Gary McGann, chairman and Kevin Toland, CEO of Aryzta. Toland has raised about €230 million so far from disposals – including Irish restaurant supplier La Rousse. Photograph: Alan Betson

Market Beat: Kevin Toland bites the bullet; Seamus Ross’s stock market flirtation ends

David Drumm outside the Criminal Court in Dublin. Photograph: Cyril Byrne

Conclusion of criminal trials clears way for tribunals into executives and into auditor EY

Orange said in its  financial report for the first half of 2017 that it had set aside €346m  in an escrow account to cover the cost of its dispute with Digicel.  Photograph: Getty Images

Paris court ruled in December that Orange pay Digicel €179.6m in damages for abusing its dominant position in French West Indies

Aegon also reveals in its latest financial report that it has disposed of its business in the Czech Republic and Slovakia

The loss contributed to a slump in company’s net profit for the first half of the year

Aryzta has sold unwanted assets, including Irish restaurant supplier La Rousse Foods and its troubled Cloverhill facilities in the US, since Kevin Toland took over the helm last September

Troubled food firm in middle of intense turnaround effort

Arena Group chief executive Greg Lawless: spearheaded a £60 million initial public offering (IPO) at Arena 13 months ago.

Arena Events Group, led by Greg Lawless, has made acquisitions in US and Dubai

Disappointing Tencent earnings added to pressures across markets. Photograph: Reuters

Tencent warning pushes emerging markets index into bear territory

Central Bank deputy governor Ed Sibley said banks need to “take ownership” of their talent pipeline. Photograph: Nick Bradshaw

Regulator says 94% of top banking jobs awarded to men in past six years

Smurfit Kappa’s stock reached as high as €36.76  on three occasions last week.

Janus Henderson cuts holdings in cardboard box maker from 3.9% to below 3% threshold

AIB is planning another NPLs portfolio sale, said to amount to €1.5bn   of loans. Photograph: Paul McErlane/Reuters

Analysts lower price target to €5.45 from €5.65

Paul Coulson of Ardagh Group. The financier  on Thursday backed US president Donald Trump’s plans to slap tariffs on “effectively subsidised” Chinese glass imports. Photograph: Alan Betson

Ardagh has raised almost $10bn selling junk bonds in six deals in just over two years

Allied Irish Bank chief executive Bernard Byrne at the bank’s 2017 agm. AIB shares have fallen by almost 12% so far this year. Photograph: Clodagh Kilcoyne/Reuters

Bank has finally reduced its non-performing loans to average European levels

AIB chief executive Bernard Byrne speaking to the media.

State’s banks have incurred costs of about €1bn to deal with the overcharging debacle

PTSB chief executive Jeremy Masding said the group has started a recruitment and selection process.

Move comes as bailed-out Irish lenders highlight challenge of retaining senior staff

The bank said that the outcome for the period was also helped as its net interest margin.

Bank ‘on track’ to reach ‘normalised’ non-performing loan levels by 2019

Earlier this month, Primary Health Properties said it would provide more than €22 million in development funding for a new primary care centre in Bray. Photograph: iStock

Primary Health Properties has invested in five Irish primary care centres since 2016

The Central Bank has been coming under pressure from the European Central Bank to sell the bonds as quickly as possible in order to ease concerns that the financing amounts to monetary financing, which is prohibited in the euro zone.

Bank has sold €12bn of the bonds since 2014 to National Treasury Management Agency

Hibernia Reit is planning a 50% increase in basic pay for chief executive Kevin Nowlan for the current financial year, to €450,000. Photograph: Tom Honan

Property firm faces possible shareholder revolt over chiefs’ pay plan

Bank of Ireland  has already seen its workforce fall almost 32%  from a peak of 16,000 in 2008.  Photograph: Cyril Byrne

Broker says bank likely to cut headcount by up to 20%

Much of the funds raised will be earmarked for a drilling programme in Gabon in west Africa. File photograph: Getty Images

Seven offshore fields producing 400 barrels per day but production set to peak at 7,000

Michael McGrath: he said the Central Bank was still allowing some lenders to “treat their existing customers in a very unfair manner”

Sinn Féin claims there is little in Central Bank’s recommendations ‘which hasn’t already been proposed

Most banks are limiting themselves to a “one-dimensional” focus on gender, says Central Bank

Central Bank report says lack of diversity was a contributing factor to financial crisis

“Culture is set from the top down. It is a matter for boards and senior management, in the first instance, to set up an effective culture that places the best interests of their customers first,” said Derville Rowland, director general of financial conduct at the Central Bank.

Banks underestimate the work required to transform their culture, says Central Bank

Ulster Bank said in documents  to the Oireachtas Finance Committee last month that it had received 63 complaints from business customers claiming to have been mistreated after their loans were placed in the GRG unit

Bank wants to set a deadline with Central Bank for customers to complain about their treatment by its global restructuring group

Traders working on the floor of the New York Stock Exchange on July 23rd. Photograph: REUTERS/Lucas Jackson

In Dublin housebuilders Cairn Homes, Glenveagh Properties, and Abbey close down

Fitch ratings agency. The agency said  diversity “can support effective and robust decision-making”.

Industry grapples with greater scrutiny as new regulations take effect

The Central Bank of Ireland. Photograph: Alan Betson / The Irish Times

Cantillon: Central Bank knows what rules are needed to change the culture in banks

Only 14,500 new dwellings were built last year – roughly half of estimated current annual demand. Photograph: Chris Ratcliffe/Bloomberg via Getty Images

US distressed debt giant doesn’t waste time selling down Irish house builder stake

Three founding directors of Cairn Homes are set to receive a further €47.8 million of ordinary shares in the homebuilder.

Some 27m of so-called founder shares held by directors will be converted into ordinary stock

Minister for Finance Paschal Donohoe is seeking to hire consultants to advise the Government on bankers’ pay. Photograph: Nick Bradshaw

Top executives’ pay and incentive plans remain a highly politically sensitive issue

Glenveagh, led by chief executive Justin Bickle, currently has a land bank of about 42 sites that could result in about 10,120 units being built.

Firm has used up more than €400 million out of €550 million raised in its October IPO

A London-based life assurance group has entered a deal to buy its second Irish business from Generali in eight months.  File photograph: Benoit Tessier/Reuters

Navan firm sold as part of transaction worth up to €419m

CRH was a bright spot on the day, rising 1.6 per cent to €30.74. Photograph: Brenda Fitzsimons

Iseq ends session little changed with CRH and Origin Enterprises the strong performers

European Union  flags fly outside the Europa building, the seat of the European Council and Council of the European Union, in Brussels, on Monday. Photograph: Yuriko Nakao/Bloomberg

Paper outlines how a looming Brexit ‘must act as a catalyst to redouble our efforts’

Glenveagh’s current land bank has the scope to deliver 10,120 houses and apartments. Photograph: Bloomberg

Sale of €213m of new shares closes gap on Cairn Homes, which has market cap of €1.34bn

The CRH offices on Fitzwilliam Square. Earlier this year, CRH sold its US distribution business, Allied Building Products, for $2.6 billion (€2.24 billion). Photograph: Brenda Fitzsimons

Building materials giant sells off retail business in Netherlands and Belgium

Digicel has pitched to investors that it can reduce its $6.6 billion net debt from 6.7 times earnings to 5.7 times by the end of March next year. Photograph: Getty Images

Cable & Wireless pricing set to remain stable due to Digicel position, ratings agency says

The Minister for Finance, Paschal Donohoe, ordered the report last year at the height of the tracker-mortgage crisis. Photograph: Gareth Chaney/Collins

Report urges setting up regime that would limit ability of individuals to redirect blame

Glenveagh’s current land bank has the scope to deliver 10,120 houses and apartments. Photograph:  Nick Bradshaw

Move to fund more land acquisitions and development, says company

AIB, Bank of Ireland, Permanent TSB and Ulster Bank told the Minister for Finance last December that the intended to set up a banking standards board, modelled broadly on a similar board that operates in the UK, as the industry counted the reputational and estimated €1 billion financial cost of the country’s tracker mortgage controversy.

Entity set up in wake of tracker mortgage scandal will focus on ethics and standards

Alan Walsh, chief executive, IPL Plastics. Photograph: Dave Meehan

Most compelling argument to own IPL shares is strong growth potential – analysts

One  project BVP is looking at is a wind farm which will have the environmental impact over its lifetime of the “equivalent of taking 23,000 cars off the road for one year”. Photograph: Simon Dawson/Bloomberg via Getty Images

Green investment firm plans to invest in a number of renewable energy projects

LRC has appointed Irish hotelier John Brennan at the helm of Amaris as non-executive chairman of the business. Photograph: Brenda Fitzsimons

Amaris has Hilton Garden Inn in Dublin and wants to expand here following LRC deal

A waxwork model of Donald Trump outside the new US embassy in Nine Elms, Battersea, in January. Photograph: Leon Neal/Getty Images

President claimed move to 12-storey building at Nine Elms in Battersea was a ‘bad deal’

An interior shot of Eir’s head office at Heuston South Quarter, showing staff gathering for the launch of the Eir brand in 2015. Photograph: Eric Luke

Move is latest cost-cutting initiative since Eir was taken over by two firms controlled by French billionaire Xavier Niel

Workers paint Digicel on a wall in Haiti. Photograph: Ken Cedeno/Digital/Corbis via Getty Images

Value of $2bn of par-value bonds at Denis O’Brien telco falls by up to a third this year

Michael Fingleton arriving at the Irish Nationwide inquiry at Blackhall Place. The former chief executive told the inquiry that September was his “holiday month”. File photograph: Alan Betson

Former chief executive feels persecuted by investigation

Speaking at an Oireachtas Public Accounts Committee (PAC) hearing on Thursday, NTMA chief executive Conor O’Kelly said a list would allow procurement officials in departments and Government agencies to assess if Irish taxpayers had too much exposure to certain ‘counterparties’.

‘Too much emphasis placed on price when public contracts are being awarded’

An aerial view of the Ballsbridge site that is being developed as a high-end office complex by Ronan Group Real Estate.

Siobhán Quinlan and Johnny Ronan own site worth €120m

Seamus Ross of Menolly Homes: developer   was one of the most active housebuilders in Dublin before the property crash. Photograph: Cyril Byrne

Reverse takeover would allow homebuilder to secure stock exchange quotation

KBC Group in Brussels affirmed its commitment to the Irish market in February last year, ending years of speculation. Photograph: Bryan O’Brien

Ulster Bank has returned €3 billion to Royal Bank of Scotland

The newly restored Stella Theatre in Dublin, one of the country’s oldest cinemas and now part of the Press Up Entertainment group. Photograph: Bryan O’Brien

City of London-based corporate broker Peel Hunt to aid Irish company’s flotation plans

Twitter stock fell after the Washington Post reported that the social media company suspended over 70m fake accounts in May and June. Photograph:Spencer Platt/Getty Images

Iseq advances but International Continental Group sheds value on further ‘Ulysses’ delay

Ardagh chairman Paul Coulson has said he has no interest in sell off any of his 33 per cent stake in the company.

Move means company will have no debt maturing before September 2022

NTMA chief executive Conor O’Kelly: “This late in the investment cycle, there is a higher degree of risk that there could be a material fall in the value of those [bank] shares than there has been in previous years.” Photograph: Sara Freund

Investors in Irish bonds would prefer to see Government taking every opportunity to pay down debt, Conor O’Kelly says

Ulster Bank has become the latest backer of BGF. Photograph:   Nick Bradshaw

Firm eyes up to €250m of long-term minority equity investments in SMEs

KBC Bank Ireland will be the last of the country’s five remaining retail banks to appear before the Oireachtas finance committee in the space of five weeks. Photograph: Bryan O’Brien

Non-performing loans have fallen almost by half to €4.5bn at the end of March, says chief

Demand for rented accommodation in Ireland has doubled over the past five years. Photograph: Moodboard/Brand X/Getty

Firm targets assets close to major employment hubs and key transport links

Confidence among construction firms regarding the 12-month outlook for activity dipped to a six-month low in June, but remained elevated

Pace at which staffing levels rose in the sector in June was faster than in previous month

Students  will have held an average of 10 to 12 jobs by the time they reach the age of 38, according to Ibec

Digitalisation and changing lifestyles are transforming careers, says lobbying group

Tullow swung into its first annual operating profit for three years in 2017, on the back of rebounding oil prices and higher-than-expected production. Photograph: Danny Lawson/PA

Reinvestment requirements weigh against possibility of dividend payment resumption

Roy Barrett, who has led Goodbody for more than two decades, will remain at the helm following a takeover by Chinese government-backed Zhong Ze Culture Investment Holdings. Photograph: Eric Luke

Roy Barrett to remain at Goodbody helm following takeover worth about €150 million

Mario Draghi, president of the European Central Bank, which warned that regulating overseas buyers of soured Irish loans could have “unintended side effects”. Photograph: François Lenoir/Reuters

Move could lead to higher costs for Irish borrowers, Mario Draghi warns

Minister for Finance Paschal Donohoe said refocusing would aid in the delivery of Project Ireland 2040, a €116bn national development plan unveiled in February. Photograph: Gareth Chaney Collins

Minister says retargeting takes into account risks that may be posed by economic overheating

Central banks and regulators across the EU have been obliged since the start of 2016 to make lenders ringfence funds. Photograph: Alan Betson

Regulator said says banks must maintain the equivalent of 1% of risk-weighted assets

Francesca McDonagh, chief executive, Bank of Ireland. Photograph: Dara Mac Dónaill / The Irish Times

Number of accounts identified as impacted by a tracker-mortgage examination at 9,345,

FBD Holdings chief executive Fiona Muldoon faces an investigation  being carried out on foot of a recent complaint by the company’s human resources director. Photograph: Eric Luke

Non-executive directors press for investigation to be completed within weeks

Insolvency Service of Ireland: three of its investigations resulted in the recovery of about €6.5 million.  Photograph: iStockphoto

New bankruptcies fell 10% last year to 526 as economy continued to recover from crisis

Francesca McDonagh is to tell the Oireachtas finance committee the tracker issue became a “key focus” for her after she took up her role as  chief executive of Bank of Ireland. Photograph: Cyril Byrne

Number of accounts identified as impacted up by 13 since March, to 9,345

Former INBS  chief executive Michael Fingleton, arriving at the inquiry. Photograph: Dara Mac Dónaill

Revealing costs would undermine inquiry and raise privacy issues, regulator argues

Traders work on the floor of the New York Stock Exchange on Monday.  Photographer: Michael Nagle/Bloomberg

Iseq index down by 0.8 per cent to 6,927.22, with Paddy Power Betfair and Ryanair among the heavyweight fallers

A slew of countries have tapped the green-debt market, as governments globally seek to live up to the Paris climate agreement. Photograph: iStock

Green bonds are issued to finance climate and environmental investments

The Minister for Finance Paschal Donohoe is pondering a reduction in the stamp duty charged on share trading in Budget 2019. Photograph: Tom Honan

Tax of 1 per cent on share trading in Irish firms raised €369.7 million for State in 2016

AIB chief executive Bernard Byrne. Photographer: Luke MacGregor/Bloomberg

Irish academics join bitcoin bears and first casualty of collapse of Smurfit Kappa sale

Johnny Ronan: a firm linked to him sought €20 million for three strips of land. Mr Justice Robert Haughton ruled in March Marlet could buy two of them for €45,000.  Photograph:  Collins photos

Balark unit of Marlet claims it is owed €1.15m in legal costs by Chambury

Alan Walsh, chief executive of IPL Plastics, who has spent more than six years trying to reshape the business. Photograph: Dave Meehan

Irish headquartered group raises €116m ahead of Toronto stock market listing next week

Cecilia Ronan: “I told them that I may not necessarily be here until 8 o’clock at night, because I wanted to go home, do the feed and the bath, but I said that what I would do would be of really high quality.” Photograph: Nick Bradshaw

Citi’s new chief country officer says there is a need to create an environment for women to thrive in business

18/12/2015 -NEWS- Bernard Byrne, Chief Executive of AIB.Allied Irish Bank. FINANCEPhotograph: Alan Betson / The Irish Times

Bernard Byrne signals job numbers in bad loans division to fall by 500-plus

Digicel owner Denis O’Brien. The group is planning to cut its debt.

Firm plans to complete sale and leaseback of 450 phone towers in Caribbean by September

A  lawsuit initiated in 2012 by IBRC, as Anglo Irish was renamed in 2011, is  expected to remain on hold until a separate trial involving David Drumm takes place. Photograph: Frank Millar

Legal action by IBRC must wait until next Drumm trial over

AIB chief executive Bernard Byrne. Photograph: Gareth Chaney/Collins

AIB’s EBS unit conceded earlier this week a further 500 customers were caught up in tracker scandal

IPL Plastics chief executive Alan Walsh: has spent the last six years reshaping the business formerly called One51. Photograph: Dave Meehan

IPL’s market value on flotation may be up to 811.8 million Canadian dollars

Ulster Bank’s chief financial officer said €295 million of provisions set aside by the bank to deal with the tracker-mortgage scandal included money to cover an expected fine from the Central Bank.

Lender sets aside money for expected fines related to tracker investigation

Permanent TSB: has the highest portion of non-performing loans among bailed-out Irish banks, at 26 per cent of its loan book. Photograph: Alan Betson

State-controlled bank in race against time to appease regulators on level of problem loans

Ulster Bank’s interim chief executive, Paul Stanley, will update the Oireachtas finance committee on Tuesday on a range of issues concerning the lender. Photograph: Brenda Fitzsimons

Bank to update Oireachtas committee on overcharging issue that will result in €38m paidout

Bucking the trend, Bank of Ireland rallied 0.6 per cent to €6.70 following four days of losses, helped by an upgrade from Bank of America Merrill Lynch to “buy”

Bank of Ireland rallies as Bank of America Merrill Lynch recommends ‘buy’

EBS’s concession that a further 500 customers were caught up in the tracker mortgage scandal brings the number of its customers affected to 2,400.

New figures from building society bring total numbers affected at AIB group to 11,700

Nama’s latest lifetime projection, issued last week, “looks very conservative”, Investec Ireland said. Photograph: Dave Meehan

Investment firm upgrades 2018 and 2019 GDP estimates to 5 per cent and 4.5 per cent

Alexis Tsipras during a parliamentary session in Athens on Thursday. The Greek prime minister blinked first after he brought his country to the brink of crashing out of the euro in 2015.  Photograph: Angelos Tzortzinis/AFP/Getty Images

Question marks also over Francesca McDonagh’s strategic plan for Bank of Ireland

Appian Asset Management has apologised to the Central Bank and accepts the sanction imposed in respect of this matter. Photograph: iStock

Dublin firm failed to submit fraud reports to either Garda or Revenue Commissioners

Bank of Ireland chief executive Francesca McDonagh noted that banks that have not been rescued by the State are not subject to the same pay restrictions. Photograph:  Joanne O’Brien

Francesca McDonagh: difficult to convince senior outsiders ‘to take a leap of faith’

Bank of Ireland chief executive Francesca McDonagh: “I want us to be the national champion bank in Ireland.” Photograph: Joanne O’Brien

Interview: Francesca McDonagh has ramped up customer service in her first months

Ulster Bank plans to start writing to business customers affected by the newly-disclosed overcharging by the end of this month. Photograph: Nick Bradshaw

Bank expects to make payments to most of 18,000 affected customers by end of year

Bank of Ireland chief executive Francesca McDonagh said the bank will have “fewer people in the future” as she outlined plans to shave €200 million off its cost base by the end of 2021.

Bank expected to cut more jobs as part of efforts to reduce cost base to €1.7bn by 2021

Bank of Ireland chief executive Francesca McDonagh: has overhauled her executive team. Photograph: Dara Mac Dónaill

Francesca McDonagh to outline plan at capital markets day for analysts and investors

Permanent TSB: a significant portion of the customers the bank is looking to get off its book have “neither engaged with the bank or refused treatment”. Photograph: Tom Honan

Final offers for portfolio of PTSB non-performing mortgages due by July 19th

Seán FitzPatrick, former Anglo chairman, leaves court after his acquittal in 2017. Photograph: Eric Luke

The David Drumm trial was the sixth criminal action taken against executives of the bank since its collapse

INBS’s former managing director, Michael Fingleton: he highlighted that commercial loan applications were processed to the extent that they would only progress to the credit committee if they were “almost certain to be approved”

Loans mainly for UK property but included facilities for purchase of luxury hotel in France

A Smurfit Kappa plant in the UK: IP now faces a 12-month ban from making another approach for the group

Group pledges to redouble efforts to clarify its strategy and boost market value

Applegreen was also in demand, rising 0.6 per cent to €6.30, as the fuel forecourt retailer said it had a positive start to the year.

Banks edge upwards and Applegreen also in demand

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