BUSINESS - BREAKING NEWS

Protections put in place to deal with the failure of a major bank are “not there yet”, a deputy governor at the Bank of England has said.

TODAY'S BUSINESS - IRISH EXAMINER

‘Fear trumps’ as shares hit their lowest levels since September 2013

The relief rally that swept through Europe’s stock markets this week came to an abrupt halt, as shares slid for the eighth time in nine days and hit their lowest levels since September 2013.

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Oil prices at $50 ‘almost impossible’ by year end

Northern Trust’s chief economist has cast serious doubt over the possibility of a significant oil price recovery this year as the ongoing price war continues.

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Enterprise Ireland plans Iranian visits to tap into trade opportunity

Enterprise Ireland is planning two separate market visits to Iran in the coming months as it looks to tap into the year’s largest trade opportunity.

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UK MPs grill Google over Irish-based tax companies

UK MPs accused Google yesterday of trying to fool Britons into believing it was a proponent of tax reform while remaining a prime beneficiary of loopholes in existing rules, and said if it was sincere the company would be more transparent over its tax affairs.

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Appeals against Paddy McKillen Jr’s boutique hotel plans in Dublin

Paddy McKillen Jr’s plans for a boutique hotel, complete with a roof-top restaurant, in the Dublin suburb of Ranelagh have been thrown into question.

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Joe Healy slams ‘dysfunctional’ beef grid

The failure to review the “dysfunctional” beef grid as promised has undermined the credibility of the beef forum, said IFA presidential candidate Joe Healy.

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Irish Distillers names Jean-Christophe Coutures new CEO as Jameson sales rise

Anna Malmhake is to leave her post as head of Irish Distillers as part of a significant management shake-up at parent group Pernod Ricard.

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Central Bank to address privacy concerns on loans register

A register collating all significant loans by banks to individuals is on course to be up and running by the end of 2017, as the Central Bank works to address privacy concerns.

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UK buy-to-let landlords drive house prices higher

British property valuers reported a surge of activity yesterday as property investors tried to beat an increase in transaction taxes on rental investments coming into force in April.

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National Treasury Management Agency sale at below 1% yield

Debt issuer the National Treasury Management Agency sold €1bn of 10-year debt to investors yesterday at a yield or interest rate just below 1%, reflecting in part the worldwide flight to safety into government securities, as stock markets tumbled again.

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Global events will shape economic and fiscal policy here

For any naïve fool who may have believed that this year’s general election might be characterised by economic and fiscal prudence, these are indeed worrying times.

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US farmers seek bank loan renewals and extensions

Stubbornly low grain and livestock prices are driving US farmers to seek extensions and renewals of bank loans, states a quarterly farm economy report from the Federal Reserve Banks of St Louis and Kansas City.

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$1bn diamond sales by De Beers and Alrosa PJSC may be much too soon

The world’s two biggest diamond miners have just sold $1bn worth of gems and it is making smaller rivals nervous.

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Brexit issues still not settled

Envoys from the EU’s 28 governments failed to bridge remaining differences over changes to the UK’s terms of membership, underscoring the political stakes in the run-up to a meeting of the bloc’s national leaders next week.

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Cork to host global start-up summit

Taoiseach Enda Kenny will today announce that Cork has won the bidding to host a global start-up summit later this year, the first time the event will have been held in Europe.

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Dublin-based energy-focused support services group DCC upbeat over annual prospects

DCC has said it remains “ambitious” to continue its growth in existing and new territories and retains “a strong, well-funded, and liquid balance sheet” in order to fund such intentions.

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World’s second largest mining firm Rio Tinto slashes payout policy

Rio Tinto has scrapped its generous payout policy in the face of a bleak outlook for the global economy after it slumped to a net loss for 2015 and posted its worst underlying earnings in 11 years.

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