Padraic's Feed
Jul 18, 2015

Report advises Irish government to increase minimum wage: source

DUBLIN (Reuters) – The body set up to advise Ireland’s government on the rate of the national minimum wage has recommended it be increased to 9.15 euros ($9.9) per hour from 8.65 euros, a government source said on Saturday.

The government last increased the minimum wage in 2011, reversing a 1 euro cut agreed by the previous administration under the terms of an international bailout, and established the Low Pay Commission to advise on further changes.

Jul 16, 2015

Ex-PM Ahern says Irish economy was sound when he quit in 2008

DUBLIN, July 16 (Reuters) – Former Irish Prime Minister
Bertie Ahern told a parliamentary inquiry on Thursday Ireland’s
economy was fundamentally sound when he resigned in 2008, six
months before a deep recession began and the country’s banking
system almost collapsed.

Ahern stood down after 11 years in charge in May 2008,
leaving his successor Brian Cowen to tackle the spectacular
bursting of a property bubble that culminated in a humiliating
international bailout two years later.

Jul 16, 2015

Immunocore raises $320 million in record financing round

DUBLIN (Reuters) – Immunocore completed Europe’s largest ever financing round by a private life sciences company on Thursday, raising $320 million from investors including Eli Lilly & Co (LLY.N: Quote, Profile, Research), Malin (MLCM.I: Quote, Profile, Research) and Woodford Investment Management.

The Oxford-based biotech company said it will use the proceeds to accelerate its pipeline of new medicines it calls ImmTACs, next-generation cancer drugs that fight tumours in ways antibody drugs cannot.

Jul 16, 2015

Britain’s Immunocore raises $320 mln in record financing round

DUBLIN, July 16 (Reuters) – Britain’s Immunocore completed
Europe’s largest ever financing round by a private life sciences
company on Thursday, raising $320 million from investors
including Eli Lilly & Co, Malin and Woodford
Investment Management.

The Oxford-based biotech compnay said it will use the
proceeds to accelerate its pipeline of new medicines it calls
ImmTACs, next-generation cancer drugs that fight tumours in ways
antibody drugs cannot.

Jul 15, 2015

Social Democrats latest new Irish party ahead of uncertain elections

DUBLIN, July 15 (Reuters) – Three independent Irish members
of parliament, including a former junior minister, set up a new
centre-left party on Wednesday, preparing for elections early
next year that could usher in a multi-party coalition.

The Social Democrats are among a number of new parties to
emerge in a bid to challenge one of the continent’s most stable
political systems seven years after Ireland was plunged into a
debilitating financial crisis.

Jul 10, 2015

IAG set to take over Aer Lingus after Ryanair, EU backing

DUBLIN/BRUSSELS (Reuters) – IAG (ICAG.L: Quote, Profile, Research) is set to complete its takeover of Aer Lingus (AERL.I: Quote, Profile, Research) after Ryanair (RYA.I: Quote, Profile, Research) said it would accept the offer and a source familiar with the matter told Reuters the British Airways-owner would gain conditional EU approval.

IAG’s plan to buy Aer Lingus and build a new transatlantic hub at Dublin airport depended on agreement from Ryanair, which holds a 30 percent stake in Aer Lingus, and the Irish government, which agreed to sell its 25 percent stake in May.

Jul 10, 2015

Ryanair plans to accept IAG offer for Aer Lingus

DUBLIN/LONDON (Reuters) – Budget airline Ryanair said it would accept IAG’s offer for its stake in Aer Lingus, paving the way for the British Airways-owner’s 1.3 billion euro ($1.5 billion) takeover of the Irish carrier to go ahead.

European Union approval for the deal is now the last remaining hurdle to IAG’s plan to buy Aer Lingus and expand capacity on lucrative transatlantic routes by building a new hub at Dublin airport.

Jul 8, 2015

Ex-PM Cowen says some sought to “bounce” Ireland into bailout

DUBLIN, July 8 (Reuters) – Former Prime Minister Brian Cowen
said some members of European Union institutions, including the
European Central Bank, tried to “bounce” Ireland into a bailout
in the lead up to its request for international aid.

Ireland signed up to a three-year, 85 billion-euro programme
in November 2010 after it had been locked out of sovereign debt
markets with its banking crisis sending shock waves through
Europe and government facing the worst deficit in the euro zone.

Jul 1, 2015

Blackstone CEO says euro zone could contain Grexit contagion

DUBLIN, July 1 (Reuters) – The European Union should be able
to contain the fallout if Greece were to leave the euro zone
following a weekend referendum on a bailout programme, the head
of private equity fund Blackstone said on Wednesday.

Greece has appealed to its euro zone partners and the
European Central Bank to keep it afloat after defaulting on its
debt to the International Monetary Fund and losing frozen
international bailout money.

Jun 30, 2015

Greek crisis could check support for left-wing parties elsewhere: Irish Deputy PM

DUBLIN (Reuters) – Events in Greece could check the growing support in Ireland for Sinn Fein and other left wing groups in elections due early next year, the leader of the Labour Party said on Tuesday.

Deputy Prime Minister Joan Burton, whose center-left Labour Party is still suffering in opinion polls after imposing tough budgets during the first half of its term in coalition government, told Reuters: “I suspect that the happenings in Greece might give some pause for reflection…