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AIB's head of corporate banking to quit

AIB's head of corporate banking, Tom Barry, is planning to leave the bank, The Irish Times learned yesterday. Mr Barry is a long-serving executive at the Republic's biggest bank, he announced his planned departure internally last week.

A bank spokesman confirmed yesterday that Mr Barry is leaving his post as head of corporate banking with AIB. He said that the executive, who is in his early 50s, was planning to take early retirement.

Mr Barry is the second senior executive to reveal plans to leave the bank in the space of a week.

On Friday, AIB Investment Managers (AIBIM) announced that chief executive, Eileen Fitzpatrick is leaving the bank to take up post at the National Treasury Management Agency (NTMA), the body responsible for managing the national debt and State pension fund.

Mr Frank O'Riordain is due to succeed Ms Fitzpatrick at AIBIM.

Fed likely to leave rates unchanged

The Federal Reserve is almost certain to leave interest rates unchanged at 5.25 per cent at its policy meeting tomorrow, leading Fed watchers believe.

The Fed is in information- gathering mode following its decision to end an unbroken sequence of 17 consecutive rate rises in August. At that time, Fed minutes show, policymakers believed a pause would "allow the committee to accumulate more information before judging whether additional firming would be necessary".

It is doubtful that the intervening six weeks of data - much of it from the holiday month of August - will have resolved this issue in the Fed's mind.- (Financial Times service)

Talks at Shannon Aerospace resume

Talks aimed at averting strike action at Shannon Aerospace will take place today following a clarification by the Labour Court of the recommendation it made in relation to the dispute in July. Siptu and management at the aircraft maintenance company, which employs 800 staff, have agreed to meet following several rounds of talks last week.

Aminex signs deal to drill in Egypt

Oil and gas group Aminex has signed a production sharing agreement in Egypt.

The deal, which had previously received presidential and parliamentary approval, was signed at a formal ceremony by the Egyptian minister of petroleum on Sunday and covers the West Esh El Mellahah area.

Burren reshuffle confuses analysts

Finian O'Sullivan, founder and chief executive of Burren Energy, has stepped down from the top role at the UK-based exploration group and instead will focus on acquiring new assets for the group in the position of president. Atul Gupta, chief operating officer, will take on the role of chief executive in a management reshuffle described by Bridgewell Securities as confusing and concerning.