Datalex shares were suspended in Dublin in May as it failed to publish its 2018 results by a regulatory deadline.

Travel retail software firm prematurely booked service revenue on flawed project

KBC chief executive Johan Thijs: ‘Let’s now stop doing all the nitty-gritty stuff, which is an administrative hampering of the development of the financial institution  – and the financial market as a whole in Ireland.’

Joe Brennan: Thijs figured he was among his own kind when bemoaning tracker scandal

KBC Group’s chief executive Johan Thijs

Comments will be ‘upsetting to the families who lost their homes’ says Paschal Donohoe

KBC Group chief executive Johan Thijs: “We’re focused on doing business, we’ve learned our lessons, we know what to do.”

Belgian banking boss says focus on ‘nitty gritty stuff’ is holding back Irish banks

Bank of China is planning to carry out the purchase of Irish stockbroker Goodbody’s through its UK unit, which opened an Irish branch two years ago. Photograph: iStock

State-controlled bank has notified competition authorities of agreement worth €150m

The latest provision brings to €142 million the amount KBC has ringfenced in recent years to cover redress, compensation and other costs relating to the tracker crisis.  Photograph: Bryan O’Brien

Charge drives reduction in bank’s net profit

Reuters poll of economists suggested that the probability of a no-deal Brexit has dropped to 20 per cent from 30 per cent in October

‘Number of cliff edges’ still facing Irish business

It has been reported that CRH has hired investment bankers at JP Moran to find a buyer for the business.

The transaction could net materials giant $3bn

All told, the bank has sold €4.3 billion of senior and junior debt within the past two years.

Offering attracts investor bids for seven times the amount of debt on offer, bank says

Central Bank deputy governor Ed Sibley

Deputy governor Ed Sibley says bank ‘does not have a preference for loan sales’

Revolut has 9 million retail and 100,000 business customers internationally and close to 1,500 employees

Bank of Ireland says mobile app will launch at end of year

Kevin Nowlan, chief executive of  Hibernia Reit. Photograph: Tom Honan.

But business sentiment has softened in recent months, property company warns

Photograph: Getty

Investors becoming more conscientious about where their money is put to work

Irish shares rallied  as Nigel Farage, leader of the Brexit Party in the UK, boosted the chances of Boris Johnson getting his EU withdrawal deal over the line

Markets report: Investors grappled with issues ranging from violent Hong Kong protests to Spanish election results

The total stock of mortgages in the State will reach a turning point next year and expand by 0.1 per cent to €93.1 billion as the level of repayments is finally overtaken by fresh home loans taken on by borrowers. Photograph: Getty Images/iStockphoto

Mortgage lending on track to expand by 11% this year to €9.6bn, Davy analysts say

Could Edmond Scanlon be about to preside over a radical shift in Kerry Group’s identity?

Market Beat: Group linked with $25bn takeover of DuPont’s nutrition business

Jim Barry,  chief investment officer of  BlackRock Alternative Investors. Photograph: Dara Mac Dónaill

Friday interview: Jim Barry, investment chief at BlackRock Alternative Investors

Savvi, has been fined €185,500 by the Central Bank for breaching its long-term lending limits and paying remuneration to a directo

State’s second-largest credit union breached loan regulations

The Irish Times reported last month that Bank of China was in pole position to buy Goodbody. Photograph: Tony Gentile/Reuters

Irish Life and Davy were among three short-listed bidders for the stockbrokers

New mortgage lending at the bank rose at an annual pace of 17% during third quarter

Mainstream Renewable Power founder Eddie O’Connor. Photograph: Frank Miller

Energy from projects due to come on stream from 2021 after record fundraising

Some 165 protected disclosures were made to the Central Bank from whistleblowers during the period. Photograph: Alan Betson

Mortgage arrears still a ‘serious problem’ more than a decade after financial crash

Photograph: Cathal McNaughton/Reuters

Bank sitting on €4 bn of excess deposits at a time when ECB is charging negative rate

Sean Corkery, Datalex’s chief executive and acting chairman. Photograph: Tom Honan for The Irish Times.

Irish travel retail software group facing strict targets as it seeks to increase loans to €11.3m

Mothercare has lost nearly half its share value this year. Photograph: Ben Birchall/PA Wire

Mothercare shares sink as company’s UK operation goes into administration

Paul Coulson, who effectively owns 33 per cent  of Ardagh.

Leverage of group unaffected by this intended financing

 Jeremy Masding:  he was initially tasked in 2012 with convincing the government and the European Commission that PTSB had a future after its €4bn  taxpayer bailout. Photograph Nick Bradshaw

Between 240 and 360 positions could be cut under biggest overhaul since Jeremy Masding unveiled cost-cutting initiative in 2012

 Jeremy Masding, group chief executive  of  Permanent TSB where job cuts are expected to be announed next year. Photograph: Colm Mahady/Fennells

Four of the State’s five surviving retail banks are working on a major cost-cutting drive

Quintain is one of the bidders that submitted an offer to take an 80 per cent stake in the former Irish Glass Bottle site.

UK development business sets up Irish unit to deliver homes and commercial office space

Jeremy Masding has led Permanent TSB for eight years. Photograph: Eric Luke

Bank has begun process of finding new boss

Derville Rowland, director-general of financial conduct at the Central Bank of Ireland. Photograph: Nick Bradshaw

Affected customers now number 40,500, with €693m paid in refunds and compensation

Ulster Bank is planning a fresh round of job cuts at the group. Photograph: Alan Betson

Operating profit rose to £54m in first nine months of the year

State decided not to repay the UK early as it would have led to a €200 million penalty under a break clause attached to the facility

Outstanding principal stands at £2.01 billion

 The Glass Bottle site in Ringsend.

Ballymore Group and Ronan Group among potential partners to develop Ringsend site

Standard Club Ireland employs six people in Ireland. Photograph: Alan Betson

Amount of business through Ireland equates to 45% of firm’s global premiums

Bank of Ireland dropped 4.2 per cent to €4.26, while Permanent TSB dipped 0.5 per cent to €1.23.

FTSE and European stocks make small advance

Derville Rowland, head of financial conduct at the Central Bank: “Our hope is that enforcement action following a breach of one of the standards would send a strong message.”

Regulator seeks additional powers from Government

John Given, who has joined corporate law firm Philip Lee as a senior partner in its mergers and acquisitions team.

Top lawyer John Given joined Elan in 2013 just as the drugmaker was subject of takeover battle

Quinn Insurance:  Administrators allege breach of contract and breach of duty in PwC’s auditing. PwC denies the claims.  Photograph: Brenda Fitzsimons

Administrators look to next year for case over how PwC audited Quinn Insurance

The appointment of Mary Campbell as the head of Deutsche Bank’s operation in Ireland comes at a time of massive restructuring at the German bank. Photograph: Kai Pfaffenbach/Reuters

Executive has held multiple roles in bank’s operations in Dublin, Frankfurt and London

AbbVie: working with its lawyers and tax advisers on ways of getting around  Irish stamp duty. Photograph: Smith Collection/Gado/Getty

Lawyers make efforts to get around surprise tax liability after Budget 2020

Ireland’s overall pension system stands in 11th place out of 37 countries assessed for the Mercer index.

Ratio of workers to retirees set to fall sharply over next three decades

Sterling is likely to weaken as markets open, said Lee Evans, head of foreign exchange trading and strategy at Bank of Ireland’s markets and treasury division. Photograph: Justin Tallis/AFP

Stlerling likely to weaken as vote on EU deal yet to happen

Glanbia’s board engaged with shareholders behind 70 per cent of its stock following dissent at the AGM over remuneration.

Shareholders ‘generally supportive’ of approach to remuneration, food group says

Financial regulators in countries like Germany, Italy and the Netherlands may move to temporarily ban a practice where investors can bet on shares falling in value – known as short selling – in the event of any market panic about a disorderly Brexit.

Joe Brennan: short selling allows for alternative views in a market and improves its efficiency

Minister for Finance Paschal Donohoe used the Finance Bill to close off a loophole found in last year’s Finance Act. Photograph: PA

Smaller companies get extra time to deal with transfer pricing rules

While the banks in the Republic have made significant progress in lowering their NPLs ratio, it stood at 8.5 per cent last December

Real estate loans to SMEs topped the non-performing loans table

Gavin Slark, chief executive of Grafton Group. Photograph: Alan Betson

Economic uncertainty hits demand in UK and weighs on sentiment in Ireland

Fexco in  Killorglin, Co Kerry, employs over 2,400 people. File photograph:  Don MacMonagle

Stockbroking firm being sold by Kerry-based Fexco which owns 51% of the business

Eir is majority owned by two firms controlled by French billionaire Xavier Neil. Photograph: Alan Betson

Moody’s estimates that sale will save Eir about €6m a year in interest costs

UK prime minister Boris Johnson told Conservative MPs that his government is nearing an accord with the EU.

Wall Street lower but upbeat results a solid start to third-quarter earnings season

Fexco employs more than 2,400 people. Photograph: iStock

Total income up 11% to €236m at Kerry-based group

 Neil Woodford’s  equity income fund was put into liquidation on Tuesday by its administrators, Link Fund Solutions. Photograph: Richard Cannon

Woodford Equity Income Fund enters liquidation over issues revealed in June

Paul Coulson, right. A Delaware jury ordered in 2017 that Ardagh pay $50.3m to Green Mountain, a company that claimed the group’s US glass unit infringed a patent. File photograph: Alan Betson

Group had to pay out to settle patent dispute involving a business it bought five years ago

Central Bank governor Gabriel Makhlouf:  the Bank plans to look into the practice by some insurers of charging existing customers higher rates than new clients,Photograph: Nick Bradshaw

Sinn Féin TD condemns practice of charging existing customers more than new clients

Credit unions hold about €1.8 billion in investments   in the UK.

Investments cannot be held in country that’s outside of EU

The main priorities of Bank of Ireland’s new CFO, Myles O’Grady, will include delivering on a three-year financial plan. Photograph: Peter Muhly/AFP/Getty Images

Myles O’Grady to replace Andrew Keating later this week

CPL founder and chief executive Anne Heraty said in the annual report that the current financial year has started well for the company.

Salary hike to €575,000 ‘does not give a specific explanation regarding the increase’

Former Smurfit Kappa chief executive Gary McGann’s case was registered with the High Court on Friday, and he is being represented by law firm Arthur Cox, according to court filings. Photograph: Alan Betson

Gary McGann claims payments were a gift from Smurfit’s private-equity ex-owners

The Green Reit transaction will incur an unforeseen tax bill of up to €65m. File photograph: Cyril Byrne

Planned €1.34bn takeover of UK property firm Henderson Park moving towards conclusion

IDA Ireland’s chief executive Martin Shanahan has joined the UCD Michael Smurfit Graduate Business School. Photograph:   Dara Mac Donaill

Background brings international business and national policy experience to role

Allergan’s portfolio is best known for Botox, a hugely popular non-surgical cosmetic treatment. Photograph: Reuters

Immediate target of Budget 2020 measure was Green Reit takeover

AbbVie faces a €572 million stamp duty bill on the purchase of Botox maker Allergan following budget changes made by Minister for Finance Paschal Donohoe

AbbVie’s purchase of Allergan is collateral damage as Minister targets Green Reit deal

AIB chief executive Colin Hunt has carried out his first major executive reshuffle. Photograph: Nick Bradshaw

Mary Whitelaw to become director of corporate affairs and strategy

Connaught House on Burlington Road, which housed the offices of the Irish Bank Resolution Corporation. Photograph: Alan Betson

Liquidators’ case rejected, with amount involved reported to be in region of £20m

The Irish Glass Bottle site at Ringsend has   the potential to deliver 3,500 homes for 8,000 people, 10 per cent of which would comprise social housing. Photograph: Cyril Byrne

Marlet Property Group, led by developer Pat Crean, also among parties to submit an offer

Green Reit’s  shares fell by as much as 2.5 per cent to €1.856 amid the highest level of trading activity since the takeover deal was first announced in mid-August. Photograph: Cyril Byrne

Henderson Park faces €13.4 million stamp duty bill after deal goes through

The bonds were priced to carry an interest rate – or yield – of 0.229 per cent, the NTMA said on Thursday. Photograph: iStock

Agency settled on €2bn issue, having initially targeted between €1bn and €1.5bn

Minister for Finance Paschal Donohoe said he had instructed officials to “intensely scrutinise” activities by IREFs over the coming year. Photograph: Tom Honan

Imposition of 50 per cent debt limit in budget aimed at halting ‘aggressive’ tax avoidance

The move comes a year after the NTMA tapped  global debt markets for €3 billion in an inaugural green-bond sale

State’s debt management agency hires banks and securities firms to manage debt sale

Paul Nunan previously led Link Fund Solutions Ireland.

New unit opening in two weeks’ time to be headed by Paul Nunan

IDA Ireland chief executive Martin Shanahan. Photograph: Brenda Fitzsimons

Report concludes that economic benefit of scheme continues to outweigh its cost

Traders on the the New York Stock Exchange. Photograph: Spencer Platt/Getty Images

Markets report: Aryzta, BoI and PTSB fall but Malin bucks the trend on ISEQ to add 4.8%

The planned purchaser of Green Reit, UK property fund Henderson Park, will likely be hit as the Government limits the ability of former real-estate investment trusts to continue to enjoy exemptions on capital gains tax.

Budget 2020: Minister takes aim at ‘aggressive’ tax avoidance in property funds

Ulster Bank said that it will be in contacted with all affected customer “at the appropriate time to help them as their loans transition to the new owner.”

The portfolio includes 2,800 owner-occupier loans with a face value of €715m

Czech energy firm EPH’s planned purchase of a 80 per cent stake in the Tynagh Energy gas power plant in Galway has been given the go-ahead from competition officials.

Tynagh Energy founder Bran Keogh’s Mountainside Partners vehicle will continue to hold 20 per cent

Neil Woodford’s asset management company sold its stake in Malin.

Pentwater bought shares at 60% discount to Malin’s ‘intrinsic value’

European shares closed higher on Friday, helped by a solid US jobs report for September.

Markets report: Aryzta closes 7.8% higher as investors cheer sale of most of Picard stake

Aryzta’s shares have fallen by 95 per cent since the company bought a 49 per cent stake in Picard in early 2015.

Shareholders happy despite price being below what market expected

Tony O’Reilly Junior, CEO of Providence Resources, has extracted more than €7 million in remuneration from the company , mainly by way of basic salary.

What happens now at Providence?

In a statement on Friday, Aryzta, which is the maker of Cuisine de France, said it had received a binding offer.

Cuisine de France owner agrees €156 million sale of 43% stake in French frozen foods firm

Sean Corkery: joined the board in April as deputy chairman as the company grappled with the fallout of accounting irregularities that emerged three months earlier. Photograph: Tom Honan

EY declined to give opinion on travel retail software company’s 2018 accounts

Life sciences company Malin is focused on four priority assets. Photograph: iStock

Troubled asset manager thought to have sold 1.6m shares earlier this week

The governor of the Central Bank,  Gabriel Makhlouf, during his visit to  Dundalk Institute of Technology. Photograph: Nick Bradshaw

Central Bank governor says 16% fall in sterling against the euro since the UK decided to quit the EU has already hurt Irish busine(...)

Digicel’s earnings before interest, tax, depreciation and amortisation (Ebitda) dropped 2 per cent to $244 million, continuing a trend seen in recent years

Group likely to engage with bondholders in coming months on its $1.3bn of 2021 notes

For September alone, corporate taxes jumped by almost 15 per cent to €910 million. Photograph: iStock

Department of Finance sees GDP growth slowing to 0.7% under disorderly Brexit

The deal was priced to carry a coupon, or interest rate, of 5.25 per cent.  Photograph: Bloomberg

Rival Bank of Ireland postponed less risky deal last month

Dave Lewis: departure is a surprise. Photograph: Reuters

Supermarket giant says incumbent Dave Lewis will exit next summer

Pay across bailed-out Irish banks has been capped at €500,000 and bonuses effectively banned for the past decade as they face an 89 per cent tax.  Bank of Ireland, which is 14 per cent State-owned, is an exception. Photograph:   Bryan O’Brien

Findings at odds with advice from recruitment consultants that pay restrictions should be eased across bailed-out banks

The Irish Banking Culture Board’s chairman Mr Justice John Hedigan.

‘They’re a heartless bunch’, says FF’s McGuinness

Photograph: iStock

Debt management agency will hire a group of bankers to market the bonds

Hypo Real Estate Bank chief executive Georg Funke with Depfa chief Gerhard Bruckermann in 2007 when Depfa was bought by the commercial property bank. Photograph: Thorsten Jochim/Getty Images

Dublin-based Depfa is planning to hand back excess capital to German bad bank FMS-WM

The €14.3 billion put into the Apple escrow account, which is comprised mainly of European bonds, includes interest attached to the original commission figure.

Spectre of negative interest rates set to wipe €70 million off account’s value per year

Cullaun Capital is led by former senior AIB and Ulster Bank executive Stephen Bell. Photograph: Chris Bellew/Fennell Photography

Property lender hires former Nama, Pepper and IBI executives to bolster expansion plans

  Bernard Byrne  stepped down earlier this year as chief executive of AIB after nearly four years at the helm. Photograph: Eric Luke / The Irish Times

Companies here may also take to the acquisitions trail once agreement reached

AIB’s average number of staff fell to 9,801 in 2018 from 10,137 the previous year. Photograph: Alan Betson

Bank has no plans for large-scale layoffs

Bank of Ireland  has extended its financial services joint venture with the UK Post Office to at least the end of 2026

Partnership will continue to focus on providing branded range of savings, mortgages and personal loans

Neil Woodford, known as  the ‘Oracle from Oxford. Photograph: Richard Cannon

Once-revered UK stock picker still linked to Irish life-sciences investment company

Ulster Bank CEO  Jane Howard: ‘It is going to be a challenge to generate new income. Therefore, the lever we’re going to have to pull is cost.’ Photograph: Dara Mac Donaill

CEO Jane Howard refuses to give figure of how many jobs could be cut or a timeframe

 Jane Howard, CEO of Ulster Bank. Photograph: Dara Mac Dónaill / The Irish Times

Friday interview: Jane Howard, CEO, Ulster Bank: "We’ve got to find our unique place in the market so we can grow safely and susta(...)

More articles