Deutsche fears mortgage crisis to 'force second Irish bailout'
THE spiralling mortgages crisis could trigger another multi-billion recapitalisation of our banks and force Ireland into a 'second bailout', German banking giant Deutsche claimed yesterday.
Independent.ie - Business RSS Feed

Eircom creditors vote for scheme
THE scheme to hand Eircom to secured lenders moved a step closer yesterday after it got the nod at creditors' meetings in Dublin. Two classes of creditors voted by significant majorities in favour of the proposals. Yesterday "first lien" lenders, owed €2.7bn, voted by 70pc in terms of value and 66pc by number of institutions in favour of the plan. "Second lien" lenders, owed €350m, also backed the scheme, with 72pc by amount owed and 56pc by number of lenders in favour.
Independent.ie - Business RSS Feed

Obama calls for 'growth' to tackle euro crisis
US president also wants G8 to focus on budget cuts in Europe
Independent.ie - Business RSS Feed

Rehn forced to deny plans for dealing with Greece euro exit
TENSION and confusion over Greece's possible exit from the eurozone reached a new high yesterday with two members of the European Commission at odds over whether plans were being considered to cope with a Greek exit.
Independent.ie - Business RSS Feed

Cost cutting ahead of target at INM
INDEPENDENT News & Media reported that better-than-expected success in cost cutting in the early months of 2012 offset a small decline in revenues in the first 19 weeks of the year.
Independent.ie - Business RSS Feed

NAMA to spend over €10m on completion of apartment block
NAMA is stumping up more than €10m to complete a Dublin apartment block that's been half-built since the start of the property crash, the Irish Independent has learned.
Independent.ie - Business RSS Feed

Hawk alights in Paris
THE euro area got a new finance minister this week following the appointment of Pierre Moscovici as French finance minister.
Independent.ie - Business RSS Feed

Greece spoiling Irish efforts -- Bini Smaghi
IRISH hopes of avoiding a second bailout are being hurt by the latest crisis in Greece, former ECB executive board member Lorenzo Bini Smaghi claimed yesterday.
Independent.ie - Business RSS Feed

Government makes request to extend bank guarantee
THE Government has formally asked the European Commission for permission to extend Ireland's infamous bank guarantee scheme until the end of the year.
Independent.ie - Business RSS Feed

LSE's expansion drives 35% surge in earnings
THE LONDON Stock Exchange yesterday reported that full-year profits had risen a third as it expanded through acquisitions and focused on new markets such as clearing and technology sales.
The Irish Times - Finance

Graff plans $1bn listing in Hong Kong
GRAFF DIAMONDS will market shares for its $1 billion (€786 million) listing in Hong Kong in a range of HK$25-HK$37, people familiar with the process said yesterday.
The Irish Times - Finance

Facebook fails to inspire US markets
FACEBOOK’S FLOTATION on Nasdaq may have been the main story in the US yesterday, but in Europe markets continued to be held hostage by ongoing euro zone volatility, as most markets closed down.
The Irish Times - Finance

Rainy days get pub and food chain profits down
MITCHELLS & BUTLERS, the pub and restaurant group, has blamed a rainy April and exceptional costs for a shrinking of interim pre-tax profits.
The Irish Times - Finance

Cantillon
Inside the world of business
The Irish Times - Finance

Strong growth leaves Kentz with $2.46bn in contracts on books at end of April
Engineering group Kentz had contracts worth $2.46 billion (€1.93 billion) on its books at the end of last month, the company told shareholders yesterday.
The Irish Times - Finance

Days of 'golden parachutes' in banking clearly over
ANALYSIS:AIB’s redundancy offer pales in comparison with deals made early in the crisis at other banks
The Irish Times - Finance

Permanent TSB announces internal audit head
State-controlled Permanent TSB has appointed Paul Redmond as head of internal audit. He will join from Goodbody Stockbrokers where he held the same role.
The Irish Times - Finance

Irish students are among the award winners at international science fair
Two of the three Irish projects in the Intel International Science and Engineering Fair 2012 in Pittsburgh, Pennsylvania, have won awards.
The Irish Times - Finance

Ex-Payzone chief seeks injunctions against bank
The former chief executive of a card-payment company and his wife are seeking High Court injunctions over a bank’s alleged failure to obey a court ruling relating to an appeal over a €5.1 million mortgage on their family home.
The Irish Times - Finance

Revenue falls 3.5% at INM since start of year
INDEPENDENT NEWS Media’s revenues in the 19 weeks to May 11th fell by 3.5 per cent year on year in constant currency terms or 5.2 per cent in euro terms, according to an interim management statement issued yesterday.
The Irish Times - Finance

Soaring fuel charges hit ICG profits
IRISH CONTINENTAL Group (ICG) saw revenue and profit fall as freight volumes fell off and soaring fuel charges inflated operating costs.
The Irish Times - Finance

Fruit company thinks time is ripe for acquisitions
Fruit company Total Produce indicated that it plans further acquisitions, when it reiterated its guidance for the year.
The Irish Times - Finance

Investors flee to safe haven assets, wiping 2012 gains
WORLD STOCKS erased the year’s gains yesterday as investors fled risky investments for safe-haven assets on concerns about the euro zone’s deepening debt woes, while US stocks lost ground after the market debut of social network Facebook.
The Irish Times - Finance

Facebook pulls off third biggest initial float in history
FACEBOOK BEGAN trading on the Nasdaq stock exchange yesterday morning, in the third-biggest initial public offering (IPO) in history.
The Irish Times - Finance

IFG 'performing' despite downturn
FINANCIAL SERVICES group IFG has disclosed that it is “performing well” despite the difficult market environment.
The Irish Times - Finance

€10m Nama loan to help complete Beacon site
THE NATIONAL Asset Management Agency is to provide a €10 million loan for the completion of a residential and commercial development at Beacon South Quarter in Sandyford.
The Irish Times - Finance

Mortgage lending down by 19%
NEW MORTGAGE lending fell 19 per cent to €450 million in the first three months of the year, the lowest rate of year-on-year decline since the first quarter of 2007.
The Irish Times - Finance

Eircom creditors back debt reduction
EIRCOM MOVED a step closer to exiting examinership successfully yesterday after its creditors gave the necessary support to a scheme of arrangement that will reduce the company’s gross debts to €2.35 billion from the current level of €4 billion.
The Irish Times - Finance

AIB, Bank of Ireland payouts capped at €225,000 or two years' salary
AIB AND Bank of Ireland have announced long-awaited details of voluntary redundancy payouts on offer to about 3,500 staff who could leave the two “pillar” banks.
The Irish Times - Finance

Rising level of bad loans adds to Spain's economic crisis
SPANISH BANKS’ bad loans rose in March to their highest in 18 years, underscoring the problems facing the government as it drafts in independent auditors in an attempt to reassure investors it can clean up the sector.
The Irish Times - Finance