At the Banking & Payments Federation Ireland conference, from left: Bank of Ireland chairman, Patrick Kennedy; AIB chairman, Richard Pym and broadcaster, Vincent Wall.

Richard Pym says ban on bonuses makes it ‘very difficult’ for Irish-owned banks

JP McManus, Dermot Desmond and John Magnier: trio are major shareholders in Barchester Healthcare, which was put up for sale earlier this year. Photograph: Eric Luke

Barchester Healthcare is attracting range of indicative bids

Traders work on the floor of the New York Stock Exchange. US shares were lower in mid-afternoon trading in all-round choppy session on Wednesday. Photograph:  Brendan McDermid/Reuters

Irish shares drop 1.2% with C&C leading larger companies in Dublin lower

XL Group first said 13 months ago that it planned to transfer its main European insurance company to Dublin. Photograph: Alan Betson

XL plans to transfer its main European insurance company to the Republic

The shortfall for the euro zone’s 35 biggest and most complex banking groups stood at €125 billion last year. Photograph: Francois Lenoir/Reuters

Multibillion-euro bank backstop and deposit insurance scheme still outstanding

Ted Webb, managing director and Tom Godfrey, chief executive of IBI Corporate Finance, which has been involved in more Irish deals than any other adviser in the past decade

Adviser says new wave of providers of debt and equity finance gives buyers more options and greater flexibility

Ulster Bank: a scandal around its tracker loans  fuelled the move to establish an Irish Banking Culture Board. Photograph: Tom Honan

Financial Services Union calls for other stakeholders to help bank behaviour change

“The Fed is going loco,” Donald Trump bellowed, using the Spanish word for “crazy”. “They’re raising interest rates and it’s ridiculous.”

Irish IPOs face a strong headwind

Permanent TSB chief Jeremy Masding: “Our NPLs ratio is really, really dangerous”.

Bank plans to shift €1.5bn of restructured NPLs off balance sheet within 3-6 months

Shares in the owner of the Cuisine de France brand in Ireland have slumped by as much as 87 per cent in the past three and a half years

Baked goods group’s largest shareholder says scale of the equity raise is ‘excessive’

Siobhan Talbot, group managing director of Glanbia, said the deal complemented Glanbia’s existing portfolio. Photograph: Aidan Crawley/Bloomberg

Deal will see global nutrition company increase its exposure to lifestyle consumers

The Square Tallaght: the southwest Dublin shopping destination sits on 27 acres and extends to 580,000sq ft.

Move allows Sigma focus on boosting value of the portfolio, including extensions to The Square Tallaght

The transaction brings the NTMA’s long-term fundraising so far this year to €16.5 billion. Photograph: iStock

Irish brokers left out of the deal as foreign banks share €6m commission on €3bn bonds

 Minister for Finance Paschal Donohoe in advance of delivering Budget 2019, at Government Buildings. Photograph: Dara Mac Dónaill/The Irish Times

Department of Finance report says funds from ISIF may be better used on capital spending

 Paschal Donohoe, Minister for Finance, prior to announcing Budget 2019

Budget 2019 framed as first line of defence against Brexit

International green bond issuance has topped $100 billion (€87.2bn) so far this year

Green bonds are aimed at funding projects that promote climate change mitigation

“While the United Kingdom’s vote to leave the European Union creates uncertainty given its close trade links with Ireland, Moody’s expects the impact on Irish banks to be contained”

Ratings agency forecasts Irish economic growth moderating to 5% this year and 3.5% in 2019

Traders working on the floor of the New York Stock Exchange.   Photograph: Michael Nagle/Bloomberg

Iseq fell 1% to 6,388.99 while pan-European Stoxx index at lowest close in six months

Citibank Europe became US banking giant Citigroup’s main banking entity in the European Union in early 2016, after the activities of its Citibank International unit in the UK were folded into the Dublin-based business.

‘Serious’ errors in reporting of loans to bank affiliates

BoSI, best known for introducing ECB tracker mortgages to the Irish market in 2001. Photograph:  Dominic Lipinski/PA Wire

Barclays repackages €3.46bn of Irish loans as figures show 56% are interest-only

Fiona Muldoon, CEO at FBD. Photograph: Alan Betson

Turnaround at insurer saw stock surge 25% past year under Muldoon’s leadership

More than €2.5 trillion of global fund assets are domiciled in Ireland in an industry that employs about 14,000 people

Regulator has received more than 100 Brexit-related applications for authorisation

 Paschal Donohoe:  The Minister ‘may be mindful that stamp duty receipts of €939 million for the first nine months to September 2018 are up by 29.4 per cent on the same period last year, but 9.7 per cent below target’. Photograph: Conor McCabe Photography

Minister for Finance may be eyeing up stamp duty hikes in lucrative private rental sector

PTSB agreed in July to sell €2.1 billion of non-performing loans. Photograph: Alan Betson

Ratings agency expects bank’s asset quality to improve

The  bonuses foreseen by Philip Lane would fall if a lender’s profits declined. Photograph: Bloomberg

Philip Lane warns Brexit forecasts ‘understate’ likely market turmoil impact

Photographer: Frantzesco Kangaris/Bloomberg

Merrion Capital says Bank of Ireland’s shares now undervalued

Natrium, led by businesswoman Deirdre Foley, bought the department store for €29 million in June 2015 under controversial circumstances. Photograph: Dara Mac Dónaill

McKillen’s Press-Up Entertainment group mothballs €60m stock market flotation plan

Ed Sibley: “Trust in the financial services system is an endangered commodity”.  Photograph: Nick Bradshaw

Ed Sibley says sector can expect regulator to focus on firms’ ‘resilience capabilities’

 Minister for Finance Paschal Donohoe, who decided last April to hire outside consultants to report back to him by the end of the year on compensation in the banking sector.

Performance-related pay is still banned across rescued Irish banking sector

Businessman Bill Cullen launched a multimillion-euro legal action earlier this year against Ulster Bank and the receivers of his Glencullen Group, alleging that the bank and its GRG unit targeted his business. Photograph: Eric Luke/The Irish Times

Businesses impacted by bank’s restructuring unit have until year end to seek compensation

The planned redundancies are expected to take place by the end of the year. Photograph: Dara Mac Dónaill

ISE deal set to deliver higher-than-expected cost savings, at a larger cost, Euronext says

Applegreen dropped 3.9% to €6.50, as it shed a portion of its gains over the pervious two sessions.

Iseq slides 0.3% to just over 6,472, with Ryanair shedding 1.2% after profit warning

FBD, led by chief executive Fiona Muldoon, said on Monday that it planned to redeem and cancel the €70 million of convertible bonds that were sold to Fairfax in 2015.

It also plans to redeem a further €70m

Fineco has an ‘ambitious target’ for growth. Photograph: Bryan O’Brien / THE IRISH TIMES

Fineco Asset Management plans to more than double its 15-strong team in the coming years

IBCB project director Marion Kelly: “Only change that is informed by the views of the public, and driven from within the banking sector, can work.”

‘Banks have let people down with tracker mortgages,’ Marion Kelly says

Danske said its headquarters in Copenhagen and its Estonian branch failed for years to prevent suspected money laundering. Photograph: Mads Claus Rasmussen/EPA

Procurement office to ‘continue to observe developments’ at State’s banking provider

The Republic’s unemployment rate trebled to more than 15% in the four years to early 2012. File photograph: Frank Miller/The Irish Times

House prices and pub revenues slumped while thousands remain in mortgage arrears

Spanish lender Bankinter said this week it was acquiring Irish consumer finance lender Avantcard through its purchase of certain assets of Madrid-based EVO Banco from private equity firm Apollo.

A big problem with An Post’s pitch is that it hasn’t found a partner to finance its foray yet

Former governor of the Central Bank Patrick Honohan: “Although there were better options than the blanket guarantee, none of them would have saved anything like all of the €35bn  or so that those banks cost us.” Photograph: Aidan Crawley

There were few options in 2008 'and that was fault of Dame St, not Leinster House'

Chairman and group chief executive of Ballymore Group Seán Mulryan: “Because there aren’t enough tradesmen, they’re going to call the tune.” Photograph: Alan Betson

Cost rises of 7-10 per cent in next two years threaten development, Seán Mulryan says

 Anglo-Irish bank Headquarters on St Stephen’s Green, Dublin. Photograph: Julien Behal/PA Wire

Key players recall events leading to the bank guarantee – and its aftermath

Topped the table of debt charges taken by Irish banks that have survived the financial crisis.

Almost 10 years since snap guarantee to six lenders that would cost taxpayers €64bn

 Former governor of the Central Bank Patrick Honohan: wants the State to set aside windfalls from stronger-than-expected corporate tax receipts. Photograph: Dara Mac Donaill

Developer Sean Mulryan warns building costs ‘biggest risk’ to housing supply

The FSU estimates that banks in Ireland have eliminated 26,000 jobs in a decade of unprecedented restructuring. File photograph: Getty Images

Ryan informed colleagues that he is moving on to ‘pursue other interests’, say sources

In Dublin, insurer FBD Holdings rose by 2.5 per cent to €10.25.

European markets buoyed by speculation that US could resume trade talks with China

Smurfit Kappa said it was using “all available means” to secure the release of two of its employees who were arrested last month by Venezuelan authorities.

Cardboard box-maker lost control of the unit to the local government in troubled region

An artist’s impression of Cherrywood town centre.

Hines and King Street Capital hire agent to market 73 acres to homebuilders

Smurfit Kappa CEO Tony Smurfit, grandson of company founder.

Packaging group fought off unwanted IP bid and was embroiled in Venezuelan crisis

Smurfit chief executive Tony Smurfit at the Institute of Directors in Ireland annual lunch on Friday.

Box-maker Smurfit Kappa fought an unwanted bid from a US rival earlier this year

Deirdre Somers, who moved on from the Irish Stock Exchange “to begin the next chapter of my business career”, officially left the company last week. Photograph: Patrick Bolger/Bloomberg

Purchase by Euronext triggered windfall for key personnel including former chief executive

PTSB is working on putting up to €600 million of additional restructured mortgage loans into a securitisation deal, sources said. Photograph: Alan Betson

Bank preparing to increase size of planned residential mortgage-backed securitisation

Can Ian Curley save the day at Malin? Photograph: Dara Mac Dónaill

Plus, good times return for top AIB clients

Two  home-builders have floated on the Irish Stock Exchange since the middle of 2015, Cairn Homes and Glenveagh Properties

Myles O’Grady hired to beef up management team of new company DRes Properties

The Central Bank is preparing to loosen restrictions on credit unions providing home loans

Consultation paper on proposed changes will be published ‘within the coming weeks’

The ECB is widely expected by economists to outline plans  to end bond purchases this year. Photograph: iStock

NTMA has now raised €13.5bn of its full-year targeted range of €14bn-€18bn

Central Bank deputy governor Ed Sibley said banks “must have a way of dealing with” non-performing loans. Photograph Nick Bradshaw

‘Next downturn closer than start of last one,’ top Central Bank official says

Malin chairman Ian Curley and non-executive director Liam Daniel at the company’s agm in Dún Laoghaire, Co Dublin. Photograph: Dara Mac Dónaill

Almost 51% vote against plan at health firm’s agm over director remuneration concerns

Barclays has repackaged €585 million of performing loans from the former Bank of Scotland (Ireland) portfolio in a so-called residential mortgage-backed securities transaction. Photograph: Joe Giddens/PA Wire

About 12 per cent of loans in €585 million portfolio have paperwork issues

Helsinki-based Amer Sports, which owns the Wilson tennis racquets used by Serena Williams, soared on news that it has received a takeover approach.

Iseq edges higher after five sessions of losses with Aryzta leading list of advancing stocks

Coillte plans to build 25 more wind farms on its land with the capacity to generate 1,000 megawatts  of electricity over the next decade. Photograph: iStock

Dublin-listed energy player Greencoat the winning bidder for Coillte’s stake in the wind assets

Aryzta owns brands including Cuisine De France. Photograph: Nick Bradshaw

Swiss-Irish baked goods group also announces a series of board changes

 The Huntstown gas power station, a unit of Viridian Group, in Huntstown near Dublin.  Photograph: Aidan Crawley/Bloomberg via Getty Images

I-Squared Capital purchased Northern Irish power firm in 2016 for €1 billion

The latest figures point to labour costs in the construction industry growing at an annual 5.4 per cent rate in the second quarter. Photograph: Chris Ratcliffe/Bloomberg

Developers face headwinds from market malaise in Europe and rising labour costs

Green bond issuance ballooned to a record $161 billion (€138.8 billion) last year.

Agency has just received Government approval for a new green bonds framework

In July last year, AIB abandoned plans to offshore additional IT functions to Wipro.

Financial Services Union welcomes ‘major reversal of policy’ by State-owned bank

Mainstream Renewable CEO Andy Kinsella

Company has Chilean government contracts to develop and run wind and solar plants

Francesca McDonagh, group CEO of Bank of Ireland. Photograph: Joanne O’Brien

Francesca McDonagh says debate needed on ‘what we build, and where we build it’

Tullow Oil chief financial officer Les Wood said the company had worked in recent years to restructure its balance sheet and lower debt, and “can now focus on getting back to growth”. Photograph: Andrey Rudakov/Bloomberg

Chief financial officer sees oil prices strengthening further in short term as demand grows

Glenveagh said in its first-half report, issued on Monday, that it has spent €479 million buying land for house construction since its flotation.  Photograph: Chris Ratcliffe/Bloomberg via Getty Images

Justin Bickle’s €106,350 move follows lacklustre market response to latest interim report

Sharon Donnery, a deputy governor of the Central Bank, reportedly has Germany’s backing to become the next head of the ECB’s banking supervision arm. Photograph: Nick Bradshaw

Central Bank chiefs get Berlin’s backing for top euro-zone positions

Mark Bourke joined AIB in April 2014  Photograph: Eric Luke

Chief financial officer instrumental in preparing bank for last year’s IPO

Taoiseach Brian Cowen’s government give banks a blanket guarantee.

Joe Brennan’s day-by-day account of the month before the implosion of the global banking sector and the Irish bank guarantee

Davy will work alongside US investment bank JP Morgan on a Dublin and London stock market flotation of the business, sources say,  which will be led by Patrick Durkan of Durkan Residential. Photograph: Dara Mac Dónaill

Transaction would see key sites acquired at knock-down prices in Ireland rolled into the new company

Sales at Eir dipped 2 per cent to €1.27 billion. Photograph: Maxwells

Sales dip 2% as company plans to put more money into high-speed fibre, 5G network

Cairn Homes chief executive Michael Stanley said residential development in Dublin “is not as viable and profitable – and it hasn’t been for the last number of years – as office building”. Photograph: Cyril Byrne

Housebuilder to pay dividends from 2019 profit and build on ex-RTÉ site next year

One of the first  Allsop property auctions in 2011 in  Shelbourne Hotel, Dublin Photograph: Bryan O’Brien

Pollen Street buys large stake in Irish online auction firm that grew out of Allsop

Albert Manifold, CEO of CRH plc: Last week, the Dublin-based company launched the second phase of a share buyback programme. Photograph: Nick Bradshaw

Acquisition of Concrete Specialities sees building giant continuing to strike bolt-on deals

 INM’s Michael Doorly: says he is focused on returning the newspaper publisher to growth. Photograph: Dara Mac Dónaill

‘Corporate strategy’ is priority says CEO Michael Doorly as pretax profit falls almost 23%

Digicel chief Denis O’Brien moved on Friday to offer holders of $2 billion of bonds that mature in two years’ time a swap for similar securities that would fall due in 2022. Photograph: Matt Kavanagh

Digicel bond offer could give telco breathing space to prove it can rebuild earnings

Digicel plans to raise up to $500 million from asset sales by next April.

Company offers to swap $2bn in 2020 bonds for ones that mature in 2022

Independent House, Talbot Street, home to Independent News & Media. Photograph: Alan Betson

Drop at media giant comes amid advertising income decline, and a mounting legal bill

Kelly Martin, former chief executive of Elan and co-founder of Malin. He left Malin in October last year, receiving a €3.2m exit settlement, compared to the €6.5m to which he was entitled.

Series of investments in life science companies have been badly received by the market

Taxpayers ultimately committed €29.3 billion to Anglo Irish Bank by the end of 2010. Photograph: Bryan O’Brien

Assessor to find out if failed bank had any equity value when nationalised a decade ago

Digicel office in Port-au-Prince, Haiti. The company expects to generate $90 million from a previously-announced disposal of 450 towards across the Caribbean by the end of September. File photograph: Thony Belizaire/AFP/Getty Images

Telco group seeks to lower its total $6.7bn debt pile

It was reported last week that the Caracas government seized Smurfit Kappa Carton de Venezuela (SKCV) amid complaints about prices that the company was charging for its products in an alleged abuse of its dominant market position – at a time when the country is grappling with hyperinflation.

Two employees of the Dublin-based group detained by authorities

Ray Leclercq is expected to return to the UK. He was previously CFO of Dutch software firm Unit 4 and also worked at various senior levels at British telecommunications group BT.

South African is to leave Denis O’Brien-led telecoms company next month

The unemployment rate in the Republic fell to 5.9 per cent in the second quarter from a peak of more than 16 per cent.

Irish property prices rose 12 per cent in June, continuing recent double-digit trend

CRH, led by chief executive Albert Manifold, had already bought back €350 million of shares.

Company announced on April 25th that it would repurchase up to €1 billion of its stock

Jeremy Masding, chief executive of Permanent TSB. Mr Masding said there is “absolutely nothing going on as far as I’m aware”. Photograph: Colm Mahady/Fennells

Bank says capital levels will fall as it meets ECB rules to set aside more money against mortgage risks

Irish residential rents have surged almost 58 per cent since 2012. Photograph: Chris Ratcliffe/Bloomberg via Getty Images

Bank’s economists say growing investor demand is bringing development over the line

Mary O’Dea joined the Central Bank three decades ago and stepped in as acting chief executive for a year following the 2009 retirement of Patrick Neary

Former regulator quit the Central Bank late last year to join the Institute of Banking

Banking stocks were out of sorts, with AIB down 0.4 per cent at €4.81 and Bank of Ireland off 0.1 per cent at €7.10 as investors positioned themselves ahead of interim results from smaller rival Permanent TSB on Wednesday. Photograph: Julien Behal/PA Wire

Iseq ends session virtually unchanged in listless market while US stocks hit highs

ACC Bank headquarters in Dublin. Photograph: Niall Carson/PA

Loan book of €3.2bn expected to be put on market at discount in final quarter of 2018

Davy building at 20 On Hatch, on Hatch Street Lower: MetLife  agreed to extend the lease on its European operational base by a further 10 years. Photograph: Gareth Byrne Photography

Fund increases value on building to €40m from €27.5m it paid for the property in 2014

Theresa May is hoping to conclude a divorce deal and broad outline of a future trade agreement with the EU in October. Photograph: Steve Parsons/PA Wire

Mood down for second consecutive month as sterling volatility adds to concerns

Gas Networks Ireland is targeting that 20 per cent of gas supply will come from renewable sources in 2030. Photograph:   Yui Mok/PA Wire

Gas was required to generate record of 90% of State’s power in June and July

The Sunday Times reports that companies linked to the family of developer Paddy McKillen are now in exclusive talks to buy the former Clerys department store on O’Connell Street in Dublin from Deirdre Foley’s Natrium consortium.

Seen & Heard: McKillens may buy Clerys, Weston Airport seeks to ramp up executive jet service

Former Ireland rugby international Jamie Heaslip is among Flender’s backers. Photograph: Inpho

Latest fundraising round is part of €50 million targeted by firm, says chief

Fitch has lowered its rating on Digicel. Photograph: Ken Cedeno/Digital/Corbis via Getty Images

Fitch lowers rating on phone group to B–, six notches below investment grade

Sharon Donnery, deputy governor of the Central Banking has applied for top ECB job.

Move may scupper chances of Philip Lane joining the institution’s executive board

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