Union members cited ‘concern’ about flotation plans at AIB. Photograph: Reuters

Bank agree to extend agreement on job security until end of 2019

The Irish Times Inside Business podcast: Should Ireland have a minister for minimising damage from Brexit?

Switch by UK to WTO tariff rules could hit Irish agri-food sales by €800m

Ulster Bank has implemented controversial new salary ranges for staff ahead of a proposed ballot on pay. Photograph: Brenda Fitzsimons

Implementation ‘unacceptable, bad industrial relations’, says Financial Services Union

The S&P 500 and the Nasdaq were little changed in early trading on Wednesday as gains in tech stocks offset a weakness in the retail sector, while the Dow was pulled lower by healthcare shares. Photograph: Michael Nagle/Bloomberg

Theresa May’s Brexit speech weighed on Irish stocks as well as shares in London

Donald Trump: Last July, more than 140 inventors, entrepreneurs, engineers, investors, researchers and business leaders in the technology sector wrote a protest letter against him. Photograph:  Dominick Reuter/AFP/Getty Images

Those who spoke out against the US president-elect must wait to see what he may do

AIB: the bank was valued at €12.2bn by the Ireland Strategic Investment Fund  in 2015. Photograph: Cyril Byrne

IPO may be in May/June or in autumn but much depends on results and market value

Kennedy Wilson global chairman and chief executive Bill McMorrow at the company’s Dublin offices. Photograph: Brenda Fitzsimons

Directors’ remuneration at subsidiary of US property firm rose 46 per cent to €1.3 million

The winner receives a pair flights to London courtesy of CityJet, and a two-night stay for two at the Marleybone, a Doyle Collection hotel.

In a record entry, only one person got all the answers right to win a trip to London

The One Building in Dublin, one of the offices delivered last year: Cushman & Wakefield said 2017 should be “very promising” for the Irish market.

Cushman & Wakefield report predicts rents will rise to €646 per sq m

The Ilac Centre refurbishment will involve a redevelopment of the shopping centre’s Moore Mall South. Photograph: Eric Luke

Redevelopment forms part of owners’ plan to improve shopping centre’s tenant mix

Kieran Mulvey: independent mediator said plan to change salary ranges  “remains contentious” and called for further engagement between the parties. Photograph: Alan Betson

Bank and FSU yet to agree on a plan to change salary ranges in the Republic

Irish Life Investment Managers  managing director Patrick Burke. Photograph: Dara Mac Dónaill

Lack of housing supply a ‘very real issue’ for companies considering relocating to State

  Pearse Doherty  challenged narrative that the mortgage holders of loans bought by Cerberus were all customers who had not engaged with Ulster Bank. Photograph: Dara Mac Dónaill

Vulture funds must not be allowed to exploit loopholes and avoid paying proper taxes

Shareholders funds at Glen Electric Ltd at the year-end amounted to £321.5m, an increase of £25.6m on 2015

Turnover at Glen Electric Ltd declined 5.5% to £723m, while its pre-tax profit fell 49% to £19.4m

 Larry Broderick, general secretary of the Financial Services Union, said there was “significant concern” among KBC staff in Ireland that its parent could sell the operation here. Photograph: Bryan O’Brien

FSU urges bank’s CEO to end ‘uncertainty’ over whether Irish operation will be sold

Bank of Ireland has a near 21 per cent share of total mortgages in existence in Ireland and about 27 per cent of new business flow.

Bank says it will instead focus on serving its own home loan customer base

Sportdec was the number one ranked sports app in Ireland by Apple at the end of 2016 and was a top 30 sports app in the UK. The company has 17 staff in Ireland and Britain.

Sports tech firm aims to ‘disrupt’ sports industry with ‘best of sport in one place’ on app

The Zanzibar building on Dublin’s Lower Ormond Quay: the sale follows acquisition of the site for over €10 million, roughly double the €5 million asking price.  Photograph: Nick Bradshaw

Group intends to seek permission for over 100 bedrooms as part of a €45m investment

Millennium Park in Naas, Co Kildare: a business park and some 340 acres of development and agricultural land

Galway-based company paid €312m for Naas complex, later sold by Nama for €36m

The managing director at Ireland West Airport, Joe Gilmore: says the record passenger numbers is “good news” for the regional economy

Growth driven by four new services to Britain and first charter service from Boston

In Dublin, Kerry and Kingspan both finished 1.2 per cent lower, with Ryanair down 0.9 per cent. Photograph: Daniel Bockwoldt/EPA

Iseq heavyweights Kerry, Kingspan and Ryanair close day down

More than 80 per cent of Christmas Day banking activity originated on smartphones. Photograph: Andrew Gombert/EPA

Bank of Ireland even received ‘small number’ of mortgage applications on December 25th

Ballymore founder and chief executive Seán Mulryan (centre). Photograph: Alan Betson

Turnover at UK operation soars to £555.2 million from £99.3 million a year earlier

Setanta collapsed in April 2014 and its liquidation is being administered in Malta. Photograph: iStock

Dispute ongoing over which compensation body should pay €95m bill for failed insurer

Nama has 25 ghost estates remaining in its portfolio. Photograph: Eric Luke

Agency also plans to pay off all of its senior debt this year

Donal Roche: “Between the sale of Covestone to BofI and my two daughters taking over a lot of the family business, I have one foot in retirement.”

Company founded in 2008 has 150 investors and assets under management of €100m

SMBC CEO Peter Barrett described 2016 as a “landmark” year for the firm, with the company’s revenues surpassing $1 billion for the first time and its aircraft assets exceeding $10 billion

Total employee remuneration at Dublin-based SMBC Aviation Capital rises by 30% to €71.1m

AIB has already signalled that a ‘prudent dividend’ is likely to be paid in the new year. Photographer: Crispin Rodwell/Bloomberg

Investors may get dividends again, AIB may float and there may be more loans advanced

Seán Mulryan  of Ballymore Group at the launch of the proposed development of Dublin Landings. Photograph: Alan Betson

Seán Mulryan says group has also paid back RBS, KBC and other institutions

Jeremy Masding: A cap of €500,000 applies to the salaries of executives at the Irish banks that have the State as a shareholder. Photograph: Dara Mac Donaill

PTSB chief Masding says there should be three elements to executive pay

Ashford Castle, Cong, Co Mayo

From the Shelbourne to Ashford Castle: Large number opt for festive hotel packages

The Department of Finance is seeking public relations assistance with a possible flotation of AIB

Contract to run for 18 months and have an estimated value of €200,000

The Central Bank  is expected to end this year with 1,620 full-time equivalent employees. Photograph: Matt Kavanagh

Total reduced to 170 after assessment by governor Philip Lane

Former Permanent TSB executive Niall O’Grady has been appointed the new MD of 123.ie. Photograph: Eric Luke

O’Grady will take up new role in January with online insurer after 17 years with bank

Andrew Hastings

Australian lender employs 400 people in its subsidiary in Shannon and Dublin

Central Bank  governor Philip Lane: was taken to task by Oireachtas finance committee over regulator’s handling of tracker mortgage examination. Photograph: Gareth Chaney/Collins

There is merit in criticism of Central Bank’s role in mortgage tracker rate scandal

The  Central Bank told the Oireachtas finance committee that  more oversight of retail banks by boards of directors and by shareholders was needed

Central Bank says it acted to stop use of league tables to achieve new financial targets

Central Bank governor Philip Lane will face questions on the tracker mortgages controversy at the Finance Committee on Tuesday. Photograph: Eric Luke

Central Bank Governor Philip Lane says ‘significant risks’ remain for Irish banks

The Central Bank said  it expects lenders will have  commenced engagement with affect customers by  mid-2017.

Lenders expected to have ‘commenced engagement’ with customers by mid 2017

“While there is a considerable amount of new office space under construction, this is unlikely to flood the market”

New research from Savills shows rents for top offices in Dublin’s prime business locations are about €60 per square foot

Artist’s impression of the proposed hotel: it  is one of a number of new hotels being planned for Dublin, where there is a significant shortage of guest accommodation

Investment of €21m planned for Dublin hotel offering ‘compact luxury’ bedrooms

The new MD hopes to help Key Capital to double the level of assets under management in its wealth division to about €1 billion within three to five years.

Former head of Ryan family’s Irelandia Investments returns from stint in Australia

The Central Bank identified persistent low interest rates as a particular risk. Photograph: Matt Kavanagh

Regulator ‘confident’ that staffing issues involving relocations can be managed

Neither AIB nor the Department of Finance commented on  Edmund Honohan’s remarks. Photograph: Chris Maddaloni/Collins

High Court Master makes query after noting half of 98 cases before him involved AIB

“Governance practices are receiving increased scrutiny across all developed capital markets.” Photograph:  Juan Carlos Hidalgo/EPA

Appointment comes at time when shareholder activism is gathering pace around world

Minister for Social Protection Leo Varadkar:  asked Attorney General Máire Whelan if it was possible to intervene in the INM case. Photograph: Cyril Byrne

Leo Varadkar’s approach to INM pension is very different to that of last government

O’Dea returns as regulator from World Bank while Hodson and McGuire are promoted

Former INBS chief executive Michael Fingleton: The Central Bank’s inquiry into suspected regulatory breaches at Irish Nationwide Building Society is resuming its public hearings. Photograph: Alan Betson

Private equity firm says ‘no assurance can be given’ over commitments tied to home loans

Protesters outside the  INM emergency general meeting held last week in Dublin. Photograph: Eric Luke

Media group believed to have made financial offer in pursuit of swift agreement

Bank of Ireland diversification: Covestone Asset Management was put up for sale earlier this year by founder Donal Roche. Photograph: Bryan O’Brien

Covestone acquisition seen as signal of intent to move further into wealth management

David Harney, chief executive at Irish Life, on the balcony at his office on Abbey Street in Dublin. Photograph: Brenda Fitzsimons

Chief executive joined the company straight from school and took over the top job in June of this year

Solicitor Marian Shanley who is chairing the Central Bank’s inquiry into Irish Nationwide Building Society.

Inquiry members also entitled to travel costs and expenses

Permanent TSB, which is 75 per cent State-owned, says it made a “contribution to the vouched legal expenses” of David Guinane. Photograph: Alan Betson

Bank says David Guinane’s High Court action was struck out without order being made

Michael Noonan: said that at the end of November, the Central Bank had about 1,600 employees, which was below its original year-end plan for 1,695.  Photograph: David Sleator

Michael Noonan says there are 149 vacancies within the financial regulator

An Post’s new chief executive, David McRedmond, hopes the rise in the price of stamps, coupled with cost savings of €10 million, will bring the company close to breakeven in 2017. Photograph: Bryan O’Brien

Increase in price of stamps among measures aimed at offsetting decline in mail volumes

 John Whyte, former investment director, and  Harry Cassidy former chief executive officer of Custom House Capital.

Investor Compensation Company chairman critical of lack of progress in 1,428 claims

ILCU believes there will be no contagion from Rush and noted the leagues intention to fund a social housing initiative worth €500m.

Unions hopeful of providing €500m to fund social housing

An Post is set to record a loss of between €12 million and €15 million in 2016 and would lose about €40 million next year without implementing the price rises and costs savings. Photograph: Bryan O’Brien

An Post hope third increase in two years can see it break even by 2017

Rush Credit Union: its two buildings are for sale. Photograph: North County Leader

Sale of offices in Dublin towns of Rush and Lusk comes after collapse of lender

CityJet has said there is little chance of the deal with Stobart Air being revived.

Pat Byrne expresses disappointment as move ends months of negotiations with former Aer Arann

Gerry Mallon of Ulster Bank. Banks  have offered apologies but only weak explanations  for the  overcharging. Photograph: Cyril Byrne

Some 51 people have lost their homes, but banks keeping mum on cause of scandal

Minister for Finance Michael Noonan: Sarp  was due to expire at the end of 2017 but its extension has been included in the finance Bill. Photograph: Alan Betson

Noonan aims to ‘remove any uncertainty’ for foreign direct investment in context of Brexit

CEO of AIB Bernard Byrne said the bank’s NPL ratio was about 17.5 per cent. Photograph: Gareth Chaney/Collins

Ratio affects bank stress tests performances, with SME sector highest at 30%

AIB said new lending drawdowns in Ireland increased to € 4.7 billion in the nine months to September 2016, 15 per cent higher than the prior year period. Photograph: Julien Behal/PA Wire

Growth in net interest income and underlying profitability driven by lower funding costs

Savills is forecasting rental growth of just under 10 per cent in Grafton Street by the second quarter of 2018. Photograph: Cyril Byrne

Rent rises set to slow as retail economy shifts to sustainable growth, company predicts

Ulster Bank chief executive Gerry Mallon has  said about 2,000 customers were denied a tracker rate in the past by the bank’s failure to honour contractual entitlements. Photograph:   Alan Betson

Fewer than 100 out of 2,141 SMEs successfully exited bank’s loan restructuring unit

Ulster Bank chief executive Gerry Mallon: banks is “satisfied” the fundamentals of the commercial property market in Ireland “remain sound”, particularly in urban locations. Photograph: Cyril Byrne

CEO Gerry Mallon says new mortgage lending up 49% on third quarter of 2015

Michael Fingleton cited his advanced age, poor health, and  demands of separate litigation as reasons to postpone inquiry’s work. Photograph: Alan Betson

Ex-Irish Nationwide chief bids to stall inquiry into his management of failed building society

Michael Fingleton, former chief executive of Irish Nationwide Building Society, arriving at the  Central Bank inquiry on Wednesday. Photograph: Alan Betson

Ex-Irish Nationwide chief among five former directors and senior managers under scrutiny

Michael Fingleton former Chief Executive of Irish Nationwide Building Society arriving at a Central Bank Inquiry, Black Hall Place.Photograph: Alan Betson / The Irish Times

Former CEO claims proceeding with inquiry would be breach of natural justice

Alan Murphy, managing partner  Eversheds law firm.   Photograph: Alan Betson

Eversheds set to partner with Sutherland Asbill & Brennan to form single brand

Independent News and Media chief executive Robert Pitt is said to have considered his position after dispute with company chairman Leslie Buckley. Photograph: Alan Betson

Why would firm consider acquiring national radio station that is losing market share?

 Former chief executive of Irish Nationwide Building Society Michael Fingleton is expected to attend Wednesday’s hearing. Photograph: Eric Luke

All key players involved in running INBS before collapse expected to attend hearing

Robert Pitt, chief executive of INM, and Leslie Buckley, chairman of INM. Photograph: Alan Betson

Issues arose over Independent News & Media bid for station owned by Denis O’Brien

INM said CEO Robert Pitt was “fully committed to his role”.  Photograph: Bryan Meade

Chief executive Robert Pitt said to be at odds with chairman Leslie Buckley

Triona Ferriter is to become AIB’s chief people officer.

Triona Ferriter, formerly with pharma group MSD, becomes chief people officer

Billy Kane, former PTSB chief executive, set up Finance Ireland in 2002. Photograph: Eric Luke

Investment gives agency 32% stake in SME lender led by former PTSB chief Billy Kane

Ulster Bank said it would remain in a strong capital position following payment of the dividend

This is the Irish bank’s first dividend payment since the crash of the financial sector

The Rush Credit Union offices for sale in Rush and Lusk are described as “modern, purpose-built and fully furnished”. Photograph: North County Leader

Loan book is understood to comprise performing loans of €8m and delinquent borrowings of €5m

Bernard Byrne:  reminded the committee that AIB had repaid  €6.5 billion since the crash.  Photograph: Cyril Byrne

Bank chief executive says objective is to repay €20.8bn bailout in full over time

The report recommends that consumers be given detailed cost information in renewal notices, that PIAB be given greater powers, and that the book of quantum, which provides guidelines for payouts, be updated on a regular basis

Minister for Financial Services Eoghan Murphy to present his own report

Incorrect tracker rate may have been applied to unfortunate AIB customers’ loans. Photographs: The Irish Times

Correct tracker rate not applied to loans, says AIB’s Bernard Byrne

AIB CEO Bernard Byrne is “confident” of repaying full State investment over time. Photograph: Luke MacGregor/Bloomberg

Full €20.8bn can be repaid, says CEO Bernard Byrne ahead of committee appearance

Sherry FitzGerald sold about 5,800 residential units last year with a capital value of €1.8 billion. Photograph: Frank Miller

Estate agent’s profit slips due to investments in staff, offices and technology systems

First-time buyers looking to buy  a newly built home worth €400,000 will now need a deposit of €20,000 compared with €58,000 previously.   Photograph: Rui Vieira/PA Wire

Central Bank tweaking of mortgage guides will do little to aid those on low incomes

Central Bank governor  Philip Lane  announcing the revised mortgage lending rules. Photograph: Alan Betson

Philip Lane pledges to act if relaxed mortgage lending rules lead to rapid rises

Central Bank governor Philip Lane: “(Past) measures have helped to ensure that those who buy homes are better prepared to manage their mortgage payments in the event of a future downturn in the economy or in the housing market.” Photograph: Eric Luke

Board had met to consider changes to its controversial mortgage lending rules

Bewley’s is planning a major refurbishment of its Grafton Street cafe, which will  re-open on a phased basis in 2017. Photograph: Aidan Crawley

‘Onerous lease’ on Grafton Street cafe drags Irish coffee and tea group into red

Permanent TSB group chief executive Jeremy Masding once again apologised for the failure of the bank to apply the correct tracker mortgage rate to 1,372 customers. Photograph: Eric Luke

Chief tells Oireachtas finance committee bank’s trajectory is ‘clear and positive’

Mr Justice Peter Kelly: Confirmed the appointment of McStay Luby as liquidators to Rush credit union.

Some of those central to events at north Dublin lender could face criminal charges

The exterior of Bewley’s Cafe on Grafton Street, Dublin. Photograph: Aidan Crawley

Expanded Grafton St refurb to include restoration of facade and Harry Clarke windows

Rush Credit Union’s liquidators will seek to sell its offices in the villages of Rush and Lusk. Photograph: North County Leader

Buyer to be sought for portfolio of about 1,500 loans with €9 million face value

Irish Life Investment Managers charged Irish Life €44 million in fees for acting as its investment manager last year, a rise of 10 per cent on 2014.

Company paid €8 million dividend to parent Canada Life Group UK in 2015

The Central Bank ran out of patience with Rush Credit Union in October 2016 – it had a hole of €4.7 million in its reserves while its liabilities exceeded its assets by €2 million. Photograph: iStockPhoto

Non-compliance, fund misappropriation and debt provision killed off Rush Credit Union

Rush Credit Union was deemed  insolvent with its  liabilities exceeding its assets by €2 million. Photograph: Garrett White

Credit union had €4.7m hole in reserves amid allegations of financial irregularities

On the wider issues facing the motor insurance market here, chief executive Mark Wilson said Ireland had been “living in dreamland”. Photograph: Joe O’Shaughnessy

Company chief says it has gone from one of the weakest balance sheets to strongest

The selected groups will assist the State with early-stage preparations for an IPO of AIB shares. Photograph:  Cyril Byrne

Government to appoint investment banks to assist in future stock listing

IRBS chief executive Ross McEwan: in 2014 he argued that teaser rates were a poor way to treat customers. Photograph: Dave Meehan

Parent company Royal Bank of Scotland scrapped them in the UK in 2014

Richie Boucher, Bank of Ireland chief executive, who will appear before the Oireachtas finance committee on Thursday. Photograph: Aidan Crawley

Exemption on regulator’s loan-to-value limit for 15 per cent of customers is welcomed

There’s no sign of Greencore chief executive Patrick Coveney losing his appetite for the job. Photograph: Cyril Byrne

Patrick Coveney clearly did his homework before the deal but still has some work to do

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