AIB chief executive David Duffy is leaving the State-owned bank to take up a position with UK-based Clydesdale Bank.

The Department of Finance is preparing to pick banking advisers next week, as it weighs how to recoup a €21bn taxpayer bailout of AIB.

The EU has put no legal requirement on AIB to repay the €21bn in bailout funds it has received from Irish taxpayers.

KKR and Colony Capital are the most likely investors in Permanent TSB when it raises capital following the results of the stress tests, according to a source.

Stockbrokers Merrion Capital is convinced there is a resurgence in AIB, with analyst Ciaran Callaghan issuing a note entitled ‘Phoenix rising from the ashes’.

One of Cork city’s oldest hotels, the Victoria Hotel on St Patrick Street, is for sale by tender in April.

The Government is unlikely to offload its €1.6bn contingent convertible (CoCo) capital notes in AIB before the results of the ECB’s comprehensive assessment of the banking system is completed later this year, according to market sources.

Tax revenues came in marginally ahead of expectations while spending was lower than forecast, leaving a deficit of €7.1bn, according to exchequer returns to the end of September.

The Irish banks will need €20bn in new capital following the stress tests later this year, according to Friends First chief economist Jim Power.

It is believed the Minister for Finance Michael Noonan told the IMF that he will look to Contingent Convertible Capital (CoCo) Notes if the banks need additional capital buffers following the stress tests.

Ireland is poised to sell on its AIB Contingent Convertible (CoCo) as it seeks to capitalise on positive sentiment in the aftermath of the blow-out sovereign €5bn bond this week, according to sources.

Bank of Ireland shareholder, Wilbur Ross, has accused the last government of “very bad politics” for its handling of the economy.

IT was the moment Brian Cowen finally completed his car crash journey from being the Bruiser of Irish politics to its Mr Bean.

The Government is engaged in constructive talks with the International Monetary Fund and Europe to secure the best outcome for the country, Taoiseach Brian Cowen said today.

The International Monetary Fund mission begins its inspection of Ireland’s debt-ridden finances today.

The Taoiseach Brian Cowen tonight told his country there was no need to be ashamed as he opened its books to the International Monetary Fund.

Chamel, Le Vernis Riva, €25

Whitney Houston and her husband Bobby Brown are making headlines again, after they were named the Tackiest Couple of 2005.

Santa’s Kingdom this year. Evelyn Ring gets a sneak preview.

THE future of RTÉ’s reality TV show Cabin Fever remains in doubt following the sinking of the 90ft schooner involved in the programme off the Donegal coast on Friday.

RTÉ’S latest reality TV show was scuttled yesterday after Cabin Fever I hit the rocks off the Donegal coast.