Padraic's Feed
Jan 28, 2015

Bank of England’s Carney warns euro zone of risks of timidity

DUBLIN (Reuters) – Euro zone leaders must take the controversial step of turning their currency area into a fiscal union, Bank of England Governor Mark Carney said on Wednesday, a call likely to be rebuffed by Germany.

Carney praised the European Central Bank for the “monetary policy boldness” of its plan last week to buy hundreds of billions of euros of government bonds to fight the “potentially dangerous” combination of weak growth and falling prices.

Jan 28, 2015

Irish central bank chief says Dublin has housing problem

DUBLIN (Reuters) – Dublin has a housing problem, Irish central bank governor Patrick Honohan said on Wednesday, as price rises continue to outstrip the rest of the country and the supply of new homes grows more slowly than expected.

Irish property prices are recovering after being cut in half by the bursting of a bubble in 2008.

Jan 27, 2015

Irish central bank eases mortgage rules for first-time buyers

DUBLIN, Jan 27 (Reuters) – Ireland’s central bank offered
relief to first-time house buyers as it finalised new
regulations on Tuesday to introduce curbs on mortgage lending
aimed at avoiding a repeat of the devastating 2008 property
crash.

The central bank proposed the tough new limits in October
before coming up against strong opposition from banks and the
government, who said the measures could push up rents, frustrate
potential homebuyers and have “unintended social
consequences”. ]

Jan 27, 2015

Aer Lingus board recommends $1.5 bln offer from BA-owner IAG

DUBLIN, Jan 27 (Reuters) – The board of Irish airline Aer
Lingus has recommended an improved 1.36-billion-euro
($1.52 billion) takeover offer from the owner of British Airways
which now must sooth government concerns to win shareholder
approval.

The new proposal from International Consolidated Airlines
Group (IAG), its third in six weeks, is worth 2.55 euros per
share, up from 2.40 euros, and includes a cash offer of 2.50
euros per share and a dividend of 0.05 euros.

Jan 27, 2015

Aer Lingus to recommend $1.5 billion offer from BA-owner – RTE

DUBLIN (Reuters) – Aer Lingus’s (AERL.I: Quote, Profile, Research) board is set to recommend an improved 1.36 billion euro (1 billion pounds) takeover offer from International Consolidated Airlines Group (IAG) (ICAG.L: Quote, Profile, Research), Irish national broadcaster RTE said.

The Irish airline said on Monday it was considering a third proposal in six weeks by the owner of British Airways. Without quoting any sources, RTE said it understood Aer Lingus would issue a statement when the stock exchange opens on Tuesday.

Jan 26, 2015

Aer Lingus says considering new $1.5 billion offer from BA-owner

DUBLIN (Reuters) – Aer Lingus (AERL.I: Quote, Profile, Research) said on Monday it was considering an improved 1.36 billion-euro ($1.52 billion) takeover offer from International Consolidated Airlines Group (IAG) (ICAG.L: Quote, Profile, Research), the third attempt by the owner of British Airways (BA) to buy its Irish rival.

For IAG a successful takeover would give it more of the highly valuable but scarce take-off and landing slots at London Heathrow, BA’s home base and a major European hub for international flights.

Jan 19, 2015

Irish central bank does not expect big changes to tougher mortgage proposals

DUBLIN, Jan 19 (Reuters) – Ireland’s central bank is
unlikely to water down proposals for tough new restrictions on
mortgage lending despite resistance from banks and the
government, its governor said on Monday.

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 new limits as prices
recover quickly amid a lack of supply in urban areas.

Jan 19, 2015

Allied Irish Banks CEO leaving to run NAB’s UK business

DUBLIN, Jan 19 (Reuters) – Allied Irish Banks (AIB)
Chief Executive David Duffy is stepping down to take over
National Australia Bank’s troubled British business
which he will try to revive ahead of a planned sale or stock
market listing.

Duffy will take over as CEO at National Australia Bank’s
Clydesdale Bank within the next few months, NAB said, as it
looks at ways to leave Britain after years of poor performance
and high charges to compensate customers for mis-selling.

Jan 19, 2015

Irish c.bank lending proposals not “socially acceptable” – fin ministry

DUBLIN, Jan 19 (Reuters) – Restrictions on mortgage lending
as currently proposed by Ireland’s central bank are not
“socially acceptable”, a senior official from the finance
ministry said on Monday.

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 new limits as prices
recover quickly amid a lack of supply in urban areas.

Jan 19, 2015

Allied Irish Banks says CEO David Duffy to resign

DUBLIN, Jan 19 (Reuters) – Allied Irish Banks (AIB)
Chief Executive David Duffy is stepping down to take over
National Australia Bank’s troubled UK business, just a
week after the Irish government appointed advisers to kick off
the sale of its shares in AIB.

Duffy, who joined AIB at the end of 2011 and has guided the
99-percent state-owned bank back to profit, will remain in
position to support the board in identifying his successor with
his final departure date to be agreed, the bank said.