Padraic's Feed
Feb 27, 2015

Bank of Ireland makes full-year profit for first time since crisis

DUBLIN, Feb 27 (Reuters) – Bank of Ireland made a
profit last year for the first time since the 2008 financial
crisis, thanks to growth in new lending and a claw-back of money
set aside for bad loans.

Ireland’s largest bank by assets has recovered from the
crisis more quickly than some of its rivals partly because its
two main markets, Ireland and Britain, are among the fastest
growing in Europe.

Feb 26, 2015

CRH eyes European recovery as yearly earnings up 11 percent

DUBLIN, Feb 26 (Reuters) – Earnings at Ireland’s CRH
rose for the first time in three years in 2014 as its European
business began to recover, ahead of a major acquisition that
will turn it into the world’s third-biggest building materials
supplier.

CRH earlier this month agreed to pay 6.5 billion euros for
the assets Lafarge and Holcim have to sell
to win regulatory approval for their planned merger to create a
new company whose 38 billion euros ($43.2 billion) in sales will
dwarf the 18.9 billion CRH generated last year.

Feb 24, 2015

Ireland demands more concessions from IAG on Aer Lingus sale

DUBLIN (Reuters) – Ireland on Tuesday presented British Airways owner IAG (ICAG.L: Quote, Profile, Research, Stock Buzz) with a list of new demands it said must be fulfilled before it would consider the sale of its 25 percent stake in Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz), including one that IAG has explicitly ruled out.

The demands appeared to harden a stand-off over the 1.36 billion euros ($1.5 billion) offer from IAG (International Consolidated Airlines Group), which Aer Lingus’ board has recommended but a number of politicians have opposed.

Feb 14, 2015

Rugby-Irish on track after hanging on to beat France

DUBLIN, Feb 14 (Reuters) – Ireland hung on to beat France 18-11 in a tense Six Nations encounter at the Aviva Stadium on Saturday to seal their ninth win in a row and make it two victories from two to start the defence of their championship.

Returning flyhalf Johnny Sexton outkicked opposite number Camille Lopez to give Ireland a six-point halftime advantage that they stretched in the second period before a Romain Taofifenua try meant the hosts had to survive a late onslaught.

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.