Government to sell around €325m of AIB shares

The Minister for Finance, Paschal Donohoe TD, has announced plans to sell around 5pc of AIB by way of a so called placing to institutional investors – effectively inviting buyers to bid for a share of the available stock.

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Revolut launches ‘buy now, pay later’ product in Ireland

Digital bank Revolut has begun rolling out a buy now, pay later instalments payment product with customers in Ireland from this week.

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Lenders are forced to re-run credit checks after Central Bank’s debt register failure

The Central Bank has told lenders to re-run thousands of credit checks after admitting its Central Credit Register (CCR) was not operating correctly on June 8 and 9, the Irish Independent can reveal.

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It’s inflation once again: Fast rising prices to dominate pre-budget event

Rising prices for steel, timber and energy risk making some housing schemes unviable, the National Economic Dialogue will be told as ministers, experts and academics gather for a major pre-budget event.

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Inflation spikes again to 8.3pc threatening more rate rises

Inflation in Ireland has surged again and was running at 8.3pc in May, the highest level since the 1980s. The new inflation figure from Eurostat shows the rise in the cost of living here is running below the EU average but significantly higher than France and Malta where the rise in the cost of living was 5.8%pc in May.

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Central Bank warns of oversupply risk to the office market

A flood of new offices hitting the market is running well in excess of post-pandemic demand which has been dampened by the big shift to remote working, the Central Bank has warned.

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Iseq drop heads for 25pc as markets brace for Fed hike

Shares in Dublin fell for a seventh straight session on Tuesday and is approaching its lowest level for the past 12 months.

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Italian government bonds hit hard as markets bet against the ECB

The Irish Government’s implied cost of borrowing soared further on Monday as bond market traders bet European Central Bank (ECB) rates hikes will be bigger than the quarter of a percent each in July and September already announced.

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Irish borrowing costs spike as ECB gets ready to hike rates and end quantitative easing

The Irish Government’s cost of borrowing on the bond markets neared an eight-year high on Wednesday ahead of a highly anticipated meeting of the European Central Bank’s policy setting governing council.

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Everything you need to know about the new gender pay-gap rules

This month is the deadline for all employers with 250 or more employees to take a snapshot of differences in pay between male and female workers for the first time.

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Tesco must sell Joyce family’s Oranmore outlet to complete purchase of other stores

Tesco must sell the Joyce’s Supermarket outlet in Oranmore in order for its purchase of the rest of the chain to go ahead, the Competition and Consumer Protection Commission (CCPC) has ordered.

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Derek Foley Butler interview: ‘I was probably one of these well-intentioned, sort of crusading entrepreneur types’

“A CARDIAC arrest in the business is the best way of describing it.”

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AIB expects to make €90m a year after agreeing terms to buy Ulster’s €5.7bn of trackers

AIB and NatWest yesterday confirmed the Irish bank’s acquisition of Ulster Bank’s €5.7bn portfolio of performing tracker mortgages, as the huge shift in the banking market to just three main players gathers pace.

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Local authorities slash and ‘dezone’ land that could be used for 100,000 homes

Local authorities around the greater Dublin area have slashed enough land to deliver more than 100,000 new homes from their housing delivery plans including dezoning significant areas of the commuter belt, according to research by Savills.

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Sharp drop in property deals in first three months of 2022

The value of commercial property investments dropped almost 40pc in the first three months of this year, although demand for residential blocks and logistics parks remains strong.

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Law firm Bird & Bird hires deputy DPC in Dublin expansion drive

INTERNATIONAL law firm Bird & Bird intends to have around six partners in its Dublin office by the end of this year, plus a team of supporting associates, as it looks to build a significant Irish presence.

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Hundreds of Irish PayPal staff facing compulsory redundancy as tech companies across Europe cut costs

More than 300 staff at PayPal face compulsory redundancy as the company joined a scramble across the tech sector to slash costs amid a massive stock market sell-off and growing fears of recession.

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Bank of Ireland deal helps Dilosk and Finance Ireland through rates squeeze

Bank of Ireland will have to help finance its competitors – Dilosk and Finance Ireland – to the tune of a €1bn funding pot as the price for its purchase of KBC’s mortgage book.

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FBD shareholder scooped €9m in Covid supports

Farmer Business Developments, which owns a 24pc stake in FBD Insurance as well as a chain of hotels, paid its shareholders €8.9m of dividends after collecting €8.2m of state Covid supports over the past two years.

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From house prices to your savings – Key ways higher interest rates will affect the real economy

European Central Bank (ECB) President Christine Lagarde gave the clearest guidance yet on Monday that the era of super low interest rates will end this summer. By the end of September the ECB will no longer charge banks for keeping their money overnight, Ms Lagarde suggested.

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Corre Energy to raise up to €15m in post-IPO share placing

Dublin stock market listed Corre Energy has announced plans to raise €10m to €15m through an issue of new shares nine months after its initial public offering (IPO) in September.

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Builders say they can’t lock in price of contracts over expected rise in inflation

Nine out of 10 of builders say they are no longer prepared to commit to fixed-price contracts as a result of the expected surge in inflation – a move with major implications for private and State sector tendering.

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Sharp drop in new companies being set up but rural areas buck trend

The number of new companies registered in Ireland dropped 12pc in the first three months of this year compared to 2021 although rural counties held up better.

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Advertising should add value and not be disruptive, says head of Accenture Song

Knowing when to stay out of the way is under appreciated by advertisers and brands but key to consumer engagement, according to the head of Accenture Song – the $14bn (€13bn) division consolidating dozens of agencies and consultancies including Ireland’s Rothco into a new global brand.

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Bus operator Go-Ahead made €2.6m profit from Irish routes

Go-Ahead's Irish subsidiary made a €2.6m profit last year, according to accounts just filed for the business.

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Fully privatised bank sector risks worsening crashes – ECB

The Irish Government policy of re-privatising the banking sector by selling AIB and eventually Permanent TSB risks worsening any future financial crisis, an ECB working paper has warned.

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Office supplies giant in €34m Irish expansion drive

Office supplies group Lyreco is investing €34m in a new head office and distribution facility in Rathcoole, Co Dublin and intends to hire an additional 50 staff here – a roughly 50pc increase in the workforce.

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Zurich Foundation ties up with Rethink Ireland over youth mental health

Rethink Ireland, formerly the Social Innovation Fund Ireland, and insurer Zurich’s philanthropic arm have launched an initial €1.5m Headstart Fund aimed at addressing youth mental health issues.

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Most small firms expect to survive inflation squeeze

Small business owners overwhelmingly expect rising costs to reduce or severely reduce profits this year but most are confident their business will survive the inflation squeeze.

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Bulmers owner says minimum pricing boosts big brands

C&C’S deal to exit Admiral Taverns while retaining a contract to supply the UK pub chain constitutes is a “win-win” for the Irish drinks group, according to CEO David Forde.