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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.

Jan 15, 2015

Anglo Irish should have been allowed to fail in 2008: central bank

DUBLIN (Reuters) – Anglo Irish Bank, the lender at the heart of Ireland’s banking crisis, should have been allowed to fail instead of being included in government guarantees on bank liabilities in 2008, central bank governor Patrick Honohan said on Thursday.

Like all Irish lenders, Anglo’s years of reckless lending helped push Ireland into a bailout in 2010. It was put into liquidation two years ago in deal with the European Central Bank (ECB) to ease the state’s debt burden.

Jan 5, 2015

Ireland says 2014 budget deficit likely to be higher than expected

DUBLIN (Reuters) – Ireland’s budget deficit is likely to have fallen by less than expected in 2014, a finance ministry official said on Monday, as a jump in year-end government spending prompted some concern that fiscal discipline may be slipping.

Dublin emerged from an EU/IMF bailout just over a year ago after a seven-year austerity drive, which has helped restore investor confidence but took some 30 billion euros (23 billion pounds), or about 20 percent of annual output, out of the economy.

Jan 5, 2015

New Irish party to sound a centrist voice

DUBLIN (Reuters) – The growth of extremist groups in Europe should not obscure the huge potential for centrists, a former Irish minister who is creating her own her new party said on Monday.

Dublin’s former minister for Europe, Lucinda Creighton, laid out plans last week to form the as-yet-unnamed party ahead of wide open elections next year that could give the former ally of Prime Minister Enda Kenny influence over any new coalition.