Paddy Power-owner Flutter Entertainment stood out as a bright feature, gaining 3.6%  to €156

Iseq gives back fraction of month-long rally that has seen it creep into positive territory

Mr Doddrell has been appointed under the terms of the relationship framework between the Minister for Finance and the bank. Photograph: Alan Betson

Paul Doddrell operates consultancy business

Digicel: underlying earnings before interest, tax, depreciation and amortisation (ebitda) at the group fell 8 per cent to $229 million (€192 million) for the three months from the same period last year. Photograph: iStock

Covid crisis continues to weigh on telecoms group

The number of cars travelling on Irish Ferries services has dropped 67 per cent. Photograph: Niall Carson/PA Wire

Cars down 67%, offset partly by increase in lorries carrying goods

Tullow Oil  outlined plans to pursue an “innovative approach” to deliver oil from its Kenya prospects. Photograph: Reuters

Explorer’s new CEO seeks to convince investors it can manage $3 billion debt

 Albert Manifold, CRH chief executive. “We have capital. We want to do M&A.” Photograph: Cyril Byrne

Irish building materials giant prepares to take €674m impairment charge on mainly UK and Chinese assets

Irish food brand Cuisine de France is owned by Swiss-Irish listed group Aryzta. Photograph: Nick Bradshaw

Cobas says US hedge fund’s bid for group significantly undervalues

Liberty entered the Irish market in 2011 by taking over the main businesses of Quinn Insurance. Photograph: Alan Betson

Juan Miguel Estallo has worked for Liberty’s Spanish-based parent for the past 13 years

Frances Fitzgerald MEP asked the European Banking Authority to consider reintroducing regulatory flexibility for industry-wide payment breaks. Photograph: Brian Lawless/PA Wire

EBA says it must ensure the credibility of banks’ balance sheet data is not jeopardised

Ulster Bank holds about a 15% share of the Republic’s mortgage market, and is responsible for around 20% of small business lending. Photograph: Nick Bradshaw

NatWest is said to be actively considering winding down Irish unit

All non-essential retail outlets are currently  closed under Level 5 restrictions and pubs and restaurants can only offer takeaway services. Photograph: Gareth Chaney/Collins

More than 470 businesses in the ‘experience’ industry sign open letter to Taoiseach

There are three female CEOs on the Iseq 20:  Irish Residential Properties Reit chief  Margaret Sweeney, above,  Bank of Ireland’s Francesca McDonagh and  Glanbia head Siobhan Talbot. Photograph Nick Bradshaw/The Irish Times

Report highlights under-representation of women at top of corporate ladder

Conor O’Kelly, chief executive NTMA: ‘We’ve got to hit the road to keep bond investors informed – otherwise they’d forget about us.’ Photograph: Alan Betson/The Irish Times

Ireland should prepare for a recession or crisis every decade, says NTMA chief

Tullow has been loss-making for most of the past nine years. Photograph: Reuters

Plus, time to forget Goodbody’s €150m price tag

Aryzta’s brands include Otis Spunkmeyer, La Brea Bakery bread and Cuisine de France pastries. Photograph: iStock

News of approach came less than 24 hours after Kevin Toland quit as chief executive

Datalex chief executive Sean Corkery: the business has dramatically raised  its full-year earnings forecast. Photograph: Tom Honan

Troubled travel softare business trebles projections on full-year profits

Justin Bickle, former chief executive of Glenveagh Properties. File photograph: Dara Mac Dónaill/The Irish Times

Shane Scully exits housebuilding company and becomes Postbridge Capital partner

Goodbody Stockbroker boss Roy Barrett

Bank preferred bidder for brokerage it sold after taxpayer bailout

The company, led by Tony Smurfit,  has a number of large customers looking to convert from plastic to paper-based packaging. Photograph: Bloomberg

Cardboard box-maker poised to take advantage of shift to sustainable packaging

Digicel is offering to pay as much as $10 million to buy back some of the bonds for as little as 20 cent on the dollar. Photograph: iStock

Notes due to convert into Digicel stake in 2023

The NTMA last week completed its full-year effort to raise €24 billion in long-term debt. Photograph: iStock

Treasury Bills priced to carry minus 0.57% yield

Permanent TSB raised €125m selling the riskiest form of bank debt on the market on Wednesday. Photograph: Alan Betson

Lender benefits from lower interest rate as Covid-19 vaccine optimism lifts sentiment

Former Ulster Bank chairman Ruairí O’Flynn.

Chief executive says it has nothing to do with review being carried out by parent NatWest

Mowlam Healthcare is also one of Ireland’s leading providers of Memory Care, a specialist service for people living with dementia.

Transaction will see the care homes group’s controlling shareholders sell most of their stake

A Pfizer facility for storing its Covid-19 vaccine in Belgium. Photograph: Pfizer/AP

Market Watch: Pharma giant is spinning off a host of off-patent drugs, including Viagra

Pfizer expects to have 50m doses of its vaccine available by the year end and 1.2bn during 2021 – enough to inoculate only about 8% of the global population. File photograph: Getty

All eyes on how and when governments unwind extraordinary economic supports

The stage had been set for the company to focus on unit sales after takeover talks  broke down in late October. Photograph: Reuters

Baked goods group’s troubled North American unit likely to be high on list for disposal

Elke Koenig, chair of the EU’s Single Resolution Board, has said non-performing loans could start coming through next year as the effects of Covid-19 payment holidays and government supports wane. Photograph: Fredrik von Erichsen/AFP/Getty Images

Lenders advised to prepare for real impact of Covid-19 when payment breaks wear off

Anne Heraty who was born in 1960 to a family that ran a small pub, shop and farm in Ballinalee, Co Longford.  Photograph:  Conor McCabe

Recruitment firms’s position in multinational market pays off despite economic woe

Bank of Ireland chief executive Francesca McDonagh says the pandemic has taught businesses to adapt to unprecedented circumstances. Photograph: Joanne O’Brien

Francesca McDonagh expects pandemic to continue to affect economy into 2021

The level of jobs being eliminated at PTSB through a voluntary redundancy scheme equates to about 12.5% of its almost 2,400-strong workforce

AIB, Bank of Ireland, Ulster Bank and KBC Ireland also reducing numbers

While new car registrations for October increased  6.2%  on the year, registrations for the first 10 months were down 25.2%  at 86,870 vehicles.  Photograph: iStock

Irish company had forecast new car lending to rise 10% this year, but now expects 10% decline

Japan’s prime minister Yoshihide Suga: he  unveiled a major shift in the country position on climate change last month, announcing a  plan for carbon neutrality by 2050. Photograph: Kazuhiro Nogi/AFP via Getty Images

Mitsubishi Corporation acquired 60% stake in ElectroRoute in 2016 for an undisclosed sum

The auditing & accounting supervisory authority said it expects annual and future half-yearly reports from companies to provide greater disclosure on the impact of the coronavirus crisis. File photograph: Getty

Auditing & accounting supervisory authority notes ‘diversity of quality of reporting’

Daryl Byrne, chief executive at Euronext Dublin, which saw profits multiply last year. Photograph: Dara Mac Dónaill

Stock exchange is world leader for listing debt instruments but fees from shares fall

Big pay day: Anne Heraty established CPL in 1989, when she was aged 29. Photograph: Maxwells

Recruitment group’s founder CEO Anne Heraty and husband set for €110.9m pay day

‘We have more opportunities than we know what to do with,’ said chief executive Tony Smurfit. Photograph: iStock

Cardboard box-maker forecasts full-year earnings will decline as much as 11.5%

The four directors being targeted by Cobas and Lodbrok were part of a board that entered into talks in  September aimed at selling the business to US hedge fund Elliott Management.

Cobas, Lodbrook propose not to re-elect four members to board of Swiss-Irish food group

Permanent TSB said total new lending for the first nine months of the year was down 23 per cent at €900 million. Photograph: Alan Betson

Bank continues to monitor impact of Covid-19 on borrowers

The figures are likely to fuel criticism that insurers have been seeking to make up for years of heavy motor losses around the middle of the last decade by making above-average profits in recent times. File photograph: Getty

Cost of insurance claims fell to 59% of motor premiums in 2019 from 92% peak in 2014

The Private Motor Insurance Report said that on average Irish motor insurance premiums had dropped by 9 per cent from the middle of 2018 following a 66 per cent surge over the previous five years. File photograph: Getty

Motor insurance premiums fell 9% last year from mid-2018 after 66% surge over five years

During 2020 AIB launched a €300 million social housing fund to deliver 2,000 sustainable A-rated homes

Bank to lend for renewable energy projects, energy-efficient homes and electric vehicles

Households who received loans during the boom years between 2004 and 2008 accounted for 53%  of all mortgage payment holidays, by far the highest grouping. Photograph: iStock

Mortgage holders in Ireland repay €80,500 more than the EU average on a €300,000 mortgage over 30 years

The defunct Irish Nationwide Building Society, as it previously appeared on Dublin’s Grafton Street.

Public hearings into defunct lender resume after Covid-19 delay

Ulster Bank branch. File photo. Photograph: Brian Lawless/PA Wire

Alison Rose reiterates bank is continuing to review the strategy of its Irish arm

AIB extended 66,000 payment breaks to households and small businesses in its Irish retail banking divisions between March and September, with 74% of these having since come off the relief measures

Bank is preparing plans for ‘future shape’ of business by year-end

AIB told investors in €750 million of junior bonds in the bank that it plans to buy back the notes at the first opportunity next month. Photograph: Paul McErlane/Reuters

Lender moves to buy back notes carrying 4.13% interest at first possible opportunity

Grafton Street: Vacancy rates before the latest restrictions came in were running at 10 per cent on both Grafton Street and Henry Street,” according to  Richard Guiney,  of business lobby group Dublin Town. Photograph: Dara Mac Donaill

Covid-19 has decimated retail trading in the city centre

The bank received more than 2,000 applications last month for its redundancy scheme

Customers on payment breaks drop to 20% of original 106,000 payment holidays granted

MEP Frances Fitzgerald: “Banks must be accommodative and proactive to people’s needs and ability to make repayments.” Photograph: Brian Lawless/PA

Further economic decline due to Covid-19 could warrant loan flexibility, ECB says

Dalata owns, operates or leases 44 hotels in Ireland and Britain under the Maldron and Clayton brands. Photograph: iStock

Holding is worth €54m based on current market prices

The group was reported to be preparing the ground for the sale of its Philippines cement unit for as much as $3 billion. Photograph: Brenda Fitzsimons

Irish building materials giant is reducing its footprint in emerging markets, says analyst

PTSB will receive the €1.2 billion net value of the portfolio. Photograph: Alan Betson

Buyer of the mortgages, Citigroup, will refinance the buy-to-let loans on bond market

MMFs are mutual funds where banks, companies and governments can place money in the short term to get marginally higher income than putting cash on deposit in banks. Photograph: iStock

Investors withdrew 10% of €574bn of assets at height of Covid-19 global financial shock

Aryzta posted a €1.09bn  net loss for its financial year through July. Photograph: iStock

Company says discussions with Elliott Advisors have concluded without binding offer

The Irish Glass Bottle site at Ringsend. Photograph: Cyril Byrne

Underbidders had contacted Nama in September to express continued interest in site

Shares in Barclays  jumping 7 per cent as its consumer businesses swung back to profit and provisions against bad loans fell in the third quarter. Photograph: EPA

European markets still post biggest weekly drop in a month

Ardagh has already pre-sold all the cans it can make this year and next. Photograph: iStock

Market Beat: Containers giant investing $1.8bn on building out can-making facilities

Ardagh makes drink containers for brands ranging from Budweiser beer to Coca-Cola. Photograph: iStock

Glass and metal containers giant expanding drink cans business

JP Morgan Bank (Ireland) provides fund accounting, shareholder services, trustee services and global custody services to international clients. Photograph: iStock

Average assets under custody rise 11% to $344.6bn and asset-based fees rise to $44.2m

Minister for Finance  Paschal Donohoe: reiterated that a digital tax agreement will have a negative effect on Irish tax revenues. Photograph: Gareth Chaney/Collins

Meaningful talks impossible until after the US elections next month

“The latest restrictions announced by the Government on Monday evening clearly have negative implications for individuals, households and businesses,” Mr Makhlouf told the Oireachtas finance committee on Wednesday.

Makhlouf warns that decline will be greater than 7% forecast

The Central Bank has previously said that it has been in regular contact with An Garda Síochána and other authorities throughout its wider examination of the tracker issue. Photograph: iStock

Regulator obliged to report potential criminal activity if it comes across it

ECB headquarters in Frankfurt, Germany. Deutsche Bank says capital reserves rules are “hampering” the flow of low ECB rates to Irish borrowers. Photograph: Kai Pfaffenbach/Reuters

‘Unfairly high’ capital reserve levels to blame for higher interest rates on loans, say analysts

Tullow Oil’s Ngamia 8 drilling site in Lokichar, Turkana County, Kenya. Photograph: Baz Ratner/File Photo/Reuters

Sale of Tullow’s stake in the project is a crucial part of its debt-reduction strategy

Ulster Bank parent NatWest is actively considering winding down the business as part of a strategic review.  Photograph: Sasko Lazarov/

Virtual meeting with Paschal Donohoe as bank considers wind-down

Aryzta owns the Cuisine de France brand in Ireland and supplies internationally to the likes of McDonal’s, Subway and Lidl.

Baking company has been approached by almost 20 parties interested in business

Ulster Bank has about 2,800 employees in Ireland

Parent company NatWest is considering winding business down

Brian Hayes of the Banking and Payments Federation: ‘A wide range of solutions are being made available by lenders at this time and are being worked through with borrowers.’ Photograph: Alan Betson / The Irish Times

Struggling borrowers should be offered payment breaks on case-by-case basis

KBC said last month it was closing hubs in Dundrum in Dublin, Greystones in Co Wicklow and Naas in Co Kildare

Union sought intervention as it failed in trying to get bank to engage with it

Fernando Vicario: he has worked for Bank of America  for the past 25 years

Fernando Vicario will move to Dublin and also become chief country officer for Ireland

The Central Bank has issued letters to the chairmen of Irish-based FMCs, asking them to review specific shortcomings identified and take immediate action.

Regulator is demanding immediate action

Tom O’Mahony, former chief executive of Origin Enterprises. Mr O’Mahony was succeeded as CEO by Sean Coyle, who joined the group two years ago as chief financial officer, having previously worked with UDG Healthcare, Aer Lingus and Ryanair

Pay package fell to €526,000 in final 11 months with business

Borrowers facing fresh financial problems as the Government tightens Covid-19 restrictions are being urged to contact their lenders.

Lenders no longer offering general payment breaks but treating customers on case-by-case basis

Few market trades have benefitted from Democratic nominee Joe Biden’s widening lead in the US presidential election polls as green-energy stocks.

ESG investing has grown from a niche area to a $30tn market since financial crisis

Ulster Bank has been allowed by the Central Bank to return €3.5bn  of surplus capital to RBS over the past four years, the equivalent of about a fifth of its parental bailout bill during the financial crisis.  Photograph: Nick Bradshaw

Lender’s UK parent NatWest said to be actively considering exiting the market

Liberty Mutual executive Tom McIlduff has been poached by the new US owners of AA Ireland to take over as chief executive of the roadside and assistance and insurance intermediary. File photograph: Gareth Chaney Collins

Current AA Ireland chief executive Brendan Nevin will remain at the helm for a transition period

‘Ulster Bank has a long association with its customers and communities across Ireland and plays a key role in personal, business, and digital banking,’ said FSU general secretary John O’Connell. Photograph:  Nick Bradshaw/The Irish Times

Wind-down of the business being considered as part of a strategic review

Debt ratings agency DBRS Morningstar surveyed payment breaks granted in 11 European countries. Photograph: iStock

Over 13% of Irish loans to households and businesses were subject to payment freezes

In relation to the number of social homes that would be built this year, the Minister  said the figure would be “around 7,000 or so”.

First homes under scheme to be available for purchase next year, says Minister

James Freis was hired by crisis-hit Wirecard in May  to become the German payments group’s chief compliance officer. Photograph: iStock

Former US official who took over at e-payments giant urges businesses to be open

Mainstream last year sold a Scottish offshore wind farm  to French utilities giant EDF in a deal worth  €650m. Photograph: Dara Mac Donaill

Power company has hired investment bank Rothschild to find equity partner to help finance the development of its projects

Bank of Ireland shares fell 4.5 per cent to €1.82. Photograph: Carl de Souza/AFP/Getty Images

Johnson & Johnson down as vaccine trials paused due to illness in one participant

FBD has been engaging with the Central Bank ‘on a range of matters’, it said on Tuesday. Photograph: Dave Meehan/The Irish Times

Insurer currently in legal battle with group of pubs over business interruption claims

Minister for Finance Paschal Donohoe at Government Buildings in Dublin ahead of announcing the budget. Photograph: Julien Behal Photography/PA

Budget 2021: Sector needs a range of supports to recover from pandemic hit, says Paschal Donohoe

Poseida, in which Malin holds a 15% stake, plunged in August after a safety trial for one of its early-stage pipeline products, a prostate cancer drug, was  halted following a patient death. Photograph: Joe Raedle/Getty

Cash return by Dublin-listed life sciences investment firm eclipses current market value

Former Irish Stock Exchange chief executive Deirdre Somers. Photograph: Aidan Crawley

Somers led the Irish Stock Exchange between 2007 and 2018, when she completed the sale of the business to Euronext

Michael Bloomberg; and Sean Crowe,  Jennifer Howett and Francesca McDonagh of Bank of Ireland Group. Photograph: Naoise Culhane

Crowe (53) joined Bank of Ireland in 1993 as a financial markets trader

AIB has already been charging negative rates to many businesses with over €3 million on deposit. Photograph: Aidan Crawley/Bloomberg

Wealthy individuals also to be charged for privilege of saving with bank for first time

The New York-listed group has become the third major opioid maker to seek court protection from its creditors. Photograph: iStock

Lawsuits in US claim company profited from country’s opioid epidemic

The Irish Council for Civil Liberties has written to the European Commission urging it to limit transfers of data from the EU to the UK after Brexit.

UK lacks effective authority to enforce compliance with data protection law, ICCL says

The Construction Industry Federation says it has worked to promote new safety guidelines through new operating procedures. Photograph: Brian Lawless/PA Wire

Shutting industry would hit delivery of housing and infrastructure, lobby group claims

AIB office space in Dublin will be considered as part of any cost cutting measures

Bank reconsidering office spaces in Dublin in addition to 1,500 job cuts

The Central Bank set up the inquiry into the actions of five former INBS executives and directors, including its long-standing managing director Michael Fingleton. Photograph: Alan Betson / The Irish Times

Evidence dealing with ‘confidential borrower information’ will be heard in private session

The construction industry fears activity will be hit again if the Government  introduces tighter pandemic controls in the coming months.

150,000 construction workers are operating on 1,100 sites, according to the CIF

Mulligans pub on Poolbeg Street, like all other pubs that don’t serve food, has remained closed since March. Photograph: Laura Hutton / The Irish Times

One-fifth of pubs paying out up to €2,000 to keep businesses going while closed

Aryzta  CEO Gary McGann speaks during the company’s annual shareholder meeting in 2018.  File photo: Reuters/Arnd Wiegmann

Centre of power of beseiged Swiss-Irish bread-maker shifted from Dublin to Zurich

People queue outside an AIB Bank in Dublin city centre. Executives at the bank have been encouraged by the number of households who are now back on their feet financially following the Covid hit to the economy. Photograph: REUTERS/Jason Cairnduff

Agenda: ‘Unemployment is a lagging indicator in any recession because businesses will hang on for as long as they can before faili(...)

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