Former minister Ruairí  Quinn, Prof Patrick Honohan and Minister for Finance Paschal Donohue at the launch of Mr Honohan’s new book. Photograph: James Forde/The Irish Times

Heads of bill delayed by almost three months as Brexit topped political agenda

Uniphar’s Ger Rabbette: he said the group had “transformed” over the past five years. Photograph: Dara Mac Dónaill

Irish pharmaceuticals wholesaler and healthcare services group aims to raise €150m

An aerial view of the Drumcondra portfolio.

Industry sources suggest at least four bidders have made the shortlist for prime site in central Dublin

Patrick Quirke, who was convicted of the murder of his love rival, DJ Bobby Ryan. He told gardaí during the investigation that Mary Lowry, the object of both men’s affections, had given him €80,000 to invest in contracts for difference (CFDs). Photograph: Collins Courts

Market Watch: the power of leverage can be a destructive force when a bet goes awry

Former Ulster Bank’s CEO Jim Brown left Ulster Bank in April 2015 to take over as chief executive of the UK banking giant’s Williams & Glyn unit

Lender was established two decades ago before the retailer took full ownership in 2014

Some 45 per cent of Irish owner-occupiers mortgages that were in arrears at the end of March are more than two years behind in repayments

Of the borrowers with restructured loans, 14% have breached their new terms

The Republic’s debt management agency sold the bonds at a price that will yield investors an annual interest rate of 0.297 per cent.

Borrowing costs on the international markets have come down sharply so far this year

Ires Reit, led by chief executive Margaret Sweeney (right), says it has exercised an option to extend committed credit facilities from banks to €600m from €450m

State’s largest residential landlord has also exercised an option to extend committed credit facilities to €600m

Fyffes will not appeal a decision by the UK’s Ethical Trading Initiative at the end of March to expel it as a member following a dispute over workers’ rights at its Honduras melon farming business. File photograph: Bloomberg

Funds used to clear borrowings from the Sumitomo group in a debt-for-equity swap

Banking shares were out of sorts, with Bank of Ireland down 1.9%, Permanent TSB off 1.6% and AIB slipping 0.7%

Iseq drops 1.5% as CRH pulls back in line with a broad sell-off by European and US peers

Gabriel Makhlouf: Joan Burton called for the process of appointing Mr Makhlouf as governor of the Cental Bank to be paused because of controversy engulfing him in his native New Zealand, where he is head of the treasury.

Gabriel Makhlouf due to take up post in September

Binary options ‘are no more an investment than betting on a horse’, according to Derville Rowland, director general for financial conduct at the Central Bank.

Regulator bans binary options which it likens to betting on a horse race

From September 14th, consumers will have to approve online payments for amounts above €30 through a second level of authorisation. Photograph: Jaap Arriens/NurPhoto via Getty Images

Transaction regulation will ‘tilt playing field in favour of big companies’, Stripe says

Venn Life Sciences unveiled full-year results for 2018 on Tuesday, which showed the company’s sales dropped to €14.3 million from €17.8 million for the previous year.

Combined group to fall under Open Orphan name

Sinn Féin finance spokesman Pearse Doherty TD has said that the final legislation, if enacted, would exclude loans that are securitised or put up for refinancing through the sale of asset-backed securities (ABS).

Bill would require lenders to get borrowers’ consent to sell on their loans,

Smurfit Kappa Group chief executive Tony Smurfit (left) and Liam O’Mahony chairman pictured at the company AGM in Dublin last year. Photgraph: Aidan Crawley

Packaging giant mops up most of remaining shares in in Carton de Colombia

Central Bank of Ireland building. When IBRC was put into liquidation 2013, the State handed over government bonds to the Central Bank to replace the emergency loans. Photograph: Alan Betson

A little-known note in the NTMA’s recent annual report includes an interesting discloure

AIB chief executive Colin Hunt: “We’re making AIB, at its core, a sustainable, responsible lender for a sustainable, responsible Ireland.” Photograph: Shane O’Neill

Bank also plans to offer additional discounts for financing of purchase of electric vehicles

Kevin Lunney and Liam McCaffrey.  Photograph: Dara Mac Dónaill

Kevin Lunney named as being party to board meeting that would commit to guarantees

Section 172 (3) of the Nama Act 2009 prohibits the agency from selling loans or property to a defaulting borrower, or connected parties

PAC wants agency to ensure defaulting debtors aren't buying assets, which is against rules

Former Quinn Group executive Kevin Lunney and former CEO Liam McCaffrey, leaving the Central Bank’s inquiry into Quinn Insurance, in Blackhall Place, Dublin. Photograph: Dara Mac Dónaill

Liam McCaffrey says he did not appreciate how guarantees would affect financial position

 Kevin Lunney and Liam McCaffrey. (right) leaving the Central Bank’s inquiry into Quinn Insurance, in Blackhall Place, Dublin.  Photograph: Dara Mac Dónaill

A&L Goodbody ‘quarterbacked’ process that raised €1.2bn in debt

Neil Woodford CBE, the  British fund manager and the founding partner of Woodford Investment Management. Photograph: Richard Cannon

Legendary fund manager Neil Woodford blocks investors withdrawing their money

cash

Nama paid five lenders €32bn for €74bn of toxic loans between 2010 and 2011

The Central Bank found cases where firms had suspended or dismissed individuals for wrongdoing but had failed to report the issue to the regulator, as required. Photograph: Alan Betson

Level of withdrawn applications last year up from eight cases in 2017 and five in 2016

Mozambique: the financially-embattled African nation has suffered catastrophic damage as a result of cyclones this year. Photograph: Tiago Petinga/EPA

Financially-embattled African nation first reneged on the bonds’ terms in January 2017

BoyleSports is seeking to take advantage of the upheaval in the high-street bookmaker as a result of curbs on fixed-odds betting terminals. Photograph: Ryan Byrne/Inpho

Seen & Heard: Eir takes €80m charge; Millar still on course for IPO; Google and unions

On Friday, three-month US treasury bills were yielding 2.3 per cent on Wall Street, while 10-year notes were priced at 2.16 per cent – the weakest reading since 2007, before the financial crash. Photograph: Justin Lane/EPA

Central Bank on mission to teach banks lesson over tracker mortgage scandal

A stock photo of euro bank notes.

Department of Finance has launched a consultation on whether a limit should be put on rates charged by licensed moneylenders, whic(...)

Kevin Lunney and Liam McCaffrey  (right) leaving the public  inquiry into Quinn Insurance’s collapse at Blackhall Place in Dublin on Tuesday. Photograph: Dara Mac Dónaill/The Irish Times

Nine years after insurer’s collapse, two of its former directors are focus of public inquiry

John Hourican, CEO of Bank of Cyprus, photographed in Dublin. Photograph: Dave Meehan/The Irish Times

Interview: John Hourican on stepping down as Bank of Cyprus CEO to move closer to home

PTSB admitted 42 separate breaches of banking codes of practice, covering mortgages between the years 2004 and 2018. Photograph: Alan Betson / The Irish Times

Central Bank fines PTSB €21m for the ‘unacceptable harm’ it caused customers

QIL was placed into administration at the end of March 2010 on foot of the Central Bank securing a High Court order. The business was subsequently taken over a year later by Boston-based insurer Liberty Mutual Group

Jim Quigley shocked to learn in March 2010 that some Quinn subsidiaries had entered agreements that ‘eliminated the value’ of much(...)

Kevin Lunney, one-time director of Quinn Insurance Limited,  and Liam McCaffrey, former chief executive of Quinn Group. Photograph: Dara MacDónaill

Quinn Insurance Limited subsidiaries guaranteed €1.2 billion of loans to Quinn Group

QIL, set up in 1996 by businessman Seán Quinn, fell into administration in early 2010

Guarantees used to access funding weakened the quality of the reserves of QIL

Philip Lane: he takes on his new role at a time when the prospect of raising the ECB’s main rate has been pushed out to at least next year

Central Bank governor will join the organisation’s executive board at the weekend

 Justin Bickle, Glenveagh Properties chief executive, John Mulcahy executive chairman, and Stephen Garvey chief operating officer. Photograph: Dara Mac Dónaill

Glass Lewis maintain so-called founder shares scheme ‘appears excessive’

Waterford-based businessman Eddie Walsh: STS Group mainly engages in  catering, security, cleaning and other facilities management services in central Europe.

Berlin-based firm started in 2012 and makes €150m in sales a year

At the signing of the deal to acquire STS were (from left): Stephan Possekel, managing director DTS; Catherine von Fürstenberg-Dussmann, chairman of the board of trustees of the Dussmann Group; Dr Wolfgang Häfele, executive board spokesman, Eddie Walsh, chairman STS Group and Richard Hogan, managing director STS Group

STS executive team will remain with business following transfer of ownership[

 Strategic Banking Corporation of Ireland chief executive Nick Ashmore. Photograph: Dave Meehan

SMEs slow to commit to fresh borrowings when they do not know what to prepare for

Investors breathed a sigh of relief after US president Donald Trump indicated that the protracted trade war with China could end soon. Photograph: Getty Images

Markets report: Investors relieved as Trump indicates China trade war could end soon

Tony Smurfit, CEO Smurfit Kappa Group Plc. Photograph: Luke MacGregor/Bloomberg via Getty

Sentiment towards global paper packaging sector has soured in the past year

The One Molesworth Street site – the building has since been partly let to British Bank Barclays and Canadian investment bank TD Securities. Photograph: Cyril Byrne

Shortlist of suitors to be drawn up after initial proposals have been assessed

The cost of liquidating the remnants of Anglo Irish Bank and Irish Nationwide Building Society came to €10.8 million last year. Photograph: Bryan O’Brien

Liquidation costs reach €250 million

AIB was in demand, rising 2.5 per cent at €4.07, as details of a planned €1 billion non-performing loan portfolio sale emerged.

Markets report: CRH, Smurfit and AIB gain as Bank of Ireland and PTSB lose ground

KBC chief executive Peter Roebben said he supports mortgage-lending restrictions introduced by the Central Bank in 2015.

Peter Roebben tells Oireachtas committee affordability a problem for many borrowers

QIL was set up in 1996 by businessman Seán Quinn and went into administration in early 2010. Photograph : Matt Kavanagh

Public hearings to continue until June 7th, according to Central Bank

Mainstream Renewable chief executive Andy Kinsella: ‘We are ready to embark on a significant expansion of our core Asia Pacific, Latin America and African markets.’

Mainstream has raised over €1.8bn in project finance and employs 200 staff in four continents

Greencore chief executive Patrick Coveney. Photograph: Dara Mac Donaill

UK’s biggest sandwich maker seeks to remain relevant as chief Coveney outlines plans

KBC Bank Ireland paid €183m back by way of a dividend to its Brussels-based parent last year. That is in addition to an initial €227m  handed over in 2017

Irish division released €12m of loan-loss provisions in first-quarter due to rising house prices and improvement in the quality of(...)

Kerry-based financial services company Fexco bought 75 per cent of Goodbody eight years ago from AIB in a deal worth €24 million. Photograph: iStock

Stockbroking firm called off sale to Chinese consortium earlier this year

On Tuesday,  Vodafone’s chief executive, Nick Read, said the board had “made the decision, not taken lightly, to rebase” – a market euphemism for slash – its dividend

Market Beat: stock is the most widely held in the State

KBC’s Irish unit contributed €14 million of net income to the group for the period, down from €57 million a year earlier.

Irish division of Belgian bank released €12m of loan-loss provisions

HSBC Ireland said the loan was Ireland’s first green loan principles-compliant facility. Photograph: Tolga Akmen/AFP/Getty Images

Loan to help fund construction of three offices in Dublin Landings project in docklands

Aidan Brogan quit as Datalex chief executive two weeks ago.

Discussions reached advanced stage but no formal offer was tabled, sources say

Chief executive Peter Jackson said that it had become important that the group chose a name that was reflective of its stable of brands and not one or two of its businesses. Photograph: PA Wire

Group has recorded ‘excellent’ growth in both Australia and US

Margrethe Vestager’s  team are clearly convinced there’s a case to be answered. Photograph: Dara Mac Dónaill

Noise around Vestager’s Insurance Ireland investigation takes focus off need for reform

Bob Dorrance,  chief executive  of TD Securities: ‘We took a view that we couldn’t afford to wait around to see how Brexit turned out’

Fnancial services group plans to have 80 employees in its new EU debt hub in Dublin

Insurance Ireland chief executive Kevin Thompson, who told The Irish Times that access to Insurance Link was not exclusively available through or dependent upon membership of the industry body. Photograph: Eric Luke

CCPC is investigating whether motor insurers and brokers engaged in anti-competitive practices

Motor insurance premiums soared more than 70 per cent over three years before they peaked in 2016, a period when the industry was largely loss-making in the Republic. Photograph: Dave Meehan/The Irish Times

Watchdog in ‘latter stages’ of inquiry into anti-competitive practices

Bank of Ireland chief executive Francesca McDonagh and chairman Patrick Kennedy at the bank’s agm in the RDS. Photograph: Laura Hutton

Patrick Kennedy reaffirms bank’s commitment to reducing non-performing loans

John B McGuckian has served as ICG chairman for the past 15 years and been on the board for more than three decades.

Shareholders’ adviser presses ferry operator to replace long-serving John B McGuckian

Shares of Uber Technologies dropped 9 per cent, more than doubling their losses since the ride-hailing giant’s poorly received Wall Street debut on Friday. Photograph: Josh Edelson/AFP/Getty Images

Vodafone slides as Iseq index falls 1.5%, with industrial heavyweights hardest hit

Kymab’s main product is a potential treatment for eczema that is going through clinical trials. Photograph: iStock

Biopharmaceutical company Kymab identified as one of Malin’s four ‘core assets’

Abbey posted €58.5 million of operation profit in the year to April 2018 on turnover of €218.5 million. Photograph: Alan Betson

Company says it has completed 579 house sales – down from previous year’s 606

The liquidators conceded that a small group of Anglo Irish Bank junior bondholders will recover the €270 million they are owed. Photograph: Matt Kavanagh

Figure is contained in answer given this week by Paschal Donohoe to Sinn Féin’s Pearse Doherty

Brewin Dolphin chief executive David Nicol said the deal would allow it to “substantially” strengthen its presence in the Republic.

Investec injects €40 million into remaining Irish business

Warren Buffet: ‘I probably know as many rich people as just about anybody. I don’t think they’re happier because they get super rich.’ Photograph: Houston Cofield/Bloomberg

Market Beat: Investment guru’s wisdom includes regret at not buying Alphabet shares

Sharon Donnery will hold the interim governor role until September.

She takes the role pending the arrival of incoming governor Gabriel Makhlouf

Mediahuis has taken steps to ensure its takeover of INM will go through by mopping up a 29.9 per cent stake. Photograph: Dara Mac Dónaill

One Boston-based hedge fund has built up a 2.75% interest in the media group

Ian Curley is a veteran of both Ardagh and Smurfit Kappa. Photograph: Dara Mac Dónaill

Business veteran has overseen review of investment group’s portfolio

Ulster Bank has trailed other mortgage lenders in terms of paying redress and compensation

RBS-owned lender reiterates plans to sell another portfolio of problem loans this year

The NTMA has so far raised about €9.55bn  through the sale of long-term bonds this year.  Photograph: iStock

Total orders for bonds due in 2050 reach €18bn

Permanent TSB  mortgage lending grew by 19 per cent in the first three months of the year. Photograph: Alan Betson

Bank now has 15.1% share of new mortgage market, thanks partly to its cashback offer

Sylvia Cronin , the Central Bank’s head of insurance, is understood to currently have no firm plans, but is expected to return to the private sector. Photograph: Alan Betson

Sylvia Cronin opts not to renew five-year contract

Euroclear said Irish authorities are “actively considering” the legal proposals that it has made.

New legislation ‘least risky option’, says financial services company Euroclear

Ed Sibley said insurance executives must do more work to develop recovery or wind-up plans in the event that their companies run into financial trouble. Photograph: iStock

Deputy governor calls on brokers and agents to take more responsibility

Mick Sweeney, centre, who is to lead PineBridge Investments’ Irish business. Mr Sweeney left Bank of Ireland in late 2017

Sweeney will work to drive new business and develop relationships with Ireland-based clients

Kerry Group added 1.5% to €102 as industry followers cheered better-than-expected six-month figures and an upbeat outlook Dutch nutrition group DSM

Dalata and Ryanair both lost ground, while Irish banking stocks were in favour

Thomas Leysen, chairman of media company Mediahuis.

Belgo-Dutch newspaper group bought out chairman’s personal stake

The redesigned Lord Mayor’s Lounge in the Shelbourne Hotel, Dublin. Photograph: Dara MacDónaill

Major work now completed at five-star hotel

NTMA chief executive Conor O’Kelly. Photograph: Sara Freund

State agency has given six financial institutions mandates to manage the transaction

Dermot Desmond:  The billionaire has given Datalex   €10m lifeline in the past few months. Photograph: Cyril Byrne

Beleaguered travel software company saw its shares suspended this week over filing issues

Group previously outlined that it would double its workforce in Dublin to 300 this year. Photograph: Dado Ruvic/File Photo/Reuters

Irish unit being built up to become the British banking giant’s hub in the EU

Mediahuis CEO  Gert Ysebaert  and Thomas Leysen, its chairman,  in Dublin this week. Photograph; Nick Bradshaw

Belgian company bought newspaper group for little more than price of a long-range private jet

Aidan Brogan has quit Datalex. Photograph: Cyril Byrne

Travel software company has been hit by accounting irregularities

Gabriel Makhlouf: in June 2000 he published an OECD report accusing 19 organisation members, including Ireland, of operating potentially harmful tax regimes

Gabriel Makhlouf is approved by Cabinet as the first non-Irish national to lead the Central Bank in its 76-year history

Gabriel Makhlouf is a former top UK civil servant.

A number of domestic candidates had sought position

Both AIB and its EBS subsidiary are among six lenders that are in the middle of Central Bank enforcement investigations that will lead to likely fines. Photograph: Cathal McNaughton/Reuters

Bank has set aside €265m to cover tracker refunds, compensation and other costs

Callaun Capital co-founders (from left) head of portfolio management Noel Ross; head of origination Daire McCarthy and chief executive Stephen Bell. Photograph: Chris Bellew/Fennells

Development projects funded by finance provider include nursing homes and housing

Independent House newspaper offices on Talbot Street,  Dublin. Photograph: Leah Farrell/RollingNews

Denis O’Brien expected to see loss of hundreds of millions of euro from sale

Gert Ysebaert, CEO  (l) and Thomas Leysen, chairman, Mediahuis. Photograph: Nick Bradshaw

Data breach scandal ‘factored fully into our decision making’ says Mediahuis

Independent News and Media has been sold to Mediahuis. Photograph: THE IRISH TIMES

Shareholders at agm say deal is ‘buttons’ as board criticised

Citibank Europe’s assets effectively doubled in size to about $50 billion at the start of 2016 when the group’s United Kingdom-based Citibank International unit was folded into the Dublin operation

Citibank Europe’s profit after tax rose to $879m last year from $600m in 2017

The fine comes five years after the Central Bank imposed a €650,000 monetary penalty on Bank of Montreal Ireland for various regulatory breaches.

Canadian-owned lender failed to submit three important reports to supervisors

Advisory firm criticises pension, share bonus and severance arrangements at the company

Every domestic electricity meter in Ireland is set to be replaced by a smart meter by the end of 2020, according to ESB Networks.  Photograph: Eric Luke

While big companies can take advantage of market fluctuations and get negatively-priced energy, this is not an option for househol(...)

Henry Street, Dublin.  The Bank of Ireland survey found that almost one in 10 households are likely to buy or build a property in the next 12 months, while just under two in five firms expect to increase basic pay over the same period.

‘Irish households and businesses shaken but not overly stirred,” says Bank of Ireland chief economist

The  value of venture capital deals fell  sharply compared with both the same period last year and the last quarter of 2018, according to KPMG.

Galway-based medtech company Atlantic Therapeutics secure a $32 million fundraising

Nursing home group Brindley Healthcare has added to its portfolio with the purchase of a nursing home in Co Kildare. Photograph: John Stillwell/PA

Brindley Healthcare purchases Maynooth Lodge Nursing Home for over €10m

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