of supercars, yesterday for at least $400m (€296m) in cash and preferred shares. "The transaction secures the future of Saab and signals the start of an exciting new era for the iconic brand," Spyker said in a statement.

Collector General in €1.1m finding

JUDGMENT

The Collector General has registered a €1.1m judgment against a Cork property executive. The judgment is listed in the latest instalment of weekly debt monitor 'Stubbs Gazette' and was registered against Paul O'Sullivan, with an address at Sherwood, Ballyvaloon, Grenagh, Co Cork, who describes himself as a "property director".

Two O'Dwyer sons resign from board

PROPERTY

TWO of Eddie O'Dwyer's sons have resigned from the board of his home-building giant Dwyer Nolan Developments. Documents lodged with the Companies Office show Edwin O'Dwyer and Aidan O'Dwyer both stepped down from the company's board on February 12. Dwyer Nolan Developments' most recently published financials show profits of €2.3m for the year ended last May, on a turnover of €18.7m.

RBS expected to post biggest loss

BANKING

Royal Bank of Scotland, Britain's biggest government-controlled lender, may post the largest loss of any European bank for the second half of 2009 after provisioning for bad loans and writedowns. The Edinburgh-based bank may record a net loss of £4.6bn (€5.3bn) from a net loss of £23.5bn a year earlier, according to the median estimate of eight analysts surveyed by Bloomberg. The bank is scheduled to report earnings tomorrow. RBS declined 31pc in the six months to yesterday.

Irish Independent

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