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Ciaran Hancock

Ciaran Hancock

Business Affairs Correspondent

Ciaran Hancock is Business Affairs Correspondent with The Irish Times.

One Nine Elms is a proposed mixed-used development comprising 1.13 million sq ft of prime residential, commercial and retail space in central London.
Green Property sells London development to China for £90m

AIB retained interest in One Nine Elms development following sale to Green in 2008

Airlines are notoriously secretive about the sums they pay for their aircraft. The list prices they cite are meaningless. Ryanair is believed to have negotiated a discount of up to 50 per cent from Boeing on its order while analysts put EasyJet’s at 30 to 40 per cent.
Airlines gain altitude in the face of economic woes

‘Airlines have a history of shooting themselves in the foot when the industry is doing well’

The trustees of the joint pension scheme operated by Aer Lingus and the Dublin Airport Authority are believed to have told the companies that the €200 million they are offering to help plug the deficit in the scheme is not enough.
Trustees of Aer Lingus-DAA pension scheme seek more funding for deferred members

Officials indicate that they could make an application to the High Court

The €25 million payment to EBS matched those made in 2012 and 2011. Photograph: Brenda Fitzsimons
State pays EBS €25 million as part of 10-year promissory note agreement

Payment of promissory note subject to legal challenge from TD Joan Collins

Minister for Finance Michael Noonan stated that our banks wouldn’t need any new capital as a result of the stress tests as they have sufficient buffers in place.
Cantillon: Noonan and Elderfield on the same page in an inglorious chapter

Michael Somers: “There’s no point, when you’re starving, saving for an event that’s going to occur decades into the future.” Photograph: Eric Luke
Former NTMA chief welcomes transfer of State pension pot to new fund

‘It was money for the rainy day, but we’re now in the middle of a storm,’ says Somers

The head of the Credit Review Office, John Trethowan, has called for the upper threshold at which SMEs can appeal a bank’s decision to refuse them finance to be increased from the current level of €500,000. Photograph : Matt Kavanagh
Government asked to raise upper limit on SME credit appeals to €3 million

Head of Credit Review Office recommends threshold increase

Michael Noonan said Ireland would not be fully out of the bailout programme until the stress tests had been completed next year.
Michael Noonan signals stress tests for Irish banks next year

Minister says he does not expect that these tests will result in the banks requiring extra capital

The Government has agreed a new, later start date for water charges
Water charges due by end 2014

Latest Troika memorandum gives new dates for water charges and bank stress tests

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Retail & Services

Dublin-based Cartrawler provides software and systems to airlines, travel companies and others in the tourism trade to allow them to offer car-hire services on their websites. Cartrawler buys rival’s on-line business
Setting out its targets a year before the World Cup kicks off in Brazil, Adidas said sales from its soccer division would break the €2 billion barrier for the first time in 2014. Photograph: Reuters/Michael Dalder Adidas sets new soccer sales goal in World Cup year
Telefonica says it has not received any verbal or written approach from AT&T. Photograph: Reuters Telefónica shares rise on talk of interest from AT&T