Kennedy sells off shares for over €1m
PADDY Power chief executive Patrick Kennedy has sold just over 22,000 shares in the company for slightly more than €1m. A stock exchange filing yesterday indicated Mr Kennedy offloaded the shares for €47.56 each, three days after the company issued strong full-year results. He's left holding 441,000 shares, currently valued at €20.6m.
Three appointed to Fund for Ireland
THE International Fund for Ireland has appointed three new board members, while three others have been returned for a second term. Dorothy Clarke, the former chief executive of Leitrim County Enterprise Board; Siobhan Fitzpatrick, chief executive of Early Years; and former senior civil servant Billy Gamble join the board. Rose-Mary Farrell, David Graham, and Winston Patterson will continue as members for a second three-year term.
Barclays boss made €7.5m last year
BARCLAYS boss Bob Diamond made £6.3m (€7.5m) in 2011 and the chiefs of two UK taxpayer-backed banks are set for additional multi-million-pound windfalls. Stephen Hester, Royal Bank of Scotland's chief whose recent £1m bonus provoked a storm of controversy, is set to receive shares from a long-term incentive scheme currently worth £1.6m. RBS's head of investment banking, John Hourican, will receive almost £7.5m in pay, bonus and shares for 2011. The disclosures from three of the UK's biggest banking groups left City investors deluged with information on pay and bonuses during the day.
Carnival earnings set to drop by 80pc
Carnival, the cruise company that owned and operated the Costa Concordia, said that its earnings this year could fall as much as 82pc. Thirty- two people died when the Costa Concordia sank off the Italian coast in January. The Miami cruise line has reduced its forecast profits to between $1.40 (€1.06) and $1.70 a share. The company had previously forecast profits of $2.55 to $2.85 a share. Carnival says the sinking of the Costa Concordia is the sole cause for this change. The company yesterday posted losses of $139m for the first quarter of 2012. This is in contrast to a profit of $152m in the same quarter in 2011.