Monday 16 December 2019

The week in 60 seconds: Noonan warning sees AIB slide

The entrance to AIB HQ on Serpentine Ave. Picture; GERRY MOONEY.
The entrance to AIB HQ on Serpentine Ave. Picture; GERRY MOONEY.

Paul O’Donoghue

While most would say that honesty from a politician is a good thing, AIB probably don't think so. The state-owned bank saw its shares tumble by almost a fifth, wiping out billions in notional value, after Finance Minister Michael Noonan warned that its shares were overvalued by the markets, prompting a swift sell off.

Sweden gives debt deal all clear

Although widely expected, there was still no doubt at least some mild feelings of relief in Leinster House after the Swedish parliament gave Ireland the thumbs up to offload some of its IMF bailout debts ealier than expected. The Scandanavian country was the last EU nation to approve the deal, which could save taxpayers as much as €400m a year.

John Boy overshadows Facebook

Although Facebook's HQ went up for sale for a whopping guide price of more than €160m, it was a property featured in hit drama Love/Hate that grabbed the attention of most.

The home of fictional crime boss John Boy is for sale as part of block of 14 apartments for a cool €3.5m, prompting envy from fans and wannabe gangsters alike.

C&C gains from UK law change

Bulmers and Tenemant's maker C&C were probably raising a toast to the UK's House of Commons on Tuesday night. The government unexpectedly passed a measure which, if it becomes law, will allow drink companies greater freedom in who they buy from. With C&C expected to benefit, shares were up 4pc the next day as a result.

Malone's €20m for Limerick hotel

Irish-American businessman John Malone has shown a certain fondness for Irish property. The 73-year-old billionaire paid almost €20m for the Limerick Strand Hotel, having already splashed out €90m for a pair of Dublin hotels and €8m for a Wicklow castle.

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