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Minister for Finance Paschal Donohoe: “The failure of Setanta and the uncertainty that followed over the compensation arrangements for claimants highlighted weaknesses with the current insurance compensation framework.” Photograph: Gareth Chaney Collins Insurance premium hike looms for motorists
  • Financial Services
  • July 5, 2017, 20:57

Reform of insurance compensation fund may force firms to pay 2% levy

 AIB flotation: the bank  has issued warrants to the State allowing it to buy back up to a 9.99 per cent stake. Photograph: Dara Mac Dónaill  AIB issues warrants to State to avoid stocks embarrassment
  • Financial Services
  • Joe Brennan
  • July 5, 2017, 19:58

Bank gives Government the option to buy back stake if its share price surges

The deal between Vantiv and Worldpay   will see the newly-combined group run by two chief executives and co-headquartered between London and Cincinnati. Worldpay agrees merger deal with US rival Vantiv
  • Financial Services
  • July 5, 2017, 13:33

Move values British payments processing firm at €10.4 billion

Australian financial services firm Pepper entered the Irish market 5 years ago when it bought GE Capital’s Irish mortgage book. (Photograph: iStock) Financial services group Pepper receives takeover bid
  • Financial Services
  • Joe Brennan
  • July 5, 2017, 09:42

Private equity giant KKR has offered €436m for the Australian firm

Insurance Ireland’s building in the IFSC, which the European Commission raided on Tuesday. Photograph: Collins European Commission right to look under bonnet of motor insurers
  • Financial Services
  • Ciarán Hancock
  • July 5, 2017, 06:00

EU concerned that Irish motor insurers are involved in anti-competitive practices

The €378,000 lump sum and €326,000 a year that former taoiseach Enda Kenny is receiving is worth  €5.17 million in private-sector terms, new figures show. Photograph: Dara Mac Dónaill Public-sector pensions worth millions, new figures show
  • Financial Services
  • Barry O'Halloran
  • July 5, 2017, 05:38

Enda Kenny’s pension pot would cost a private sector worker €5.2 million

The offices of Insurance Ireland were visited by compliance officers on Tuesday as part of a European Union investigation. Photograph: Collins Motor insurance providers raided amid anti-cartel inquiry
  • Financial Services
  • Mark Hilliard
  • July 5, 2017, 05:30

Insurance Ireland also subjected to inspection as database access queried

PricewaterhouseCoopers (PwC), one of the big four accountancy and auditing firms. Photograph: Philip Toscano/PA Wire Big Four firms require closer regulation, report finds
  • Financial Services
  • Patrick Smyth
  • July 5, 2017, 05:00

Survey on global tax avoidance calls for new measures

Patrick Guilbaud. Photograph: Eric Luke Patrick Guilbaud enjoys mouth-watering profit jump
  • Financial Services
  • Gordon Deegan
  • July 4, 2017, 20:29

Michelin-starred restaurant benefiting from ‘huge amount’ of American tourists

Monte dei Paschi di Siena bank has been embroiled in a prolonged state rescue after failing to raise €5 billion on the market to shore up its capital. Photograph: Filippo Monteforte/AFP/ Getty EU clears €5.4bn Monte dei Paschi state bailout
  • Financial Services
  • July 4, 2017, 17:19

Commission says five-year restructuring will ensure Italian bank’s long-term viability

Arlene Foster and Martin McGuinness join Tullett Prebon group CIO Luke Barnett at Invest NI headquarters in Belfast More than 100 firms in North benefit from £40m fund
  • Financial Services
  • Francess McDonnell
  • July 4, 2017, 10:45

Invest NI was established to ensure companies were not deterred from expanding

It is understood AIB Group (UK) originally agreed a £20 million (€22.8 million) facility with Fairpoint in 2014, before increasing it to £25 million a year later. At the end of December, the AIB facility stood at £23.4 million.    Photograph: Bryan O’Brien AIB moves on distressed UK debt management group
  • Financial Services
  • Joe Brennan
  • July 4, 2017, 06:00

Fairpoint Group says AIB’s UK arm has assigned debt it owes to Doorway Capital

Liberty Insurance offices in Cavan. Photograph: Alan Betson Liberty Insurance calls for wider fraud database to tackle ‘ghost brokers’
  • Financial Services
  • Joe Brennan
  • July 4, 2017, 05:35

US insurance company warns that it has seen a ‘dramatic increase’ in ‘fake brokers’

BlackRock headquarters in New York: The group is considering Dublin as an EU base. Photograph: Daniel Acker/Bloomberg/Getty Images Dublin shortlisted by world’s largest asset manager for post-Brexit EU base
  • Financial Services
  • Joe Brennan
  • July 4, 2017, 05:15

Ireland is among four countries competing to become BlackRock’s EU base

Philip Smith, former chief executive of RSA insurance, attending an Employment Appeals Tribunal in 2015. Photograph: Dave Meehan Former RSA chief executive makes Philip Smith cricket comeback
  • Financial Services
  • July 4, 2017, 05:05

Smith is now general manager of Leinster Cricket after settling a dispute with RSA

John Varley, former chief executive officer of Barclays, centre, arrives at Westminster Magistrates’ Court in London on Monday. Photograph: Chris Ratcliffe/Bloomberg Former Barclays executives appear in London court
  • Financial Services
  • Jane Croft
  • July 4, 2017, 00:30

Former CEO granted unconditional bail in capital raising case dating to financial crisis

A man stands outside the Bank of England in the City of London. (Photograph: Reuters) Bank of England facilities staff to go on four day strike
  • Financial Services
  • July 3, 2017, 10:57

The strike is the first of its kind at the Central Bank in some 50 years

Oisin Fanning, chief executive of San Leon Energy. (Photograph: Ger Foy/ Collins Court) Shares suspended in Oisin Fanning’s San Leon amid accounts delay
  • Financial Services
  • Joe Brennan
  • July 3, 2017, 09:54

San Leon received indicative €395.5 million bid from Chinese suitor last week

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A woman walks past Mercedes cars at a dealership in Berlin on July 13th. German media say  Daimler AG possibly installed emissions cheating software into a million Mercedes vehicles. Photograph: Getty Inevitable death of diesel engine bodes ill for German car makers
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By letting Eir remove 300,000 homes from its original intervention plan, the Government has delayed the broadband rollout process. Government and Eir play high-stakes chess game over broadband

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