Padraic's Feed
Nov 13, 2014

Irish lenders urge central bank to scale back mortgage rules

DUBLIN, Nov 13 (Reuters) – Ireland’s banks have urged the
country’s central bank to scale back proposals to restrict how
much they can lend to home buyers, warning that first-time
buyers could be priced out of the market.

The central bank wants to avoid any repeat of the reckless
lending and lax regulation that led to a devastating property
crash six years ago and has proposed the limits as prices
recover quickly amid a lack of supply in urban areas.

Nov 12, 2014

Ireland’s PTSB sees profit in 2016 as investment sought

DUBLIN, Nov 12 (Reuters) – Ireland’s permanent tsb (PTSB)
expects to be profitable by the end of 2016, earlier
than expected, and has held favourable early talks to raise
private capital, its chief executive said on Wednesday.

The 99.2 percent state-owned bank was the only Irish lender
to fail last month’s European bank stress tests and is seeking
to raise at least 100 million euros ($124.6 million) to fill the
portion of the capital shortfall it cannot fund itself.

Nov 11, 2014

Irish central bank urges caution on writing back provisions

DUBLIN, Nov 11 (Reuters) – Irish banks must tread carefully
before they begin to write back provisions on bad loans as a
result of a recovering property market and not bow to demands to
bolster profits, a senior central bank official said on Tuesday.

Irish property prices are recovering following a devastating
crash and are now 40 percent below a 2007 high versus the 55
percent peak-to-trough assumption Irish banks have provided for,
prompting some to raise the prospect of write-backs.

Nov 10, 2014

Writebacks begin as Allied Irish Banks sustains profitability

DUBLIN, Nov 10 (Reuters) – Falling bad debts allowed Allied
Irish Banks (AIB) to writeback provisions and build on
its capital reserves in the third quarter, the state-owned bank
said in a trading update on Monday.

The rescue of AIB that began in 2009 has cost Irish
taxpayers more than 20 billion euros ($24.9 billion), the most
given to any Irish bank still trading, but it marked a milestone
in its recovery when it returned to profit in the first half of
this year.

Nov 8, 2014

Deep Irish squad an excellent place to be – O’Connell

DUBLIN (Reuters) – The deep squad Ireland have built up is an “excellent place to be”, captain Paul O’Connell said on Saturday after his injury-depleted side powered to a 29-15 victory over South Africa.

Ireland were without seven of the team that clinched the Six Nations trophy in France last March, missing the likes of Sean O’Brien and Cian Healy and even losing flanker Chris Henry to illness hours before kickoff.

Nov 8, 2014

Ireland stand tall to ease past South Africa

DUBLIN (Reuters) – Depleted Ireland surged to a magnificent 29-15 victory over South Africa at the Aviva Stadium on Saturday to pick up where they left off in this year’s Six Nations championship.

South Africa came into the game fresh from beating world champions New Zealand but were overwhelmed in the second half by an Irish side without seven of the team that clinched the Six Nations trophy in France last March.

Nov 8, 2014

Rugby-Ireland stand tall to ease past South Africa

DUBLIN, Nov 8 (Reuters) – Depleted Ireland surged to a magnificent 29-15 victory over South Africa at the Aviva Stadium on Saturday to pick up where they left off in this year’s Six Nations championship.

South Africa came into the game fresh from beating world champions New Zealand but were overwhelmed in the second half by an Irish side without seven of the team that clinched the Six Nations trophy in France last March.

Nov 6, 2014

Pioneering James marvels as influence spreads far

DUBLIN (Reuters) – For must of his 40 years spent analyzing and writing about baseball, Bill James, the godfather of the sport’s data-driven “Moneyball” movement, was an outcast.

This week the 65-year-old Boston Red Sox advisor shared the stage with technology CEOs a third his age at Europe’s largest tech conference, Dublin’s Web Summit, watching on as sport was acknowledged as being a part of their world.

Nov 6, 2014

Baseball-Pioneering James marvels as influence spreads far

DUBLIN, Nov 6 (Reuters) – For must of his 40 years spent analysing and writing about baseball, Bill James, the godfather of the sport’s data-driven “Moneyball” movement, was an outcast.

This week the 65-year-old Boston Red Sox advisor shared the stage with technology CEOs a third his age at Europe’s largest tech conference, Dublin’s Web Summit, watching on as sport was acknowledged as being a part of their world.

Nov 6, 2014

ECB releases letter showing pressure ahead of Irish bailout

DUBLIN, Nov 6 (Reuters) – Then European Central Bank head
Jean-Claude Trichet told Ireland in November 2010 that it would
not extend further emergency funding to the country’s banks if
Dublin did not sign up to a bailout, according to a letter
published on Thursday.

The contents of the letter and other correspondence between
Trichet and then Finance Minister Brian Lenihan have been the
source of much speculation as to how much pressure the ECB put
on Dublin ahead of its application for aid.