Republic of Ireland http://www.globalpost.com/taxonomy/term/28035/all en EXCLUSIVE-ECB rejects Irish bid on promissory note-sources http://www.globalpost.com/dispatch/news/thomson-reuters/130126/exclusive-ecb-rejects-irish-bid-promissory-note-sources <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>Jan 26 (Reuters) - The European Central Bank has rejected Ireland's preferred solution to a dispute over the cost of servicing money borrowed to rescue a failed bank, EU sources familiar with the talks said on Saturday.</p> <p>Dublin wants to avoid having to pay 3.1 billion euros a year until 2023 to service a promissory note it issued to underwrite failed Anglo Irish Bank during a meltdown of the main Irish lenders after a real estate bubble burst in 2008.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130126/exclusive-ecb-rejects-irish-bid-promissory-note-sources" target="_blank">read more</a></p> Business European Central Bank European Union Ireland Republic of Ireland Thomson Reuters Sat, 26 Jan 2013 15:30:25 +0000 Thomson Reuters 5739854 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 Thomson Reuters 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 Thomson Reuters 5740882 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 Agence France-Presse 5772940 at http://www.globalpost.com Irish financial regulator Elderfield to step down http://www.globalpost.com/dispatch/news/thomson-reuters/130409/irish-financial-regulator-elderfield-step-down-0 <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>By Laura Noonan and Conor Humphries</p> <p>DUBLIN (Reuters) - Ireland's financial regulator Matthew Elderfield said on Tuesday he would quit after three years in which he overhauled a dysfunctional system of bank oversight and pressed lenders to deal more quickly with bad debts.</p> <p>Elderfield was hired in 2010 to overhaul a watchdog that had failed to rein in years of reckless lending that pushed the Irish economy and banking sector to the brink.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130409/irish-financial-regulator-elderfield-step-down-0" target="_blank">read more</a></p> Financial services in the Republic of Ireland Ireland Matthew Elderfield Politics Republic of Ireland Thomson Reuters Tue, 09 Apr 2013 15:46:13 +0000 Thomson Reuters 5807551 at http://www.globalpost.com Aer Lingus expects pension resolution this year http://www.globalpost.com/dispatch/news/thomson-reuters/130425/aer-lingus-expects-pension-resolution-year <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 (Reuters) - Aer Lingus expects to resolve a dispute with unions over a shortfall in a pension fund this year, though it is too soon to say how much the airline will need to contribute, Chief Executive Christoph Mueller said on Thursday.</p> <p>"I am quite confident we are going to see an outcome of this entire issue in 2013," Mueller told journalists, saying a ruling by the Labour Relations Commission possible within weeks would then be voted on by unions and shareholders.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130425/aer-lingus-expects-pension-resolution-year" target="_blank">read more</a></p> Aer Lingus Business Ireland Republic of Ireland Thomson Reuters Thu, 25 Apr 2013 07:30:53 +0000 Thomson Reuters 5824803 at http://www.globalpost.com Camelot owner selected to help run Irish lottery http://www.globalpost.com/dispatch/news/thomson-reuters/131004/camelot-owner-selected-help-run-irish-lottery <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 (Reuters) - Ireland has selected a joint venture including the owner of British lottery operator Camelot as preferred bidder to run the country's national lottery for the next 20 years, after it offered to pay 405 million euros ($551.8 million) for the concession, the government said in a statement.</p> <p>The winning bid is a venture between Camelot's owner, the Ontario Teachers Pension Plan, and Ireland's state-owned postal service, An Post. Discussions on finalizing the terms are due to begin shortly, the statement said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131004/camelot-owner-selected-help-run-irish-lottery" target="_blank">read more</a></p> Ireland Republic of Ireland State-sponsored bodies of the Republic of Ireland Thomson Reuters Fri, 04 Oct 2013 10:19:06 +0000 Thomson Reuters 5951605 at http://www.globalpost.com After bailout, Ireland goes back to building houses http://www.globalpost.com/dispatch/news/thomson-reuters/131105/after-bailout-ireland-goes-back-building-houses <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>By Sam Cage</p> <p>SWORDS, Ireland (Reuters) - When 20 newly built family homes went up for sale in this Dublin commuter belt town in September, queues started three hours before the viewing opened on Saturday morning.</p> <p>"By Sunday evening there was nothing left," said Brian McKeon, head of MKN Property Group, which built the units on a quiet and leafy dead-end street in Swords, a town of 40,000 near the Irish capital's airport.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131105/after-bailout-ireland-goes-back-building-houses" target="_blank">read more</a></p> Business Economy of the Republic of Ireland Geography of Europe Republic of Ireland Technology Thomson Reuters Tue, 05 Nov 2013 08:03:27 +0000 Thomson Reuters 5980260 at http://www.globalpost.com Aer Lingus union threatens industrial action over pensions http://www.globalpost.com/dispatch/news/thomson-reuters/131206/aer-lingus-union-threatens-industrial-action-over-pensions <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 (Reuters) - Aer Lingus' &lt;AERL.I&gt; largest trade union is to ballot for industrial action after talks broke down over a shortfall in a staff pension scheme, a union official said on Friday.</p> <p>The pension scheme, which employees at Aer Lingus share with other aviation industry workers, has a deficit of over 700 million euros ($956 million).</p> <p>Aer Lingus says it is not legally obliged to help fund the scheme, but has offered to make a once-off payment of 140 million euros to the scheme, a figure SIPTU says is not sufficient.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131206/aer-lingus-union-threatens-industrial-action-over-pensions" target="_blank">read more</a></p> Aer Lingus Business Economy of the Republic of Ireland Labor Law Republic of Ireland Thomson Reuters Fri, 06 Dec 2013 15:22:26 +0000 Thomson Reuters 6011687 at http://www.globalpost.com Ex-Anglo Irish Bank directors avoid jail for fraud http://www.globalpost.com/dispatch/news/afp/140429/ex-anglo-irish-bank-directors-avoid-jail-fraud <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>Two former directors of the collapsed Anglo Irish Bank were spared jail Tuesday despite being found guilty of providing illegal loans to support the bank's share price.</p> <p>Patrick Whelan, 52, and William McAteer, 63, were told by a judge that they would likely serve community service, following the first prosecution of its kind in Ireland.</p> <p>They were found guilty last week on 10 counts of providing unlawful financial assistance to Anglo Irish customers to buy shares in the lender in July 2008.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2014.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/140429/ex-anglo-irish-bank-directors-avoid-jail-fraud" target="_blank">read more</a></p> Financial services in the Republic of Ireland Ireland Law Republic of Ireland AFP Tue, 29 Apr 2014 18:07:57 +0000 Agence France-Presse 6134150 at http://www.globalpost.com Ireland's central bank issues warning on unauthorized credit firm http://www.globalpost.com/dispatch/news/xinhua-news-agency/140801/irelands-central-bank-issues-warning-unauthorized-credit-fir <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Xinhua News Agency </div> </div> </div> <!--paging_filter--><p>DUBLIN, Aug. 1 (Xinhua) -- The Central Bank of Ireland on Friday issued a warning about an unauthorized retail credit firm offering credit facilities to Irish consumers.</p> <p>In a statement, the Irish central bank said that Day-Long Loans and Financial Investment (Ireland) is not authorized as a retail credit firm by the central bank and had advertised the availability of credit in an Irish newspaper.</p> <p>It said a list of unauthorized firms/persons published to date is available on the central bank's website.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2014 Xinhua News Agency.</a></p> <p>Xinhua is China's state-run news agency.</p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/xinhua-news-agency/140801/irelands-central-bank-issues-warning-unauthorized-credit-fir" target="_blank">read more</a></p> bank Financial services in the Republic of Ireland Ireland Republic of Ireland Technology Xinhua News Agency Fri, 01 Aug 2014 17:46:34 +0000 Xinhua News Agency 6220908 at http://www.globalpost.com