It is no secret that some of the chief executives of semi-state companies and their board were less than happy with the salary caps which were introduced by Public Expenditure Minister Brendan Howlin three years ago. One of those was … Continue reading
Central bankers in the euro zone, UK and US frequently adjust interest rates in unison. That is not due to a herd instinct, but when conditions in one region merit higher or lower rates similar circumstances are often occurring elsewhere.
They say history repeats itself for those who were not watching the first time. One lesson from the Irish banking collapse was putting the burden on the tax payer while senior bondholders got all their money back was an … Continue reading
By Business Editor David Murphy The country’s three biggest banks, AIB, Bank of Ireland and Ulster Bank, released financial results this week. All three are making progress (thanks to bailouts from Irish and British taxpayers.) There are some common themes … Continue reading
By Business Editor David Murphy There is an interesting dynamic unfolding as the lobby groups bombard the Department of Finance with their demands regarding the upcoming Budget. In some respects, there is a race to the bottom to recommend the … Continue reading
It is still some months before the bank inquiry will commence public hearings – but what we are learning about its scope and design gets worse by the week. The latest blow is that the investigation won’t be able to probe … Continue reading
Many investors will be unnerved by the unexpected decision of Wilbur Ross, the billionaire US, to sell his entire stake in Bank of Ireland. His move to buy the stake three years ago rescued the company from full State … Continue reading
By Business Editor David Murphy The 75,000 unfortunate policyholders who bought insurance with Setanta have been treated terribly. What is worse is the fact that nothing is being done to prevent a repeat of the calamity.
By Business Editor David Murphy So why would Denis O’Brien want Brian Cowen to join the board at Topaz? Part of the answer came on the same day as the announcement that the former Taoiseach was appointed as a non-executive … Continue reading
Patrick Neary, the former CEO of the Financial Regulator, has been rightly excoriated in the Anglo trial. The case shed light on one specific transaction and revealed an astonishing and indefensible failure of regulation. However, that one deal did not … Continue reading