Site preparation work for the scheme at the site of the former Berkeley Court hotel is under way, with initial construction work on the basement car park due to begin in September. Photograph: Dara Mac Dónaill

Chartered Land appoints JJ Rhatigan for scheme on site of former Berkeley Court

Rendering of Irish property and investment group Tetrarch Capital’s proposed Sackville Place hotel

Tetrarch Capital development involves change of use of Sackville House

Gerry Mallon, CEO Ulster Bank, Republic of Ireland: “I see Brexit as a short to medium-term challenge.” Photograph: Cyril Byrne

Gerry Mallon: ‘I bumped up against Ulster as a competitor and was aware of the calibre of people here’

 Gerry Mallon, CEO Ulster Bank: “We’ve made our application to the Central Bank for that [payment] to be made. It’s down to the regulators. We think we’ve got quite a lot of capital.” Photograph: Cyril Byrne / The Irish Times

This money, from surplus capital, would be first repayment to parent since £15bn bailout

A survey published this week by showed that the average rent rose in Dublin by 11.1 per cent on an annual basis in the second quarter of the year to €1,520. Photograph: Peter Byrne/PA Wire

Cork and Limerick have the space, universities and industry to take the pressure off Dublin

Sinn Féin finance spokesman Pearse Doherty: “They chose not to vote on the issue. Fianna Fáil once more are talking from both sides of their mouths.”

Criticism of consumer protection ‘disingenuous’, says Pearse Doherty

The proposed redevelopment of Donnybrook House in Dublin 4 by UK property group U+I, which has secured planning permission.

U+I gets planning permission for multi-million euro developments

Latest accounts for Pepper Finance Corporation (Ireland) DAC show that its revenue rose by 28 per cent to €37.8 million.

Mortgage provider’s profits fall to €6.3m after nearly doubling its workforce last year

 Former Virgin Media executive Mark Coan has been appointed commercial director of Permanent TSB. Photograph: Cyril Byrne

PTSB chief says Coan right candidate to lay foundations for sustainable profitability

Fianna Fáil’s finance spokesman Michael McGrath McGrath said a “half-baked system” now existed, whereby the servicing agent for the loan is regulated but the same requirement is not placed on the owner of the borrowings. Photograph: Eric Luke

Letter shows bank wanted investment groups acquiring mortgages from Nama regulated

Some 83 per cent of the Debenhams’ workforce across the 11 stores nationwide had voted in favour of cost-saving proposals, the court heard. Photograph: Eric Luke

High Court approves scheme that allows company’s 11 Irish stores to continue trading

John Fitzpatrick: “We don’t see any sign of a downturn in business from the UK at the moment.”  Photograph: James Higgins

New York group records 91% occupancy rate, but group profits hit by rising competition

 Niall O’Grady: “I’m agnostic on the industry, it’s really the challenge that I’m looking for.” Photograph: Eric Luke / The Irish Times

Executive at State-controlled bank says he will stay until early next year

Bank of Ireland: Only a small group of customers will be affected by the charge. Photographer: Frantzesco Kangaris/Bloomberg

Bank which is 14% owned by State to impose unprecedented levy on larger customers

 Shares in Ryanair rose by 1.5 per cent to €12.015 on improved market sentiment for the sector. Photograph: Alan Betson / The Irish Times

Germany’s Dax Index rises, with steelmaker Thyssenkrupp helping lead the gains

Colm Lauder: he is expected to join Goodbody in October and lead its equity research of the real estate sector

Colm Lauder the man to chat to about relocating once he sets up base in Goodbody

Cairn is in the early stages of an ambitious residential building programme in Ireland

Michael Stanley, Kevin Stanley and Alan McIntosh converted “founder” shares

CSO figures showed that motor insurance costs rose by more than 38 per cent in the year to July. Photograph: Getty images

Motor insurers and State act to address increased claims and rising premiums

Ulster Bank reported a reduced adjusted profit of €155 million for the first six months of this year, but improved its share of new mortgage lending to 18 per cent in the first quarter thanks to “hard work on the front line”.

Too early to say how many tracker customers have been affected, says Gerry Mallon

Ulster Bank had an adjusted half-year profit of €155 million. “Given that branches are profitable,  any suggestion of further cuts is very worrying,” said FSU general secretary Larry Broderick. Photograph: Alan Betson

Financial Services Union ‘surprised’ at comments made by bank’s new CEO Gerry Mallon

Ulster Bank’s cost-income ratio in the first half of the year reduced to 67 per cent from 74 per cent when the costs of restructuring and the tracker review are excluded. Photograph: Alan Betson

Skinny first-half profit reported as Gerry Mallon works to put his stamp on bank

Kennedy Wilson Europe president and chief executive Mary Ricks.

Property group says no active discussions under way with UK firms wishing to relocate

Ulster Bank chief executive Gerry Mallon said: “It has been a strong, customer-focused half-year for Ulster Bank, reporting an adjusted profit of €  155 million.”

Tracker mortgages investigation pushes first-half expenses to €402 million

Deloitte, liquidator of a company that provided administration services to the now defunct insurer – Setanta Insurance Services Ltd (SISL) – has published a notice calling on preferential creditors to lodge their claims by February 2nd 2017

Figures relating to defunct Malta firm that offered car insurance in Ireland include fees

Irish Water paid the State €6.2 million in interest and guarantee fees on loans that helped the utility fund the installation of water meters around the country. File photograph: Cyril Byrne/The Irish Times

Government makes up shortfall left by homeowners who did not pay charges

Ireland is to  host a second annual European Financial Forum at Dublin Castle on January 24th next year.  Photograph: iStock

Responsibility for international financial services had been with the Taoiseach’s office

Irish Life chief executive David Harney: “Our main focus during the quarter was on progressing the transactions to acquire Aviva Health and assume control of GloHealth,” Photograph: Dara Mac Dónaill

Costs of €16m expected from integrating new health insurance entities

Goodbody’s latest hire, Colm Lauder, is currently vice-president of real estate at Morgan Stanley Capital International in London

Stockbroker seeking to become the lead listed real estate broker in the Irish market

Berkshire Hathaway chairman Warren Buffet:  VHI is paying an interest rate of 9 per cent annually on the loan from Mr Buffet’s company, which helped to bolster the State health insurer’s capital resources. Photograph: Rick Wilking/Reuters

Report shows State health insurer paying interest on €90m debt to Berkshire Hathaway

The headlines around Europe about the Irish banks were negative and both AIB and Bank of Ireland found themselves on the back foot in terms of their messaging around the stress test results

Try as they might, AIB and Bank of Ireland ranked near the bottom of stress test results

Standard & Poor’s has said the UK’s decision to leave the European Union will “likely be negative” for the Irish economy. Photograph: Thierry Roge/Reuters

Rating agency affirms its positive outlook for both AIB and Bank of Ireland

Ulster Bank’s newly-installed chief executive Gerry Mallon said Ms Lyons “has a significant knowledge of the banking landscape”

Lyons joins from GE Financial Markets in Dublin where she recently held position of managing director of risk management

Depfa made a €49 million net loss last year, having turned in a €187 million loss in 2014. Illustration: Getty Images

FSM Wertmanagement buys €5.6bn of Depfa’s bonds and shrinks bank’s assets by 25%

PTSB waits until it has sold a property before settling the bill on the arrears. On average, there €6,353 was due in management fees per apartment sold by PTSB last year. Photograph: iStock

Sinn Féin’s Doherty says the fees should be paid immediately on repossesed properties

The Construction Industry Federation said the number of house completions this year could be lower than the 12,666 in 2015, at a time when demand is put at 25,000 units annually. Photograph: Frank Miller

Construction Industry Federation calls for increase in FTB loan-to-value threshold

Bank of Ireland shares closed down at 17.3 cent after some 83 million shares changed hands on Monday. Photograph: Frank Miller

AIB executives contact institutional investors to explain context of poor EU test results

Latest accounts for Linked P2P Ltd show it had accumulated losses of just more than €1 million at the end of April 2015.

Linked Finance plans to lend €350 million to Irish SMEs by end of 2019

Housebuilding stocks in the UK  suffered amid fears that economic growth is grinding to a halt. Taylor Wimpey was the biggest faller, off more than 4 per cent or 7p to 147.7p. Photograph: Rui Vieira/PA Wire

‘The data doesn’t tell us much,’ says expert, but ‘investors are sceptical about everything’

Bank Of Ireland College Green Dublin . Photograph: Bryan O'Brien

State’s two main banks were worst financial institutions in Europe-wide test

Anglo trial: Three ex-bankers jailed over  fraud scheme

Willie McAteer and John Bowe of Anglo and Denis Casey of Irish Life convicted of fraud

While there is no “pass” level in the test, AIB’s capital was seen to fall below 5 per cent, if there was a prolonged economic downturn. Photograph: Cyril Byrne

State’s two main banks could see capital levels fall if economic shock hits

Bank of Ireland chief executive Richie Boucher: signalled Brexit vote could affect timing of a dividend payment

Bank of Ireland’s results ahead of expectations in spite of 25% fall in underlying profit to €560m

Bank of Ireland announced an underlying profit of €560 million in the first six months of this year, down from €743 million in the same period of 2015

Bank says Brexit could impact timing of dividend payment

These results were supposed to be a final validation of the bank’s recovery story before its glorious return to the main markets in the autumn but market volatility and Brexit have put paid to that.

IPO in 2017 would be timely – bank still owes taxpayers €17bn

AIB: the Financial Services Union has called on the bank to reassure staff and customers about the future of the branch network in Northern Ireland, especially as the bank had posted a pretax profit of €1 billion for the first six months of this year.   Photograph: Aidan Crawley/Bloomberg

Bank begins strategic review of operations in UK and its First Trust network in North

AIB chief executive Bernard Byrne: the bank’s “entire capital stack needs to be rewarded and remunerated”.  Photograph: Cyril Byrne

AIB has not paid any dividend since 2008 when it came under the bank guarantee

Photograph:  Cyril Byrne/The Irish Times

First half profit might have been 16% lower year on year but was in line with expectations

Photograph: Bloomberg

Bank indicates it will compensate affected customers for the error

Photograph: Aidan Crawley

Bank says profit driven by strong business performance and one-off benefits

PTSB  chief executive Jeremy Masding compared the old PTSB to flashy footballer Lionel Messi, and the new bank to William Carvalho: “Steady, doesn’t make many mistakes, market value went up during the European Championships, lets others take all the glory, doesn’t really give the ball away.” Photograph: Dara Mac Dónaill

Chief executive Jeremy Masding says the only way is up as PTSB beats expectations

Jeremy Masding, group chief executive of Permanent TSB,  and Patricia Carroll, interim group chief financial officer, announcing the Permanent TSB Group Holdings plc 2016 interim results for the first six months ended 30th June 2016. The bank  reported profits for the first time since 2007. Photograph: Chris Bellew/ Fennell Photography

Bank has proven it can survive and thrive, says chief executive Jeremy Masding

AIB has set aside €190m to cover the various costs associated with the problem. Photograph: Cyril Byrne/The Irish Times

Bank to offer financial compensation following trawl of tracker loans

PTSB  chief executive Jeremy Masding. The bank’s first half results were better than analysts had expected and marked the group’s return to profitability for the first time in nine years.

Brexit, regulatory costs and slow mortgage market growth are issues for bank

PTSB’s mortgage lending rose 4 per cent year on year to €211 million in the first six months of 2016.

Bank records €80 million profit following loss of €410 million in previous year

Permanent TSB is  expected to show a profit at group level for the first time since 2007. Photograph: Alan Betson

AIB, Bank of Ireland and Permanent TSB endure difficulties outside their control

AIB will pay the State €1.76bn tomorrow to redeem loan notes issued to it in July 2011 as part of its bailout from taxpayers. File photograph: Cyril Byrne

Bank is also expected to announce a net profit of €623m for 2016

 First Minister Arlene Foster and Deputy First Minister Martin McGuinness received letters from the Financial Services Union warning them of the effects  the Bank of Ireland branch closures would have on the North. Photograph:  Charles McQuillan/Getty Images

Arlene Foster warned closing branches would have ‘serious implications’ for economy

John O’Dwyer, chief executive of VHI: “The fact that people are now living longer with chronic diseases has major implications for the healthcare system”. Photograph: Aidan Crawley

Insurer closed the year with an improved reserves position of €521 million, up 12%

Denis Casey, Willie McAteer and John Bowe are due to be sentenced on Monday. Photograph: Composite/Brenda Fitzsimons/Collins Courts

Denis Casey, Willie McAteer and John Bowe were prominent in financial sector

The 4.8-acre site is due to accommodate offices, retail and leisure, and a 23-storey residential tower that overlooks the point where the Liffey meets Grand Canal Dock

Los Angeles-based investment firm Kennedy Wilson paid €106m in 2012 to secure interest in site

SBCI chief executive Nick Ashmore (above): “These figures demonstrate the breadth of the SBCI’s impact and the appetite among Irish SMEs for lower-cost funding that is more flexible and SME orientated.  Photograph: Alan Betson / The Irish Times

Strategic Banking Corporation of Ireland has given loans to 8,619 SMEs since March 2015

In spite of making a loss, the Dublin-based entity that underwrites non-life risk for Zurich Insurance paid a dividend of €320 million to its Swiss parent company. Photograph: Adrian Moser/Bloomberg

Dublin-based entity that underwrites non-life risk for firm slips into the red last year

Bank Of Ireland College Green Dublin . Photograph: Bryan O’Brien/The Irish Times

Up to 54 redundancies may come as a result of the decision

The liquidator has advised that the cost of settling the claims could be between €87.7 million and €95.2 million. Photograph: Getty Images

Liquidation process to yield 30% of 1,700 potential claims

The report follows the 2014 collapse of Setanta Insurance, which has led to a dispute over who should pick up the tab for the 1,700 open claims that could cost up to €95.2 million to settle

ICF should cover third-party claims, says report ordered after Setanta Insurance row

 Luke Fitzgerald, Harry Redknapp, Kieran McGeeney and Robbie Fowler at the recent launch of Eir Sport, following the takeover of Setanta by Eir. Photograph: Inpho/Morgan Treacy

Pay TV group says price sought is too high for former package of Setanta and BT Sport channels

In June, The Irish Times revealed that Teneo had signed up former Irish rugby captain Brian O’Driscoll as a senior adviser with its global sports division.

Money not disclosed as activities in Ireland undergoes major expansion

Grand Canal Square: Citadel Securities is to rent 18,500sq ft of penthouse office space at 1 Grand Canal Square from Iput plc. Photograph: Tony Healy

Iput set to make €1.1m a year from 1 Grand Canal Square penthouse office space letting

 Managing director of Agile Networks Darragh Richardson  and John Boland, chief executive of HEAnet: Agile Networks has secured a seven-year contract with HEAnet which will see them provide a 100 gigabyte internet network to HEAnet. Photograph:  Mark Stedman/Photocall Ireland

Firm’s high bandwidth internet network to be used by one million students and staff

Irish pension funds are reducing their exposure to high-risk equities. The survey showed that Irish defined benefit pension schemes now have an average bond allocation just below 50 per cent. Photograph: Rolex Dela Pena/EPA

Mercer data shows equities make up 36% of asset allocations by Irish pension schemes

Minister of State for Gaeltacht Affairs Seán Kyne welcomed the Proxy Biomedical investment in An Spidéal, Co Galway. Photograph: Alan Betson

Seán Kyne welcomes firm’s plan to double workforce at An Spidéal facility over two years

Prof Philip Lane, governor of the Central Bank of Ireland, who has announced new rules designed to help mortgage customers choose their loan. Photograph: Jason Clarke

Banks will be required to notify customers of cheaper loan offers

RSA had been due to go before the High Court on July 5th to secure permission to transfer the activities of RSA Insurance Ireland Ltd to Royal & Sun Alliance in the UK.  Photograph: Simon Dawson/Bloomberg

Insurance firm had been due to turn Irish operation into branch of UK-based parent

The transaction was concluded in recent weeks and involved the issuing of 224 million ordinary shares of €1.25 in KBC Bank Ireland to KBC Group. Photograph:   Bryan O’Brien

KBC Bank Ireland chief says move is ‘statement of confidence by our shareholder’

“Trading has been very strong this year for the first half,” John O‘Farrell,  Citywest Hotel’s  general manager said. “We’ve seen a lot of growth in the international market in terms of meetings and events.”

Growth in events and conferencing business boosts profits

Economist Paul Krugman: In a tweet to his 1.5 million followers, the Nobel laureate  described the CSO  data release as “leprechaun economics”, adding that “it doesn’t make sense”.  Photograph:  Franck Robichon/Pool

Data claiming growth was four times China’s rate described as ‘leprechaun economics’

The changes are unlikely to affect Minister for Finance Michael Noonan’s proposed budgetary adjustment of €1 billion

Central Bank governor says State’s record 26% growth rate does not reflect economic activity

Minister for Finance Michael Noonan said €179.56 million, net of rebates, had been spent on work carried out by KPMG as special liquidators, and law firms A&LGoodbody and Linklaters. Photograph:  Brian Lawless/PA Wire

Minister says it is not possible to quantify final costs at this time due to remaining work

Minister of State Eoghan Murphy, pictured with Fine Gael’s Marcella Corcoran Kennedy and David Stanton. File photograph: Alan Betson

Minister of State outlines plans for special committee

Dundrum shopping centre: Brown Thomas wants to double the size of its BT2 store, which has a current retail space of 836sq m (9,000sq ft).

Talks follow purchase of shopping centre by Hammerson and Allianz Real Estate

AIB on Grafton Street: from September, the branch will open on weekdays at 8am and close at 7pm, with the exception of Fridays, when it will remain open until 9pm.  It will also now open from 10am-6pm on Saturdays and Sundays. Photograph: Aidan Crawley

Deal reached with staff and unions to open seven days a week from September

Dundrum Town Centre: Hammerson said 16 rent reviews had been completed, resulting in an average 11 per cent increase. Photograph: Matt Kavanagh

UK property group also set to take ownership of 50% stakes in Ilac and Pavilions centres

 Deutsche Bank research: The lower back book figure for Irish home loans is probably driven by the large volume of tracker mortgages. Photograph: Kai Pfaffenbach/Reuters

Spread of 81 basis points in Ireland is bettered only in Portugal at 114 basis points

 The Westbury Hotel in Dublin: The Doyle Collection operates three hotels in Ireland (the five-star Westbury and Croke Park in Dublin, and the River Lee in Cork), four in Britain (three in London and one in Bristol) and the Dupont Circle in Washington DC.  Photograph: Dara Mac Dónaill

Strengthening of sterling and dollar against euro boosts company’s revenue and profits

US vice-president speaks at the Ireland Funds 40th celebrations  in Trininty College. Photograph: Aidan Crawley

In wake of global financial crash the funds raised impressive €226 million in six years

Ryanair closed down almost 2.5 per cent at €11.55. Photograph: Eric Luke

Thin volumes on Iseq with CRH, Paddy Power Betfair and Ryanair down

Lyons Estate, near Celbridge in Co Kildare

Weddings and events already booked will go ahead as planned at Co Kildare venue

Minister for Finance Michael Noonan: says market “volatility” means disposal of bank shares is unlikely before next year. Photograph: Gareth Chaney Collins

No plans by the Government to sell off its holdings in AIB, PTSB and Bank of Ireland

Conor Whelan, Eason’s managing director: “Seventy per cent of our book purchases are sterling based . . . Volatility on the currency makes it difficult on pricing decisions and you can’t keep changing your pricing every day”. Photograph:  Shane O’Neill

Revaluation of property portfolio results in increase in value of €9m

Peter Collins of Kennedy Wilson photographed at their new development Clancy Quay in Islandbridge, Dublin. Photograph: Brenda Fitzsimons / THE IRISH TIMES

LA-based property firm’s message is loud and clear: it is in Ireland for long haul

Stillorgan Shopping Centre, the oldest retail mall in the country. Kennedy Wilson acquired the centre in 2013 as part of a €306 million portfolio acquisition.

Kennedy Wilson also plans €4m refurbishment of Shelbourne Hotel bedrooms

“Without an EU passport or a local Irish head office authorisation, [funds] selling to/servicing retail clients in Ireland may face a big problem so it is worth careful consideration with your advisers,” says a report from Irish law firm Dillon Eustace.

Irish law firm says it would be ‘strange’ if UK could access European Economic Area

The uncertainty created by Brexit has  added to the problems   Irish banks already faced: increasing regulations, rising capital requirements, and a low interest rate environment

About €2.7bn is wiped off market value of Bank of Ireland and €301m from Permanent TSB

The Bank of England in London: Goodbody Stockbrokers in Ireland seeks  to provide  clients with comprehensive coverage of UK financial stocks. Photograph: Marco Kesseler/The New York Times

Newcomer to lead stockbroker’s coverage of UK banks as it seeks to broaden scope

AIG Fenway Hurling Classic, Dublin v Galway, in Fenway Park, Boston, last November: “Anything related to Ireland, given the amount of Irish that live here, would make sense for us,” says   FSG president Sam Kennedy. Photograph: Ray McManus

Fenway keen to build connections with Ireland

Profits to be hit by low mortgage growth and higher bank levies, say analysts. Photograph: The Irish Times

United Kingdom-based Keefe, Bruyette & Woods downgrades stock to ‘underperform’

Pat Whelan, former director of Anglo Irish Bank. Trial due to start in January, 2017.

Former chairman Sean FitzPatrick, former chief executive David Drumm and former executive Pat Whelan are all due before the courts(...)

(From left) Peter Fitzpatrick, Denis Casey, John Bowe, and  Willie McAteer

Denis Casey, Peter Fitzpatrick, Willie McAteer and John Bowe were prominent in financial sector

Brian O’Driscoll: “I operate best on a one-to-one level rather than preaching to the masses. That’s where I feel I might excel.” Photograph: The |rish Times

Ex-Ireland and Lions captain signs up with sports division of New York-based company

MEP Matt Carthy: he said the loopholes in the Irish tax system “have been designed to perfectly implement the loopholes in US tax law to benefit massive US corporations”. Photograph: Dara Mac Dónaill

MEP Matt Carthy says ‘Ireland has reputation as enabler of massive tax avoidance’

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