You are viewing the content for Friday 27 July 2012

BUSINESS

Lloyds cuts its Irish loan impairment charge by half

Lloyds Banking Group Plc, Britain's biggest mortgage lender, said its Irish loan impairment charge was cut by half to £897m (€1.115bn) in the first six months compared with a year earlier as the pace of increase of home-loan arrears slowed.

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Draghi: I will not let eurozone collapse

European Central Bank president Mario Draghi pledged yesterday to do whatever was necessary to protect the eurozone from collapse, sending a strong signal that inflated Spanish and Italian borrowing costs were in his sights.

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Ulster Bank customers unable to switch to rivals

Ulster Bank can't complete customers' requests to switch their accounts to other banks because thousands of accounts have yet to be fully reconciled.

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Foray a good exercise in reasserting sovereignty

The Government's foray into the sovereign debt markets yesterday came a bit sooner than expected but the rationale for the move is clear.

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Foreign investors show faith in €4.19bn bond auction

The National Treasury Management Agency raised €4.19bn in fresh capital for the Government yesterday through the issue of two bonds — one maturing in 2017 and the other in 2020.

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Amazon misses analysts' estimates

Amazon.com, the world's largest internet retailer, missed analysts' second-quarter revenue and profit estimates as sales slipped for Kindle Fire devices and the company increased spending on new warehouses.

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Facebook results reassure investors

Facebook Inc, reporting its first results since selling shares to the public, posted sales that topped analysts' estimates, signalling buoyant demand for advertising and reassuring investors who have pummelled the shares on concern over the company's growth prospects.

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Bord Gáis begins search for new chief as Mullins resigns

John Mullins will step down as chief executive of Bord Gáis when his contract expires in November.

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United Drug acquires contract sales arm of Celesio for €35m

United Drug has acquired the contract sales arm of German healthcare and pharmaceutical company Celesio, for €35m.

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NTR slashes losses 330%

Irish renewable energy group, NTR managed to slash its pre-tax losses by nearly 330% last year.

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Glanbia in €50m takeover of US firm

Glanbia has strengthened its US nutritional and ingredients business with the €50m acquisition of Aseptic Solutions Inc (ASI) in Corona, California.

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Coillte to pay State €2m dividend

Coillte is to pay the Government an interim dividend of €2m for the first half of 2012.

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Iseq rebounds on Draghi's pledge

Shares in Dublin advanced 57.8 points to 3120.7 in line with most European bourses following ECB president Mario Draghi's pledge to take whatever action is necessary to prevent a collapse of the eurozone.

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Ryanair asks EU to approve takeover bid for Aer Lingus

Ryanair has asked European competition regulators to approve its €694m takeover bid for Aer Lingus, in what could be an uphill battle after an EU veto against a previous offer.

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Start-ups to create more than 900 jobs

More than 900 jobs will be created over the next three years in 53 new start-up companies.

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AGRI BUSINESS

Paddy Lane lauded by IFA chief for career dedicated to helping others

Ireland's farming community is in mourning this week for former IFA president Paddy Lane, whose funeral took place yesterday in his native Parteen, Co Clare.

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IFA urges minister to make changes to animal health and welfare bill

IFA animal health chairman John Waters has called on Agriculture Minister Simon Coveney to introduce significant changes to the new Animal Health and Welfare Bill when it returns to the Dáil in late September.

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Eurozone crisis gains dangerous momentum

Despite the many summits and the many initiatives the ECB and other European policymakers have put in place over the past year, the eurozone crisis continues to rumble on.

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