Former AIB boss in €1.7bn takeover deal for Virgin Money
Former AIB boss David Duffy's CYBG has sealed a £1.7bn (€1.9bn) deal to buy Virgin Money that will catapult the lender to the top of Britain's emerging class of so-called challenger banks.
Former AIB boss David Duffy's CYBG has sealed a £1.7bn (€1.9bn) deal to buy Virgin Money that will catapult the lender to the top of Britain's emerging class of so-called challenger banks.
The ISEQ index weakened yesterday, with a sharp drop in Bank of Ireland among the notable declines.
The European Union (EU) plans to restrict participation in joint-defence projects to companies based in the bloc, setting up potential tensions with the US and post-Brexit Britain over research-and-...
Medical device maker Stryker Corp has made a takeover approach to Boston Scientific Corp, the 'Wall Street Journal' has reported.
Ireland fell out of a top 10 ranking of the most attractive European destinations for foreign direct investment (FDI) last year, slipping to 11th place overall after being overtaken by Finland.
The State collected a record €20.5bn in taxes in the first half of the year, but an increase in spending meant an Exchequer deficit of €24m for the six months to the end of May.
The UK Government has confirmed that it has disposed of a 7.7pc stake in Ulster Bank owner Royal Bank of Scotland (RBS).
Social Protection Minister Regina Doherty has indicated she's prepared to examine cutting child benefit for higher earners to pay for childcare for all.
Irish IT services firm Version 1 has announced a deal to buy London-based Cedar Consulting, and is eyeing further deals in the UK and northern Europe.
Independent News and Media (INM) has appointed two new chairs to sub-committees of the group's board, effective from May 31.
Serial entrepreneur Norman Crowley has agreed a €10m deal to buy Modus Energy in Kilkenny, an energy services business that helps clients monitor their energy use.
Canada will host leaders of its fellow G7 group of big economies at a summit in Charlevoix on Friday and Saturday, including Donald Trump, Angela Merkel, Emmanuel Macron, and the incoming...
Angela Merkel has backed much deeper European integration in relation to the refugee crisis and defence, but rejected a "debt union" that...
The European Union, Canada and Mexico retaliated yesterday after the US imposed tariffs on imports of steel and aluminium.
Ireland is an expensive place to run a business or for workers to live, according to the National Competitiveness Council's latest 'Cost of Doing Business in Ireland' report.
Yew Grove real estate investment trust (REIT) became the first new share to trade on the Irish stock exchange since it became Euronext Dublin, after listing on the Enterprise Securities Market (ESM).
Irish borrowers are being warned to prepare for an era of higher borrowing costs, as the European Central Bank gave the clearest signal yet that it will wind down its €30bn-a-month quantitative easing programme.
Danish jewellery chain Pandora's shares fell as much as 4.6pc in early trading yesterday, extending the latest decline into a second day.
Smurfit Kappa sought to lay down a marker that its stand-alone status won't dampen investor returns, by yesterday reaffirming guidance that 2018 earnings will be materially up on last year, after International Paper (IP) abandoned its €9bn takeover pursuit.
The loss to Ireland of just one of the bigger multinationals would leave the State nursing a €276m tax shortfall, according to the Government's budget watchdog.
The British government has launched a sale of 925 million shares in Ulster Bank parent Royal Bank of Scotland (RBS) for around £2.6bn (€2.9bn) as it seeks to return the bank to private hands, the government unit managing its stake said yesterday.
Larry Goodman's ABP Food Group is to invest £17m (€19.35m) in a planned redevelopment of its Perth processing plant in Scotland that will create 80 new jobs.
Independent News and Media (INM) has appointed two new chairs to sub commitees of the group's board, effective from May 31.
Blame China, Europe and others who are breaking trade rules, not Donald Trump, White House economic adviser Larry Kudlow said yesterday, as China warned that all commitments so far in talks with the US over trade will be withdrawn if the US imposes tariffs.
Builders who emigrated during the recession and have returned to Ireland cannot find work because qualifications earned in jurisdictions such as Australia, Canada, the US, New Zealand and Dubai are not recognised here, the Construction Industry Federation has said.
Shares in CRH were up more than 4pc yesterday after the country's biggest company indicated it could sell its European construction supplies retail arm, as it looks to boost margins and squeeze more cash out of operations.
The Central Bank may start cranking back banks' ability to lend into the economy, by forcing them to set aside extra capital as a cushion against losses.
The European Union will target consumer, agricultural and steel products made in many key Republican constituencies when it imposes tariffs against US imports in retaliation for punitive duties US President Donald Trump announced yesterday.
The top official charged with ensuring the State has access to funds says a €20bn cash pile already built up gives the country "flexibility and freedom" to dip in and out of markets without being caught out by volatility.
The body that runs club soccer in Scotland has rejected a call from the chairman of the Rangers Club for an investigation into possible business ties between Scottish Professional Football League (SPFL) chairman Murdoch MacLennan and Dermot Desmond, who is Celtic’s single biggest shareholder.
Independent News and Media (INM) has announced that Terry Buckley is stepping down as a director with effect from May 31. He has been a director since 2012.
Independent News and Media (INM) has announced that Terry Buckley is stepping down as a director with effect from May 31 2018. He has been a director since 2012.
Rusal said output this year may be cut by as much as 70pc in a so-called "negative" or worst-case scenario if US imposed sanctions stay in place after October.
Chaos ruled the Italian markets yesterday as the nation plunged deeper into political turmoil, with knock-on effects for other highly-indebted eurozone countries - including Ireland.
Specialist SME lender Bibby Financial Services has applied for an Irish licence to operate a foreign exchange (FX) service, with a view to passporting from here into the rest of the European Union.
Independent News & Media (INM) has confirmed the appointment of Richard McClean in the newly created senior role of Managing Director of Publishing for Ireland, with responsibility for the media group's commercial and editorial teams.
Independent News & Media (INM) has confirmed the appointment of Richard McClean in the newly created senior role of Managing Director of Publishing for Ireland, with responsibility for the media group’s commercial and editorial teams.
Shares in Independent News & Media closed up 6.3pc and broke the 10 cents each mark for the first time since early March yesterday in the wake of news that Larry Goodman has built up a stake in the country's biggest media group.
Ryanair has never made an approach for Norwegian Air and does not intend to, the Irish airline has said - disputing a claim by the chief executive of its rival budget carrier.
Businessman Larry Goodman is understood to have bought a stake of just under 3pc in Independent News and Media.
Barriers to trade as a result of Brexit, like import-export delays and additional red tape, could cost nearly €100m a week, new research from the Central Bank suggests.
The European Commission has claimed that tax multinationals are continuing to use Ireland for "aggressive tax planning" and that funds routed through here as royalty and dividends payments may be being allowed to escape tax altogether, despite rules being tightened up in 2015.
The Strategic Banking Corporation of Ireland (SBCI) has extended €25m to Bibby Financial Services Ireland, that will be available immediately to borrowers.
The UK government is to follow last week's sale of €5bn of Irish mortgages - originally issued by Bank of Scotland Ireland (BoSI) - by auctioning an £850m (€969m) block of mortgages acquired from failed lenders during the financial crisis, according to people familiar with the matter.
Independent News and Media group editor-in-chief Stephen Rae is to step down from the position.
Musgrave Group is eyeing the acquisition or creation of a mid-market restaurant chain in Ireland to cement its position as a major player at every level of the food service industry.
Dublin-based UDG has $500m (€424m) available for acquisitions, and said US tax changes mean it is now more likely to buy assets there.
Musgrave Group is studying the Government's 'Ireland 2040' infrastructure plans as well as demographic trends as it plots new store and product rollouts. It believes intensive urbanisation in Dublin and Belfast will suit its online grocery business.
Rising rents and house prices in Ireland need close monitoring, Moody's has warned, but there is no sign yet that the economy is overheating.
Danish jewellery brand Pandora has agreed a deal to take direct ownership of its Irish business from family owned BJ FitzPatrick for €20m.
Retail and wholesale group Musgrave made a pretax profit of €80m in the year to December 30, on sales of €3.7bn.
Rising rents and house prices in Ireland need close monitoring, Moodys has warned, but there is no sign yet that the economy is overheating.
New data has highlighted the productivity gulf between multinationals and indigenous firms in Ireland. However, with imperfect data, the 'Leprechaun economics' that distorted growth figures in 2015 may have exaggerated the differences.
The chairman of Independent News & Media (INM) has admitted the group doesn't know what the financial cost will be of ongoing probes by the Office of the Director of Corporate Enforcement (ODCE) and Data Protection Commissioner.
Barclays Bank's deal to buy £4bn (€4.5bn) of Irish mortgage is not a signal the bank intends to enter the retail market here, and the loan book will be immediately sold to a consortium of financial institutions, the Irish Independent understands.
The chairman of Independent News & Media (INM) has admitted the group doesn’t know what the financial cost will be of ongoing probes by the Office of the Director of Corporate Enforcement (ODCE) and the Data Protection Commissioner.
Independent News & Media (INM) said its trading performance in the year to date continues “in line with market expectations” in a market update ahead of the group’s annual general meeting in Dublin today.
Paddy Power Betfair's market valuation surged more than €400m yesterday, after the betting giant confirmed talks to merge its US business with America's FanDuel to capitalise on the expected liberalisation of US betting laws.
Italian bonds slumped as populist parties struggling to form a government discussed a potential government debt write-down of €250bn.
The European Union is unlikely to meet a June goal to complete work on its banking union, according to one of the finance chiefs involved in the negotiations.
Euronext funded the €137m takeover of the Irish Stock Exchange by issuing bonds at an interest rate of just 1pc. The Paris-based group's CEO insisted yesterday that buying the Irish rival was not tax driven.
Employees of ZTE, China's second-biggest telecoms equipment maker, reportedly cheered a tweet by US President Donald Trump that suggested a resolution is in sight to reverse a devastating US ban on sales to the Chinese company.
The Government should not cut income tax in the October Budget, and instead focus on preventing the economy overheating the International Monetary Fund (IMF) has warned.
CANADIAN infrastructure fund Brookfield Asset Management is behind a proposed acquisition of Imagine Communications Group, according to the Competition and Consumer Protection Commission (CCPC).
Digicel said it is among operators potentially affected by American-imposed restrictions that ban US firms doing business with China's ZTE Corp, one of the Irish-owned mobile telecoms and communications group's key suppliers.
Ulster Bank has put 6,500 Irish mortgages, with a combined €1.6bn of debt, on the market in the latest mass sale of home loans by an Irish bank.
Dubliner Rosaleen Blair's high-end recruitment and outsourcing firm Alexander Mann Solutions has been sold for £820m (€929m) to Canada's Omers Private Equity.
ULSTER Bank is putting 6,500 Irish mortgages, with combined debts of €1.6bn, on the market in the latest mass sale of home loans by an Irish bank.
Borrowing costs are set to rise for AIB, Bank of Ireland and Permanent TSB, Investec analyst Owen Callan has said in a research note.
Vodafone is set to shake up Europe's fragmented media and telecom market with an €18.4bn deal to buy almost a third of John Malone's Liberty Global
Major European companies including carmaker PSA, plane manufacturer Airbus and Siemens have said they are keeping a close watch on relations with Iran after President Donald Trump pulled the United States out of a nuclear deal.
FORMER AIB boss David Duffy has launched a £1.6bn takeover bid for Virgin Money. A deal would consolidate Duffy's CYBG, owner of Clydesdale and Yorkshire Bank, as the main so-called challenger bank in the UK market.
Bank of America Merrill Lynch (BAML) has named key staff who will move to Dublin ahead of Brexit, to join the bank's new European global banking and markets operations.
Outgoing Ulster Bank boss Gerry Mallon says it's been a "really difficult decision" to leave the role after less than two years in charge.
Japan's Takeda Pharmaceutical has agreed to buy London-listed Shire for £45.3bn (€51.2bn) in the biggest deal yet in a wave of deals sweeping the drugs industry. Shire rejected four previous offers.
Vodafone is close to buying large parts of TV3 owner John Malone's European cable group Liberty Global in a deal worth around €18bn, in a move that will end years of on and off talks between the two companies.
Major semi-state companies are understood to have begun lobbying Government on how to tighten planning laws in order to speed up construction of key infrastructure projects.
Aer Lingus sister airline Level may look to start a low-cost transatlantic service from Ireland, regardless of any tie-ups with Norwegian.
Business growth is at its lowest in five years and confidence is increasingly strained across the island of Ireland, according to research from InterTrade Ireland.
IAG could ditch its stake in low-cost operator Norwegian Air Shuttle if takeover talks don't progress, Willie Walsh told the Irish Independent.
Irish waste and environmental services group Enva has announced the acquisition of RILTA Environmental, part of the former One51's old Clearcircle arm.
The National Asset Management Agency (Nama) has begun reporting details of its borrower loans to the Central Credit Register, after securing special permission to hand over its data significantly later than most lenders.
The Central Bank here is to launch simulated cyberattacks on banks, to stress test the resilience of the sector to sophisticated hacking.
US brokerage Cantor Fitzgerald has agreed a takeover deal for Dublin-based stockbroker Merrion Capital.
A record €1bn Irish payment into the European Union budget was a significant factor in a deterioration in the State's financial position last month and will bring home the stakes in difficult talks due to kick off in Brussels.
Workers at Aughinish Alumina in Limerick may have been thrown a life-line after a top US official pointed the way to sanctions against the huge plant's Russian parent company being lifted.
Ulster Bank's operations in the Republic will escape a radical cull of its UK parent's branch network in England and Wales.
Sean Corkery has stepped down as CEO of Actavo, the former Siteserv, with immediate effect, the company has announced.
Sean Corkery has stepped down as chief executive of Actavo, the former Siteserv, with immediate effect, the company has announced.
Most people now think buying a home is cheaper than renting, not only in Dublin but across the country, according to research from Bank of Ireland.
Davy Stockbrokers has radically hiked its growth expectations for the Irish economy this year, and is predicting a sharp spike in consumer spending as the debt overhang from the crash starts to recede.
Ulster Bank says operating costs reduced sharply in the first three months of the year, but profits slumped by around two-thirds to €11m.
A takeover of Dublin-based stockbroker Merrion Capital by the Irish arm of US brokerage Cantor Fitzgerald is imminent, the Irish Independent has learned.
A failure to increase forestry levels will constrain growth in the dairy and beef sectors, by making environmental emissions targets impossible to reach, the head of Coillte has warned.
Ardagh Group reported first quarter revenue showing sales up 13pc to $2.22bn (€1.83bn).
Irish renewable energy firm Amarenco has emerged as the number one buyer in French tariff auctions for 'Solar Barns'. The company won a total of almost 36MW of capacity either in its own right or in partnership with Total Solar.
Shares in Aughanish Alumina's Russian-controlled owner Rusal jumped in Hong Kong yesterday and aluminium prices fell after the US administration softened its position on sanctions against the Russian metals giant.
Paddy Power Betfair was the big mover on the Irish stock exchange yesterday, down 3.77pc on concerns the British government will cap betting on so called fixed odds betting terminals (FOBT) at £2 a turn.
The Competition and Consumer Protection Commission (CCPC) has given the green light to the takeover of the Irish Examiner by the Irish Times.
Outsourcing giant Capita, which at one point managed tens of thousands of Irish home and SME loans as well as major State contracts, has been forced to tap shareholders for £700m (€800m) after failing to control costs and an aggressive spate of acquisitions.
Irish insurance bosses fear they'll struggle to be compliant with tough new data rules in May, potentially leaving their businesses liable for multi-million euro fines.
Ulster Bank will name British banking executive Jane Howard as its new chief executive officer, the Irish Independent can reveal.
Bank of Ireland customers have been offered €130m in compensation and redress payments so far in relation to the tracker mortgage scandal and most have accepted, CEO Francesca McDonagh said yesterday.
Ulster Bank has appointed former Communicorp CEO Gervaise Slowey to its board of directors.
Bank of Ireland chief executive Francesca McDonagh says customers have accepted €130m in compensation and repayments so far in relation to the tracker mortgage scandal.
SIGNING off on a bonus bonanza for bankers will be politically toxic for whatever minister is in situ when the review ordered yesterday by Paschal Donohoe comes back with its findings.
Northern Ireland's Dale Farm says it's interested in rival LacPatrick, which revealed on Wednesday that it was examining "strategic options" understood to include a merger or sale of the business.
Independent News & Media (INM) faces the prospect of “incurring material costs” in relation to investigations by the Office of the Director of Corporate Enforcement (ODCE) and the Data Protection Commissioner investigations, the newly installed chairman Murdoch MacLennan has warned in the foreword to the company’s annual report.
The Government is set to establish a review to look at the vexed question of allowing a return of bankers' bonuses at bailed out lenders for the first time since the crash.
One of the biggest dairy co-ops in the Border region is in talks with as many as three potential merger partners.
Irish business chiefs overwhelmingly see European Union membership as important for the future of the Irish economy in general, a survey by employers group Ibec has found.
Shares in Dublin-based financial services firm IFG swung wildly yesterday - gaining 2.7pc at one stage before yo-yoing to a 2.4pc fall.
Shares in David Duffy's UK bank CYBG fell 6pc on Wednesday, after the lender said it had increased provisions for repaying customers missold payment protection insurance (PPI) by £350m. The move is a blow to the former AIB boss's effort to build CYBG in a challenger to the main UK lender.
As much as a quarter of the 7.8pc economic growth recorded here last year was simply down to iPhone sales, the IMF has claimed.
Swiss lawyers have been hired to chase down missing businessman Peter Conlon, whose Ammado fundraising platform collapsed owing €3.8m to charities, the Irish Independent understands.