Conor's Feed
Apr 9, 2013

Irish financial regulator Elderfield to step down

DUBLIN, April 9 (Reuters) – Ireland’s financial regulator
Matthew Elderfield said on Tuesday he would quit after three
years in which he overhauled a dysfunctional system of bank
oversight and pressed lenders to deal more quickly with bad
debts.

Elderfield was hired in 2010 to overhaul a watchdog that had
failed to rein in years of reckless lending that pushed the
Irish economy and banking sector to the brink.

Mar 28, 2013

Moody’s dashes Irish upgrade hopes, cites Cyprus

DUBLIN, March 28 (Reuters) – Credit agency Moody’s dashed
Irish hopes of an investment grade rating in the wake of its
landmark 10-year bond issue, saying Cyprus’ “unprecedented”
bailout increased the risks associated with holding Irish debt.

Moody’s, the only agency that ranks Ireland’s debt as
‘junk’, said on Thursday that, despite the country’s steady
progress in regaining market access, it was maintaining its Ba1
rating with a negative outlook.

Mar 22, 2013

France, Britain fail to win easing of Syria arms ban

DUBLIN (Reuters) – France and Britain failed to persuade the European Union to back their call to lift an arms embargo on Syrian rebels on Friday despite warning that President Bashar al-Assad could resort to using chemical weapons.

Paris and London want to exempt Assad’s opponents from an EU arms embargo, a step they believe would raise pressure on Assad to negotiate after two years of a civil war that has claimed 70,000 lives.

Mar 22, 2013

France, UK press to lift EU arms ban for Syria rebels

DUBLIN (Reuters) – France and Britain stepped up their drive on Friday for the European Union to lift its arms embargo to help Syrian rebels, but ran into strong opposition from other member countries who said sending more weapons could worsen the crisis.

British Foreign Secretary William Hague said as he arrived for an EU foreign ministers’ meeting in Dublin that there was a “very strong case” for lifting or seriously amending the ban on sending weapons to the opposition when EU sanctions on Syria come up for renewal on June 1.

Mar 21, 2013

Ireland’s economy grew for a second year in 2012, slow exports cloud outlook

DUBLIN (Reuters) – Ireland was one of the best-performing economies in the euro zone last year, continuing a gradual recovery from its financial crisis, though it tailed off in the second half as exports stalled, official data showed.

The country, which last week took its biggest step yet towards exiting an EU/IMF bailout later this year by selling 5 billion euros ($6.5 billion) of 10-year debt, is one of few euro zone economies to have managed to eke out mild growth.

Mar 19, 2013

Boeing signs $15.6 billion landmark order with Ryanair

DUBLIN (Reuters) – Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) announced a $15.6 billion order for 175 passenger jets from Boeing (BA.N: Quote, Profile, Research, Stock Buzz) on Tuesday in a deal that will allow the Irish airline to consolidate its position as Europe’s dominant low-cost carrier.

The order for the 738NGs keeps Ryanair as one of the few remaining all-Boeing airlines, after Lion Air of Indonesia switched to rival planemaker Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) on Monday in a $24 billion mega-order.

Mar 13, 2013

Ireland takes biggest step yet out of bailout with bond sale

DUBLIN, March 13 (Reuters) – Ireland took its biggest step
yet towards exiting its European bailout later this year by
selling 5 billion euros ($6.5 billion) of new benchmark 10-year
bonds on Wednesday to meet nearly all its funding needs through
next year.

Rescued two-and-a-half years ago after being overwhelmed by
fiscal and banking crises, Ireland has hit every major target
since and has been held up by euro zone leaders as the success
story their austere plans desperately need.

Mar 11, 2013

Betting site Intrade halts trading over irregularities

DUBLIN (Reuters) – Irish online betting exchange Intrade, which let customers stake cash on everything from the Papal conclave to the date of the next major terror attack, said it had ceased trading after the discovery of possible financial irregularities.

Intrade, whose users bought or sold shares representing the likelihood of an event occurring, said it had closed and credited all open bets as of the end of business on Sunday to customer accounts.

Feb 27, 2013

EU regulators block Ryanair’s third bid for Aer Lingus

BRUSSELS/DUBLIN, Feb 27 (Reuters) – EU antitrust regulators
have blocked a third attempt by Ryanair to buy Irish
rival Aer Lingus, a ruling Europe’s biggest low-cost
airline called politically motivated and vowed to challenge in
court.

The European Commission, which vetoed Ryanair’s first
takeover bid for Aer Lingus in 2007, said on Wednesday Ryanair
had not offered sufficient concessions to allay concerns about
the combined company’s dominance or monopoly on 46 routes.

Feb 27, 2013

Ireland’s prospects for producing oil to become clear in 2013

DUBLIN, Feb 27 (Reuters) – Ireland’s prospects for cashing
in on its offshore oil and gas reserves will become clear in
2013 as a series of tests determine whether a recent flurry of
interest can be converted into commercial production.

Hopes that oil production will provide revenue for a
debt-laden government and a path towards energy independence
picked up last year after Irish explorer Providence Resources
reported the first commercially viable oil-flow rate at
its first drilling target, Barryroe.