The Belmond Grand Hibernian, Ireland’s new luxury train.  This year the deficit at Iarnród Éireann will be about €11 million, according to a rail review. Photograph: Cyril Byrne

Second phase of western corridor would be utter folly

Docklands site to be developed for retail use and student accommodation

Iarnród Éireann accumulated losses of €150 million between 2007 and last year, in spite of achieving cost savings of €76 million over that period.

Review warns rail operator’s ‘balance sheet cannot sustain any financial shock’

US stocks trimmed losses as deal activity boosted consumer stocks and Microsoft rose towards a record, offsetting losses spurred by concerns a stronger dollar will dampen corporate earnings. Photograph:  Michael Nagle/Bloomberg

Stoxx Europe 600 Index takes five-day advance to 1.3% while Iseq falls 0.3%

Fitzwilton House: Iput plans to demolish the  1960s building and construct a new 17,405sq m office development, ranging from four to eight storeys

An Bord Pleanála clears Irish property fund Iput for €45m redevelopment by canal

Last year, AIB paid the highest levy at €60 million, followed by Bank of Ireland at €38 million, Permanent TSB at €27 million, Ulster Bank at €18 million and KBC Bank Ireland at about €7 million

Extension intended to generate income of €750m for exchequer

Mobads founder Kieran O’Keeffe, right: based in London, the company launched in October 2006 and has MobileWebAdz, Reporo, and BuzzCity as its brands

Founder Kieran O’Keeffe nominated for an EY Entrepreneur of the Year award

Mike McKerr: “It really would be a backward step in reinstating a hard border with the South”

Third year in a row in which accounting and consulting firm records revenue growth of 16% or more

Sonia Flynn, international VP at SoundCloud, is  one of Plynk’s strategic advisors. Photograph: Dara Mac Dónaill

Bank of Ireland, Delta, Enterprise Ireland and NDRC funding Irish payments start-up

In July PTSB announced a return to profitability for the first time since 2007 with an after-tax surplus of €80m for the six months to the end of June

Unite’s near 1,000 members in PTSB have rejected proposal on pay and performance

A branded taxi outside Unilever’s Marmite factory in Burton upon Trent in Britain. Photograph: Reuters

Unilever describes comments by SuperValu, operated by Musgrave, as ‘entirely inaccurate’

The accounts show that KCII Ltd acquired a majority stake in Brindisi which owns 92 per cent of Post Publications, which publishes the Sunday Business Post newspaper.

NI biomass venture Tyrone Energy contributes €2.6 million to KCII’s profit

Accounts just filed for Goldman Sachs Ireland Finance show that it made a profit of $1.7 million in 2015, up from $700,000 in the previous year. Photograph: Brendan McDermid/Reuters

Firm made $1.7m in 2015, as global heavyweight continues to wind up operations here

Under the  scheme customers who link their Bank of Ireland credit cards to SuperValu’s loyalty card will earn 250 bonus points, which can be swapped for money-off vouchers

Retailer’s scheme is in partnership with Bank of Ireland and Electric Ireland

SuperValu said: “We do not believe a price increase on the products under discussion is justified given the current exchange rate.” Photograph: Cyril Byrne

Retailer and supplier of lines such as Lynx and Pot Noodle in dispute over rising costs

Charles Haughey: in 1969, the then minister for finance introduced the artists’ exemption. Photograph: Alan Betson

Report considers income averaging, though other forms of funding might better suit

Developer Michael O’Flynn: “I couldn’t believe they left the 9 per cent rate for tourism in place when you can’t get a hotel bed in Dublin. Good luck to that industry but we need the same treatment,” he said. Photograph: Brenda Fitzsimons

Call to cut rate from 13.5% to 9% in sector that is ‘on its knees’ unheeded by Government

The Central Bank’s budget for regulating the financial sector is to rise  by 8 per cent to €148.3 million this year. Photograph: Matt Kavanagh

Insurance industry raises concerns about Central Bank plan to recoup regulation costs

A mock customs hut put up by Brexit protesters at the border town of Carrickcarnon:  Ireland is heavily exposed to Brexit with about 16 per cent of our exports going to the UK, and 40 per cent of indigenous company exports going there.  Photograph: Clodagh Kilcoyne/Reuters

Tax relief for small businesses and exporters, a farmer loan fund and retention of 9% Vat

The chief executive of Irish housebuilder Cairn Homes has welcomed the Government’s Help-to-Buy scheme for first time buyers, saying it represented the the best way to stimulate construction in the short term. Photograph: Alan Betson/The Irish Times.

Michael Stanley says income tax rebate should help first timers get deposit together

The special assignee relief was extended in Budget 2017 until the end of 2020. This was one of  a series of measures to assist sectors of the economy in danger of being adversely effected by Brexit.

Income tax relief scheme for in-State foreign workers costs exchequer €5.9m in 2014

The 1 per cent rate of USC falls to 0.5 per cent on the first €12,012 of eligible income. The next band has come down to 2.5 per cent from 3 per cent for income between €12,013 and €18,772. There will be a reduction to 5 per cent from 5.5 per cent for income between €18,773 and €70,044. Photographer: Chris Ratcliffe/Bloomberg

Noonan says he will phase out USC over time ‘as resources permit’

MEP Brian Hayes: “Unfortunately, we don’t have a well-developed market for fixed-rate mortgages in Ireland.”

Regulators want banks to be better protected from interest-rate risk, says Brian Hayes

Irish Life Assurance said it saw “strong growth in single premium life and pension sales, particularly through the independent broker and branch networks”

Life and pensions group made an after-tax profit of €122m in 2015, up from €47m in the previous year

Drury’s managing director Anne-Marie Curran: “It was a very good year for us in what remains a challenging market.”

Irish firm added Tesco to portfolio and advised IAG during Aer Lingus takeover

 Michael Geoghegan, former head of HSBC Bank, speaking at the launch of Dublin Landings, a €700 million gross value commercial and residential development being built by Irish property company Ballymore and Oxley Holdings of Singapore. Photograph: Alan Betson

Michael Geoghegan says EU’s desire to harmonise taxation is his only concern for State

Ballymore intends to include about 65,000sq m of grade-A office space in five buildings, 273 apartments, some retail, a “boutique” hotel and a gym in the Dublin Landings development. Photograph: Alan Betson

Group launches €700 million Dublin Landings as it prepares to exit Nama

AIB  employs about 10,550 staff in total, down from  nearly   26,000 in 2008.  Photograph: Eric Luke

Plan prompts union concerns on future of AIB structure and impact on staffing levels

Outdoing Gaelic Players Association chief executive Dessie Farrell: “The organisation is in a really good place and 14 years is a long time to be in the position.” Photograph: Eric Luke

He has yet to decide on a plan for life after the Gaelic Players Association

An artist’s impression of the new Ballymore development.

Dublin Landings project on North Wall Quay to include office, retail and residential space

The biggest decrease in insurance awrds was recorded for minor jaw soft-tissue injuries, which fell 68 per cent to €11,000.

Personal Injuries Assessment Board data shows awards for back injuries fell

In July PTSB announced a return to profitability for the first time since 2007 with an after-tax surplus of €80m for the six months to the end of June

Salary increase will be pensionable and backdated to January 1st of this year for those at levels four and five

“Non-resident directors can reclaim vouched travel expenses at cost, whereas resident directors must pay tax on these. This makes no sense and is unfair”

Institute of Directors wants Irish NEDs to have same tax break as non-execs travelling from abroad

Shares in Bank of Ireland dropped as much as 2.6 per cent in Dublin in early trading. Photograph: Frantzesco Kangaris/Bloomberg

Swiss group Temenos will provide software for new banking IT infrastructure

StepChange launched in Ireland in September last year after securing €6 million in funding from five retail banks here. It currently has 1,500 active clients around the country.

StepChange appoints Irish Mortgage Holders Organisation as insolvency practitioner

 Allied Irish Bank is 99.9 per cent owned by the Irish State.  Photograph: Bryan O’Brien

Law Society figures show bank has 114 solicitors on its payroll

Michael Noonan told the governor of the Central Bank that if other countries’ banks were stressed with the “same inputs as our banks”, their results would have been “very different”. Photograph: Simon Dawson/Bloomberg

Minister told Central Bank governor that ECB tests were overly negative for Ireland

Amtrust decided to quit MIBI over concerns about having to contribute to the costs associated with the liquidation of Malta-registered Setanta

AmTrust was required to join MIBI, which must cover cost of collapsed insurer Setanta

Finance Ireland, a non-bank lender led by Billy Kane, has sold its Everyday Finance unit to London-based Link Financial Group

Galway-based asset management unit within Finance Ireland has about €500m in assets

Ulster Bank’s redundancy terms provide for four weeks’ pay per year of service subject to a cap of 104 weeks and £300,000, or its euro equivalent

Deal includes attractive redundancy terms and third-party mediation in disputes

Latest figures from the Central Statistics Office show that motor car premiums rose by 28 per cent year-on-year in August.

If your policy is due to be renewed, you may well be whacked with a big rise in the premium

Ulster Bank had an 18 per cent share of new mortgages in the Republic in the first quarter of this year. Photograph: Dara Mac Dónaill

Bank’s UK parent looking to reduce its costs and improve capital efficiency

Some 13 insurance providers who had their head office in Ireland last year and were supervised for solvency here racked up combined losses of €253.7 million.

FBD made €101.7m loss, Axa and Allianz post deficits of more than €40m

Zanzibar on Ormond Quay: Dalata, Ireland’s biggest hotel chain, is not thought to have expressed an interest in the site

Selling agency CBRE says shortage of hotels in Dublin reason for strong interest

Linked Finance is looking at US and international funds who have capital to provide liquidity or loans via peer-to-peer platforms

London-based finance group Liberum to advise on the fundraising effort

Joule Group: makes and installs renewable heating and hot water systems in new houses and homes being renovated. Photograph: Neil Hall/Reuters

Deal expected to cement company’s position as a market leader in plumbing and heating

Senior first officer with Kuwait Airways Abdullah Alali, Andrew Murphy of Shannon Group and Declan Power of Shannon Airport welcome “good news” for the airport. Photograph: Diarmuid Greene/Fusionshooters

British Airways cancels business service while Ryanair will not renew axed flights

Most Irish banks are concerned FinTech start-ups will go directly to the end user, bypassing banks altogether. Photograph: Adam Peck/PA Wire

Competition between banks and start-ups giving way to collaboration, survey finds

Permanent TSB: the assets consisted of commercial real-estate loans involving a number of borrowers. Photograph: Alan Betson / The Irish Times

Programme was part of restructuring plan between Government and European Commission

Merrion said: “We are redesigning the business around providing our clients with active wealth management and advisory stockbroking services.” Library photograph posed by models: iStock

Firm repositions business around personalised, active wealth-management service

AIB chairman Richard Pym: non-performing loans on AIB’s balance sheet are now “contained and well-provided for”. Photograph: Eric Luke/The Irish Times

Richard Pym says legacy problems largely solved and State is free to sell its equity stake

EBS mortgage cashback offer: gives customers 2 per cent of their mortgage back in cash, “a substantial sum that would typically cover home purchase costs such as stamp duty, legal fees and valuation”.

Customers receive €2,000 cash for every €100,000 in new mortgage borrowings

Rabobank Ireland: it has been renamed as Rabo Ireland and its accounts show its operating income in 2015 reduced to €60.2 million from €72.7 million a year earlier. Photograph: iStock

Dutch financial group handed back Irish banking licence to Central Bank this year

Lucinda Creighton, who lost her seat in Dublin Bay South in February, is also a former minister for European affairs. Photograph: Cyril Byrne / The Irish Times

Former TD to advise clients on issues related to UK’s exit from European Union

New An Post chief executive David McRedmond began his career in retail in the UK.

Dubliner charged with meeting ‘seismic’ market changes to An Post’s business model

Called The Exchange, the 105,000sq ft building will involve a €60 million investment.

The Exchange is first new office building within original IFSC footprint since 2003

Gay Mitchell and  Gillian Kavanagh with Breda Brown and Al Dunne.

PR agency hires former Fine Gael MEP and former FG media head Gillian Kavanagh

The six employee severance payments  “represented the most cost-efficient solution in the particular circumstances of each case,” Gerry Quinn, the Central Bank’s chief operations officer, told the Public Accounts Committee. Photograph:  Matt Kavanagh

Six payments made between 2011 and 2013 to avoid ‘more costly’ outcomes, PAC is told

AIB chief executive Bernard Byrne: the bank is back on a profitable trajectory. Photograph: Cyril Byrne/The Irish Times

An election in the next 12 months would torpedo any prospect of an IPO of shares

Jack Teeling (left), who founded the company, pictured with his brother Stephen,  said visitor numbers were “significantly ahead” of its projections. Photograph: Patrick Bolger

New whiskey facility reports 8,000 visitors in August, the highest since it opened last year

American connection: KBI Global Investors has offices in San Francisco, New York and Boston. Photograph: Eric Risberg/AP Photo

Amundi snaps up Dublin asset manager, leading to name change and further growth

Krispy Kreme is a listed company with more than 1,100 outlets in 26 countries and total revenues of €464m

Factory store would comprise a production unit and a cafe selling the doughnuts

Shares in Deutsche Bank sank 8.5% after rebuffing a $14bn claim from the US justice department to settle a misselling investigation

Bank of Ireland and Permanent TSB mirror declines in bank stocks across Europe

Karl Brophy, founder of Red Flag Consulting: “We’re very pleased at Red Flag with an excellent performance across all our markets in 2015.” Photograph: Collins

Firm being sued by Denis O’Brien saw employment costs rise to €780,000 in 2015

Former Central Bank governor Patrick Honohan also suggested public servants continue to be paid a premium over their private sector counterparts, in spite of the introduction of a pension levy. Photograph: Dara Mac Donaill

Pre-budget letters reveal Patrick Honohan’s plans to extend State revenue base

Taoiseach Enda Kenny, speaking at the IBEC president’s dinner on Thursday night at the RDS in Dublin . “We need to make the right decisions to continue to rebuild the Irish economy, help people back to work, and invest in vital public services,” he said. Photograph: Conor McCabe

Taoiseach says deficit set to be under 1% in 2016 with plan to eliminate it by 2018

Irish businessman Emmet O’Neill: perhaps best known for founding Smiles Dental in 2005, which he sold for €36 million in 2014.

Irish businessman invests €500,000 in online publisher as it launches new site

“Now might be the time for the Government to thank Nama for its work, send it on its way and move on.” Photograph: Cyril Byrne

Drip, drip nature of allegations surrounding Nama deal means investigation is inevitable

Teneo Holdings, which provides consulting services to some of the world’s biggest companies,  was set up in 2011 by Declan Kelly (above), Paul Keary and Douglas Band, once a top adviser to former US president Bill Clinton. File photograph: Teneo Holdings

Declan Kelly’s NY-based business said to be eyeing stock market IPO valued at up to $1bn

The Central Bank found that alignment between firms’ IT strategy and the overall business strategy was weak. “IT capabilities are not matched to the business ambitions,” it said.

Regulator says ‘sufficiently robust’ IT systems are not being implemented

AIB has arguably lagged behind other banks  – notably Ulster Bank, Lloyds/Bank of Scotland and Danske – in resolving its non-performing loans.  Photograph: Bryan O’Brien

Bank considering sale of buy-to-let mortgages ahead of planned share IPO in 2017

Francis Brennan’s range of branded bed linen and homewares products is being tagged as “affordable luxury for the savvy shopper” by Dunnes Stores. Photograph: Brenda Fitzsimons

Dunnes Stores to launch branded bed linen and homewares range

The ECB said rising interest rates and Brexit-related economic headwinds could pose a “significant risk” to the sustainability of continued non-performing loan reduction.

New ECB figures show scale of non-performing loans here still high at end of 2015

AIB chief executive Bernard Byrne said the babk was  “investing heavily” in data analytics.

Dublin City University to launch BSc in data science next year

Five leading Irish property developers have told the European Commission that Nama has been willing to write off millions of euro in loans for certain debtors.

Five businessmen allege favouritism towards certain debtors

Managing Director of Irish Life Health Jim Dowdall: “Irish Life is not entering the health market to stay still.”   Photograph: Fran Veale

MD Jim Dowdall says health insurer offers innovative services like free online GP care

The Central Bank said results of its research into the mortgage area “will be used to consider whether any measures are required to be introduced in this area”. Photograph: The Irish Times

Scoping exercise could eventually benefit borrowers in securing better value loans

Sherry FitzGerald says there is a “deep supply side crisis” in the Irish property market. Photograph: Cyril Byrne

Sherry FitzGerald wants deposit level for first-time buyers set at 10% with no value limit

Ulster Bank’s parent company, Royal Bank of Scotland, last year committed itself to its Irish subsidiary following a strategic review of the business. Photograph: Alan Betson

Company will also examine how RBS-owned bank conducts its business in digital age

Image of the Reflector building in Dublin’s docklands which is expected to be completed in 2018. Photograph: Park Developments

Park Developments’ €100m Reflector building offers office and residential space

Issues to be addressed include the lack of a link between the National Car Test and the availability of insurance. Photograph: The Irish Times

Government group calls for details on motor claims

The Central Bank of Ireland’s new Macroprudential Measures Committee (MMC) had its first meeting

Central Bank lending review hearing pleas from all sides about raising borrowing limits

Applegreen opened two new service area sites and added three filling stations in the Republic in the first six months of the year.

Petrol forecourt group has ‘particularly strong’ Irish growth and post-Brexit UK rise

 Snapchat superstar James Kavanagh and model Thalia Heffernan launch Bank of Ireland’s 2016 FeelFree student reward programme with Snapchat. Photograph:  Conor McCabe

Student reward programme features model Thalia Heffernan and Snapchat star James Kavanagh

Bank of Ireland chief executive Richie Boucher said Lewis Love would bring “extensive experience” to his role as chief operating officer. Photograph: Frank Miller

Appointee previously served as head of asset and liability management at bank

Rules require first-time buyers to have a 10 per cent deposit for the first €220,000 of a home price and 20 per cent on the balance. All other  buyers need a  20 per cent lump sum before being approved for a home loan

Property Industry Ireland wants limit lifted from €220,000 and 4.5 times salary mortgages

The Banking & Payments Federation Ireland called for equity release to pay for home improvement to be exempt from the Central Bank’s  loan-to-value LTV regulations. Photograph: Frank Miller

Lobby group wants first-time buyers’ 10% deposit threshold increased to €300,000

The Central Bank said SRPs were not always a suitable alternative for consumers, given their complexity and potential for partial or total loss of investment. Photograph: Matt Kavanagh

Regulator identifies weak product governance around structured retail products

Minister for Finance Michael Noonan: ‘Our tax system is founded on the strict application of the law’. Photograph: Aidan Crawley/Bloomberg

‘How could such vast sums of money not be subject to tax somewhere in the world?’

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

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