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Ciaran Hancock

Ciaran Hancock

Business Affairs Correspondent

Ciaran Hancock is Business Affairs Correspondent with The Irish Times.

Pat McCann, chief executive of Dalata Hotel Group: “Hotels need to get into a position where they can generate sufficient working capital.”
Ireland’s hotels have debts of €6.7bn

About 300 of 850 hotels are in financial difficulty but turnover is up at most hotels

RSA is acquiring 66,000 policies from Aon, primarily motor and home insurance customers
RSA firms up position in Irish market with acquisition of AonInsure.ie

Insurer hopes move will help it build on its 16% market share

The Permanent TSB AGM at the Ballsbridge Hotel.
Permanent TSB chief says mortgage debt write offs will be applied in some cases

Masding says 9,200 customers in mortgage arrears are now on a “treatment” plan

“You’re no better than a bloody civil servant,” a woman shouted at chairman Alan Cook, above, who by this point was starting to fray around the edges. Photograph: Barry Cronin
Booing, slow hand-claps, shouts of fury – Permanent TSB’s Cook feels the heat

Analysis: There was fury at Minister for Finance’s proxy vote against an adjournment at a fractious agm

“Aggressive pricing and margin deterioration was exacerbated by a very poor summer release schedule as a result of numerous sporting events such as Euro 2012 and the [London] Olympics,” group managing director Stephen Fitzgerald said. Photograph: David Sleator
Losses at retailer Golden Discs increased by 77 per cent last year to €129,000

Poor results blamed on “aggressive pricing” and “margin deterioration”

Belgium’s KBC Bank says Irish unit’s loan loss provisions could hit €400m this year

KBC Bank Ireland recorded loss of €77m in quarter due to high loan loss provisioning

UK outsourcing and asset management group Capita expects to create an additional 800 jobs in Ireland over the next three years
UK outsourcing group Capita to double Irish workforce to 1,600 over next three years

Capita to hire some IBRC bank staff to manage loans as part of Nama contract

Herb Hribar, chief executive of Eircom
Hribar confident of steering Eircom towards viable future

The Eircom chief executive sees himself as a man who gets things done, and looks forward to many solvable challenges at the compan(...)

London-based Independent Strategy is a fan of Nama: “Nama, the superbly run Irish ‘bad bank’, may well deliver a profit to add to the exchequer balances down the road,” it says. Photograph: Cyril Byrne
Here’s hoping for victory for Ireland

Cantillon: A research note published by London analysts gives an upbeat view on Ireland’s prospects

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