IPL Plastics chief executive Alan Walsh, has spent more than six years unravelling the group’s previous collection of disparate investments. Photograph: Dave Meehan

Shares priced at significant discount to level Dermot Desmond secured for stake last year

Aryzta, the company behind Cuisine de France, announced a plan to cut costs by €200 million over three years. Photograph: Nick Bradshaw

Baked goods group says annual earnings will be up to 12 per cent lower than forecast

Smurfit Kappa said it had struck a deal to acquire Dutch company Reparenco, saying it was a “strong strategic fit” with its existing European businesses. Photograph: Jason Alden/Bloomberg

Deal comes as packaging giant faces pressure to enter tie-up talks with International Paper

Smurfit Kappa chief executive Tony Smurfit: he  said the acquisition of Reparenco would bring value for shareholders

Dutch paper and recycling business ‘will complement’ packaging giant’s operations

Independent House, Dublin: Beef magnate Larry Goodman is behind several recent large purchases of INM’s shares. Photograph: Dara Mac Dónaill

INM’s editor-in-chief and Denis O’Brien’s last board nominee are to leave the business

Former INBS managing director Michael Fingleton who is representing himself at the inquiry.

Con Horan say he was advised that building society was ‘one of the more difficult’ lenders

 Former INBS managing director Michael Fingleton arriving at the inquiry. Photograph Gareth Chaney/Collins

Lender’s cash resources fell by €1 billion to €3 billion in September 2008

IPL PLastics chief executive Alan Walsh: indicated last week that he expected “minimal” uptake from existing shareholders for the buy-back offer. Photograph: Dave Meehan

Shareholders last week approved a share consolidation at former One51

President Donald Trump and President Xi Jinping of China: investors globally were cheered by easing trade tensions between the US and China. Photograph: NYT

European markets were buoyed by a truce in the trade dispute between US and China

INBS’s former chairman Michael Walsh, who told the inquiry into the building society that  non-executive directors were becoming increasingly frustrated with its top two executives in the lead-up to the financial crash. File photograph: Eric Luke

Former chairman says he tried ‘time and time’ again to get regulator to ‘wake up’

Yew Grove Reit said it will focus on properties in Dublin city and as far as a 30-minute commute of the M50 motorway, other major regional towns and cities, and IDA business and technology parks. Photograph: Dave Meehan

Yew Grove Reit targets long-term investors as it seeks to raise €100 million

Fyffes, synonymous with the McCann family, spun off and listed its property portfolio in 2006 on the junior Dublin and London stock markets as a company called Blackrock International Land.

Sumitomo disposes of interest in Balmoral Holdings to brothers Carl and David McCann

Sparkasse Bank Malta is understood to be targeting the smaller end of the depositary services market in Ireland.

Sparkasse Bank Malta plans to recruit up to six initially for Irish operation

Fiona Cairns, Edel Kennedy and Maura Ryan of UrbanVolt: the company was one of the first firms worldwide to sign up to the UN’s Global Lighting Challenge

Dublin-headquartered company hits target equivalent to the permanent switch-off of one million light bulbs

Greencore CEO  Patrick Coveney: he  pledged in mid-March to spend half his time in the US

Market reads IP’s promise to offer sweeteners to woo Smurfit Kappa as act of desperation

Both Apple and the Government are appealing the ruling on the grounds that Apple’s tax treatment was in line with Irish and European Union law.

European Commission ruled in 2016 that the State gave Apple €13bn in illegal tax aid

Lloyds handed back its Irish licences in 2010 and started to sell down the portfolio at pace.

Lloyds said that it will have to absorb a £110m loss on the loan sale

Ires Reit founding chief executive David Ehrlich earned a profit of €4.2 million on the sale of 11.79 million Ires shares to Capreit.

Shareholders and executives reap rewards of recovery driven by property supply shortage

Alan Walsh, CEO IPL Plastics at the company’s egm in Dublin. Photograph: Dave Meehan

Floatation in Toronto expected to raise about €125m for the Dublin-based company

About 90 per cent of the loans in the Project Redwood portfolio are more than two years behind in repayments. Photograph: Alan Betson

About 70 per cent of loans in Project Redwood portfolio are five years in arrears

KBC Bank Ireland released €43m  that had previously been set aside for bad loans. Photograph: Bryan O’Brien

Increase in house prices frees up €43m in bad loan provisions

Ulster Bank does not plan to close any outlets as part of the new restructuring. Photograph: Nick Bradshaw

Move comes on top of 200 job losses among staff addressing mortgage tracker scandal

A Smurfit Kappa plant. International Paper said on Wednesday that it will not mount a hostile bid for Smurfit Kappa.

Irish Takeover Panel sets three-week deadline for binding bid for cardboard box maker

Permanent TSB is in talks with regulators over €900m in loans. Photograph: Cyril Byrne

As investors show interest in Project Glas, €900m loans are classified as non-performing

Because much of the funds are in the form of pension investments, investors can access them only in accordance with stringent Revenue rules. Photograph:  Nick Bradshaw

Investors will soon hear about transfer on foot of High Court ruling

A number of insurers, including Beazley, Hiscox and XL Group, have outlined plans to establish EU hubs in Ireland to retain access to the EU market following Brexit

Insurer currently has operation in Dublin that operates as branch of its UK unit

Patrick Neary said he had advised Ifsra’s board in February 2008 that he intended “to deal quite strongly around” corporate governance and controls issues at INBS.

‘Disappointing’ that staff failed to spot governance issues until 2007, ex-regulator says

Con Horan resisted appearing before the INBS inquiry as he is now resident in the UK, the inquiry heard. File photograph: David Sleator

Inquiry to consider what steps to take over Con Horan’s failure to appear as scheduled

O’Brien probably rues not taking advantage of favourable market conditions in January

Smurfit Kappa chairman Liam O’Mahony said the IP bid “entirely fails to value the group’s intrinsic business worth and prospects”. Photograph: Cyril Byrne

Two US funds use derivatives accumulated combined 4.74 per cent interest

A preferred bidder may be selected as early as next week for the so-called Project Redwood portfolio

Ryanair lost 1.1% to €15.36 as Spanish pilots’ union SELPA broke off discussions with the airline over a union recognition agreement

Ryanair falls as talks with Spanish pilots’ union falter

Citibank’s building  on North Wall Quay in Dublin’s Docklands: firm started off in the Republic in 1965 and currently has 2,500 employees.  Photograph: Alan Betson

Reduction in profits partly result of rise in Citibank Europe loan impairment losses

Digicel chairman Denis O Brien: “Digicel is pleased to confirm that much of the planned ZTE-related roll-out in Digicel markets is already complete, with good optionality to complete all remaining markets in a timely manner and we don’t see any issues.”

Shenzhen-based ZTE was hired to upgrade Digicel network but US sanctions have hit it

Yew Grove Reit said it will focus on properties in Dublin city and as far as a 30-minute commute of the M50 motorway (above), other major regional towns and cities, and IDA business and technology parks.  Photograph: Dave Meehan

Irish real-estate investment trust is preparing to float in Dublin and London this month

Ulster Bank: a sale of the €1.6 billion portfolio would lower the bank’s non-performing exposures ratio to 10-11 per cent.  Photograph Nick Bradshaw

Regulators and Oireachtas committee members clash over attitude of vulture funds

The NTMA has sold €11.25 billion in bonds so far this year. Photograph: iStock

Bonds due in 2022 carry yield of 0.02%

INBS picked Wall Street investment bank Goldman Sachs in September 2007 to conduct a long-awaited sale of the building society.

Wall Street firm was hired to manage abortive sale of building society before crash

Central Bank governor Philip Lane said the bank’s headline profits will decline over the medium term, as the impact of the special portfolio of IBRC-related bonds fade.

Bank to pay €2.1bn dividend to the exchequer after its profits grew in 2017

Figure marks  26% rise on €225m made by ultra tax-efficient special purpose vehicles to service providers in Dublin’s International Financial Services Centre in 2016, according to the Central Bank. Photograph: Alan Betson

Growing use of tax-efficient special purpose vehicles by Russian groups in sharp focus

Times Square ad for Bank of America: banking giant said last year it aims to merge its existing Irish banking subsidiary with its main bank in London to create its main European banking entity, based in Ireland.

Five executives to move from London, along with 125 other relocations linked to Brexit

Regulators had been sufficiently concerned about controls in INBS in late 2003 to increase the minimum level of capital held to 10 per cent of risk-weighted assets, the inquiry heard.

Regulators imposed ‘quite stringent’ requirements at INBS before financial crisis

Bank of Ireland has seen  a 50% surge  in mortgage appointments conducted outside its branches this year

Competition forces banks to visit potential customers in their workplaces and homes

Attestor, founded in 2011, focuses on investing in European businesses that are growing or in need of restructuring. Photograph: Akos Stiller/Bloomberg

Deal may ultimately open new funding avenue for buy-to-let lender Dilosk

Dermot Desmond owns a 33% stake in Rietumu Banka. Photograph:  Dara Mac Dónaill

Auditors focus on bank’s provision against €80 million French court fine last year

 Gary McGann: has also had his hands full with managing defections of senior staff at the bookmaker. Photograph: Eric Luke / The Irish Times

Market value of group has fallen about 45 per cent since 2016 merger

Smurfit Kappa CEO Anthony Smurfit  and chairman Liam O’Mahony. The company  reported a 22% increase in ebitda to €340 million. Photograph: Aidan Crawley

Packaging group says results helped by €17 million drop year-on-year in price of fibre

Bank of Ireland staff at the lower end of three management pay grades, including branch managers, may receive a pay increase if they receive top ratings in performance evaluations.

Chief executive to outline five-year targets in June along with plan to cut costs further

The jump in the value of the Neart na Gaoithe 450MW project, capable of powering all homes in a city the size of Edinburgh, comes as the cost of developing offshore wind farms has fallen in recent years. Photograph:  iStock

Deal will pave the way for a grey market to commence for shares in green energy group

 Townsend Hook paper mill, operated by Smurfit Kappa Group plc, near Maidstone, UK:  International Paper has limited appetite to continue to pursue it if it keeps resisting a tie-up. Photograph: Luke MacGregor/Bloomberg

International Paper ready to walk away by end of July if advances continue to be resisted

Mainstream Renewable Power, the green energy group, was founded a decade ago by businessman Eddie O’Connor.

Cost of developing offshore wind farms has fallen in recent years

Irish Life’s owner, Great-West Lifeco said  net profit rose to €474.8 million in the first quarter. Photograph: Chris Bellew/Fennell Photography

Comapny has 1.3 million customers in life insurance, pension, investment and health

The tie-up between Cantor Fitzgerald Ireland and Merrion Capital comes at a time when management at Goodbody Stockbrokers and the firm’s majority owner, Fexco, are in advanced talks to sell the business to Chinese state-owned Zhong Ze Culture Investment Holdings

Rising regulatory and compliance costs will see wave of consolidation in finance industry

Rising regulatory and compliance costs are driving deals in the sector. Photograph: iStock

Deal comes as industry prepares for wave of consolidation

An anti-Brexit protester at work in London: Central Bank deputy governor Ed Sibley has said the insurance sector remains “astonishingly” unprepared for Brexit. Photograph: Reuters

‘One size fits all’ approach will not work, says insurance body president

Stamp duty came in below projections, raising questions about Minister for Finance  Paschal Donohoe’s expectations for the tax head. Photograph: Frank Miller

Department of Finance expects shortfall to unwind before end of the year

CRH chief executive Albert Manifold. Photograph: Cyril Byrne

Company enters into arrangement with UBS to repurchase ordinary shares on its behalf

Sources said  Lone Star Funds used Start Mortgages, an Irish authorised credit retail firm it acquired from Investec in 2014, to bid for the AIB portfolio.  Photograph: Nick Bradshaw

Market sources suggest that Lone Star and Cerberus have the edge over Goldman Sachs

Ulster Bank last week blamed “human error” for the missing money problem

Bank working with Central Bank to find root cause of temporary disappearance of money

Irish banking stocks were  out of sorts, with Permanent TSB declining 0.2 per cent to €1.75 and  Bank of Ireland dipping 0.2 per cent to €7.44. Photograph: Bloomberg

Smurfit Kappa was among the main decliners as investors adopt cautious view of bids

Nutgrove Shopping Centre in Rathfarnham in south Dublin, in which Davy’s Irish Property Fund holds a controlling stake.

Holdings in fund include controlling stake in Nutgrove Shopping Centre in Dublin

Edmond Scanlon, Kerry Group. Photograph: Dara Mac Dónaill

Ulster Bank’s tech woes should come at a price

 Cormac McCarthy as CEO Ulster Bank  in 2009. Photograph: Matt Kavanagh

Cormac McCarthy expected to be named chairman as planning for IPO firms up

Operating profit at RBS’s Ulster Bank  slumped almost 66 per cent in the first quarter. Photograph: Jane Barlow/PA Wire

McEwan vows to take hands-on approach to boosting performance of its Ulster Bank

Permanent TSB declined 1.6 per cent to €1.75. Photograph: Alan Betson

PTSB declines 1.6% to €1.75 as investors digest an uninspiring results from Ulster Bank

Ulster Bank chief executive Gerry Mallon. Photograph: Cyril Byrne / THE IRISH TIMES

Bank reports a €11m operating profit for first quarter, down from €32m last year

Daniele Nouy: she  outlined how banks could only reclassify split mortgages under a series of strict conditions. Photograph: Cyril Byrne

Regulatory obstacles may prompt bank to look more closely at securitisation deal

AIB chief executive Bernard Byrne and chairman Richard Pym: bank proposal entitled up to 100 senior executives to bonuses of up to 100 per cent of their salary. Photograph: Dara Mac Dónaill

Despite protests by investors, a decade after bailout banks still need push to do right thing

CRH chief executive Albert Manifold: “No good business is going to subsidise a bad business in CRH.” Photograph: Nick Bradshaw

Shareholders hear group will sell up to €2 billion worth of underperforming assets

Bank of Ireland’s 250-strong branch network is unaffected by the decision.  Photograph: iStock

Back office closure likely to see 200 employees leave bank

Ardagh chairman and chief executive Paul Coulson, hailed the benefits of scale and diversity as the company reported strong earnings Thursday despite falling sales at its US glass business. Photograph: Frank Miller

Strong performance in metals and European glass operations offsets falling sales and rising costs at North American glass business

Glanbia group managing director Siobhan Talbot. Firm’s Q1 revenues fell 8%. Photograph: Dylan Vaughan

Competitive dairy market pricing and planned investments hits Irish nutritionals group

The stock-market value of building materials giant CRH rose by 2.5 per cent to €24.5 billion. Photograph: Cyril Byrne

Sales fall 2 per cent in first quarter on back of poor winter weather and timing of Easter

Patrick Kehoe shakes hands with Richard Pym, chairman of AIB, after he received an apology for how his accounts had been handled by the bank at the AIB annual general meeting. Photograph: Dara Mac Dónaill/The Irish Times

AIB CEO warns on high executive turnover as incentive plans continue to be banned

Jane Howard

RBS executive Jane Howard expected to take top job in Dublin-based bank

The inquiry also heard Melody van der Berg, personal assistant to INBS’s then managing director, Michael Fingleton (above), had been unsuccessful in her efforts in December 2005 to secure minutes from credit committee member Tom McMenamin proving that the credit reviews were discussed. Photograph: Alan Betson

Executives circulated clashing reports on client credit reviews before property crash

Oisín Fanning. Image: San Leon Energy

Shares in oil and gas explorer soar as company highlights strengthened finances

IPL is expected to raise about €125 million when it lists later this year

Company formerly known as One51 is planning to raise €125m in Canadian flotation

Former minister for finance Michael Noonan speaks to media in September at the Department of Finance. Photograph: Alan Betson/The Irish Times

Paschal Donohoe knows the dangers inherent in AIB’s proposed share scheme

Shares in CRH, the largest company on the Iseq, jumped by 3.4 per cent to €3.40 on Friday. Photograph: Cyril Byrne

Weaker sterling helps Britain’s FTSE 100 outperform European markets

Bank of Ireland group CEO Francesca McDonagh and chairman Archie Kane during the  AGM in Dublin. Photograph: Gareth Chaney/ Collins

Bank of Ireland makes €130m in redress offers to people caught up in tracker scandal

CRH chief executive Albert Manifold in  a Roadstone Cement Quarry in Dublin. Photograph: Cyril Byrne

Building relationships key to how Albert Manifold runs Ireland’s biggest publicly quoted company

CRH chief executive Albert Manifold: New York listing is “something we keep under review with our advisers”. Photograph: Cyril Byrne

Shares buyback remains under consideration, says Albert Manifold

A major shareholder in INM wants the company to draw a line under the legal issues dragging on the stock. Photograph: Alan Betson

Board listened to proposal but did not adopt position on it

Minister for Finance Paschal Donohoe: “I’m very clear that any changes in relation to compensation for the banking sector will have to be led by the Government.” Photograph: Getty Images

Paschal Donohoe to abstain from voting on Bank of Ireland remuneration resolution

International Paper is seeking to acquire Smurfit Kappa in a cash and stock transaction. Photograph: Luke Mac Gregor/Bloomberg

International Paper’s proposal would leave shareholders with 15% stake in a combined group

Rush Credit Union. Photograph: North County Leader

Central Bank issues prohibition notice to former union’s assistant manager

Smurfit Kappa revealed, on March 26th,  that it had rejected a second bid from International Paper in the space of a month.

Move could lead to successful takeover bid after previous rebuffs of International Paper

Deutsche Bank chief country officer for Ireland Fiona Gallagher, who has been appointed to the role of global head of the bank’s securities services division. Photograph: Alan Betson

Securities role comes amid deep restructuring of management at loss-making bank

Employees exiting from the Eir Group headquarters at Heuston South Quarter on Thursday after news of 750 redundancies was announced. Photograph: Alan Betson

Meanwhile it appears investors in the bonds issued by Rusal Capital in Ireland are trapped

Former Paddy Power chief executive Patrick Kennedy has been named as the new chairman of Bank of Ireland.

Patrick Kennedy will take up role in July after departure of Archie Kane

Departing Eir staff are being offered five weeks’ pay per year of services, capped at two years’ pay, according to sources.  Photograph: Alan Betson

Cost-cutting plan announced days after French takeover of phone group

 Barta’s development and construction director   Grainne Hollywood, CEO Mike Flannery and founder Richard Barrett. Photograph: Mark Maxwell

Firms spend almost €15m on office blocks near Phoenix Park and Citywest campus

Former Irish Nationwide MD Michael Fingleton: “It was very important that that information would be confined.” Photograph: Alan Betson / The Irish Times

Failed lender wanted to reassure its staff as financial crisis took hold, says Fingleton

Eir has announced plans for 750 redundancies. Photograph: Eric Luke

Move comes in same week as firm taken over

Aluminium ingots  stored at the foundry shop of the Rusal Krasnoyarsk aluminium smelter in the Siberian city of Krasnoyarsk, Russia, last year. Photograph: Ilya Naymushin/Reuters

Moody’s and Fitch have now pulled their ratings on Rusal and its Irish funding vehicle

Bank of Ireland at College Green. Bank of Ireland UK and the Post Office have also  launched a mortgage product for first-time buyers where they can raise a 10% deposit against a close relative’s property

New product will allow retirees take out a mortgage and use a portion of their pension to help fund it

Quadrant, backed by Australian pension fund money, entered Ireland in 2015 to part fund the €29 million purchase of Clerys by Irish investment group D2 Private, led by Deirdre Foley, and Cheyne Capital Management in the UK.

Company expects Brexit to boost demand for Irish office space in the coming years

Kerry Group lost 1.8 per cent to €82.85. Photograph:  Dara Mac Dónaill

Market heavyweights Ryanair, Kerry Group and CRH decline but Cairn bucks trend

Depfa Bank in Dublin. Figures contained in Depfa’s annual report suggest the bank was sitting on as much as €812 million of excess equity capital. Photograph: Cyril Byrne

German bank likely to strip out Dublin-based bank’s excess capital before seeking disposal

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