Padraic's Feed
May 29, 2015

Allied Irish names new CEO ahead of possible sale

DUBLIN, May 29 (Reuters) – Allied Irish Banks (AIB)
appointed Bernard Byrne as chief executive with immediate effect
on Friday, handing the bank’s head of retail and business
banking the job of returning Ireland’s second biggest lender to
private ownership.

Byrne, an accountant who was finance director of electric
utility ESB prior to joining AIB in 2010, succeeds David Duffy
who announced his resignation in January, just a week after the
government appointed advisers to kick off the sale of its shares
in the bank.

May 28, 2015

Irish retail sales rise at fastest pace since crisis

DUBLIN, May 28 (Reuters) – Irish retail sales volumes rose
11.9 percent in April compared with the same month a year ago,
the fastest annual rise since the financial crisis began as the
economy’s recovery broadened and gathered further pace.

Ireland’s economy grew by 4.8 percent last year, its best
performance since 2007 and the fastest growth in the EU as it
rebounded from a debt crisis that forced the government into
years of steep tax hikes and deep spending cuts.

May 28, 2015

Getting tough on banks would have gone against Irish government policy- ex-regulator

DUBLIN, May 28 (Reuters) – Cracking down on Ireland’s banks
before the 2008 financial crash would have conflicted with
government policy to promote the country as a financial services
centre, former regulator Patrick Neary told a parliamentary
inquiry on Thursday.

Ireland’s banks ultimately had to be rescued in an
international bailout costing 64 billion euros ($69.97 billion),
which, at almost 40 percent of annual economic output, was the
most expensive in the euro zone.

May 27, 2015

Irish regulators faced more than David and Goliath battle -official

DUBLIN, May 27 (Reuters) – Comparing the task that
outnumbered Irish regulators faced during its financial crisis
to a battle of “David and Goliath” would be an understatement,
Ireland’s former banking supervision head told a parliamentary
inquiry on Wednesday.

Leading up to the euro zone’s most expensive bank bailout,
Ireland had just two three-person teams supervising its domestic
banks of Bank of Ireland, Anglo Irish Bank, Allied
Irish Bank and Irish Life and Permanent, Mary Burke
said.

May 26, 2015

Irish government backs sale of Aer Lingus to IAG

DUBLIN (Reuters) – The Irish government agreed on Tuesday to sell its 25 percent stake in Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz) to IAG (ICAG.L: Quote, Profile, Research, Stock Buzz), paving the way for the owner of British Airways and Iberia to make a formal bid to buy the Irish carrier.

International Consolidated Airlines Group’s (IAG) proposed 1.36 billion euro ($1.48 billion) offer for Aer Lingus was recommended by the Irish airline’s board in January but is still conditional on receiving the support of its other main shareholder, Ryanair.

May 26, 2015

Irish government says decision on Aer Lingus sale imminent

DUBLIN, May 26 (Reuters) – The Irish government expects to
make a decision later on Tuesday on the potential sale of its 25
percent stake in Aer Lingus to IAG, the owner
of British Airways and Iberia which offered to buy the Irish
carrier in January.

International Consolidated Airlines Group’s (IAG) proposed
1.36 billion-euro bid for Aer Lingus was backed by the Irish
airline’s board in January but is conditional on the support of
its two main shareholders, rival Ryanair and the Irish
state.

May 24, 2015

Irish voters back gay marriage in ‘social revolution’

DUBLIN (Reuters) – The people of Ireland backed same-sex marriage by a landslide in a referendum that marked a dramatic social shift in a traditionally Catholic country that only decriminalized homosexuality two decades ago.

After one of the largest turnouts in a referendum there, 62 percent of voters said ‘Yes’, making Ireland the first country to adopt same-sex marriage via a popular vote.

May 23, 2015

Gay Ireland hails ‘a new Republic’ as same-sex marriage approved

DUBLIN, May 23 (Reuters) – Gay couples flocked to central
Dublin to celebrate a “historic watershed” on Saturday as a
large majority in the traditionally Catholic country voted to
allow same-sex marriage, the culmination of a four-decade
struggle for gay rights.

Waving rainbow flags, embracing and crying, two thousand
people gathered to watch the official results in the courtyard
of Dublin Castle after voters, young and old, accounted for one
of the highest turnouts in a referendum for decades.

May 23, 2015

Ireland backs gay marriage in historic vote, ministers say

DUBLIN (Reuters) – Ireland appears to have voted heavily in favor of allowing same-sex marriage in a historic referendum that marks a dramatic social shift in the traditionally Catholic country, government ministers and opponents of the bill said on Saturday.

Final results are not expected until later in the day in a vote that would make Ireland the first country to adopt same-sex marriage via a popular vote, just two decades after the country decriminalised homosexuality.

May 22, 2015

Irish vote on gay marriage in landmark referendum

DUBLIN (Reuters) – The Irish voted on Friday on whether to allow gay marriage, just two decades after Ireland became the last country in Western Europe to decriminalize homosexuality.

With the once mighty Catholic Church’s influence ravaged by child abuse scandals, opinion polls indicated the proposal would pass by as much as two-to-one, making Ireland the first country to adopt same-sex marriage via a popular vote.