Padraic's Feed
Feb 12, 2015

IAG’s CEO Walsh says Aer Lingus might not survive on its own

DUBLIN (Reuters) – The chief executive of British Airways owner IAG (ICAG.L: Quote, Profile, Research) told Irish politicians on Thursday that Aer Lingus (AERL.I: Quote, Profile, Research) would struggle to survive if they do not back its bid for the former flag carrier.

Dubliner Walsh, who began his career as an Aer Lingus pilot and was the airline’s chief executive before he moved to British Airways 10 years ago, was back this week campaigning to win over skeptical MPs to IAG’s 1.36 billion-euro offer, which already has the qualified backing of Aer Lingus’s board.

Feb 8, 2015

Election-nervous politicians shout down IAG’s Aer Lingus bid

DUBLIN (Reuters) – The owner of British Airways is running out of time to secure Ireland’s Aer Lingus as questions over its commitment to keep jobs and key Heathrow routes stoke opposition from politicians facing a tough election next year.

Aer Lingus’ board recommended the 1.36 billion euro ($1.5 billion) offer from International Consolidated Airlines Group (IAG) last month, subject to the agreement of the Irish state to sell its 25 percent holding.

Feb 5, 2015

Sinn Fein shrugs off possible unionist role in British government

DUBLIN (Reuters) – Sinn Fein leader Gerry Adams shrugged off the possibility of arch rivals the Democratic Unionist Party propping up a Conservative-led government following upcoming British elections, saying any unionist advantage would be temporary.

As the fourth-largest party in Britain’s lower house with eight seats, the DUP is seen as a potentially key player in coalition talks likely after the UK general election on May 7 which is set to be the most open in years.

Feb 5, 2015

Ignoring Greeks’ plight will fuel far right – Sinn Fein’s Adams

DUBLIN (Reuters) – Europe and the “undemocratic” European Central Bank risk fuelling the growth of right wing parties across the continent if they ignore the will of the Greek people, Gerry Adams, leader of Ireland’s leftist Sinn Fein said on Thursday.

The new Greek government’s hopes of renegotiating its debt pile have been doused by its euro zone peers this week and the ECB pulled its funding line for Greek banks.

Feb 3, 2015

Ireland to set minimum alcohol price to curb “dangerous” misuse

DUBLIN, Feb 3 (Reuters) – Ireland will set a minimum price
for alcohol and restrict its marketing to reduce a level of
drinking the health minister called a public health emergency.

The Irish drink an annual 11.6 litres of alcohol per capita,
20 percent lower than at the turn of the last decade but still
among the highest in the OECD. The new laws aim to reduce
consumption to the OECD average of 9.1 litres by 2020.

Feb 2, 2015

Ryanair sees cheap oil fuelling competition on fares

DUBLIN/LONDON, Feb 2 (Reuters) – Ryanair cautioned
on Monday that profits would only rise modestly in the year
ahead as low oil prices help rivals to cut fares, taking the
shine off its third profit upgrade in as many months for the
year ending in March.

Ryanair, Europe’s largest airline by passenger numbers, has
increased its profit forecast for the current financial year by
over 30 percent since it reported stellar half-year results
three months ago, due to improvements in its much berated
customer service that have boosted fares and passenger numbers.

Feb 2, 2015

Ireland’s CRH to buy Lafarge, Holcim assets for $7.4 bln

DUBLIN, Feb 2 (Reuters) – Irish building supplies group CRH
has agreed to pay 6.5 billion euros ($7.4 billion) for
assets Lafarge and Holcim were obliged to
sell ahead of their planned merger.

CRH, which said on Sunday it would fund the deal with cash,
new debt and a 9.99 percent equity placing, beat a consortium
led by Blackstone, whom several people familiar with the
matter told Reuters were also in the running.

Feb 1, 2015

CRH to buy Lafarge, Holcim assets for 6.5 bln euros

DUBLIN, Feb 1 (Reuters) – Irish building supplies group CRH
said on Sunday it had agreed to pay 6.5 billion euros
for assets Lafarge and Holcim were obliged
to sell ahead of their planned merger.

CRH, which said it will fund the acquisition with cash, new
debt and a 9.99 percent equity placing, beat a consortium led by
Blackstone, whom several people familiar with the matter
told Reuters were also in the running.

Jan 29, 2015

Aer Lingus shares fall as government opposition to sale grows

DUBLIN (Reuters) – Opposition to a takeover of Aer Lingus (AERL.I: Quote, Profile, Research) by the owner of British Airways is building within Irish government parties, pushing shares in the Irish airline lower for the second successive day.

Aer Lingus’s board this week recommended an improved 1.36-billion-euro ($1.5 billion) offer from International Consolidated Airlines Group (ICAG.L: Quote, Profile, Research) (IAG), subject to the agreement of its two largest shareholders — budget airline Ryanair (RYA.I: Quote, Profile, Research) and the Irish state.

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.