Thursday 18 January 2018

Philip Lynch case ruling is delayed


A judgment in the case taken by businessman Philip Lynch and his family against AIB and two firms of solicitors has been delayed.

Judge Michael Peart was due to read a judgment today following a 27-day case taken by Mr Lynch, his wife and children over a €25m loan they took out for a failed property inve-stment with developer Gerry Conlan.

They took the case against AIB and two firms of solicitors, LK Shields and Matheson Ormsby Prentice.

Petroceltic soars on Exxon move


SHARES in Petroceltic closed up 15.3pc in Dublin yesterday following news that oil giant Exxon has bought oil licences in Kurdistan. Shares in the Dublin-listed explorer, whose main focus is Algeria, soared as investors reacted to news that Exxon had applied for six blocks in the Kurdistan region of Iraq.

Buffett builds up a 5.5pc stake in IBM


Warren Buffett has always made his distaste for technology investments clear, but yesterday he changed his ways in spectacular fashion. The Berkshire Hathaway chief said he has bought nearly $11bn (€8bn) of IBM stock in the last eight months, building a roughly 5.5pc stake that potentially makes him the largest shareholder.

Banks' staff fear rise on job security


A SURVEY of banking staff has revealed a chronic lack of confidence in management of the banks and only one in seven staff feeling confident about their own job security. The survey was carried out last week by the UNITE trade union. It has almost 5,000 members working in IL&P, EBS Ltd, and Bank of Ireland incorporating New Ireland Assurance and ICS.

Irish Independent

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