Conor's Feed
Jul 12, 2012

Irish economy shrinks in Q1, but exports robust

DUBLIN, July 12 (Reuters) – Ireland’s economy shrank by 1.1
percent in the first quarter of the year but robust growth in
exports, which weathered the slowdown in the global economy,
gave the government hope of staying on top of its bailout
targets.

Growth for 2011 was revised sharply upwards to 1.4 percent
from a provisional 0.7 percent, the Central Statistics Office
(CSO) confirmed on Thursday after inadvertently releasing the
data for a short period a day ahead of schedule.

Jun 27, 2012

Britain’s queen shakes hands with ex-IRA chief

BELFAST (Reuters) – Britain’s Queen Elizabeth shook the hand of former Irish Republican Army (IRA) commander Martin McGuinness for the first time on Wednesday, drawing a line under a conflict that cost the lives of thousands of soldiers and civilians, including that of her cousin.

The meeting with McGuinness, who is now the deputy first minister of British-controlled Northern Ireland, comes 14 years after the IRA ended its war against Britain’s claim to the province, and is one of the last big milestones in a peace process whose success has been studied around the world.

Jun 26, 2012

British Queen, ex-IRA chief to seal end to conflict

BELFAST (Reuters) – Britain’s Queen Elizabeth is to shake the hand of a once-feared commander of the Irish Republican Army on Wednesday to draw a line under one of Europe’s bitterest conflicts, which cost the lives of thousands of soldiers and civilians, including her cousin.

The meeting with Martin McGuinness in a Belfast theatre, 14 years after the Irish Republican Army (IRA) ended its war against Britain’s claim to Northern Ireland, will be the final major handshake in a peace process whose success has been studied around the world.

Jun 26, 2012

Queen meets IRA victims before landmark handshake

BELFAST (Reuters) – The Queen is to shake the hand of a once-feared commander of the Irish Republican Army on Wednesday to draw a line under one of Europe’s bitterest conflicts, which cost the lives of thousands of soldiers and civilians, including her cousin.

The meeting with Martin McGuinness in a Belfast theatre, 14 years after the Irish Republican Army (IRA) ended its war against Britain’s claim to Northern Ireland, will be the final major handshake in a peace process whose success has been studied around the world.

Jun 25, 2012

Irish house prices see first monthly rise since 2007

DUBLIN, June 25 (Reuters) – Irish house prices posted their
first monthly rise since 2007 in May, data showed on Monday, in
the latest sign that the market is stabilising after the
bursting of an epic property bubble devastated the economy.

A stabilisation would ease pressure on the country’s banks,
whose mortgage portfolios have been devastated by the price
collapse. One in seven Irish home loans were not being fully
repaid in the first three months of the year.

Jun 21, 2012

Aer lingus rebuffs latest Ryanair bid

DUBLIN (Reuters) – Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz) called on its shareholders to reject a fresh bid from rival Irish airline Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) as analysts and investors questioned whether the deal would be allowed.

Aer Lingus said the surprise bid from Ryanair, made after the markets closed on Tuesday, undervalued the airline, also noting that Ryanair’s first offer was rebuffed by the European Commission while its second offer was withdrawn.

Jun 20, 2012

Doubts linger over new Ryanair bid for Aer Lingus

DUBLIN (Reuters) – Investors including the Irish government remained undecided about Ryanair’s (RYA.I: Quote, Profile, Research, Stock Buzz) latest bid to take over rival Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz), with some analysts questioning whether the deal would be allowed to go ahead.

Shares in Aer Lingus rose 17 percent on Wednesday, but this was well short of Ryanair’s offer at a 38 percent premium, reflecting market doubts about the deal.

Jun 19, 2012

Ryanair makes fresh bid for rival Aer Lingus

DUBLIN, June 19 (Reuters) – Ryanair launched a third
bid to take over Irish rival Aer Lingus on Tuesday,
offering shareholders a 38 percent premium to the market in a
deal that would require regulators to drop opposition to a
merger.

Europe’s largest budget carrier, which already owns just
under 30 percent of Aer Lingus, said in a statement after
markets closed that it would offer 1.30 euros per share in a bid
to secure at least 50 percent.

Jun 15, 2012

IMF says Ireland needs more help from Europe

DUBLIN (Reuters) – The International Monetary Fund on Friday urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout next year.

Dublin, which signed up to an 85 billion euro (68.98 billion pounds) EU/IMF bailout in late 2010, aims to return to long term debt markets later this year to help it prepare for the ending of official funding next year and meet borrowing needs of up to 20 billion euros in 2014.

Jun 13, 2012

Cyprus looking at EU, Russia, China for bailout

NICOSIA/DUBLIN (Reuters) – Cyprus is looking to Europe, Russia and China for the best possible bailout terms, officials said on Wednesday, and could seek as much as 4 billion euros ($5 billion), or more than a fifth of its economy.

Speculation is mounting that an international bailout for euro zone member Cyprus is imminent, but its communist government has kept markets guessing so far.