BUSINESS - BREAKING NEWS

Banking shares rose today after Britain’s biggest lenders were given until 2019 to meet new standards on financial health set by the Bank of England.

BUSINESS - IRISH EXAMINER

Software firm back in profit despite dip in revenue

Irish software firm Openet last year returned to operating profit in spite of a dip in revenues to €95.44m.

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Economic sentiment in eurozone increases

Economic sentiment in the eurozone unexpectedly rose in October in a sign that the 18-nation region has moved one step away from a renewed economic downturn.

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Consumers are crucial to any recovery

The global economic and financial crisis which has been raging for the past seven years passed another significant milestone on Wednesday when the US central bank, the Federal Reserve, ended its latest bout of bond buying, namely quantitative easing mark 3.

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Assets move dismissed

The Department of Finance has no plans to change the status of deferred tax assets even though it could greatly boost the value of AIB and, to a lesser extent, Permanent TSB.

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EU sets out ideas on simpler, more effective Vat system

The EU’s Vat system is broken and out-dated and ideas on a simpler, more effective system were outlined in Brussels.

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Britain seeks to give BoE new mortgage powers

Britain’s government published proposals to give the Bank of England new legal powers to control residential mortgage lending yesterday, but said it wanted more evidence before deciding on a BoE request to regulate lending to landlords.

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Brewer given more time over bar group bid

British brewing company Greene King has been given an extension — until close of business on Tuesday — to formally show its hand in the takeover battle for UK bar group, Spirit Pub Company.

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Slashing costs helps Abbey record €700,000 in profits

The Abbey Theatre last year swung back into strong profit after slashing costs by €2m.

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European bank signs deal to loan ESB €100m

The ESB has signed off on a €100m loan deal with the European Investment Bank to fund its latest push to increase energy from renewable sources.

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ECB picks 4 asset firms

The ECB has picked four asset managers to aid purchases of asset-backed securities that it says will start next month.

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Scottish explorer moves closer to Irish drilling

Scottish exploration firm Cairn Energy has begun evaluating seismic survey data relating to its offshore Irish acreage and said it remains on course for drilling in the area in 2015.

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Ryanair in bidding for Cyprus Airways

Ryanair is in the second round of bidders to take over loss-making Cyprus Airways, chief executive Michael O’Leary said yesterday.

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