Joe Brennan

Joe Brennan

Joe Brennan is Markets Correspondent with The Irish Times.

NATO secretary general Jens Stoltenberg addresses the assembly at the World Economic Forum annual meeting in Davos. Photograph: Fabrice Coffrini/AFP via Getty Images
Nato head tells Davos elite that freedom more important than profit

Stoltenberg calls Nord Stream 2 fiasco a ‘key lesson’ and cautions against Chinese control of 5G networks

The war in Ukraine has meant food security now tops climate change as the issue most conerning delegates at the World Economic Forum in Davis, Switzerland. Photograph Jalaa Marey/AFP via Getty Images
Food crisis knocks climate off top of Davos agenda

Russia’s blockade of Ukrainian ports ‘a weapon of war’ with global repercussions

OECD general secretary Mathias Cormann says the 15% tax rate could be delayed until 2024. Photograph: Eric PIermont/AFP
OECD chief says it is in countries’ self-interest to implement 15% tax rate

Davos: Cormann acknowledges that start date could be delayed until 2024

Francois Villeroy de Galhau, governor of the Central Bank of France, at the World Economic Forum in Davos. He said Europe’s economy was showing itself to be quite resilient. Photograph: EPA/Laurent Gillieron
Citigroup chief executive says Europe is sliding into recession

Bank of France governor Francois Villeroy de Galhau claims Europe proving resilient

US chipmaking giant Intel has seen its energy costs in Ireland, currently its main European manufacturing base, rise sharply at a time when power inflation remains more muted in the group’s home market, it said
Intel executive urges State to tackle energy costs

Ireland has to look at its infrastructure and competitiveness, executive says at Davos

Ukrainian President Volodymyr Zelensky delivers an address via videolink during the opening plenary session of the 51st annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, on Monday. Photograph: Gian Ehrenzeller/EPA
Zelenskiy calls for maximum sanctions against Russia in Davos address

Ukrainian president tells global leaders such measures should include embargo on oil

Almost 70 per cent of DCC’s profits come from energy: the company is looking to convince the markets that green energy can be even more profitable for it and its investors. Photograph: iStock.
DCC’s latest pitch to the ESG crowd fails to electrify – for now

Market Beat: Company promises green energy can deliver even better profits than its traditional energy portfolio

Natwest Group’s Ulster Bank Northern Ireland said on Thursday it is closing nine of its remaining 44 branches later this year. Photograph: Alan Betson
Ulster Bank Northern Ireland to close nine further branches

Bank says 50% of customers bank entirely online and it will rely on post office link for counter access

Traders on the floor of the New York Stock Exchange: The Dow Jones Industrial Average fell more than 1,000 points as markets continue their volatile trend. Photograph: Spencer Platt/Getty
Dow drops 1,100 points as concerns over inflation rise

Technology stocks sensitive to interest rates lose their bounce as Fed chief talks tough

World Economic Forum founder Klaus Schwab said the global food crisis, in particular, needed the attention of delegates at this year’s forum which begins at the weekend. Photograph: Jean-Christophe Bott/EPA
Davos 2022 ‘the most timely and consequential’ forum ever, says WEF founder

Issues of war, epidemics and climate and global food crises need to be addressed by delegates

Ulster Bank says it is pushing out wide-scale redundancies until next year, and keeping branches open as it goes through the process of exiting the Irish market. Photograph: Brian Lawless/PA Wire
Energy suppliers snub Oireachtas committee on bank switch concerns

Exit of Ulster Bank and KBC could impact on customers’ direct debit arrangements

Irish banks are on track to grow their revenue streams after widening their product offering, according to Standard & Poor’s. Photograph: iStock
S&P upgrades outlook for largest Irish banks’ credit ratings

Agency optimistic Irish lenders can manage fallout from pandemic and Ukraine war

Global investors have built up cash levels last seen in the aftermath of the September 2001 terrorist attacks. Photograph: iStock
Global fund managers hoard cash at 9/11 levels amid stagflation fears

Some 77% of fund managers expect slow growth and high inflation, survey finds

Central Bank said the banking sector should engage with direct debit originators to avoid payment issues as accounts are closed and customers move to new banks.
Central bank says more ‘joined-up planning’ needed on bank exits

BPFI has hosted three virtual meetings with direct debit originators in recent months

DCC chief executive Donal Murphy unveils plans to bundle the LPG and retail and oil divisions into a new division, called DCC Energy. Photograph: Cyril Byrne
DCC expects profits to double by 2030 as it chases net zero emissions

Operating profits for year to March rise 11.1% to €695.5m

Central Bank confirmed that PCP for car purchases and ‘buy now, pay later’ finance have come under its regulatory purview on foot of new laws. Photograph: Getty
Hire purchase and buy now, pay later deals fall under Central Bank remit

Users of such financial products now protected by consumer code

The Government is seeking the views of the public on continuing pay restrictions across Irish banks that were bailed out during the financial crisis, as part of a review of the future of the sector.
Government seeks public views on banker pay caps

Department of Finance launches consultation paper on banks amid sector assessment

EU Commission has hiked its Irish inflation forecasts as it lowered its growth outlook for EU, saying Russia’s invasion of Ukraine ‘posed new challenges’. Photograph: iStock
EU hikes Irish inflation forecasts as it lowers European growth outlook

European growth would flatline this year in event of outright cut in Russian gas, EU says

The average credit union in the Republic had just €27 out on loan for every €100 of assets as of September, close to historically low levels, according to the Central Bank.
Credit union law plans ‘no silver bullet’, says Minister

Residential retrofit lending ‘best opportunity’ for credit unions to grow

Grid Finance concluded it will not make any return to its original financing pool, the peer-to-peer lending market
Grid Finance secures €100m from UK-based Fasanara to grow SME lending

Cash-advance lender focusing on short-term loans to merchant card financing

Digital banking channels are the main form of contact for 70 per cent of consumers. However, 23 per cent said that their main form of contact was the branch where they held accounts.
Most Irish consumers feel banking culture has not improved since crisis

Those not using online services tend to find banking has worsened, report says

Information on individual Irish internet uses, from their locations to what they are reading online, are being exposed to advertisers and data companies an average of 392 times a day, according to figures compiled by the Irish Council of Civil Liberties.
Irish internet users’ data being shared 392 times a day, ICCL says

Retail-time bidding is ‘the largest data breach ever’, says civil liberties group

Centra council chair Ciaran Mangan, Centra managing director Ian Allen and sales director Cormac Dawson. Photograph: Jason Clarke
Centra sees move to cheaper ‘own brand’ amid inflation

Retailer plans to open a further 18 stores in 2022

Aviva and Zurich have hit out at proposals to establish a rescue fund for bust insurers or make industry players set aside more capital
Aviva and Zurich push back at insurers rescue fund plan

Seen & Heard: Johnny Ronan nears Bank of Ireland refinancing of €141m loans

At the height of the pandemic, as Wall Street banks scrambled to ease burnout among their overworked junior employees, some rolled out a gift that came to symbolise the era: Peloton bikes. Photograph: Getty
Covid fitness stock Peloton’s investors feel the burn as it rips through money

Joe Brennan: New CEO surprised at cash flow situation as he tries to stabilise enterprise

A trader works on the floor of the New York Stock Exchange. It is more important than ever for investors to take a long-term view, claims one analyst. Photograph: Justin Lane/EPA
‘Everything rally’ turns ugly as markets fret central banks will choke activity

Great unknown hanging over markets is how long the war in Ukraine will last

Cairn Homes chief executive Michael Stanley. The company declined 0.2 per cent to €1.04. Photograph: Nick Bradshaw
European shares fall on mounting concerns over rising interest rates

Investors betting on bigger rate hikes from Fed as US inflation tops 8.3%

Central Bank governor Gabriel Makhlouf: ‘We have reached the point where we on ECB’s governing council need to act.’ Photograph: Nick Bradshaw
ECB needs to act on interest rates, Central Bank governor says

Makhlouf adds voice to growing clamour for July ECB rate hike

FBD Group remains confident in its underlying profitability and growth prospects, despite an inflation-driven rise in the cost of settling claims. Photograph: Nick Bradshaw
FBD ‘confident’ on growth even as inflation fuels motor and property claims

Average premium falls 1% with private motor insurance premiums down 9% on last year

KBC Bank Ireland reported a net loss of €298 million last year, as it booked a raft of costs tied to its planned exit from the Republic. Photograph: Brian Lawless/PA Wire
KBC Ireland posts quarterly loss amid €32m of charges related to exit

Bank’s planned sale of mortgage loan book to Bof I subject of competition review

Hostelworld has benefited from millennial and Gen-Z travellers returning to backpacker trails. Photograph: iStock
Hostelworld revenues rebound to 97% of pre-pandemic levels

Travellers opting for longer stays in locations, company reports

The proposed deal would grow PTSB’s loan book by more than 40 per cent. Photograph: Alan Betson
Watchdog examining PTSB’s Ulster Bank loans buy plan

Heightened assessment in line with level applied to Ulster Bank and KBC Irish exits

Balmoral is 59 per cent owned by investment vehicles controlled by members of the McCann family, including the group’s chairman, Carl McCann. Photograph: Frank Miller
McCanns’ Balmoral settles Cerberus debt at 16% discount

Property company has paid €48 million to US investment firm, annual report indicates

McColl’s had been struggling in recent times from supply-chain disruption caused by Brexit and Covid-19. Photograph: Ben Stansall / AFP
AIB and Bank of Ireland to escape McColl’s losses amid rescue deal

Retailer’s wholesale partner, Morrisons, struck a deal to take over the insolvent company

AIB managing director of capital markets Cathy Bryce and Foresight partner James Livingston
AIB sets up SME equity fund with Foresight to speed green transition

Bank provides cornerstone investment of €30 million in partnership with UK firm

Minister for Finance Paschal Donohoe has also been drip-feeding AIB shares into the open market since January. Photograph: John Ohle
Dreaded R-word hampers Donohoe’s hopes of AIB block sale

Joe Brennan: Plans to open third front selling AIB shares must surely be on hold for now

Hanover-based German Property Group, formerly known as Dolphin Trust, collapsed after taking €1.5 billion from investors in the Republic, the UK, Asia and elsewhere after it was set up by Charles Smethurst in 2008. Photograph: iStock
Liquidators of second Dolphin-linked firm weigh legal action

Irish investments were channelled to German group through special-purpose vehicles

Moody’s said the impact of any international agreement on corporate income tax reform “appears manageable”. Photograph: iStock
Moody’s upgrades its credit rating on the Republic to A1

Ratings agency expects Government’s debt burden to keep declining

Mark Bourke, former chief financial officer of AIB: ‘the ideal candidate’.
Irish executive Mark Bourke named CEO at Portugal’s Novo Banco

Former AIB chief financial officer held similar role in Novo Banco for past three years

AIB expects the ECB to increase its deposit rate from minus-0.5 per cent to zero by the end of the year. Photograph: Bryan O’Brien
AIB raises interest forecast and launches share buyback

Bank to hire as many as 700 temporary staff to help migrate Ulster Bank, KBC customers

AIB’s chief executive Colin Hunt sees “huge opportunity” in the potential new pool of customers.
AIB to hire up to 700 temporary staff to help with Ulster and KBC customers

Bank expecting a surge in new business as foreign-owned lenders exit

AIB chief executive Colin Hunt. Photograph Nick Bradshaw for The Irish Times
AIB raises interest guidance and launches share buyback

New lending rises by 18% in the first quarter

Wall Street’s main stocks indexes were lower in early afternoon trading, dragged down by growth stocks ahead of a widely expected interest-rate hike. Photograph: Hiroko Masuike/The New York Times
European shares drop on disappointing earnings and Fed fears

Iseq down 0.5% as travel and leisure names weaken

‘We can’t get our banks up to sustainable levels of profitability with one arm tied behind their backs,’ said BPFI chief executive Brian Hayes
Irish banker pay cap poses ‘systemic risk’ for sector, lobby chief warns

Retention of talent cited as key issue as overseas lenders and fintech disrupt market

JP Morgan Chase chief executive Jamie Dimon in Clonakilty, west Cork to meet employees from Global Shares. Photograph: Daragh Mc Sweeney/Provision
JP Morgan’s Dimon expects Cork deal to boost future IPOs pipeline

Wall Street veteran gives Fed a 30% chance of pulling off a soft landing

Bunq’s Easy Green account has a scheme to plant a tree for every €100 spent on one of its metal cards. Photograph: iStock
Dutch fintech Bunq vies for Ulster Bank and KBC account holders

Bunq launches current accounts in Irish market offering Irish Ibans

Most of AIB’s employees are on track to receive a 10 per cent pay increase spread over three years in the longest-lasting pay deal struck between an Irish retail bank and trade union officials as a result of a spike in the living costs in the past year.
AIB staff in line for 10% pay increase over three years

More than 6,000 staff to benefit from the agreement

When it comes to getting households to save for unforeseen expenses, financial shock therapy may be just the ticket. Photograph: iStock
Financial ‘shock therapy’ may help people save for unexpected expenses – study

Trial used Bank of Ireland customers to find behavioural insights into saving habits

PTSB agreed last year to buy an estimated €6.8 billion of mortgages and small business loans from Ulster Bank, as the latter exits the market. File photograph: Alan Betson
PTSB new lending grows 11% in first three months of 2022

Bank agrees a 6.5% pay increase over two years for employees, amid soaring inflation

AIB CEO Colin Hunt: ‘We’re doing everything in our power to create a strong, sustainable bank.’ Photograph: Nick Bradshaw
Colin Hunt: Green transition ‘is the biggest opportunity in the history of global banking’

AIB is emerging from the pandemic in a strong position given its earnings potential and rising interest rates

The Sky Tower in Poland: Demand in eastern Europe was ‘robust’ during the first quarter, particularly in Poland and Romania, underpinning 11 per cent sales growth in CRH’s wider Europe Materials unit
CRH sees earnings growth despite energy costs and Ukraine war

Building materials group saw sales rise 15 per cent in first half

The pay hike is in line with a wider international experience that also saw the pay gap between chief executives and workers widen last year. Photograph: Benoit Tessier/Reuters
Chief executives of leading firms see pay double from pre-Covid levels

Bonuses drive executive rewards as business booms on back of pandemic stimulus

Senior Central Bank officials defended their approach to the authorisation of financial firms at a meeting of the bank’s commission last month
Central Bank commission members query ‘onerous’ regulatory hurdles

No let-up in level of applications since Brexit vote, officials say

Ken Fennell, who is leaving his position as head of restructuring at Deloitte to join UK firm Interpath. Photograph: Nick Bradshaw
Interpath plans Irish practice after swoop on Deloitte and KPMG partners

Firm aims to start with ‘boots on the ground’ in the Republic from June

A plan by Smurfit Kappa to extend the board term of chairman Irial Finan by up to four years beyond what is considered good practice, under a code for UK and Irish listed companies, has secured the backing of two influential advisers to major investors. Photographer: Luke MacGregor/Bloomberg
Smurfit Kappa clinches key backing to extend chairman’s term

Irial Finan should have stepped down from board in February last year, after nine years

Dermot Desmond: the Irish billionaire holds a 33.1 per cent stake in Rietumu Bank. Photograph: Dara Mac Dónaill
Dermot Desmond-backed bank can handle ‘worst-case’ scenario from Ukraine war

Rietumu Bank in Latvia has €200 million-plus of loans exposure in turbulent region

The offices of Credit Suisse in Zurich. Photograph: Arnd Wiegmann/Reuters
Scandal-hit Credit Suisse has reasons to be glad this year’s AGM is again virtual

Bank faces a monumental struggle to restore its reputation as the pressure mounts

Ukraine war may delay call on Irish banks to hold more capital

Regulator had wanted Irish banks to ringfence 1% of their risk-weighted assets as a buffer

The Irish League of Credit Unions headquarters on Mount Street in Dublin. Photograph: Frank Miller
Credit unions body eyes rainy-day fund to help plug €90m pension deficit

Irish League of Credit unions has written to members about its plan to tap fund

Heat Merchants sells plumbing goods to trade customers while Tubs & Tiles specialises in bathrooms and tiles for the retail market. Photograph: iStock
Wolseley UK to buy back Heat Merchants and Tubs & Tiles in Republic

UK group had sold the businesses at the height of the property crash

European stocks were lacking direction with Thursday’s ECB meeting likely to set the tone for the weeks to come. Photograph: Bernd Kammerer/AP Photo
European shares tread water as investors eye ECB meeting

Markets report: Investors fret about inflation impact on food groups

Kingspan chief executive Gene Murtagh addressing a Kingspan shareholder agm. File photograph: The Irish Times
Kingspan faces pushback on first Iseq ‘say on climate’ vote

Insulation group says advisory firm ‘displays a misunderstanding’ of climate resolution

Citi’s expansion plans in the Republic in 2022 include new roles in risk, audit, finance and treasury as well as technology positions in the areas of cloud computing, software engineering and blockchain. Photograph: Nicholas Roberts/Bloomberg
Citigroup to create 300 new jobs in Dublin

US banking giant already employs 2,500 in State

Ulster Bank has 360,000 active personal current accounts in the Republic. Photograph: Brian Lawless/PA Wire
Ulster Bank starts giving six months’ notice to account holders to move

Customers not obliged to take any action until they receive letter or email, bank says

Proxy advisers oppose a 26% increase in the baic salary of Flutter chief executive, Peter Jackson. Photograph: Nick Bradshaw/The Irish Times
Flutter shareholders urged to rebel against chief’s 26% pay hike

Proxy advisers sceptical of justification for outsized increases in executives’ basic salary

KBC Bank Ireland has said that, from June 1st, it will start to give its current account customers 90 days’ notice to close their accounts. Photograph: Nick Bradshaw
KBC Ireland set to give current account holders 90 days to move

Central Bank concerned banks ‘not where they need to be’ in handling numbers looking to transfer accounts

Bank of Ireland has decided to stop providing specialist loans of up to €60,000 to graduate entry medical students from July. Photograph: iStock
Bank of Ireland cites falling demand in ending medical course loans

Bank was last lender offering product which required guarantor and sparked criticism

Citibank is planning a major balance sheet expansion at its Dublin-based European hub. Photograph: Justin Sullivan/Getty Images
Citigroup plans ‘significant’ asset growth at Dublin-based EU hub

US bank’s European unit saw its profit jump more than 150% last year to $1.2bn

Vincent Mortier, Amundi’s chief investment officer. ‘If we are entering into an era of lower growth I’m afraid that there will be more competition between states to attract capital and companies’
Amundi CIO sees slowing economies long-fingering OECD plan for 15% tax

Prospect of European recession ‘growing day by day’, says Vincent Mortier

US shares were out of sorts in early afternoon trading as rising bond yields weighed on megacap growth stocks such as Microsoft, Alphabet and Apple
European shares drop amid China’s Covid spike and tight French election

Iseq advances 1.1% as Irish market bucks wider European trend

Private equity money is driving a wave of consolidation in the Irish insurance broker market. Photograph: iStock
US insurance broker NFP to double Irish business with third deal

Private equity-backed group is buying recently established Dublin-based ReSure Corporate Brokers

A computer-generated image of housing units set to be developed by Quintain Ireland at its €250 million Cherrywood Village development in south Dublin
Quintain receives permission for 488 Cherrywood homes

Construction on the €250m south Dublin development is expected to begin in June

Residential property prices increased by 14.8 per cent on the year nationally in January, according to the latest figures from the CSO. Photograph: Brian Lawless/PA Wire
Rising cost of living hits Irish would-be homebuyers

Soaring prices forced 70 per cent of those surveyed to look beyond their top location choice

CRH chief executive Albert Manifold. The building materials giant said it is proposing that 15 per cent of awards under its executive performance share programme for 2022 be tied to ESG targets. Photograph: Cyril Byrne
Executive bonuses linked to ESG goals at three-quarters of Iseq-20 companies

Move has been accelerated in the latest slew of annual reports

KPMG Ireland managing partner Seamus Hand. ‘We believe that the acquisition of KMCS is a great opportunity, representing another component of our growth strategy.’ Photograph: Dara Mac Donaill
KPMG Ireland buys construction consulting firm KMCS

Irish construction activity growth eased in March amid heightened inflation

Businessman Jay Bourke has vowed continue the fight over his €12m debts. Photograph: Courts Collins
Government considers €60m windfall tax on energy companies as bills soar

Seen & Heard: Jay Bourke’s debts, Gan’s results, and homes at O’Devaney Gardens also make the headlines

Bank of Ireland wasn’t the favoured plaything of investors betting which Irish bank would be first to start returning excess capital.
BoI steals march on AIB in returning excess capital to shareholders

Joe Brennan: Its big pitch to investors when refloating was €3bn over-capitalisation

Ulster Bank will start writing in the coming weeks to customers to give them six months to move their banking elsewhere – after its UK parent decided early last year that it was withdrawing from the Republic. Photograph: Sasko Lazarov/Rollingnews.ie
Big Ulster and KBC switch could be ‘catastrophic’ for those that dally

More than one million current and deposit accounts must find new homes

GMIB, which was founded in 1989, expects its workforce to grow from a current 85 to 250 over the next three to five years. Photograph: iStock
Kerry-based insurance broker snapped up by US group for over €100m

Deal for Gallivan Murphy is latest in a wave of consolidation in sector

The Government has raised more than half a billion euro from the sale of shares in Bank of Ireland on the stock market since last June, bringing to €6.5 billion the State’s return on bank’s €4.7 billion crisis-era bailout. Photograph: Bryan O’Brien
State return on crisis era bailout to Bank of Ireland now stands at €1.8bn so far

Bank of Ireland’s cash returns to State near €6.5bn as share selling continues

Digicel is to leave the Panama market, saying a recent merger spelled the end of competition for smaller players.
Denis O’Brien to pull plug on Digicel Panama after rivals merge

Consolidation ‘spells end of competition in the telecoms market for smaller players’

Bank of Ireland chief executive Francesca McDonagh. Photograph: Laura Hutton/The Irish Times
Bank of Ireland starts first share buyback since 2004

Bank fined €463,000 by the Data Protection Commission over reporting errors on loans

The Central Bank now forecasting an average inflation rate of 6.5 per cent for this year. Photograph: Alan Betson
Central Bank cuts 2022 Irish growth forecast by a third amid Ukraine crisis

Regulator has also scaled back 2023 growth forecast to 4.3 per cent

Minister for Public Expenditure Michael McGrath: The cost of welcoming 100,000 refugees to Ireland could be between €1.4 billion and €1.7 billion this year. Photograph: Nick Bradshaw
Salary hikes may trigger inflation ‘spiral’, Central Bank warns

Ictu’s private sector arm advising officials to lodge pay claims of 2.5% to 5.5%

Banking stocks were mixed, with Bank of Ireland falling 1.1 per cent to €2.014, while AIB added 1.2 per cent to €5.94
European shares rise as Musk’s Twitter stake excites tech investors

Iseq index advances 1.5 per cent to 7,289.09

The deals will increase the gross annual premiums written by LHK, run by managing director Colm Kelleher, by about a third to €40 million.
Insurance broker LHK Group to buy two smaller rivals

Third-generation family business to acquire Richardson Insurance and Insurance Shop

The holy grail is getting young customers in – for a gap year, for example – and who go on to use Hostelworld every summer while at college and into the early years of their working lives. Photograph: iStock
Can investors who checked in at Hostelworld finally sleep more easily?

Online travel agent ended 2021 with a net loss of €36 million, adding to the €47 million shortfall the previous year

The Hanover-based German Property Group, formerly known as Dolphin Trust, collapsed last year after taking €1.5 billion from investors in the Republic and elsewhere.
Dolphin Trust-linked firm’s liquidator targets former investment distributor

Irish investors only entitled to 10% of Germany site assigned as main security for loans

Dublin-based paper packing giant Smurfit Kappa said on Friday it had decided to quit the Russian market, joining a host of multinationals that have pledged to stop business in the country after it invaded Ukraine in late February
Smurfit Kappa to exit Russia as war in Ukraine enters sixth week

Paper products company has 800 employees in the country

Digicel’s net debt stood at $5.5 billion at the end of December, resulting in a figure that was 5.7 times 12-months ebitda, including leases
Digicel revenue and earnings rise in final three months of 2021

Telecoms company’s net debt stood at $5.5 billion at the end of December

Jonathan Cosgrave of Melior Equity Partners (left), Fiona Timmons, chief financial officer of Salmon Software and John Byrne, CEO and founder of the business
Melior to take controlling stake in Salmon Software

Most of the investment is by way of the acquisition of new stock to grow the business

Cathal Friel, chief executive of Irish company Open Orphan.
Open Orphan says Covid infection study may accelerate new vaccines

Shares in Open Orphan were up almost 5% in late morning trading in London

Cork native Mike Frawley joined PTSB in late 2018. Photograph: Alan Betson
PTSB chief risk officer Mike Frawley quits for AIB

Frawley will join rival AIB later this year

Gary Morrison, who has led the company for almost four years, said that current trends suggest net bookings ‘will continue to recover’. Photograph: iStock
Hostelworld sees ‘very strong start’ to 2022 after two Covid-hit years

Revenues picked up by 10% last year to €16.9 million

Central Bank governor Gabriel Makhlouf: engaging with firms ‘to make sure they understand the rules’. Photograph: Dara Mac Dónaill
Half of Irish Russian-linked SPVs have connections to sanctioned parties

About 15 to 16 special purpose vehicles have links, says Central Bank governor

Central Bank of Ireland governor Gabriel Makhlouf says the regulator is ‘concerned at the impact of inflation’. Photograph: Nick Bradshaw
Inflation-easing measures should be targeted, Makhlouf says

Any measures should be temporary, says Central Bank governor

Central Bank figures show the rate of owner-occupier mortgages in arrears for more than 90 days is the lowest since since March 2010. Photograph: Alan Betson
Irish mortgage arrears rate falls to lowest level in almost 12 years

Percentage of owner-occupier loans in arrears for more than 90 days drops to 4.5%

Corporate law firm Philip Lee’s M&A Insights report estimates that €46 billion of the record total €96 billion of Irish deals last year amounted to cross-border transactions
Ukraine war may weigh on repeat of €46bn worth of Irish deals

Sectors including technology and renewable energy set to continue thriving, law firm says

First Citizen Finance had talked about potentially writing about €1 billion worth of mortgages over three years.
First Citizen Finance unlikely to enter mortgage market

Non-bank lender considered home lending after news Ulster and KBC would exit Ireland

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