Jon Ihle

Finance Minister Paschal Donohoe, left, and NTMA Chief Executive Conor O'Kelly.

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NTMA warns investors of negative impact from global taxreform

The National Treasury Management Agency (NTMA) has outlined the potential loss to Ireland from global tax changes in a presentation to bond investors.

Mannok earnings hit €31m despite disruption

People eating more meals at home due to pandemic lockdowns helped building materials and packaging company Mannok increase its earnings in 2020, despite disruption to the construction-facing business from mandatory closures and Brexit.

Dairygold is looking to diversify into ingredients for baby formula and the adult nutrition market. Photo: Gabriel Cassan

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Dairygold set to raise money for new acquisitions to boost health business

DAIRYGOLD Co-operative Society is preparing to sell financial and property assets to raise €75m to make acquisitions to bolster its new health and nutrition business, the Irish Independent has learned.

The value of FanDuel and DraftKings has surged as US states have legalised online gaming. Photo: Andrew Harrer/Bloomberg

Fox lawsuit could slow path to IPO for Flutter’s FanDuel

A lawsuit by Fox Corporation against Paddy Power-owner Flutter over the value of sports betting company FanDuel could complicate and delay the path to an initial public offering (IPO) for the fast-growing business.

Central Bank says interest rates were well above the European average, too, with smaller borrowers paying as much as 2.5 times euro area peers

Borrowing trend improves but businesses still slow to take ondebt

Lending to businesses continued to recover in February, but overall volumes were still lower than February 2020, according to new statistics from the Central Bank.

Dairygold building war chest for new acquisitions to boost health business

DAIRYGOLD Co-operative Society is preparing to sell financial and property assets to raise €75m to make acquisitions to bolster its new health and nutrition business, the Irish Independent has learned.

Supports: Neil McDonnell of ISME said the scheme plugs a lot of gaps. Photo: Karen Morgan

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Wage subsidies to continue as Govt plans to phase out PUP

The Government is likely to extend the Employment Wage Subsidy Scheme (EWSS) beyond the end of June as it seeks to phase out Pandemic Unemployment Payments (PUP) to encourage people back to work.

(l-r) Patrick and John Collison of Stripe

Collisons lead the Irish on Forbes billionaires list

Stripe founders Patrick and John Collison have a combined real-time net wealth nearly twice that of the other four Irish billionaires, according to estimates included in the annual Forbes billionaires list.

SPACs shortcut the IPO process on Wall Street

An Irish-led SPAC is fully loaded for digital disruption acquisitions

An Irish-fronted ‘blank cheque’ company that raised almost $400m (€340m) in January via a New York flotation has told investors that it is continuing to hunt for an acquisition.

Julius Baer chief executive Philipp Rickenbacher is known to be hungry for transformative deals. Photo: Bloomberg

Julius Baer free to pursue Davy after merger ban ends

Potwntial Davy bidder Julius Baer is free to pursue acquisitions again after the Swiss financial regulator lifted a 13-month ban on the private bank for anti-money laundering failures related to alleged corruption in FIFA and Venezuelan oil firm PDVSA.

Report: CEO Colin Hunt said fundamentals of AIB's business remain robust and sustainable. Photo: Gerry Mooney

AIB seeks permission to buy back some of State’s shares

AIB is seeking permission to buy back some of the State's 71pc shareholding in the bank after its annual general meeting (AGM) on May 1.

Jose Manuel Campa, chairman of the European Banking Authority. Photo: Luke MacGregor/Bloomberg

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AIB shares Europe's best performer as Ulster Bank exits

AIB was the best-performing bank stock in Europe in the first quarter as investors welcomed the departure of Ulster Bank from the Irish market and the prospect of improved revenue trends in 2021.

Boost: Sharon Donnery, deputy governor of the Central Bank. Photo: David Conachy

Central Bank eyeing SSIA-style boost from savings

Additional spending from built-up savings in the last year could inject €5bn into the Irish economy once the pandemic recovery gets underway, according to new Central Bank research.

Paschal Donohoe has used the budget to keep firms afloat during lockdown. Photo: Gareth Chaney/Collins Dublin

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CRSS set to exceed budget amid longer lockdowns

Spending on the Government’s Covid Restrictions Support Scheme (CRSS) is set to exceed the original amount put aside for the programme when it was announced as part of Budget 2021 last October.

Eight Fifty Group shelves IPO for sale to Canadian buyer Sofina

Private equity group CapVest Partners has agreed to sell Eight Fifty Food Group, the owner of Irish meat companies Carroll's Cuisine and M&M Walshe, to Canadian group Sofina Foods for an undisclosed sum.

5G to add €1.1trn to global economy over the next decade, according to PWC report

The roll-out of 5G network technology will boost the global economy by €1.1trn in the next decade and bring major benefits to key sectors of the Irish economy, according to a new report by PWC.

Finance Minister Paschal Donohoe will discuss proposed EIIS changes in a two-day webinar at the end of the month. Photo: Steve Humphreys

EIIS could include VC money for start-ups

The Government is considering extending generous tax breaks to investment in startups affected by Covid in a planned expansion of the Employment Investment Incentive Scheme (EIIS).

NatWest finds cash for buybacks after cutting Ulster Bankloose

Ulster Bank's parent NatWest Group is handing more than £1.1bn (€1.28bn) back to UK taxpayers just a month after announcing its Irish exit because of poor capital returns here.

Heavy hit: Eir had secured the Irish rights to the Guinness Pro 14 Rugby in 2018, but that contract is running out this year. Photo: Gareth Everett/Sportsfile

Eir quitting sports broadcasting after revenue cut in half

Eir has decided not to participate in the latest round of sports rights auctions, effectively calling time on the company's foray into subscription-based sports broadcasting and casting doubt on the future of Eir Sport.

Three Ireland reports modest profit as user base grows

Mobile operator Three Ireland has reported a modest 3pc increase in earnings for 2020 to €217m, in line with projections during what the company called “a challenging year”.

Buyout: Co-CEOs Tom Godfrey and Ted Webb of IBI

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In person ‘It’s very difficult for politicians to get up in the Dáil and say they think bankers should get paid more’

Tom Godfrey could be calling from anywhere.

SBCI headquarters at Treasury Dock on North Wall Quay in Dublin

State loan scheme gets boost from non-bank lenders

The Covid Credit Guarantee Scheme (CGS) had three of its biggest weeks for lending starting in February in a sign that adding several non-bank lenders as distributors for State-backed funding early in the year might be paying off.

Unleavened bread called matzoh must be certified ‘kosher for Passover’ to be fit for consumption. Photo: Ron Antonelli/Bloomberg

Brexit hits kosher food supplies ahead of Passover holiday

Brexit trade disruption has left Dublin’s small Jewish community scrambling for a reliable supply of kosher goods just a week before Passover, one of the most important holidays in the Jewish calendar.

The Casa Elemento Hostel in Colombia is a Hostelworld site

Hostelworld hangs on during a ‘gruelling’ pandemic year

Hostelworld, the Dublin-based online travel agent focused on the global hostel market, had an 81pc drop in net revenue last year as Covid restrictions worldwide wreaked havoc on the travel industry.

Money laundering regime extended to bitcoin from April

Buyers and sellers of cryptocurrencies including bitcoin will no longer be able to trade assets anonymously in Ireland under an expanded anti-money laundering regime

Board departure: Tony Garry, then-CEO of Davy (left) answers a question at the launch of the Davy Direct share-dealing service in 2000 while Bank of Ireland's Des O'Reilly looks on. Photo: Tony Gavin.

Former Davy CEO departs boards amid bond scandal fallout

Former Davy Group chief executive Tony Garry has resigned as chairman and director of BES Management, a joint venture between Davy and BDO for managing investments under the Employment and Investment Incentive Scheme (EIIS).

Davy valuation could fall by more than 50pc from €400m

Davy Group’s ultimate sale price is likely to be far below its estimated value before the fallout from a bond scandal sent the company into a tailspin over the last two weeks.

The Davy offices on Dawson Street, Dublin

Davy CEO tries to calm clients after tumultuous two weeks

Davy interim chief executive Bernard Byrne has issued an apology to clients for the firm's role in a 2014 bond deal and the findings of a Central Bank investigation into the transaction.

Crisis recovery: ECB's Christine Lagarde wants to see a more convincing environment for financing. Photo: Olivier Matthys/Pool via REUTERS

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Jon Ihle and Sarah Collins Opinion ANALYSIS ECB back in market after Ireland has to pay to borrow

Exactly one year ago, with Italian bond yields soaring as Covid raged across the country, European Central Bank (ECB) president Christine Lagarde infamously pronounced "we are not here to close spreads".

For sale: The Davy offices on Dawson Street, Dublin

Davy put up for sale in effort to close the book on bond scandal

Davy Group has confirmed that it is being put up for sale following a week and a half of unrelenting negative publicity and instability arising from a bond dealing scandal.