Padraic's Feed
Mar 4, 2014

Wilbur Ross and Fairfax to sell six percent of Bank of Ireland

DUBLIN (Reuters) – Two of Bank of Ireland’s (BKIR.I: Quote, Profile, Research) largest shareholders, Wilbur Ross and Fairfax Financial (FFH.TO: Quote, Profile, Research), began selling a combined 6.4 percent stake in the country’s largest lender on Tuesday, the placing’s bookrunner Deutsche Bank (DBKGn.DE: Quote, Profile, Research) said.

Billionaire investor Ross and Fairfax boss Prem Watsa were among a group of North American investors who kept the bank out of state hands in 2011 when they bought a 35 percent stake only months after Ireland signed up to an EU/IMF bailout.

Mar 4, 2014

Wilbur Ross and Fairfax to sell 6 pct of Bank of Ireland

DUBLIN (Reuters) – Two of Bank of Ireland’s (BKIR.I: Quote, Profile, Research, Stock Buzz) largest shareholders, Wilbur Ross and Fairfax Financial (FFH.TO: Quote, Profile, Research, Stock Buzz), began selling a combined 6.4 percent stake in the country’s largest lender on Tuesday, the placing’s bookrunner Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz) said.

Billionaire investor Ross and Fairfax boss Prem Watsa were among a group of North American investors who kept the bank out of state hands in 2011 when they bought a 35 percent stake only months after Ireland signed up to an EU/IMF bailout.

Mar 3, 2014

Bank of Ireland back in profit as economy improves

DUBLIN (Reuters) – Bank of Ireland has become the country’s first lender to return to profit since the start of Ireland’s financial crisis and said it is confident of sustained economic recovery.

The country’s only lender to escape nationalisation said on Monday that it returned to profit in the first two months of the year and had cut its full-year loss by almost two thirds in 2013 thanks to a fall in the number of homeowners in arrears and improved margins.

Mar 3, 2014

Bank of Ireland back in profit for first 2 mths of 2014

DUBLIN, March 3 (Reuters) – Bank of Ireland said it
had returned to profitability in the first two months of the
year, the first Irish lender to do so since the country’s
financial crisis began.

The country’s only lender to escape nationalisation, Bank of
Ireland also said it had cut its full-year loss by almost two
thirds in 2013 on a fall in the number of homeowners in arrears
and improved margins.

Mar 1, 2014

Ireland eyes new big player to boost banking sector

DUBLIN (Reuters) – Ireland would like a “significant” new bank with a big balance sheet to enter its lending market this year to drive competition in the diminished sector, finance minister Michael Noonan said on Saturday.

Ireland’s banking crisis, which helped push the country into an European Union-International Monetary Fund bailout that it completed last year, led to the closure or merger of half of the country’s domestic banks and the exit of a slew of foreign lenders.

Feb 28, 2014

Ireland’s bad bank ratchets up property sales

DUBLIN, Feb 28 (Reuters) – Ireland’s state-run “bad bank”
will speed up the sale of its vast property holdings this year
to cash in on a surge in demand, and it is becoming more
confident of returning a profit, its chairman said on Friday.

The National Asset Management Agency (NAMA) is one of the
world’s largest property groups and purged Irish banks of risky
loans worth 74 billion euros ($101 billion) following a crash
that pushed the country into a bailout three years ago.

Feb 27, 2014

Adopted children fight Irish state secrecy to find parents

OMAGH, Northern Ireland (Reuters) – Catherine Droogan turns 40 this year. That’s one of the few personal details she can be sure of.

Adopted at four weeks from a convent in eastern Ireland, Droogan doesn’t know who her parents were or where she was born. She is not even certain who actually named her Catherine.

Feb 25, 2014

Streamlined building supplies group CRH sees 2014 growth

DUBLIN, Feb 25 (Reuters) – Irish building supplies group CRH
expects the restructured business to boost margins and
return to profit growth this year after posting full-year
earnings ahead of guidance on Tuesday.

Shares in CRH climbed by more than 4 percent after new Chief
Executive Albert Maniford spelt out his vision for a leaner
group and said that 2013 should represent a trough in the
company’s profits.

Feb 5, 2014
via FaithWorld

U.N report puts pressure on Catholic orders in Ireland over Magdalene laundries

Photo

(Spokesman Steven O’Riordan (C) speaks as he sits with, Marina Gambold (L-R), Mary Smyth, Maureen Sullivan and Diane Croghan, at a “Magdalene Survivors Together” news conference in Dublin February 5, 2013. REUTERS/Cathal McNaughton)

Advocacy groups for women forced to work at the Catholic Church’s notorious Magdalene laundries in Ireland backed calls from the United Nations for religious orders to pay compensation and face prosecution for decades of abuse.

Feb 5, 2014

U.N report puts pressure on Catholic orders in Ireland over laundries

DUBLIN (Reuters) – Advocacy groups for women forced to work at the Catholic Church’s notorious Magdalene laundries in Ireland backed calls from the United Nations for religious orders to pay compensation and face prosecution for decades of abuse.

In an unprecedented report on Wednesday, the U.N. demanded that the Vatican “immediately remove” all clergy who are known or suspected child abusers. It also urged the Holy See to conduct an investigation into the laundries.