US stocks fluctuated in early trading, as investors weighed the timing for higher interest rates amid data showing the fastest rise in consumer prices in two years.  Photographer: Chris Ratcliffe/Bloomberg

Iseq Overall Index in Dublin rises 0.1 per cent to 6,273.56 even as banks slip back

AIB is implementing its second SVR rate cut in six months, which will reduce its headline rate to 3.9 per cent from 4.15 per cent

Bank of Ireland is not planning to lower its standard variable rate before July 1st, the deadline set by the Minister for action (...)

Mr Noonan said there was agreement from all lenders that customers should have access to more competitive mortgage products

Central Bank warns measures could have a detrimental effect

John Hurley: made clear to the inquiry he thought the government’s decision to separate out financial regulation more than a decade ago was a “mistake”. Photograph: Cyril Byrne

Central Bank ex-governor John Hurley says regulation delegated to financial regulator

John Hurley appearing at the Oireachtas banking inquiry on Thursday.  John Hurley at the Oireachtas banking inquiry on Thursday.

Former Central Bank governor John Hurley says he ‘would not have advised’ the risk

Established in 1992, Applegreen has 98 forecourts in the Republic,

Board of Irish fuel group Petrogas is expected to give a green light to IPO

File photograph of Enda Kenny. Mr Kenny has been called to give evidence at the banking inquiry, along with Tánaiste Joan Burton. File photograph: Niall Carson/PA Wire

Joan Burton and Michael Noonan also sent invites to attend Oireachtas committee

John McDonnell, Partner PwC and Ronan Murphy, Senior Partner PwC appearing before the Oireachtas banking inquiry

Director defends quality of B of I, AIB and Bank of Scotland audits around time of crash

 Minister for Finance Michael Noonan relayed message on interest rates to AIB, Ulster Bank and ACC when they met  yesterday. Photograph: Gareth Chaney/Collins

State seeking fall of up to 0.75 percentage points within two months

AIB’s rate cuts have put some  blue water between it and Bank of Ireland,  whose SVR is 4.5 per cent. These things are never black and white, of course – Bank of Ireland will pay the 1 per cent stamp duty for first-time buyers.

Minister’s meetings with Permanent TSB and Bank of Ireland will be different

Former head of Irish Nationwide Michael Fingleton (left) and Taoiseach Enda Kenny are to be called as witnesses at the Banking Inquiry.

Opposition politicians in place at time of economic crash to be questioned

The cost of sales at the UK subsidiary declined to £13.6 million from just under £15 million while its operating expenses reduced by 3.4 per cent to just over £10 million. Photograph: Matt Kavanagh

Company reduces tax bill to record after-tax profit of £966,000

A number of high-profile hotel and leisure assets are connected with the portfolio, including the Lyrath Estate Hotel in Kilkenny (pictured) and the Regency Hotel in Drumcondra in Dublin. Photograph: Dylan Vaughan

Assets connected with UK bank’s sale of €4.2bn of loans includes Lyrath Estate

Retail shareholders in Permanent TSB have subscribed for 479,954 new shares in the company under the terms of an open offer, which formed part of the bank’s €525 million recent capital raise.

Issuance of 3-year notes marks significant step in bank’s re-entry into wholesale markets

 Alan Dukes: was referring to Ms Nolan’s comments to the committee that there was a culture in IBRC “that never really recognised the damage they had done to the country”.

Former IBRC chairman says Anne Nolan showed a lack of understanding

Richard Burrows, who was Bank of Ireland chairman in 2008, outlined in  detail yesterday the events of September 29th. Photograph: Cyril Byrne

When major players on the night of the bank guarantee give conflicting evidence, it is clear we are not yet getting the full pic(...)

Ulster Bank Group Headquarters

Loans were connected with Project Aran, a portfolio of Irish real estate

Former RSA Ireland chief executive Philip Smith. He  “had to be a fall guy to satisfy the various outside interests”, his barrister claimed. Photograph: Dave Meehan

Insurer’s internal investigation ‘prejudicial’, Employment Appeals Tribunal told

It is not clear how much Enterprise Ireland has paid for its investment in Cesanta

Fledgling Irish internet software company Cesanta to hire extra staff

Minister for Finance Michael Noonan: expects the State to get back all of the funds put into AIB, Bank of Ireland and IL&P. Photograph: Dara Mac Dónaill

Total falls short of €29.5bn banks received as part of bailouts

Sentenial’s directors include former Minister for Finance, Charlie McCreevy

New initiative will offer businesses a non-bank option for payment processing

Bill Kyle, chief executive of Irish Life, said assets under management at ILIM had exceeded €50bn Photograph: Dara Mac Dónaill / The Irish Times

Irish Life Investment Management played significant part in growth over three months

Former Ulster Bank executives Michael Torpey (left) and Robert Gallagher speaking at the Oireachtas banking inquiry on Thursday

Former Ulster Bank executive has ‘no doubt’ about proactivity to attract deposits

A briefing note for Michael Noonan said just 11 payments authorisations had been provided in Ireland as opposed to more than 1,000 in the UK and that no “e-money licences” have been granted by the Central Bank. Photograph: Matt Kavanagh

Claim made in feedback from British businesses to Irish Ambassador

Cormac McCarthy former chief executive of Ulster Bank apologised at Dáil banking inquiry for not anticipating the financial crash and for relying too much on  certain economic assumptions in the years before 2008. Photograph:  Matt Kavanagh

‘Our strategy, while genuine in its motives was . . . ultimately ill-judged and mistaken’

 Bank of Ireland chief executive Richie Boucher: told the banking inquiry he was “surprised” the guarantee “went beyond senior debt”. Photograph: Dara Mac Dónaill/The Irish Times

Bank of Ireland chief gives frank account of events to inquiry

Former chief executive of Ulster Bank Cormac McCarthy speaking before the Oireachtas banking inquiry.

Ex-Ulster Bank boss Cormac McCarthy spoke with former minister at client event

Does Brian Cowen merit him being grilled for up to 20 hours when the executives who actually led the banks and almost bankrupted the State have only been required to spend about four hours each in the witness box?

Richie Boucher is the only senior bank executive to have survived the clean-out of directors by Government at domestic banks

The Radisson Blu in Galway

Loans comprise properties in Ireland, Britain and the United States

International event to attract top riders to Fairyhouse in May

Colm Lyon and his wife Niamh reportedly made €90m from sale of Realex. Photograph: Eric Luke

Survey findings reflect long recovery in tech sector since dotcom bubble in 2000

Ciarán Lynch (left) and Pearse Doherty asking questions of Jean-Claude Trichet, former ECB president, in Dublin. Photograph: Eric Luke

Bank helped Ireland more than any other country, says former ECB head

AIB Headquarters in Ballsbridge Dublin. Photograph: Bryan O'Brien

The move will benefit about 158,000 mortgage account holders

Patrick Honohan: has decided to step down at the end of the year

Governor to use publication of bank’s 2014 report to announce move

 Former ECB president Jean-Claude Trichet at an event in Dublin yesterday. Photograph: Eric Luke

Bank had been ‘extraordinarily supportive’ of Ireland, ex-ECB boss tells panel

Former Bank of Ireland chief executive Brian Goggin during today’s sitting of  the Joint Committee of Inquiry into the Banking Crisis.

Former Bank of Ireland chief says Brian Cowen was ‘very much in charge’

The purchase of the luxury Savoy hotel group in London and the €1.166 billion purchase of the Jurys Inn budget hotel chain were among  high-profile deals put together by Derek  Quinlan (above) before the banking and property markets crashed in late 2008. File photograph: Alan Weller/Bloomberg

€1.166bn purchase of Jurys Inn budget hotel chain among deals put together by Quinlan

Ex-chief executive Eugene Sheehy said: ‘I am keenly aware of the damage caused and this fact occupies my thoughts on a daily basis’.

‘We took too much risk in the sector that turned out to be toxic,’ Sheehy says

Chairman Richard Pym at the AIB annual general meeting at Ballsbridge, Dublin. Photograph: Eric Luke

Shareholders were even allowed to go up to interact with Richard Pym and David Duffy

A Ryanair statement said: ‘The airline expects these funds to be repaid shortly, and has taken steps to ensure that this type of transfer cannot recur.’ Photograph: Chris Ratcliffe/Bloomberg

CAB investigates after funds are taken from airline’s account by electronic transfer

It is understood PTSB will address the issue of its standard variable rate in the next six to eight weeks

Chief executive hopes to return lender to private ownership by end of 2017

Ulster Bank has designed a new user-friendly communication, urging customers to engage with the bank. This will be sent out this week

Ulster Bank promises lower payments and write-offs to customers who engage

PTSB chief executive Jeremy Masding described the investor interest as “exceptional” with the company making more than 100 presentations to potential investors over the past six months.

Bank sells €400m in shares and sources €125m via debt instrument

Ulster Bank said on Monday that it is seeking to engage with about 2,000 mortgage arrears customers. It said it won’t seek to repossess a  home if the borrower engages with the bank and it can agree a solution or outcome. (Photograph: Alan Betson / The Irish Times)

Bank says it won’t pursue those who qualify for social housing for residual debt

Bernard Byrne, who has held a number of leading roles in AIB, has been named as new chief executive. Photograph: Eric Luke/The Irish Times

Bank must now wait for permission from ECB regulator to make appointment

 Ann Nolan  of the Department  of Finance:  raised issues of proper governance around the sale of Apthorp, a condominium on Manhattan’s upper west side, in 2012. Photograph: Eric Luke/The Irish Times

Department of Finance queried IBRC in 2012 about the sale of multimillion-dollar loan

From 2002 to 2009, Donal Forde ran the AIB unit responsible for €17 billion of loans for land and property development in Ireland. Photograph: Cathal McNaughton/Reuters

Donal Forde says he remains ‘very conscious of my failure and of the bank’s failure’

Former managing director of AIB , Donal Forde, at Leinster House for the hearing of the Oireachtas banking inquiry. Photograph: Clodagh Kilcoyne

Ex-MD who issued €17bn in land and development loans offers mea culpa

Former head of retail operations at AIB Donal Forde: “My own failing is a matter of deep personal regret.”

Inquiry hears evidence from bank’s former head of retail operations Donal Forde

Permanent TSB plans to raise €400 million with potentially additional shares being sold by the Government. Photo: Alan Betson/The Irish Times

Bank plans to raise €400m with additional shares potentially being sold by Government

Brendan McDonagh was summoned to Government Buildings at 7.45pm on the night of the guarantee. He was the NTMA’s director of finance at the time. Photograph: Eric Luke

Brendan McDonagh tells how officials were left in side room during dicussions

While the number of legal cases commenced and the level of repossessions ratchets up, the overall level of arrears has eased for AIB, reducing by 18 per cent in the Republic in 2014. Photograph: PA

Bank’s robust approach in selected cases aimed at flushing out strategic defaulters

Governor of the Central Bank of Ireland Patrick Honohan: would not favour any move to compel Irish banks to lower their standard variable rates. Photograph: Charles Platiau/Reuters

Anger grows at interest rates charged by Irish lending institutions

John Hourican: rejects speculation his return to Ireland is linked to seeking to become the new chief executive of AIB in succession to David Duffy.

John Hourican took job with Bank of Cyprus to rebuild it after national debt crisis

In January, Nama said it had collected €23.7 billion in disposal receipts, so chief executive Brendan McDonagh’s latest presentation suggests that some €1.3 billion in cash was generated by Nama in the first three months of this year. File photograph:  Cyril Byrne/The Irish Times

Chief executive says Nama is ‘firmly on course’ to repay senior debt

Quinn Insurance: as of September 30th, there were 2,317 claims outstanding on its policies. Photograph: Julien Behal/PA Wire

International group’s case to be heard at High Court on June 5th

The RDS wants to increase its main arena capacity from 18,500 to about 25,000 to host Leinster Rugby’s Pro 12 and European home matches, along with the Dublin Horse Show and outdoor concerts. Photograph: David Sleator

Society wants to increase main arena capacity to 25,000 for horse show

Applegreen has 98 forecourts in the State, including 12 dealers and eight motorway stations

Irish fuel group targeting an IPO of its service station business for June

Interior of the five-star Powerscourt hotel in Enniskerry, formerly a Ritz-Carlton, which Tetrarch says pays more than €1m annually in council rates and ground rent to the Slazenger family.Photograph: Cyril Byrne/The Irish Times

Irish investment group in talks with UK chain to bring Z Hotels to Dublin

Michael McElligott photographed at Guild House, IFSC Dublin. Photograph: Brenda Fitzsimons/The Irish Times

With 1,500 employees and €450 million of assets to manage, Tetrarch chief executive Michael McElligott is glad his daughter made h(...)

Banking inquiry committee chairman Ciarán Lynch said: “A key element for the committee is that this inquiry will be conducted in an open and transparent manner.” Photograph; Dara Mac Dónaill

Biggest expenditure has been on staff and recruitment at €1.32m

The Oireachtas Banking Inquiry has called former Taoiseach Brian Cowen to give evidence to the committee. Photograph: Alan Betson

Charlie McCreevy among others who received letters from Oireachtas committee

The number of accounts in arrears of 90 days or more fell by 1,730 to 59,138 Photograph: iStockphoto/Thinkstock

Data show that 3,101 owner-occupied home loans came out of arrears during the month

It is amazing how the fortunes of Permanent TSB have changed in the past six months

It’s still a stretch to think we’ll get back entire €2.7bn in bailout funds but picture is brighter

TV3’s chief executive David McRedmond declined to comment to The Irish Times on Doughty Hanson’s decision to cease fundraising for a new fund

Irish station had been the subject some unsolicited bids in past 12 months,

Move is part of €525m capital raising plan via new shares and debt instrument

The 32-seat cinema which has been added to Ashford Castle

Cong resort covers 350 acres and offers spa, pool and luxury facilities

PTSB, currently 99.2 per cent owned by the State, announced last month that it intended to raise €525 million in new capital

State’s shareholding in PTSB not expected to drop below 75 per cent

The 350-acre Mayo property was once Guinness family home

Mortgage arrears service at KBC Bank. Photograph: Bryan O’Brien

KBC and the Irish Mortgage Holders Organisation (IMHO) extend advice and negotiation services

 Sherry Fitzgerald’s turnover in the 12 months to the end of December 2013 rose by 28 per cent to €20.8 million. Photograph: Cyril Byrne

Pretax profit of €100,000 marked a near €1m turnaround on previous year

AIB is a significant provider of seed capital funding in Ireland. It has committed €90 million to six funds, which have a combined size of €343 million

Elan offshoot has now secured €103m for venture capital fund

PTSB has also agreed to the disposal of certain non-core assets in Ireland and the UK

Permanent TSB updated restructuring plan approved by European Commission

Jeremy Masding, group chief executive, and Alan Cook, chairman, Permanent TSB,   at the agm in Dublin. Photograph: Alan Betson/The Irish Times

Chairman Alan Cook takes some heavy blows from irate investors

 Jeremy Masding, group chief executive, and Alan Cook, chairman at Permanent TSB annual general meeting in Dublin. Photograph: Alan Betson / The Irish Times

PTSB to reveal details of fundraising plan in “next few weeks”

The IMHO’s proposals will probably prove too radical for the Government but changes will be made. Photograph: Thinkstock

IMHO has proposed a number of changes to address the risk of significant home repossessions

Plan involves local authority supplements to prevent 25,000 home repossessions. Photograph: Thinkstock

IMHO calls for scheme to help borrowers in arrears

Former English flanker Neil Back, one of TV3’s match analysts for its   Rugby World Cup coverage. Photograph: Ryan Byrne/Inpho

Broadcaster sells more than €3m of advertising in one day

Former editor of The Irish Times Geraldine Kennedy arriving at Government Buildings  for a hearing of the banking inquiry. Photograph: Bryan Meade

Editorials and articles addressed property issues, says former editor

Former editor of The Irish Times Geraldine Kennedy arrives at the Dail for her appearance before the banking inquiry. Photograph:  Bryan Meade/The Irish Times

Geraldine Kennedy tells banking inquiry ‘magnitude’ of crash not predictable

Brian Hayes has campaigned against what he views are “excessive” standard variable mortgage rates  charged by Irish banks since being elected to the European Parliament. Photograph: Dara Mac Dónaill/The Irish Times

Commission rejects Brian Hayes’s call to investigate ‘excessive’ variable mortgage rates

 Fianna Fáil leader Micheál Martin with  finance spokesman Michael McGrath. The party would be prepared to support the payment of a long-term bonus to the new chief executive of AIB. Photograph: Gareth Chaney/Collins

Private investors like their senior executives to have some skin in the game

Former Italian prime minister Mario Monti warned anti-Brussels sentiment and rising populism in France threatened to blow the bloc’s Franco-German axis apart. Photograph: Chris Ratcliffe/Bloomberg

Aramark eyes Avoca, Aer Lingus bid latest and Europe’s ‘big problem’

The showcase race at the Easter Festival is the Boylesports Irish Grand National, which this year has an increased prize pot of €275,000

Course manager hoping for good weather for three-day Easter event

IFSC in Dublin: 5,000 new fintech jobs would represent a doubling in employment in this burgeoning part of the IFSC. Photograph: Bryan O’Brien / The Irish Times

Ireland needs to tap venture capital more for FinTech funds

Irish property developer Johnny Ronan:  Believed to be just days away from exiting from Nama

Former Treasury Holdings partner has over €250m debts with Nama

The economic recovery and increasing numbers of overseas visitors has boosted business at the K Club

K Club resort is undertaking €20m expansion that includes an additional 70 bedrooms

European Central Bank president Mario Draghi arriving for an EU summit in Brussels yesterday. Photograph: AFP Photo/Thierry Charlier

ECB says it does not take part in national parliamentary inquiries

Denis Brosnan: “If you worked in a multinational you saw no recession in the past five or six years. If you worked in a small business you’ve either gone out of business or you’re still struggling to survive”

Former Kerry Group chairman says financing of local economy would help SMEs

Mickey O’Rourke:, said revenues at Setanta’s Irish business amount to about €30 million annually. Photograph: Eric Luke

Investment includes rights deal with Uefa to cover Champions League

 Mickey O’Rourke, Setanta Sports. Photograph: Eric Luke / The Irish Times

After founding the sports network in 1990, owner Mickey O’Rourke has seen it endure some tough times

 Banking inquiry chairman Ciarán Lynch:    would not put a cost on the increased security around the 30,000-plus documents that it has received from various banks and institutions in recent months Photograph:  Dara Mac Dónaill/The Irish Times

Oireachtas committee has to be careful not to cut across legal proceedings being pursued by Director of Public Prosecutions

Bank of Ireland chief executive Richie Boucher. His pay has remained unchanged since 2013.

Chief executive’s total remuneration unchanged on 2013 at €843,000

PTSB wants to consolidate the number of shares in issue from the current  36.5 billion to 365 million. Photograph: Alan Betson/The Irish Times

PTSB says higher price-per-share range would be ‘more appropriate’ after capital-raising

Philip Smith and his legal team arrived at the Employment Appeals Tribunal earlier this month. Photograph: Dave Meehan

Counsel for former chief executive seeks to punch holes in insurer’s processes

John Sheehy is the latest senior executive to leave Liberty in recent months

Former Quinn Insurance says it has lined up replacement

Philip Smith, former chief executive of RSA Ireland, arriving at the Employment Appeals Tribunal. The tribunal heard that Mr Smith rang the chairman of the company’s Irish board on the day the terms of an internal financial inquiry were being framed. Photograph: Dave Meehan

Philip Smith allegedly sought assistance before internal inquiry

Philip Smith said he had been made the “fall guy” by RSA when certain issues emerged at the Irish business in October 2013. Photograph: Gareth Chaney/Collins

Accusation that inquiry's findings were pre-ordained incorrect, tribunal told

 David Duffy, AIB’s outgoing chief executive: Fianna Fáil’s finance spokesman Michael McGrath said AIB needed to “cast the net far and wide in the search for a top calibre candidate” to replace him. Photograph: Eric Luke

Payment would depend on five-year contract and return on bailout funds

PTSB Group chief executive Jeremy Masding: the bank has offered 27,000 sustainable long-term solutions to its mortgage arrears customers

Bank turns in a good result with 2014 income up by €56m to €308m

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