Padraic's Feed
Apr 30, 2013

Ireland proposes limited access to abortion amid heated debate

DUBLIN (Reuters) – Irish government ministers agreed draft legislation on Tuesday to allow for limited access to abortion where a woman’s life is in danger, including the threat of suicide, a proposal that has already divided the country’s ruling coalition.

Ireland’s two-decade-old debate over how the government should deal with a Supreme Court ruling that abortion be permitted when a woman’s life was at risk was re-opened last year following the death of a woman who was denied an abortion of her dying foetus.

Apr 30, 2013

Ireland may spend any spare budget cash rather than ease austerity

DUBLIN (Reuters) – Ireland may spend any spare cash from future budgets rather than ease austerity measures, Finance Minister Michael Noonan said on Tuesday, after it left its plans to cut spending by 5.1 billion euro ($6.7 billion) for the next two years unchanged.

Ireland has consistently beaten deficit goals set under its EU/IMF bailout agreement, and the European Central Bank cut it some slack on future targets in February when it delivered savings on its debt servicing.

Apr 29, 2013

Ireland name Leinster’s Schmidt as new coach

DUBLIN (Reuters) – Leinster’s double Heineken Cup-winning coach Joe Schmidt was named as Ireland’s new coach on Monday, a popular choice who will be charged with picking up the Irish after their worst Six Nations in 14 years.

The New Zealander takes over from Declan Kidney whose five-year tenure that began with a first Six Nations grand slam in 61 years ended this month with his side narrowly avoiding a first wooden spoon since a whitewash in 1998.

Apr 29, 2013

Rugby-Ireland name Leinster’s Schmidt as new coach

DUBLIN, April 29 (Reuters) – Leinster’s double Heineken Cup-winning coach Joe Schmidt was named as Ireland’s new coach on Monday, a popular choice who will be charged with picking up the Irish after their worst Six Nations in 14 years.

The New Zealander takes over from Declan Kidney whose five-year tenure that began with a first Six Nations grand slam in 61 years ended this month with his side narrowly avoiding a first wooden spoon since a whitewash in 1998.

Apr 28, 2013

Europe austerity debate to test periphery political will

DUBLIN, April 28 (Reuters) – Readers of Ireland’s
largest-selling daily newspaper were confronted by an unexpected
front page headline this week when the Irish Independent
proclaimed the ‘End Of Austerity’.

In a country that began cutting spending and hiking taxes
almost five years ago, well before the scale of the euro zone’s
debt crisis was evident, weary Irish voters have more interest
than most in the fresh debate over Europe’s cornerstone policy.

Apr 24, 2013

Elan tees up deals as sales of prized drug rise sharply

DUBLIN (Reuters) – Irish drugmaker Elan Corp said it is teeing up a number of deals under a plan to reshape the company through acquisitions and stave off a bid from investment firm Royalty Pharma.

Elan, involved in a convoluted takeover saga with Royalty for the past two months, had on Monday rejected a reduced $11.25 per share bid from Royalty, saying it grossly undervalued its prospects.

Apr 22, 2013

Elan rejects Royalty bid as grossly undervaluing its prospects

DUBLIN, April 22 (Reuters) – Irish drugmaker Elan
rejected a reduced $11.25 per share bid from Royalty Pharma
, putting the ball back in the U.S. investment
company’s court in an increasingly convoluted takeover saga.

Royalty made its initial approach in February, attracted by
the promise of lucrative revenues from Elan’s multiple sclerosis
drug Tysabri. But Elan has fought to maintain its independence
through a series of manoeuvres designed to frustrate the bid,
which is contingent on 90 percent acceptances.

Apr 18, 2013

J&J stake sale clouds Royalty bid for Elan

DUBLIN/NEW YORK (Reuters) – U.S. healthcare firm Johnson & Johnson (JNJ.N: Quote, Profile, Research) cut its stake in Elan Corp (ELN.N: Quote, Profile, Research) on Thursday in a move that clouds prospects for a $7.3 billion (4.7 billion pounds) takeover bid for the Irish drugmaker.

U.S. investment firm Royalty Pharma on Monday made an improved $12 per share bid for Elan, which has rejected its suitor’s overtures and wants to remain an independent company.

Apr 18, 2013

Elan bid to fend off Royalty handed boost in buyback

DUBLIN/NEW YORK, April 18 (Reuters) – Elan
shareholders gave the Irish drugmaker a boost in its hopes of
fending off a $7.3 billion bid from Royalty Pharma when they
ignored a plea from the U.S. investment firm to tender stock at
a high price at a buyback on Thursday.

Royalty, which sweetened its offer for Elan this week, urged
shareholders to “send a message to the Elan board” by tendering
all of their stock at $11.75 or $12 to fully benefit from its
$12 per share offer.

Apr 16, 2013

Irish unions reject pay deal, warn of trouble ahead

DUBLIN (Reuters) – A majority of Irish public sector workers rejected a new pay deal on Tuesday and warned the government against unilaterally cutting wages, giving it a headache as it seeks to exit an EU-IMF bailout later this year.

The government and the country’s main unions agreed in February to extend a three-year-old pay deal that has been credited with avoiding the kind of industrial unrest seen in other euro zone countries hit by debt woes.