IBI managing director Tedd Webb and chief executive Tom Godfrey are in advanced taalks with Bank of Ireleand.

Bank pay restrictions are said to have played a part in IBI buyout deal

European Central Bank President Mario Draghi, who was speaking in Trinity College, Dublin on Friday morning. Photograph: David Sleator/The Irish Times

ECB chief says EU governments must do more to tackle youth unemployment

Polls indicate German chancellor Angela Merkel’s CDU and its sister party the CSU have a 15-point lead over their nearest rivals. Photograph: Kai Pfaffenbach/Reuters

Greek debt and restructuring Italy’s financial system key issues for EU, says bank strategist

Bank of Ireland said it had identified 602 customers who had been wrongly denied a cheap mortgage that tracks the ECB benchmark rate. Photograph: Dara Mac Dónaill

Lender says it has ‘no plans’ to follow other lenders in selling non-performing mortgages

A selection of five, ten and 20 euro banknotes  . Photographer: Chris Ratcliffe/Bloomberg

Negative yield reflects ongoing ECB quantitative-easing bond-buying programme

CRH chief executive Albert Manifold: the company is now well placed to benefit from US president Donald Trump’s infrastructure plans.   Photograph: Cyril Byrne

Shares jump as building materials giant buys US’s fifth-largest cement company for $3.5bn

Spider-man, whose alter ego on this occasion is Jamie Kenny from Drogheda, attends Dublin Comic Con 2017, held in the Convention Centre Dublin. Photograph: Nick Bradshaw

Operating profit at company running the venue rises almost 11% to €5.59m

Brian Hayes MEP said “ultimately there will be a deal on tax” as both Fianna Fáil and Fine Gael want the budget to go through. Photograph: Alan Betson

Both parties know they are fighting over ‘peanuts’ in budget, says MEP

Harvest services about 1,500 clients with retirement planning, financial planning and investment advice. Photograph: Andrea Comas/Reuters

Possible link-up in the offing as FTSE 100 investment giant looks to expand into Republic

Ryanair’s chief executive Michael O’Leary speaking at a press conference in Dublin to defend the airline over its decision to cancel up to 50 flights a day to deal with a staff rostering issue. Photograph: Nick Bradshaw

Some €1.4bn has been wiped off Ryanair’s market value since it began cancelling flights

Fyffes faced outright expulsion last week, but Ethical Trading Initiative has decided to give the new talks a chance. Photograph: Simon Dawson/Bloomberg

Irish company enters talks with unions on a dispute over Honduras farmers’ rights

Forensic accountants hired by the Central Bank to look into Rush Credit Union were unable to track down winners of 15 car draws, involving an outlay of €220,860, between November 2012 and April 2016. Photograph: North County Leader

Central Bank issues prohibition notice into Anne Butterly following investigation

Ryanair has lost as much as €2.1 billion of its market value since the middle of last week, as the carrier’s move to scrap thousands thousands of flights over the next six weeks added to the impact of news on Thursday of a potentially costly European court ruling Photograph: RollingNews.ie

Low-cost carrier’s shares have fallen almost 10% since the midde of last week

The founder of French broadband internet provider Iliad, Xavier Niel. Photograph: EPA/POOL Philippe Wojazer

Niel learned the art of computer programming as a teenager in the 1980s

Jeremy Masding, group chief executive of Permanent TSB: the bank has the highest ratio of non-performing loans (NPLs) among Ireland’s bailed-out banks, at 28 per cent of its portfolio. Photograph: Colm Mahady/Fennells

Bank under pressure to deal decisively with its €2.68bn of worst-performing mortgages

Bank of Ireland’s chief executive of eight and a half years, Richie Boucher, is preparing to retire early next month, to be succeeded by HSBC executive Francesca McDonagh

Talks reach an advanced stage as bank prepares for change at the helm

French billionaire Xavier Niel is pursuing an investment in Eir through a company called NJJ Capital, according to sources.

Iliad founder Xavier Niel in talks to buy major stake in Eir

Nama was last week given the task of gathering €5.5bn   to repay the State’s remaining 2010 bailout loans from the IMF and  bilateral borrowings  from Denmark and Sweden

Funding agency given task of gathering funds to repay bailout loans early

Eir said on Thursday that its hedge-fund owners are in talks with a potential investor seeking to take a “significant” stake in the firm. Photograph: Alan Betson/The Irish Times

US hedge fund Anchorage Capital owns 42% of Eir’s equity

Eir’s headquarters in Dublin. The telecoms group’s full-year profits rose 4 per cent to €520 million, while revenues were steady at €1.3 billion. Photograph: Alan Betson

Telecoms group considers alternative to listing on stock market

Former Central Bank governor Patrick Honohan is to co-author a review of Iceland’s future monetary policy direction. Photograph: Matt Kavanagh

Central Bank ex-governor to advise on inflation as economy rebounds from crisis

CRH: the firm’s stock, which accounts for almost a quarter of the Iseq,  gained 0.4 per cent after  Morgan Stanley raised its stance   to “equal-weight”, the equivalent of “hold”, from “underweight”. Photograph: Brenda Fitzsimons

Mining drags FTSE down as Apple dissapoints suppliers with late iPhone shipping

New housebuilder Glenveagh Properties is expected to float next month.

Oaktree-backed Irish housebuilder expected to float in Dublin and London in October

Bank of Ireland said that research it commissioned among US-based small- and medium-sized enterprises (SMEs) highlights that many are looking for more efficient and cost-effective ways to make intenational payments.

Deal will allow foreign exchange and payments service for US customers

Pageant Holdings is now Providence Resources’ second-largest shareholder, after London-based M&G Investment Management

Nick Furlong increases Pageant’s stake in Tony O’Reilly-led oil and gas explorer to 9.7%

Bank of Ireland’s first issuance of junior debt by its new holding company is expected to carry an interest rate of between 3.55 per cent and 3.60 per cent, according to analysts at Investec in Dublin.

Bank set up holding company this year to issue debt under new European ‘bail-in’ rules

Turbines at the Seltannaveeny Wind Farm, operated by Energia Group, a unit of Viridian. Photograph: Barry Cronin/Bloomberg

US private equity firm I-Squared bought Viridian last year in estimated €1 bn deal

Michael Stanley of Cairn Homes. Photograph: Cyril Byrne

Home builder has raised €720m from investors in a little over two years

Applegreen said overall profits in the UK, which accounted for 28 per cent of the group’s first-half gross earnings, benefited from a rebound in fuel margins

Food and expanding fuel margins drive 20% profit growth at fuel forecourt retailer

The Landings beside the Central Bank. US banks Bank of America Merrill Lynch and Citigroup are among firms that plan to expand in Dublin. Photograph: Cyril Byrne

HWBC estimates prime rents in the city centre will peak at €65 per square foot

Large queues of savers stretch along a street in Dublin in front of the troubled Northern Rock bank in September 2007.

A decade after the bank run, Ireland is still counting its costs

Bank of Ireland logo: sale of bonds is expected to start next week. Photograph: Dara Mac Dónaill/The Irish Times.

Lender set up new holding company in June to comply with new EU rules

Cormac Ryan: Ulster Bank executive has been chosen to lead Pepper Group’s Irish unit. Photograph: Fennells

US private equity firm KKR agreed to buy the Australian finance group last month

Taoiseach Leo Varadkar and Minister for Finance Paschal Donohoe plan to execute an early repayment of the remaining €4.5bn owed to the IMF. Photograph: Dara Mac Donaill

Paschal Donohoe says decision to hold off repayment has nothing to do with Brexit

Analysts following Bank of Ireland have expressed scepticism about the prospects of a dissolution of the joint venture

Analysts in Dublin sceptical about union-commissioned report gaining traction

Mainstream Renewable Power founder Eddie O’Connor. The company’s new time frame for an IPO is five years behind Mr O’Connor’s original objective. Photograph: Frank Miller

Company eyes more than €200 million from Chile projects and Scottish windfarm sale

 The Bank of Ireland headquarters on College Green in Dublin. Photograph: Frantzesco Kangaris/Bloomberg

Bank is reassessing its relationship with the PR firm following South Africa controversy

The NTMA has set a deadline of September 19th for expressions of interest for the Apple escrow account contract, with a final award being made in mid-November. Photograph: AFP.

NTMA launches search for asset managers to deal with Apple escrow account

A mix of Glanbia nutritional products. Photograph: Irish Times

Investec says concern over Glanbia’s global performance nutrition unit ‘unfounded’

It is understood PTSB has  written to a select group of BTL borrowers in recent weeks as part of a pilot scheme which may be extended. Photograph: Nick Bradshaw

Mortgage lender makes offer to some borrowers in default under pilot scheme

Michael Stanley, Cairn CEO. Photograph: Cyril Byrne

Volume focused developer posts 191% surge in profits to €7.7m

Cairn Homes chief executive Michael Stanley: “We’re very happy with the size and scale of our land bank today and what we paid for it.” Photograph: Cyril Byrne

Focus shifts to dividends as housebuilder prepares to generate cash at pace from 2018

The price of ammonium paratungstate, a white crystalline salt of ammonium and tungsten, has  increased 30%  since June. Photograph: iStock

Irish-listed exploration company owns 30% of tungsten mine

Eddie O’Connor has assumed the role of executive chairman at Mainstream.

Chief operating officer takes over as chief executive at renewable energy group

Cairn’s Parkside development on the Malahide Road in Dublin.

Homebuilder is currently building on nine sites which will deliver 3,250 new homes

Staff at work in An Post’s Merrywell Parcels Depot in Dublin. An Post is planning to grow its revenues from parcel deliveries to more than €200 million by 2020. Photograph: Maxwells Dublin

State-owned postal group seeks to grow its share of the e-commerce parcels market

Louise O’Mara Citi’s new head of corporate banking in Ireland with Tony Golden, who is chairman of the division

Citi expects to do $30 billion worth of debt and equity deals for Irish clients this year

Fine Gael MEP Brian Hayes: insurers’ host countries need strengthened role to be able to address solvency problems. Photograph: Alan Betson

More powers needed to supervise companies offering cross-border insurance

 A Bank Otkritie FC bank branch in Moscow, Russia. Photograph: Andrey Rudakov/Bloomberg

Debt investors in Irish SPVs have been hit as Russian-linked borrowers run into trouble

Irish Stock Exchange chief executive Deirdre Somers: “2016 was a standout year for the ISE as we continued to develop our domestic and international business lines.” Photograph: Brenda Fitzsimons

Bourse’s short-term investments rose to €47.8 million last year from €42.2 million

Thirty-six  per cent of Irish charities break down expenditure by activity in their reports, compared with 76 per cent in the UK, a report commissioned by Chartered Accountants Ireland has found. Photograph: Peter Dazeley/Getty Images

Irish charities lag UK counterparts in reporting financial information, study finds

The contract cleaning services firm Noonan Services  generates 40 per cent of its revenue in the UK. Photograph: Getty Images

South Africa’s Bidvest completed €175m purchase of contract cleaning firm on Friday

Vayu noted that winter gas prices have risen by 8 per cent in the past six weeks.

Warning by supplier of ‘considerable’ volatility follows 30 per cent surge in price

Sumitomo completed its €751m takeover of Fyffes in February. Photograph: PA Wire

Tropical fruits distributor was acquired by Japan’s Sumitomo this year for €751m

The Central Bank building at North Wall Quay, Dublin. Photograph: Alan Betson

Proposal that workers have six months’ experience of financial products omitted

Dundrum Town Centre. It is currently 99%  occupied, and generates a total passing rent of about €66m   a year

Hammerson and Allianz arrange €625m seven-year term loan secured against the centre

Turbines at the Seltannaveeny Wind Farm, operated by Energia Group, a unit of Viridian. Photographer: Barry Cronin/Bloomberg

Owner of gas and electricity supplier Energia’s 7.5% bond rate almost double rivals’

Grafton  says the  reformatting of Woodie’s stores and the  entry in recent years into kitchen sales are bringing in new customers

Irish merchanting operating profit up 44.1% to £15.4m, with strong sales growth

AIB’s shares promoted to FTSEurofirst 300 index. Photograph: Jock Fistick/Bloomberg

Cairn Homes to join FTSE Global Small Cap Index under rejig from September 18th

The number of cars carried on Irish Continental Group’s ferries rose 2.3 per cent to 174,500 units in the first half of the year.

Group eyes ‘significant’ earnings boost from €144 million cruise ferry being built

A man walks past the logo of Russian bank Otkritie in Moscow: Otkritie began experiencing massive deposit outflows in June, prompting clients to withdraw the equivalent of about $7.4 billion throughout July. Photograph: Sergei Karpukhin

OFCB in Dublin is Otkritie’s main overseas funding vehicle with over €1.4bn of bonds

One51 chief executive Alan Walsh, who plans to list the business next year. Photographer: Dave Meehan

Irish tax rate is less than half the Canadian level and company also has eyes on European expansion

Oaktree and Bridgedale’s decision to go down the IPO route comes as the latest data from the Central Statistics Office shows home price inflation running 11.6 per cent. Photograph: Chris Ratcliffe/Bloomberg

New housebuilder being prepared for flotation has been named Glenveagh Proprties

The Central Bank found that not all investment firms could demonstrate that they had effective governance structures. Photograph: Niall Carson/PA Wire

Most firms unable to show they comply fully with EU guidelines, Central Bank says

Kenny Jacobs left and David O’Brien of Ryanair during their press conference in Dublin on Tuesday. Photograph: Cyril Byrne

Airline has complained to competition authorities over Air Berlin ‘stitch-up’

South Korea’s Mirae Asset Financial Group had planned to buy a building in Dublin’s IFSC for a new trading base.  Photograph: Bryan O’Brien

Decision comes two months after picking Dublin over London for the business

In the US, uncertainty about the impact of tropical storm Harvey pushed investors toward safe-haven assets. Photographer: Michael Nagle/Bloomberg

PTSB down 0.9 per cent following ECB fine as Iseq declines for third time in four sessions

The ECB’s supervision arm has fined Permanent TSB €2.5 million after the lender “failed to comply” with specific liquidity requirements. Photograph: Alan Betson

PTSB has ‘fully remediated the issue’, says ECB following issuing of first banking fine

Pepper Group, an Australian financial services group have been bought by KKR. Photograph: iStock

The deal values the Australian non-bank lender at €451m

PTSB has lost about a quarter of its market value in the past two weeks.  Photograph: Nick Bradshaw

PTSB has highest ratio of non-performing loans among Ireland’s bailed-out banks

Michael Stanley of Cairn: “ I think the industry has responded very well to the help-to-buy scheme.”  Photograph: Cyril Byrne

Property developer, who has housing in his blood, busy expanding empire in D4 and D6

Cairn Homes chief executive Michael Stanley at 6 Hanover Quay in Dublin. Photograph: Cyril Byrne

Firm is building office space in Dublin for 60,000 people

Central Bank: IBRC had been using the promissory notes as collateral for emergency funding with the bank. Photograph: Matt Kavanagh

The faster the bonds are sold, the more interest we pay annually, says Fianna Fáil spokesman

Origin shares edged 0.7 per cent higher to €6.75 million on Thursday morning in Dublin, valuing the group at €847 million

UK competition authorities had expressed concern about the transaction last month

Kerry said trading profit increased by 5.2 per cent over the six-month period to €339 million

Trading profit up 5.2% over the first six months of the year

KBC Bank Ireland’s contribution to KBC Group’s net profit surged 213 per cent in the first half of the year to €166 million.

Bank records 213 per cent profit surge as it frees money set aside to absorb loan losses

Steward Mark O’Doherty at The Belmond Grand Hibernian in Dublin. Photograph: Cyril Byrne

Top-end €9,000 train trip around Ireland proves a hit with tourists

The Central Bank approved the creation of 26 new positions for its credit institutions directorate and 10 additional roles in its banking resolution unit. Photograph: Alan Betson

Regulator received no banking applications in first half and approved three insurers

An arm of Wall Street investment bank Morgan Stanley has emerged as a 5 per cent stakeholder in Permanent TSB

PTSB shares have slumped by 35% since the start of June

UBS’s valuation of AIB’s €2.8 billion of stored-up losses is the most conservative to be issued so far by analysts among a raft of banks involved in the IPO. Photograph: Brenda Fitzsimons

Bank expects to cut tax bill over three decades as it uses up tax assets after vast losses

Fitch, one of the world’s leading credit ratings agencies, expects building materials giant CRH to ease back on its recent focus on lowering its debt levels as it returns its focus to growth

Building materials giant has said it may spend up to €3 billion on deals by mid-2018

Mick Sweeney:  has represented Bank of Ireland on industry bodies  and was elected to the board of the Dublin Chamber of Commerce.

Sweeney understood to be looking at Brexit-related jobs in the financial sector

Bananalink protest outside the extraordinary general meeting of fruit distributor Fyffes, which approved the group’s €751 million takeover by Japanese group Sumitomo Corporation in February. Photograph: Cyril Byrne

Fruit firm linked to alleged worker exploitation in its Central American operations

ACC Loan Management had €783m   residential mortgages on its books at the end of last year, out of a total €3.2bn   loan portfolio. Photograph: Getty Images

Central Bank estimates up to 15,000 mortgage holders wrongly denied tracker rate

Owens-Illinois revealed to its shareholders last week  it had sold the award for $155 million to “an Ireland-domiciled investment fund”. Photograph: Brendan Fitzsimons

Owens-Illinois was awarded $455m after two plants were seized by Venezuelan state

The new food market area in Avoca Handweavers at Rathcoole,  Co Dublin. Photograph: Bryan O’Brien

Avoca had more than €4m in restructuring and related costs ahead of Aramark deal

 Gary McCann (left), chairman of Paddy Power Betfair, and chief executive Breon Corcoran. Photograph: Eric Luke

Bookmaker, created by merger last year, poised to report first-half results on Tuesday

Fiona Muldoon, chief executive of FBD, has “no reason to believe”  Fairfax, founded by Prem Watsa, won’t  convert its  €70 million bond holding in FBD into equity in 2018.  Photograph: Eric Luke

Insurer’s shares hit two-year high as it posts €11.9m pre-tax profit, up from €3.7m loss

Shares in the company slumped to as low as 8.625p per share after a preliminary analysis indicated the reservoir contained water

Oil explorer will now drill 1,000 metres deeper to Drombeg target

 Some 3,500 Ulster Bank customers were wrongly denied a European Central Bank tracker interest rate on their homes loans over the past decade.  Photograph: Nick Bradshaw

Lender’s adjusted operating profit fell by a third in the first half of the year to €104m

 Fiona Muldoon, chief executive of FBD Insurance. The insurer delivered a €11.9 million pre-tax profit for the first half of the year, compared to a €5.3 million loss for the same period last year. Photograph: Eric Luke

Insurer posts €11.9 million pre-tax profit for the first half, compared to a €5.3 million loss

Robert Pitt, CEO of Independent News & Media, and  Leslie Buckley, chairman.  Photograph: Cyril Byrne

Robert Pitt’s reticence ‘directly related’ to re-election of Leslie Buckley, says Glass Lewis

Irish Life chief executive David Harney:  “Sales at Irish Life Investment Managers were 25 per cent ahead of budget at the end of the end of the second quarter.” Photograph: Brenda Fitzsimons

Insurer contributes €42 million to Canadian parent’s earnings

The Bank of England cut its economic growth for this year and next to 1.7 per cent and 1.6 per cent, down from 1.9 per cent and 1.7 per cent respectively. Photograph: iStock

Bank of England cuts economic growth forecast for 2017 by 0.2 per cent to 1.7 per cent

PTSB said last week that an ECB-driven review of riskiness of assets will dent its common equity Tier 1 (CET1) capital ratio. Photograph: Alan Betson

Davy downgrades stock and expects bank to withhold dividend payments until 2020

Morgan Stanley sees AIB holding €3.24 billion of “excess capital” by the end of 2019, which could be returned to shareholders over time. Photograph: Cyril Byrne

Banks and brokers that worked on AIB IPO initiate coverage of stock after blackout

Aviva’s Irish HQ at One Park Place.

Company says motor insurance business remains ‘challenging’

Postal software provider Escher saw its shares fall almost 10%  in London as it reported a 24%  decline in first-half revenues. Photograph: iStock

Davy analyst says Escher’s licence fee revenues remain ‘lumpy’

“We expect Ireland’s housing market to experience the strongest year-on-year nominal house prices rises of 8.5%  this year and 7% in 2018, underpinned by supply shortages and continued economic recovery.”  Photograph: Getty Images

Ratings agency’s economists expect UK prices to slow from 2.5% in 2017 to 1% in 2018

The Central Bank sold €500 million of the bonds on Tuesday to the National Treasury Management Agency, which immediately cancelled the securities. Photograph: Matt Kavanagh

Regulator sells €500 million of Anglo-linked bonds to NTMA

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