Padraic's Feed
Sep 19, 2013

Ireland exits recession but little room to ease austerity

DUBLIN (Reuters) – Ireland emerged from its second recession in five years in the second quarter but tepid growth left official forecasts for the year in doubt and may dash government hopes of easing up on austerity.

Ireland is set to become the first country to exit an EU/IMF bailout later this year after returning to debt markets but its economy still needs to start growing by more than 2 percent from next year on to help make its national debt sustainable.

Sep 6, 2013

Svensson marks special day with Sweden winner

DUBLIN (Reuters) – Anders Svensson marked his record-equalling 143rd international appearance with the winning goal as Sweden beat Ireland 2-1 on Friday to take a big step towards securing the keenly-contested World Cup qualifying Group C runners-up spot.

Svensson fired home just before the hour after Johan Elmander’s flying first-half header had cancelled out Robbie Keane’s early strike, his 60th goal for Ireland.

Sep 6, 2013

Soccer-Svensson marks special day with Sweden winner

DUBLIN, Sept 6 (Reuters) – Anders Svensson marked his record-equalling 143rd international appearance with the winning goal as Sweden beat Ireland 2-1 on Friday to take a big step towards securing the keenly-contested World Cup qualifying Group C runners-up spot.

Svensson fired home just before the hour after Johan Elmander’s flying first-half header had cancelled out Robbie Keane’s early strike, his 60th goal for Ireland.

Sep 6, 2013

Bidders to get peek at ex-Anglo Irish assets on Sept 16 – source

MUNICH/DUBLIN, Sept 6 (Reuters) – Buyers will get a first
glimpse of the assets left behind by collapsed Anglo Irish Bank
on September 16 when its liquidators open up the 3.5 billion
euros ($4.5 billion) pool of business loans for scrutiny, a
source familiar with the matter said.

The liquidators, KPMG, have until the end of the
year to sell the assets, or transfer them to the National Asset
Management Agency (NAMA), the state-owned “bad bank” which is
already one of the biggest property groups in the world.

Sep 4, 2013

Irish banks rely on legal threats to hit debt targets – MPs

DUBLIN, Sept 4 (Reuters) – Ireland’s largest banks have
relied too heavily on threatening legal action against mortgage
borrowers to meet central bank targets on bad debts, rather than
agreeing debt restructurings, lawmakers said on Wednesday.

The central bank has been pressing lenders to get to grips
with mortgage arrears, describing them as the main domestic
policy issue with one in five Irish home loans, worth 25 billion
euros ($32 billion), not being fully repaid.

Aug 29, 2013

Ex-Lone Star executive’s fund to set up Irish unit – source

DUBLIN, Aug 29 (Reuters) – A new private equity fund set up
by ex-Lone Star Vice Chairman Ellis Short to buy loan books
across Europe is establishing a unit in Ireland, a source close
to the matter said.

Irish property prices are rising again following a huge
crash and some property portfolios are being put up for sale,
drawing growing interest from private equity and investment
funds, particularly those in the United States.

Aug 28, 2013

Paddy Power eyes bumper World Cup as profit guidance dents shares

DUBLIN, Aug 28 (Reuters) – Irish bookmaker Paddy Power
held out the prospect of bumper takings from next
year’s soccer World Cup after full-year profit guidance for 2013
disappointed investors.

Shares in the group, hit by punter-friendly results in what
is a quiet year for major sporting competitions, were down 0.3
percent at 59.9 euros by 1514 GMT, continuing a falling trend
from highs above 70 euros earlier in the year.

Aug 28, 2013

Ireland fears the unthinkable – a Dublin property bubble

DUBLIN, Aug 28 (Reuters) – Five years after a huge property
crash devastated the Irish economy, prices are finally
stabilising, but a booming urban market where supply is scarce
and competition fierce is raising concerns about a new bubble in
the capital.

House prices quadrupled on a decade of easy credit during
the boom years that earned Ireland the sobriquet Celtic Tiger,
then fell by more than half from 2007, leading the country into
an EU/IMF bailout, a costly bank rescue and leaving almost one
in five homeowners behind on their mortgage payments.

Aug 28, 2013

Grafton sees recovery sustained in UK, 1st signs in Ireland

DUBLIN, Aug 28 (Reuters) – Home improvement and building
supplies group Grafton said recovery in Britain, its
main market, is likely to be sustained, while the Irish market
is showing the first tentative signs of recovery from a long
slump.

Grafton has weathered the collapse in housebuilding in
Ireland through an expansion in Britain, which now accounts for
over 90 percent of its profits.

Aug 20, 2013

Building suppliers’ moderate outlook hits shares

VIENNA/DUBLIN, Aug 20 (Reuters) – Two major European
building suppliers said on Tuesday they saw only gradual
stabilisation in Europe, disappointing markets that had expected
better news given recent positive economic data.

Wienerberger, the world’s largest brickmaker, said
construction activity in its major markets of France, Benelux
and eastern Europe was lagging the United States and Britain,
and Ireland’s CRH cut its full-year earnings outlook.