Wilbur Ross: reported to be leading a group that agreed to invest €400 million in Cyprus’s biggest bank via a private placement. Photograph: David Sleator

The archbishop of Cyprus has taken the unusual step of urging thousands of small investors in the island’s biggest bank to reject a €1 billion share s(...)

Wall Street firms have been cutting hours - and boosting salaries - for junior bankers as they seek to prevent defections to rivals such as private-equity funds. Photograph: Peter Foley/Bloomberg

Morgan Stanley is understood to be raising base salaries for junior bankers by about 25 per cent as part of an effort to improve working conditions an(...)

Private equity is reportedly bidding up the price of housing development land in Dublin. Photograph: Frank Miller

Big international private equity companies, such as Anchorage, Oaktree Capital and Centerbridge, are betting on a continuation of house-price rises(...)

A trader works on the floor of the New York Stock Exchange yesterday. Stocks fell sharply, with the S&P 500 posting its biggest one-day percentage drop since April 10th  on news that a Malaysian Airlines passenger jet crashed near the Ukraine-Russia border. Photograph: Reuters/Brendan McDermid

European shares slumped yesterday, sharply extending losses at the end of the trading day on news that a Malaysian passenger plane had been shot down(...)

Morgan Stanley: Revenue rose to $8.6 billion, from $8.5 billion a year ago, following a 25 per cent increase in sales from investment banking and a 5 per cent gain in the wealth management business. Photograph: Peter Foley/Bloomberg

Morgan Stanley capped off what has proved to be a better than expected earnings period for Wall Street by unveiling a 46 per cent jump in second-quart(...)

American Airlines: results today. Photograph: Mike Fuentes/Bloomberg
For you diary

TODAY Results: American Airlines; Bank Mutual; Citigroup; First Bancorp; Kuehne & Nagel; Omnicom; Publicis Groupe; Whirlpool. Meetings: Finance4Gr(...)

Outside JPMorgan’s offices at Canary Wharf in London: the bank has warned that its revenue could slump by 20 per cent in the second quarter of this year. Photograph: Chris Ratcliffe/Bloomberg

The big US banks from Citi to JPMorgan to Goldman Sachs, Bank of America and Morgan Stanley are braced for weak second-quarter earnings despite an inc(...)

Apax Partners, CVC Capital Partners, and KKR are reported to be among the private equity groups that have been approached to form a consortium to acquire Eircom.

Eircom staff are in line for a 5 per cent pay increase over the next four years following a deal struck by the company and its unions. Bonuses and oth(...)

In Dublin, Ryanair was up 1.03 per cent to €6.80 in a busy day’s trading in aviation stocks across Europe and in the United States. Photograph: Rui Vieira/PA Wire

Investors took the opportunity to reflect yesterday on recent gains, particularly with the US corporate results season looming into view.China’s seco(...)

A busker playing outside a branch of Permanent TSB in Dublin. Photograph: Getty Images

Permanent TSB will ensure that the buyer of its Springboard sub-prime mortgage portfolio will sign up to the terms of the Central Bank of Ireland’s co(...)