Group Chief Executive Jeremy Masding: “We apologise unreservedly to all the impacted customers.” Photograph: Collins

Bank in line for €20m Central Bank penalty and €35m compensation

Permanent TSB Jeremy Masding (left) , group chief executive  and Alan Cook, chairman, at the press conference held by Permanent TSB on the mortgage redress programme. Photograph: Eric Luke/The Irish Times

When exceptional costs factored in, losses amount to €431m

VHI extended its reinsurance arrangement with Berkshire Hathaway by four years in 2014

Health insurer turns to Warren Buffett’s Berkshire Hathaway for funds to meet regulatory target for capital reserves

Ryanair closed down 2.5 per cent at €12.01 after cautioning that overcapacity could weigh on average fares. Photograph: Niall Carson/PA Wire

Iseq down 2.5% while FTSE 100 loses 1.1% as other indices fall

Fine Gael’s Eoghan Murphy. Photograph: Conor McCabe/Jason Clarke Photography

Banking inquiry committee is right to reject offer of video evidence

 PTSB is due to release its interim results next Wednesday.

Analyst forecasts PTSB to return to net profits in 2016 of €105 million

Joe O’Reilly arriving at the Banking Inquiry at Leinster House this week. Photograph: Eric Luke / The Irish Times

Property developer Joe O’Reilly takes title from Sean Dunne with offer of €170m for hotel site

Property developer Johnny Ronan: acquired four vacant office blocks and surrounding land in Ballsbridge, Dublin, for €67.5 million. Photograph: Bryan O’Brien

Site beside AIB head office sold for €67.5m on behalf of Nama and Ulster Bank

Former Anglo Irish Bank chief executive  David Drumm: offered to give the Oireachtas banking inquiry evidence by video from the United States. Photograph: Josh Reynolds

Former Anglo chief wants to give evidence via video link from the US

There are question marks over how the Houses of the Oireachtas Service has handled the allegations about the banking inquiry. Photograph: Alan Betson

A four-page statement by a whistleblower alleges improper behaviour by investigators

File photograph of  a Houses of the Oireachtas commission room. File photograph: Alan Betson/Irish Times

Whistleblower wants review completely removed from Houses of Oireachtas service

Former Anglo  chief David Drumm has informed the Oireachtas Banking Inquiry that he will not be attending the hearing next Wednesday as directed

Former Anglo chief said he would give evidence via video but offer may not be accepted

Property developer Seán Mulryan arriving at the banking inquiry. Photograph: Eric Luke/The Irish Times

Developer tells inquiry he had ‘grave concerns’ for outlook of market from 2007

The terms of reference for an examination of alleged wrongdoing at the Oireachtas banking inquiry have been criticised by  Fianna Fáil Senator Marc MacSharry.   Photograph: Bryan O’Brien/The Irish Times.

Whistleblower alleged conflicts of interest, leaks and favourable treatment of witnesses

Cork property developer Michael O’Flynn, who heads the O’Flynn construction group, said he had anticipated some request from Nama to adapt the business plan to meet its requirements but this never happened. Photograph:  Collins Courts

Developers had ‘no real option’ but to accept Nama’s plan or suffer the consequences

Sean Mulryan said Ballymore Properties had “grave concerns” about the health of the Irish property market in 2007 and believed the country was producing 30,000 housing units too many annually. Photograph: Eric Luke / The Irish Times

Developer said Ballymore was a ‘victim’ of the crash as most assets were outside Ireland

Fergus Murphy, former chief executive of Irish building society EBS

Losses generated before 2008 ‘dominant reason” for State ownership

Fianna Fáil Senator Marc MacSharry:  took a strong line on the whistleblower issue and called for an independent investigation. Photograph: Bryan O’Brien

Committee must deal with matter directly and retain public confidence

Permanent TSB was the star performer on the Dublin market yesterday, closing up 4.8 per cent at €5.31 with 2.5 million shares changing hands.

Permanent TSB closes up 4.8% while both Bank of Ireland and Ryanair fall slightly

Bertie Ahern arrives at Leinster House yesterday  for his appearance at the banking inquiry. Photograph: Cyril Byrne

Former taoiseach admits to banking inquiry he made errors but says he got a lot right

Former Taoiseach Bertie Ahern leaves Leinster House yesterday following his appearance at the Oireachtas  banking inquiry. Photograph: Nick Bradshaw

Tax relief for construction led to property bubble, claims former taoiseach

 Former Taoiseach Bertie Ahern leaving the banking inquiry. Photograph: Nick Bradshaw

Banking inquiry: Former leader claims Mahon tribunal was reason for resignation

Willie McAteer, former director of finance at Anglo Irish Bank. File  Photograph: Eric Luke/The Irish Times

Intervention from DPP due to ongoing criminal proceedings

Pádraig Ó’Ríordáin and Eugene McCague at the Oireachtas banking inquiry on Thursday

Banking inquiry: AIB, B of I wanted institutions ‘nationalised’ say advisers

Former attorney general Paul Gallagher speaking before the Oireachtas banking inquiry on Thursday.

Live: Former AG Paul Gallagher says he was independent during tenure

Tom Browne  is currently managing director of LeBruin Private, a corporate advisory group in Dublin. Photograph: Bryan O’Brien

Irish Bank Resolution Corporation is suing Tom Browne over €50m-plus in loans

Pat Farrell, former chief executive of the Irish Banking Federation leaves the banking inquiry in Leinster House yesterday. Photograph: Gareth Chaney/Collins

Senator Seán Barrett says banking bailout would have cost €197bn, not €64bn

The allegations are understood to concern claims that preferential treatment was given by the investigation team to the Central Bank, the Department of Finance and certain witnesses in preparation for the committee’s hearings. Photograph: Getty Images

Allegations of misconduct at Oireachtas hearings made under whistleblower legislation

Former taoiseach Bertie Ahern: will appear at the Oireachtas banking inquiry. Photograph: David Sleator/The Irish Times

Former taoiseach Bertie Ahern among those due to be questioned at banking inquiry today

John Corrigan, former NTMA chief executive,  arrives at the Oireachtas banking inquiry in Leinster House on Kildare Street, Dublin. Photograph: Gareth Chaney/Collins

Agency checked on ‘appropriateness’ of dealing with Libyan sovereign fund

 Nama chairman Frank Daly and chief exective Brendan McDonagh  arriving at the Public Accounts Committee in Leinster House, Dublin, in early July. Photograph: Dara Mac Dónaill/The Irish Times

Remarkable how open Nama can be when it is having its collar felt by an Oireachtas committee

A file photograph of former Anglo Irish Bank executive Tom Browne (right) with the bank’s former chief executive David Drumm. The Oireachtas banking inquiry is to report Mr  Browne to An Garda Síochána for failing to provide a witness statement.  Photograph: Matt Kavanagh/The Irish Times.

Decision taken after Tom Browne failed to provide witness statement

Pepper is servicing 14,000 residential mortgage and personal loan customers for Danske Bank. Photograph: Getty Images

Pepper in dispute with Revenue over use of losses to cut tax bill

Brown Thomas exterior: the work is part of a wider €20 million refurbishment to modernise the premises.

Company aims to modernise its flagship store in Dublin

Seán Dunne: Project Trinity was the prime property site in Ballsbridge he acquired for development. Photograph: Bryan O’Brien

Second-round offers for Ballsbridge site acquired by Seán Dunne during boom

Ulster Bank staff were told of Stephen Bell’s  departure.

Stephen Bell believed to have thrown hat in ring to replace Jim Brown as chief executive

The Central Bank of Ireland is to hold an inquiry into alleged regulatory breaches at Irish Nationwide Building Society.

Bank says ‘reasonable grounds’ to suspect lender committed certain contraventions

Brendan McDonagh leaving the banking inquiry  at Leinster House. Photograph: Dara Mac Dónaill/The Irish Times

Former NTMA finance director tells banking inquiry agency was ‘always sceptical’ of bank’s business model

Derek Quinlan speaking at the Oireachtas banking inquiry on Thursday

Banking inquiry: Financier says he ‘never lobbied any politician’

Former taoiseach Brian Cowen arriving to the Banking Inquiry at Leinster House. Photograph: Collins

Little in the way of new information as last of box-office witnesses gives evidence

Former taoiseach Brian Cowen said he did not believe Patrick Honohan was one of those briefing against Ireland. Photograph: Cyril Byrne/The Irish Times

Patrick Honohan’s RTÉ interview ‘put us on back foot’, says former taoiseach

Former taoiseach Brian Cowen arrives at the Dáil before giving evidence to the banking inquiry. Photograph: Sara Freund/The Irish Times

Former taoiseach says it was not his intention to mislead public over talks

Brian Cowen giving evidence before the Oireachtas banking inquiry on Wednesday, July 8th  Brian Cowen giving evidence before the Oireachtas banking inquiry on Wednesday, July 8th

‘We were simply trying to get as full a picture as we could’

Former taoiseach Brian Cowen: “Obviously, in the midst of a crisis, you can’t ignore the governor of your Central Bank.”

‘There were elements within the EU institutions who were providing inspired leak ’

“If Cowen had been alive to the threat of the financial crisis that was brewing from mid 2007, his government would have had more options in September 2008 when formulating a response.” Photograph: Cyril Byrne

Former minister for finance’s failure to respond earlier to Anglo worries proved costly

Matthew Elderfield: warned that progress since 2010 in the independence and assertiveness of the supervisory model “could easily be eroded”.  Photograph: Dara Mac Dónaill/The Irish Times

Matthew Elderfield suggests review might be done by former attorney general or judge

Denis O’Brien’s Quinta do Lago golf and property resort: sale negotiations are said to be at an early stage

Local publication says two bids have been made for €220m Quinta do Lago property

Up to 50 of the concession holders at Clerys could share the offer, subject to the approval of the High Court. Photograph: Frank Miller/The Irish Times

Group had sought to block appointment of KPMG liquidators due to conflict of interest

Former taoiseach Brian Cowen arriving at Leinster House for his appearance at the Banking Inquiry, July 2nd, 2015. Photograph: Cyril Byrne/The Irish Times

Unlike Charlie McCreevy, ex-taoiseach accepts mistakes were made on his watch

Former taoiseach and minister for finance Brian Cowen appearing at the Banking Inquiry on Thursday, July 2nd, 2015. Photograph: Oireachtas TV

Official told Cowen NTMA needed ‘written instruction’ as its policy was not to lodge with Anglo

Former taoiseach Brian Cowen at Leinster House. Photograph: Cyril Byrne

Party paid ‘heavy price’ for crash, former taoiseach tells Oireachtas banking inquiry

Willie McAteer and Peter Fitzgerald had sought to be excused from questioning

Brian Cowen at the Dáil this morning before Thursday’s banking inquiry hearing. Photograph: Cyril Byrne/The Irish Times

Take-home points from the former taoiseach’s first appearance before the committee

In a dramatic turn on Wednesday,   the Banking Inquiry  adjourned to take legal advice after Charlie  McCreevy sidestepped Pearse  Doherty’s question on five occasions about whether Ireland had experienced a property bubble. File photograph: Frank Miller/The Irish Times

Ex-minister threatened with criminal sanction over stance on property bubble query

IPO document says: “Digicel is in the process of evolving from a pure mobile telecommunications company into a leading total communications and entertainment provider”

Debt is held in dollars but Digital’s revenues are collected in local currencies, most of which have dropped against the dollar in(...)

Former chair of Anglo Irish Bank Seán FitzPatrick. Photograph: Aidan Crawley

Committee tells former chairman Seán FitzPatrick he must appear before it

Former concession holders are considering a High Court court move next week to block the appointment of KPMG as liquidators. Photograph: Aidan Crawley

Concession holders considering High Court move to oppose appointment of liquidators

 VHI has been given an extra month by Minister for Health Leo Varadkar to raise the capital necessary to complete its switch to being a regulated non-life insurer as per an EU ruling in 2011. Photograph: Gareth Chaney Collins

The State-owned insurer must make switch to regulated non-life insurer by July 31st

Treasuries advanced with the yen and gold as the market fell and investors sought haven assets. Photograph: Chris Ratcliffe/Bloomberg

Iseq index falls by 2.5 per cent but full effect of debt crisis likely to come later

Accounts for OCS Operations Ltd, which ran the Clerys department store until its closure on June 12th, show it made a loss of €1.1 million in the year to the end of January 2015. File photograph: Aidan Crawley

Accounts show company loss of €1.1m in the year to end of January 2015

Project includes high-definition smart TVs in the 246 guest rooms and suites in John Fitzpatrick’s New York hotels

Irish hotelier plans refurbishment programme for the two US premises

Michael Noonan was also asked about staff shortages within the unit of the Central Bank that supervised the insurance sector. Photograph:  Eric Piermont/AFP/Getty Images

Minister says €574m in 2012 and €450m in 2013 lost through property reliefs

The share sale will dilute Denis O’Brien’s holding in Digicel, but the flotation document indicates that he will keep control of the business. Photograph: Dara Mac Dónaill

Denis O’Brien received $1.1bn in dividends from mobile phone business over three years

A Digicel shop in Jamaica: the company’s $6.5 billion total debt is denominated in dollars but its revenues come from local currencies in the Caribbean, Central America and the South Pacific. Photograph: Peter Murtagh

Near-300-page IPO registration document includes 29 pages of potential problems

Digicel paid $2 million to Communicorp, a media investment company owned by Mr O’Brien, for office space, printing and telecoms services. Photograph: David Sleator

Businessman had quarterly payout of $10m plus $950m in special dividends

Digicel Chairman Denis O’Brien

Company has just filed documents with US markets regulator

Customers queue outside a branch of Northern Rock in Kingston upon Thames, UK, during a bank run in 2007 sparked during a credit crisis at the time. File photograph: Stefan Rousseau/PA Wire

Inquiry told Central Bank chief was speaking to ‘middle Ireland’ on radio

Central Bank of Ireland chief Patrick Honohan said by September 2008, more than 90 per cent of the costs of the boom and bust had “become unavoidable”. File photograph: Getty Images

Figures relating to Irish banking and economic crash still have power to shock

‘I knew the government wouldn’t be happy but I didn’t realise they’d be so unhappy’

Banking Inquiry: Former secretary general, Department of Finance Kevin Cardiff recounted a hilarious Sir Humphrey-type conversation at the time with a colleague from another country. Photograph: Leah Farrell/Photocall Ireland

Analysis: ‘Discreet’ inquiries made in September 2008 about IMF bailout

Philip Smith was paid €635,000 annually as chief executive of the country’s largest insurer. He told the tribunal that since leaving RSA, he had earned just €25,000 in consultancy fees. Photograph: The Irish Times

Philip Smith case shone uncomfortable light on workings of Ireland’s biggest insurer

Cyril Roux, the Central Bank’s deputy governor for financial regulation:  “imperative that firms have proper systems and controls in place” to ensure lenders are delivering appropriate solutions for consumers.    Photograph: Dara Mac Donaill/The Irish Times

Central Bank thought to be particularly concerned about breaches of fair process, which it views as essence of code of conduct

Michael Fingleton led INBS for 38 years before resigning in March 2009. This was one year before the first of two recapitalisations of the institution by the State, involving a bailout of €5.4 billion.

Former INBS chief to appear on September 2nd

Former chief executive of Royal Sun Alliance Philip Smith arrives at the Employment Appeals Tribunal with members of his legal team on Monday morning. Photograph: Dave Meehan

EAT decision to award €1.25m leaves RSA Insurance reeling

The board, led by chairman John Fitzpatrick,  agreed a $100,000 donation to assist the families of those killed or injured in the Berkeley balcony collapse.

Ambitious target set for next 10 years of fundraising

The George pub on South Great Georges Street in  Dublin is part of the Danu portfolio. Photograph: Aidan Crawley

Partnership that began with Setanta and Italia ’90 has a varied portfolio

Leonard Ryan, Mark O’Meara and Mickey O’Rourke this week opened a London franchise of the famous New York steakhouse, Smith & Wollensky.

Irish trio invest €10 million in first European franchise of famed New York steakhouse

Lily Kelly, who would have worked for Clerys for 45 years this day fortnight and was due to retire, with other former staff  protesting outside the offices of  new owners Natrium on Harcourt Terrace on Friday. Photograph: Fergal Phillips

Liquidated OCS Operations Ltd which ran store made loss of just over €2m in same period

The Irish company had a market cap on admission of about €299.7 million and a total of 78.9 million ordinary shares in issue

Company began trading in Dublin and London on Friday

Denis O’Brien is selling  his  Gulfstream jet for  $67.95 million. O’GaraJets in Atlanta is selling the Gulfstream G650 S/N 6032, which has  a small Irish tricolour on its tail fin.

State-of-the-art jet, which has a small tricolour on its tail fin, can sleep up to six ‘comfortably’

Kevin Cardiff  believes then taoiseach Brian Cowen had made up his mind on a blanket guarantee before the long debate at Government Buildings on the night of September 29th, 2008. Photograph: Eric Luke/The Irish Times

Analysis: Cowen settled on guarantee before meeting - Cardiff

Former secretary general of the Department of Finance Kevin Cardiff says no adviser advocated a liquidation of Anglo Irish Bank on the night of the guarantee. Photograph: Alan Betson/The Irish Times

Kevin Cardiff says he is still not sure his position on the night was the ‘right’ one

Kevin Cardiff, a former secretary general of the Department of Finance, says it was “quite unlikely” Ireland could have financed itself in 2011 in sovereign debt markets. Photograph: Alan Betson/The Irish Times

Former secretary general at Department of Finance tells banking inquiry of leaks

Kevin Cardiff said a ‘lengthy set of options’ had been drawn up in advance of the Government’s pressing the button on a blanket guarantee.

Former finance minister Charlie McCreevey said a political statement was needed, Cardiff said

Kevin Cardiff said liquidating Anglo on that night in September 29th 2008 was ‘too dangerous to contemplate’.

‘It was too dangerous to contemplate liquidating Anglo,’ former finance official says

Legally there might be nothing wrong with the transactions last Friday that have led to Clerys closing  after 162 years in business although these  could yet be tested by creditors. Morally they stink

Gordon Brothers had split the Clerys business into two parts – a property company which owns the building and an operating entity (...)

A protest outside Clerys in support of the department store’s workers. The store closed on Friday with the loss of 460 jobs. Photograph: Ciaran D’Arcy

Protest in support of workers held outside Dublin store as KPMG meets union officials

The closed shutters of Clerys  in O’Connell Street, Dublin.  Photograph: Aidan Crawley/The Irish Times

About 50 companies seek May takings and release of stock

Clerys store on O’Connell Street, Dublin:   Concession-holders have written to liquidators KPMG seeking details on the whereabouts of their takings from May. Photograph:  Dara Mac Dónaill/The Irish Times

‘It was our impression that it would be sold as a going concern, there was no indication the store was going to close’

European Commissioner Jonathan Hill: his main project is to deliver a capital markets union in the EU by 2019, which he believes many British businesses support. Photograph: Dara Mac Donaill / The Irish Times

Commissioner Jonathan Hill says there has yet to be a debate about the alternative to EU membership

Workers protest outside Clerys on O’Connell Street in Dublin. Photograph: Kitty Holland/The Irish Times

Staff protest outside landmark Dublin retailer after loss of 460 jobs

NTR chairman Tom Roche. Photograph: Frank Miller

Committee established to consider options

Clerys on O’Connell Street, Dublin: between August 2012 and January 2015, the business lost €4.3 million and relied on loans from its parent group. Photographer: Dara Mac Dónaill/The Irish Times

Employees stage sit-in following appointment of KPMG as liquidators

The shutters come down at the entrance to Clerys Department Store in O’Connell Street, Dublin. Photograph: Aidan Crawley

About a dozen Clerys staff stage sit-in in protest

US-based cable TV giant Liberty Global, owned by  Irish-American businessman John Malone (above), is conducting due diligence on Irish  TV3 with a view to buying the business. Liberty Global  owns the UPC Ireland cable TV, telephone and broadband company. File photograph: Kevork Djansezian/Getty Images

Deal requiring regulatory and ministerial approval well advanced - but months away

Shoppers leave Clerys department store on O’Connell Street, Dublin, yesterday. At about 6pm yesterday, liquidators from KPMG broke the news to staff that the Clerys was closing for good. Photograph: Aidan Crawley

KPMG liquidators break news to staff that Dublin department store is closing

Former financial regulator Liam O’Reilly: “In future, the Financial Regulator must adopt a more intrusive and aggressive approach.” Photograph: Bryan O’Brien

Liam O’Reilly tells inquiry he accepts principles-based approach had ‘shortcomings’

Brian Patterson, former chairman of the Financial Regulator: said they did not see the enormity of the risks being taken by the banks. Photograph: Mac Innes Photography

Testimony to the banking inquiry reveals shortcomings of the Financial Regulator

File photograph of former Anglo Irish Bank executives David Drumm and Sean Fitzpatrick. Photograph: Cyril Byrne

Former taoiseach Bertie Ahern asked to appear on July 16th, before former Anglo executives

Former chairman of the Financial Regulator Brian Patterson giving evidence at the banking inquiry on June 11th, 2015.

Banking inquiry: Brian Patterson says authority was unaware of ‘enormity’ of risks

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