Financial services in the Republic of Ireland http://www.globalpost.com/taxonomy/term/24663/all en Ireland to sell 500 mln euros of Bank of Ireland bailout notes http://www.globalpost.com/dispatch/news/thomson-reuters/130109/ireland-sell-500-mln-euros-bank-ireland-bailout-notes <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DUBLIN, Jan 9 (Reuters) - Ireland plans to sell at least 500 million euros ($653 million) worth of contingent capital notes that were used to recapitalise Bank of Ireland to private investors in a secondary placement, the department of finance said on Wednesday.</p> <p>The Irish government is currently the sole holder of the original 1-billion-euro placement, which pays a coupon of 10 percent.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130109/ireland-sell-500-mln-euros-bank-ireland-bailout-notes" target="_blank">read more</a></p> Financial services in the Republic of Ireland Thomson Reuters Wed, 09 Jan 2013 08:45:20 +0000 5732009 at http://www.globalpost.com UPDATE 3-Dublin sells 1 billion euros of Bank of Ireland debt http://www.globalpost.com/dispatch/news/thomson-reuters/130109/update-3-dublin-sells-1-billion-euros-bank-ireland-debt <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Investors buy bonds at slight premium</p> <p>* CoCo notes convert to shares if capital falls below 8.25 pct</p> <p>* Deal follows successful state fundraising</p> <p>By Conor Humphries and Laura Noonan</p> <p>DUBLIN/LONDON Jan 9 (Reuters) - Ireland sold a larger than expected 1 billion euros ($1.3 billion) of Bank of Ireland debt on Wednesday, cutting its exposure to the bailed-out bank amid growing confidence in the country's economic recovery.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130109/update-3-dublin-sells-1-billion-euros-bank-ireland-debt" target="_blank">read more</a></p> Financial services Financial services in the Republic of Ireland Investment Thomson Reuters Wed, 09 Jan 2013 10:30:43 +0000 5732036 at http://www.globalpost.com Investigators in Anglo Irish probe win one-year extension http://www.globalpost.com/dispatch/news/thomson-reuters/130117/investigators-anglo-irish-probe-win-one-year-extension <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DUBLIN, Jan 17 (Reuters) - Investigators probing alleged fraud at the failed Anglo Irish Bank since early 2009 asked on Thursday for another three years to conclude their case and were told by a Dublin High Court judge to wrap it up in the next year.</p> <p>The Office of the Director of Corporate Enforcement (ODCE) and the police are investigating events leading up to the collapse of scandal-hit Anglo Irish Bank and have so far brought charges forward in two of the five strands to their case.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130117/investigators-anglo-irish-probe-win-one-year-extension" target="_blank">read more</a></p> Bankers Europe Financial services in the Republic of Ireland Thomson Reuters Thu, 17 Jan 2013 20:00:03 +0000 5735794 at http://www.globalpost.com CORRECTED-Ex-Anglo Irish head Fitzpatrick faces trial next Jan http://www.globalpost.com/dispatch/news/thomson-reuters/130123/former-anglo-irish-head-fitzpatrick-go-trial-next-january <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Corrects paragraph 4 and adds paragraph 5 to make clear that the alleged unlawful loans are the basis of a separate charge from the deposits allegedly used to mask withdrawals)</p> <p>* Fitzpatrick was chief exec during bank's ascendancy</p> <p>* Goes on trial for fraud on Jan. 13 with two ex-colleagues</p> <p>* None of the three have made any plea yet</p> <p>By Sarah O'Connor</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130123/former-anglo-irish-head-fitzpatrick-go-trial-next-january" target="_blank">read more</a></p> Economy of the Republic of Ireland Financial services in the Republic of Ireland Ireland Thomson Reuters Wed, 23 Jan 2013 15:45:39 +0000 5738349 at http://www.globalpost.com INSIGHT-Irish banks at mercy of international paymasters http://www.globalpost.com/dispatch/news/thomson-reuters/130128/insight-irish-banks-at-mercy-international-paymasters <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* International lenders hold key to Irish banking recovery</p> <p>* ECB has rejected Ireland's preferred proposal to reschedule bank debt</p> <p>* Solution for loss-making tracker mortgages put on back-burner</p> <p>* Next stress tests to use less severe model for mortgage losses</p> <p>By Laura Noonan and Padraic Halpin</p> <p>LONDON/DUBLIN Jan 28 (Reuters) - Ireland's banking recovery could yet be derailed by its international creditors.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130128/insight-irish-banks-at-mercy-international-paymasters" target="_blank">read more</a></p> Business Economy of the Republic of Ireland Financial services in the Republic of Ireland Republic of Ireland Thomson Reuters Mon, 28 Jan 2013 16:15:35 +0000 5740552 at http://www.globalpost.com INSIGHT-Irish banks at mercy of international paymasters http://www.globalpost.com/dispatch/news/thomson-reuters/130129/insight-irish-banks-at-mercy-international-paymasters <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* International lenders hold key to Irish banking recovery</p> <p>* ECB has rejected Ireland's preferred proposal to reschedule bank debt</p> <p>* Solution for loss-making tracker mortgages put on back-burner</p> <p>* Next stress tests to use less severe model for mortgage losses</p> <p>By Laura Noonan and Padraic Halpin</p> <p>LONDON/DUBLIN Jan 28 (Reuters) - Ireland's banking recovery could yet be derailed by its international creditors.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/insight-irish-banks-at-mercy-international-paymasters" target="_blank">read more</a></p> Business Economy of the Republic of Ireland Financial services in the Republic of Ireland Republic of Ireland Thomson Reuters Tue, 29 Jan 2013 07:45:33 +0000 5740882 at http://www.globalpost.com CORRECTED-FACTBOX-What the Anglo Irish Bank deal does for Ireland http://www.globalpost.com/dispatch/news/thomson-reuters/130207/factbox-what-the-anglo-irish-bank-deal-does-ireland <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Corrects day in first paragraph)</p> <p>LONDON, Feb 7 (Reuters) - Ireland's Prime Minister Enda Kenny on Thursday said his country had taken "an historic step on the road to economic recovery" by striking a deal with the European Central Bank to ease the burden of debts it took on to rescue Anglo Irish Bank.</p> <p>Following are the key points of the deal that have been announced so far:</p> <p>* Anglo Irish Bank, more recently known as IBRC, is being liquidated.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130207/factbox-what-the-anglo-irish-bank-deal-does-ireland" target="_blank">read more</a></p> Business Economy of the Republic of Ireland Financial services in the Republic of Ireland Ireland Thomson Reuters Thu, 07 Feb 2013 18:15:40 +0000 5749212 at http://www.globalpost.com UPDATE 3-Canada's Great-West Lifeco buys Irish Life for $1.7 bln http://www.globalpost.com/dispatch/news/thomson-reuters/130219/update-1-canadas-great-west-lifeco-buys-irish-life-17-bln <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Irish govt gains full return of its outlay</p> <p>* Great-West Lifeco expects 10 pct earnings boost</p> <p>* Irish finance minister to explore further potential sales</p> <p>* Great-West shares rise 2.4 pct</p> <p>By Padraic Halpin</p> <p>DUBLIN, Feb 19 (Reuters) - Canadian life insurer Great-West Lifeco bought state-rescued insurer Irish Life for 1.3 billion euros ($1.7 billion) on Tuesday in a deal that increases its presence in Ireland and lightens the Irish government's debts.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130219/update-1-canadas-great-west-lifeco-buys-irish-life-17-bln" target="_blank">read more</a></p> Business Economy of Canada Economy of the Republic of Ireland Europe Financial services Financial services in the Republic of Ireland Labor Law S&P/TSX Composite Index The Great-West Life Assurance Company Thomson Reuters Tue, 19 Feb 2013 15:00:43 +0000 5759984 at http://www.globalpost.com Canadian insurer Great-West Life buys Irish Life http://www.globalpost.com/dispatch/news/afp/130219/canadian-insurer-great-west-life-buys-irish-life <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Canadian insurance company Great-West Life has agreed to buy state-owned Irish Life for Can$1.75 billion ($1.75 billion, 1.31 billion euros), it said Tuesday.</p> <p>Winnipeg, Manitoba-based Great-West said it will combine the operations of its 110-year-old Irish subsidiary, Canada Life, and Irish Life. The new entity will retain the Irish Life name.</p> <p>Established in 1939, Irish Life is the largest life and pensions group and investment manager in Ireland, with more than one million customers and 37 billion euros of assets under management.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130219/canadian-insurer-great-west-life-buys-irish-life" target="_blank">read more</a></p> Financial services Financial services in the Republic of Ireland S&P/TSX Composite Index AFP Tue, 19 Feb 2013 15:16:11 +0000 5760013 at http://www.globalpost.com Canadian insurer Great-West Life buys Irish Life http://www.globalpost.com/dispatch/news/afp/130219/canadian-insurer-great-west-life-buys-irish-life-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Canadian insurance company Great-West Life has agreed to buy Irish state-owned insurer Irish Life for Can$1.75 billion ($1.75 billion, 1.31 billion euros), it said Tuesday.</p> <p>Winnipeg, Manitoba-based Great-West said it will combine the operations of its 110-year-old Irish subsidiary, Canada Life, and Irish Life. The new entity will retain the Irish Life name.</p> <p>The insurance arm of Irish Life &amp; Permanent, Irish Life is the largest life and pensions group and investment manager in Ireland, with more than one million customers and 37 billion euros of assets under management.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130219/canadian-insurer-great-west-life-buys-irish-life-0" target="_blank">read more</a></p> Economy of the Republic of Ireland Financial services Financial services in the Republic of Ireland Irish Life AFP Tue, 19 Feb 2013 18:32:44 +0000 5760306 at http://www.globalpost.com Ireland ends controversial bank guarantee http://www.globalpost.com/dispatch/news/afp/130226/ireland-ends-controversial-bank-guarantee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Ireland announced Tuesday it will end a controversial blanket bank guarantee scheme that was introduced in 2008 when bank shares collapsed at the onset of the eurozone crisis.</p> <p>"I am very pleased to announce the government's decision to end the bank guarantee for new liabilities from midnight on 28 March 2013," Irish Finance Minister Michael Noonan said Tuesday evening.</p> <p>The blanket guarantee, called the Eligible Liabilities Guarantee Scheme (ELGS), was introduced in September 2008 as a measure to maintain the stability of the eurozone nation's financial system.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130226/ireland-ends-controversial-bank-guarantee" target="_blank">read more</a></p> bank Economy of the Republic of Ireland Financial services Financial services in the Republic of Ireland AFP Tue, 26 Feb 2013 20:15:44 +0000 5767684 at http://www.globalpost.com European shares briefly turn positive in early trade http://www.globalpost.com/dispatch/news/thomson-reuters/130301/european-shares-briefly-turn-positive-early-trade <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, March 1 (Reuters) - European shares briefly turned positive in jittery early trade on Friday as investors weighed some solid corporate numbers and a strong print on Spanish data against looming U.S. budget cuts and weak Chinese numbers.</p> <p>The pan-European FTSEurofirst 300 hit a session high of 1,172.57 points before dipping back into the red, to trade down 0.1 percent at 1,170.65 points by 0827 GMT.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130301/european-shares-briefly-turn-positive-early-trade" target="_blank">read more</a></p> Financial services in the Republic of Ireland Politics Thomson Reuters Fri, 01 Mar 2013 08:45:03 +0000 5770611 at http://www.globalpost.com Ireland's permanent tsb raises 400 mln euros new debt http://www.globalpost.com/dispatch/news/thomson-reuters/130301/irelands-permanent-tsb-raises-400-mln-euros-new-debt <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DUBLIN, March 1 (Reuters) - State-owned Irish lender permanent tsb (PTSB) said on Friday it had raised 400 million euros ($523 million) fresh debt, bringing to 1 billion the amount of new debt secured against its British and Irish mortgage books this year.</p> <p>The smallest of Ireland's three remaining domestically-owned banks, permanent tsb was handed approval by the country's EU/IMF lenders lenders last year to eke out a viable future by moving bad assets off its balance sheet.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130301/irelands-permanent-tsb-raises-400-mln-euros-new-debt" target="_blank">read more</a></p> Business Financial services in the Republic of Ireland Irish Life and Permanent Lloyds Banking Group Thomson Reuters Fri, 01 Mar 2013 10:00:04 +0000 5770673 at http://www.globalpost.com Ex-Anglo Irish head facing second trial over bank meltdown http://www.globalpost.com/dispatch/news/thomson-reuters/130301/ex-anglo-irish-head-facing-second-trial-over-bank-meltdown <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Ex-Anglo CEO issued with more charges, faces second trial</p> <p>* Charged for misleading Anglo's auditors</p> <p>* Due to appear in court in March, no trial date set</p> <p>By Sarah O'Connor</p> <p>DUBLIN, March 1 (Reuters) - The former head of the defunct Anglo Irish Bank will face a second trial connected to Ireland's most expensive banking failure, charged with misleading auditors, a Dublin court heard on Friday.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130301/ex-anglo-irish-head-facing-second-trial-over-bank-meltdown" target="_blank">read more</a></p> Bankers Business Financial services in the Republic of Ireland Seán FitzPatrick Thomson Reuters Fri, 01 Mar 2013 16:30:23 +0000 5771043 at http://www.globalpost.com Bank of Ireland slumps into 1.8-bln-euro annual loss http://www.globalpost.com/dispatch/news/afp/130304/bank-ireland-slumps-18-bln-euro-annual-loss <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>State-rescued Bank of Ireland said on Monday that it plunged into the red in 2012 after it was hit by a soaring level of bad debts.</p> <p>The positive impact of a 2011 debt write-off was not repeated, therefore.</p> <p>BoI said in a statement that losses after tax hit 1.83 billion euros ($2.38 billion) last year. That contrasted with a net profit of 40 million euros in 2011, when it was boosted by a one-off shares-for-debt deal with its lenders.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130304/bank-ireland-slumps-18-bln-euro-annual-loss" target="_blank">read more</a></p> Bank of Ireland Business Economic history of Ireland EUR Financial services in the Republic of Ireland Labor Law Republic of Ireland AFP Mon, 04 Mar 2013 16:53:26 +0000 5772940 at http://www.globalpost.com