Padraic's Feed
Dec 2, 2013

Central bank review dents Bank of Ireland’s capital cushion

DUBLIN, Dec 2 (Reuters) – Bank of Ireland’s capital
adequacy ratios suffered a sharp drop on Monday after the Irish
central bank said it needed to make extra provisions for loan
losses as part of an industry-wide review.

Bank of Ireland said it was not required to raise additional
capital after the health check, carried out ahead of Ireland’s
exit from an EU/IMF bailout scheme, but noted that it was still
in talks with the central bank about the results of the review.

Nov 28, 2013

Irish mortgage data suggests housing debt crisis may be easing

DUBLIN, Nov 28 (Reuters) – The number of Irish mortgages in
arrears for over 90 days rose at a slower pace in the third
quarter and fewer borrowers fell into early stage arrears in a
tentative sign that the home loan crisis may be stabilising.

Households’ bad debts are a major impediment to Ireland’s
hopes of economic recovery as it comes out of an international
bailout next month, deterring spending and raising questions
over whether banks will need more capital.

Nov 28, 2013

“I’m the fall-guy”: Insurer RSA’s Ireland CEO resigns over probe

DUBLIN (Reuters) – The head of insurer RSA’s (RSA.L: Quote, Profile, Research) Irish unit resigned on Thursday, saying he had become the “fall-guy” in an investigation into allegations of accounting problems at the business.

Britain’s largest general insurer is looking into alleged irregularities and accounting issues at the unit going back at least two years after an internal audit of the business triggered a second profit warning in a week.

Nov 28, 2013

Insurer RSA’s Ireland CEO resigns over investigation

DUBLIN, Nov 28 (Reuters) – The chief executive of UK-based
insurer RSA’s Irish unit resigned on Thursday, saying he
had become the “fall-guy” in an investigation into problems with
the Irish business unit.

Britain’s largest general insurer is looking into claims of
irregularities and accounting issues at the unit going back at
least two years after an internal audit of the business
triggered a second profit warning in a week.

Nov 28, 2013

Hibernia to launch second Irish REIT as market stabilises

DUBLIN, Nov 28 (Reuters) – Ireland’s Hibernia REIT plans to
raise 350 million euros ($475 million) in an initial public
offering, making it the second real estate investment trust
(REIT) to launch in the country’s stabilising property market.

It follows Green REIT into the newly legislated
sector and plans to build a portfolio consisting mainly of
commercial property – principally Dublin office space – that
would provide annual shareholder returns of 10-15 percent.

Nov 28, 2013

Ireland’s working emigrants reluctant to return home

DUBLIN, Nov 28 (Reuters) – When Toby Gilbert decided to
emigrate last year, he did not choose Australia over Dublin for
sunshine and sandy beaches. He just wanted a few more free hours
to see his wife.

Fed up with working punishing hours and barely seeing each
other, the two doctors were among almost 50,000 Irish people who
left the country permanently last year, a near four-fold
increase since Ireland’s economic crisis began in 2008.

Nov 24, 2013

Ireland devastated as first win over All Blacks slips away

DUBLIN (Reuters) – A hugely improved performance offered little consolation to Ireland on Sunday after they were seconds away from beating New Zealand for the first time in 108 years of trying, a devastated Joe Schmidt said.

The Ireland coach, who watched his side get swept aside by Australia in his second game in charge last week, elicited a major reaction against the All Blacks who trailed the fired-up hosts 19-0 after less than 20 minutes.

Nov 24, 2013

Rugby-Ireland devastated as first win over All Blacks slips away

DUBLIN, Nov 24 (Reuters) – A hugely improved performance offered little consolation to Ireland on Sunday after they were seconds away from beating New Zealand for the first time in 108 years of trying, a devastated Joe Schmidt said.

The Ireland coach, who watched his side get swept aside by Australia in his second game in charge last week, elicited a major reaction against the All Blacks who trailed the fired-up hosts 19-0 after less than 20 minutes.

Nov 24, 2013

Hansen and McCaw salute All Blacks after perfect year

DUBLIN (Reuters) – New Zealand coach Steve Hansen and captain Richie McCaw saluted a ‘special’ All Blacks team after they completed a clean sweep of victories this year with a last-gasp win over Ireland on Sunday.

Hansen’s team have set new standards since he took over from Graham Henry after the World Cup victory in 2011, losing just once before becoming the first team in the professional era to win all their test matches in a calendar year.

Nov 24, 2013

Rugby-Hansen and McCaw salute All Blacks after perfect year

DUBLIN, Nov 24 (Reuters) – New Zealand coach Steve Hansen and captain Richie McCaw saluted a ‘special’ All Blacks team after they completed a clean sweep of victories this year with a last-gasp win over Ireland on Sunday.

Hansen’s team have set new standards since he took over from Graham Henry after the World Cup victory in 2011, losing just once before becoming the first team in the professional era to win all their test matches in a calendar year.