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- McKillen 'owns property worth €45m'
Thu, May 24, 2012PROPERTY DEVELOPER Patrick McKillen owns €45 million worth of properties around the world that have not been used as security against his debts, according to a court document. - Voluntary package at Ulster Bank is oversubscribedThu, May 24, 2012ULSTER BANK has received 1,100 applications from staff for 950 voluntary redundancies sought but has yet to decide whether this will rule out a requirement for compulsory layoffs.
- Nama plans to invest €2bn in construction from cash reservesThu, May 24, 2012THE NATIONAL Asset Management Agency aims to spend €2 billion completing buildings and starting new projects from its own cash reserves, rather than new borrowings, and still meet its debt-repayment targets up to 2020.
- Banks abusing customer data, say brokersThu, May 24, 2012BANKS HAVE been accused of breaking consumer protection laws by monitoring account transactions and using information gleaned from them to put pressure on consumers to switch from independently sourced products to products sold by the banks, according to the State’s largest group of financial brokers.
- Legal firm and bank clash over valuationsThu, May 24, 2012KBC BANK and a legal firm have clashed over property valuations which are relevant to the sum of damages to be paid by the lawyers over “very serious failures” to ensure the bank had proper security for substantial loans made to property developer John Kelly and struck-off solicitor Thomas Byrne. More than €20 million in damages are being sought.
- Key role at Paddy Power for McCarthyThu, May 24, 2012FORMER ULSTER Bank chief executive Cormac McCarthy will take over as chief financial officer of listed bookmaker Paddy Power this year.
- Facebook sued by shareholdersThu, May 24, 2012Facebook and banks including Morgan Stanley are being sued by the social networking leader’s shareholders, who claim the defendants hid Facebook’s weakened growth forecasts ahead of its initial public offering (IPO).
- Nama planning to invest €2bnWed, May 23, 2012The National Asset Management Agency is to invest about €2 billion by 2016, creating up to 35,000 jobs, its chairman said today.
- Blair was against transfer to Nama of London hotel debtsWed, May 23, 2012FORMER BRITISH prime minister Tony Blair believed in 2010 that the debts of a luxury London hotel group at the centre of a long-running High Court case in London should not have been taken over by the National Asset Management Agency.
- IL&P had considered closing bank division
Wed, May 23, 2012THE BOARD of Irish Life & Permanent Group Holdings considered closing its banking subsidiary during talks on the restructuring of the group with the troika, chairman Alan Cook told shareholders at its annual meeting in Dublin yesterday. - Scheme to compensate spread-bet firm clientsWed, May 23, 2012ALMOST ALL 15,000 clients of collapsed financial spread-betting firm Worldspreads are covered by a compensation scheme operated by its UK regulator.
- Judge challenges McKillen stance on £660m debt saleWed, May 23, 2012BONUS PAYMENTS from Qatari investors interested in buying three luxury London hotels would have been “far more attractive” to financier Derek Quinlan than promises to forgive his debts by the billionaire Barclay brothers, a judge in London said yesterday.
- Customers vent as part of bank's 'humble' driveWed, May 23, 2012 ANALYSIS: IL&P’s Alan Cook takes it on the chin as a handful of disgruntled shareholders let fly over interest rates
- China will buy dairy 'til cows come home - but don't expect investmentWed, May 23, 2012China doesn’t figure as a foreign direct investor in Europe, never mind Ireland. Beijing accounts for just 1 per cent of FDI
- Irish people still saving for rainy dayTue, May 22, 2012Despite the doom and gloom of the recession Irish people are still managing to put money away for a rainy day, according to the latest KBC Bank Ireland savings barometer.
- Ex-CEO of Enron seeks retrialTue, May 22, 2012Jailed former Enron Corporation chief executive officer Jeffrey Skilling is seeking a new trial citing "newly discovered evidence," according to court documents.
- Central Bank to push lenders on escalating mortgage arrearsTue, May 22, 2012LENDERS ARE being pressed to identify borrowers who are unlikely to be able to repay mortgages and to push for agreed sales of properties and the repayment of any shortfall under plans being devised for the Central Bank.
- Bank says solicitor's claims on assets value 'ludicrous'Tue, May 22, 2012A DISPUTE between a solicitor and Bank of Ireland over the ownership and value of art, antiques, furniture and other contents of luxury homes in Dublin and London has come before the Commercial Court as part of the bank’s efforts to enforce a €75 million judgment.
- Honohan takes pay cuts as Central Bank posts €1.2bn profitTue, May 22, 2012CENTRAL BANK governor Patrick Honohan took a 15 per cent paycut last year, handing back €41,740 of his salary and leaving himself with €234,584, according to the bank’s annual report for 2011.
- Allied Irish Banks to open voluntary severanceTue, May 22, 2012ALLIED IRISH Banks will start accepting voluntary redundancy and early retirement from staff tomorrow after the bank accepted the recommendations of the Labour Relations Commission.
