Monday 18 December 2017

AIB shareholders hope 'winning streak' continues

SHAREHOLDERS at Allied Irish Banks will be hoping that chairman Dan O'Connor can emulate his success at Leopardstown Races last Sunday when he pulled off a long-odds gamble in the Grangecon Stud Handicap.

Mr O'Connor is a part-owner of a grey called Charminamix, which managed to hold off the favourite Lord Kenmare to win the €21,500 race at very generous odds of 11/1.

However, the odds may be even longer on Mr O'Connor's AIB holding off nationalisation if the recent share price drop is anything to go by as the bank recapitalises.

IMF survivor arrives

THE International Monetary Fund (IMF) was in town last week for the fund's regular fact-finding meetings with various government officials, banks and academics.

Miraculously, the team was led by Ashoka Mody who has had a horrendous time since he was here this time last summer. The 55-year-old IMF economist was shot several times at his home outside Washington DC last October by a deranged intern.

The assistant director of the European Department was hit in the head by a bullet during the attack and spent several months in hospital following the shooting by 36-year-old Mohau Mercy Mathibe who had only worked briefly for Mr Mody during his two-year internship.

People meeting Mr Mody in Dublin last week said the IMF official looked remarkably well. His report will be published in the late summer or autumn.

A turning point

THE London Irish Business Society held its second meeting yesterday with the optimistic theme, 'The Irish Economy -- A Turning Point'.

The newly formed society held its inaugural event in February on NAMA, and continued last night with 20-minute talks by Michael O'Sullivan, a co-editor of the book 'What did we do right? The Miracle of Ireland', Davy Stockbrokers' economist Rossa White and McKinsey and Company director Pat Butler.

The evening, which was sponsored by Davy's Capital Markets Division, kicked off in the Irish Club with drinks and canapes and finished off with questions from the floor.

Irish Independent

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