Sterling  soared, gilts fell and British stocks surged after prime minister Boris Johnson won a majority in the UK general election. Photograph: Bryn Colton/Bloomberg

The markets are basking now in the afterglow of a Johnson electoral triumph. But for how long?

CLOs are a small but fast growing part of a €4.5 trillion non-bank finance sector in Ireland, which has more than doubled in size in the past decade and ranks as the sixth largest in the world.  Photograph: Alan Betson

Ireland could get caught in an international financial shock if corporate default rates spike

The Iseq index, which surged as much as 3.6%  to a 12-year high of 7,329.18, ended the session 1.6%  ahead. Photograph: Dara Mac Dónaill

State’s two main banks add up to €1.3bn to their market during trading

Oscar-winning Lord David Puttnam, left, Seamus Hand, managing partner KPMG, Ian Hyland, publisher Business & Finance Media and Mario Draghi, former president of the European Central Bank at the 45th annual Business & Finance Awards at the Convention Centre, Dublin. Mario Draghi received the Sutherland Leadership Award and Oscar-winning Lord David Puttnam received the TK Whitaker Award. Picture Conor McCabe

EU will toughen own laws to counteract loss of WTO’s appellate board, says Phil Hogan

Bank of Ireland’s new app has increased functionality by 50 per cent, has enhanced security controls and will allow customers to avail of a broader set of payment options.

New mobile app will be rolled out on phased basis in 2020, bank says

Moody’s says  the UK’s planned departure from the EU should have a “modest” impact on the State’s banks as their capital reserves levels were solid and their general funding bases were largely based on deposits

Debt ratings agency cites ultra-low central bank interest rates, Brexit and levels of non-performing loans

A planned Urbeo development in Citywest. The build-to-rent company is expecting to have a total portfolio of 1,900 units by March 2020. Photograph: Urbeo

Company says goal is to build €1 billion portfolio of assets in Ireland

Eddie O’Connor, founder and chief executive of Mainstream Renewable Power.

Eddie O’Connor owns 55% of company

The NTMA’s bond redemptions are set to fall after 2020.

Agency sold €15.4bn of long-term bonds this year, at the lower end of its full-year target

Open Orphan is the result of Cathal  Friel reversing his pharma services business of the same name into Dublin-listed drug clinical trials manager Venn Life Sciences earlier this year

Deal values Hvivo at £12.96m, with its shareholders owning 44.7% of enlarged company

Tullow Oil’s share-price slump wiped £1.43 billion (€1.7 billion) off its stock market value, and reignited market speculation that it could be a takeover target. Photograph: Baz Ratner/Reuters

Irish-founded oil exploration group tells analysts it’s open to offers ‘at proper value’

Kerry Group CEO  Edmond Scanlon. Photograph: Alan Betson

Irish food group leading contender for $25bn DuPont nutrition business

Beinn an Tuirc wind farm, Scotland. Mainstream swung into a €487.5m profit last year from a €5m loss for 2017, driven by the sale of a Scottish offshore wind farm for up to €650m to French utilities giant EDF. Photograph: Ben Curtis

Renewables group plans multibillion dollar, multigigawatt construction programme

The Construction Industry Federation estimates that house and apartment completions will increase this year to 23,000 from 18,072 in 2018. Photograph: Chris Ratcliffe/Bloomberg

Slippage in residential activity at odds with official data, says Ulster Bank

Paschal Donohoe: eyeing budget surpluses.  Photograph: Nick Bradshaw for The Irish Times

Minister’s plan for State finances involves doing bare minimum

Surviving domestic banks have cut their average non-performing loans ratio from a peak of 30 per cent in 2013 to 7 per cent at the end of June, according to Central Bank data. Photograph: Alan Betson

New law requires owners of Irish mortgages to be regulated

Central Bank governor Gabriel Makhlouf: “If I recall correctly that particular gentleman described our work as annoying, and one of the things I can tell you is that he may regret the fact that we will continue to be annoying.” Photograph: Nick Bradshaw

Johan Thijs had bemoaned the regulator’s continued focus on the tracker scandal

Fitch upgraded its main credit rating for Permanent TSB by one level to BBB-, returning it to what is considered investment grade. Photograph: Alan Betson

Permanent TSB, AIB and Bank of Ireland all benefit

The housing market is in difficulty. More expensive properties are slow to sell and prices in some areas are static or easing back. File photograph: Getty

Calls from politicians and bankers to loosen contentious lending caps resisted by governor

The final reporting of restated 2018 figures as well as the interim results for this year “represent an important milestone for the group,” said Datalex’s new chief executive Sean Corkery.

Travel retail software provider disclosed accounting irregularities earlier this year

French shares gained 1.3%  after US leader Donald  Trump and French counterpart Emmanuel Macron said  they hoped to smooth out their differences over a digital services tax

Markets report: Banking stocks main gainers in Dublin amid increasing optimism the UK will avoid a no-deal Brexit

The State is the world’s sixth-biggest jurisdiction for non-bank financial activities. Photograph: iStock

Central Bank estimates that Irish-resident funds hold 35% of Irish commercial property assets

 Governor of the Central Bank Gabriel Makhlouf has decided to stick with existing mortgage limits. Photograph Nick Bradshaw

Bank estimates house prices would have been 26% higher if the rules had not been in place

Like other banks, Ulster Bank is struggling with low central bank rates and Brexit uncertainty. Photograph Nick Bradshaw

Bank confirms voluntary severance scheme will be targeted at quarter of manager roles

Minister for Finance Paschal Donohoe said that higher-than-expected corporate tax income seen in recent years “will not last forever”. Photograph: Nick Bradshaw

Minister warns of ‘clear and present danger’ of fall-off in corporation tax receipts

Minister for Finance Paschal Donohoe: “On foot of today’s figures, I now believe a surplus of 0.4 per cent of GDP (gross domestic product) is in prospect for this year.” Photo : Laura Hutton/The Irish Times

Paschal Donohoe expects a surplus of €1.4 billion in cash terms

Bank of America Merrill Lynch research shows companies with progressive ESG stances have fewer bankruptcies. Photograph:  Alastair Pike/AFP via Getty Images

Fewer bankruptcies at firms with strong ESG stances says bank’s vice-chair Anne Finucane

Customers at a Digicel shop in Fiji. Photograph: iStock

Businessman faces renewed calls to commit cash having refused request last year

Recent unrest in Haiti – one of the Digicel’s most important markets. Photograph:  Valerie Baeriswyl/AFP/via Getty Images

Crisis in one of Digicel’s biggest markets adds to pressure on the company from bond markets

Governor of the Central Bank of Ireland Gabriel Makhlouf.

Market Watch: Republic is world’s sixth-biggest jurisdiction for ‘shadow banking’

 Conor O’Kelly, National Treasury Management Agency chief executive, and  Philip Lane, ECB chief economist, at the  NTMA annual dinner. Photograph:  Chris Bellew /Fennell Photography

ECB chief economist says emerging economies are also increasingly putting their currency reserves into low-risk assets

CRH said its earnings growth in the third quarter was helped by more favourable weather conditions than experienced in the first half of the year in North America, with group sales rising 9%  to €21.8bn  for the period as a whole

Building materials giant has spent €700m on acquisition deals so far this year

 Daryl Byrne, chief executive of Euronext Dublin. Photograph: Dara Mac Donaill / The Irish Times

Accounts for ISE show net profit of €1.57m last year, up from €4.25m loss for 2017

Fitch warned last week that Digicel faces ‘imminent refinancing risk’ and will likely have to restructure the 2021 bonds. Photograph: Getty

Market value of the heavily-indebted company’s bonds edges slightly higher

Brian Hayes, chief executive of the Banking & Payments Federation Ireland. Photograph: Alan Betson / The Irish Times

Irish society must not drown out contrarian voices, says Brian Hayes

The development comes four months after Arachas acquired Murray & Spelman, an insurance and finance brokerage with offices in Galway and Kildare,  for an undisclosed sum.

State’s largest independent general insurance broking group has over 250 employees

A Tullow interest in Kenya: Having a stomach for oil at all takes a particularly tough type of investor in these climate-conscious days. Photograph: Reuters

Joe Brennan: One-time stock market darling pummelled by slew of negative news

Fitch lowered its ratings on Digicel by one level to CC, eight rungs below what the ratings agency deems to be an investible grade. Photograph: iStock

Most immediate concern is $1.3 billion notes maturing in April 2021, ratings agency says

Nick Amin will take over the leadership of Aviva Ireland’s general insurance business up to the beginning of summer 2020, a spokeswoman for the insurer said. Photograph: iStock

Senior executive from insurer’s UK parent takes on Quinlan’s duties

Home improvement retailer Kingfisher, which owns B&Q,  slumped 7 per cent. Photograph: PA

Iseq down 1.2 per cent, with Kerry among main decliners

Central Bank governor Gabriel Makhlouf highlighted the need for the Irish economy to improve its resilience to challenges posed by Brexit, climate change and the pace of technological progress.

In maiden speech Central Bank governor highlights need for improved resilience

Ger Deering. Photograph: Brenda Fitzsimons

Ger Deering’s office was dealing with 1,174 tracker complaints at the end of last month

Insurance fraudsters in Ireland are “walking free from courts effectively with the message to spin the wheel again”.

State insurer says courts must throw out exaggerated claim and jail fraudsters

Photograph: iStock

Fraud conference told that body will set guidelines for personal injuries

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

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