MORE than 50,000 retail jobs will be lost over the next 12 months unless the Government takes action to address the problem of upward-only rent reviews for existing lease holders, shop owners warned yesterday.

THE boards of Irish-listed companies should embrace confident and persuasive communications with shareholders and seek to avoid formulaic descriptions and explanations.

A veteran Irish Life & Permanent employee was today appointed the new group chief executive.

THE Irish Association of Pension Funds (IAPF) has expressed its initial support for the use of pension fund investments in infrastructure projects to aid the construction industry; but said that the final decision ultimately rests with actual fund managers themselves.

NOW that we have forced the resignation of most of the top bankers deemed responsible for the collapse of the banks and the virtual destruction of the economy as we knew it, we still have key issues to resolve.

AIB’s top three directors, chairman Dermot Gleeson, chief executive Eugene Sheehy and finance director John O’Donnell, have resigned in the face of intense pressure to go from the Government and institutional investors.

AIB’S Eugene Sheehy became the fifth bank chief executive to step down since December in the latest clear-out at the banks. His successor faces a massive reduction in pay for the role, given the Government’s plans to cap salaries for chief executives at banks receiving state aid at €500,000.

THERE is much derisory comment and punch about the reputation, probity and transparency of Ireland’s financial institutions and the inordinate levels of remuneration of those who lead them and those who are forced abruptly to retire from them.

WHERE did Cardinal Brady look for inspiration when he declared in Killarney that Bishop Magee should remain in his see?

THE Government bit the bullet last night pledging €5.5 billion in capital to three of the country’s leading banks.

FINANCE Minister Brian Lenihan and the Financial Regulator have declined requests to facilitate an emergency meeting of the Oireachtas finance committee on Monday.

THE Chartered Accountants Regulatory Board is to examine the issue of directors’ loans in the wake of the €87 million in loans built up by former chairman Sean FitzPatrick.

Deutsche Bank has asked stockbroker firms in Dublin if their clients are interested in backing the bank’s bid to recapitalise Irish banks, the Sunday Business Post reported.

AS THE battle to invest in the underfunded Irish banks intensifies, investment institutions fronted by IAIM (Irish Association of Investment managers) have appointed Deutsche Bank as financial advisor.

THE decision by the Irish Association of Investment Managers (IAIM) to put forward a bank recapitalisation programme will give the private equity players stalking the banks food for thought as they scramble to secure significant holdings in some of the country’s troubled institutions.

AS RIVAL investors battle to inject billions into the six Irish-owned banks, significant uncertainty still surrounds their future.

FINANCE Minister Brian Lenihan was thrown a lifeline yesterday by Irish fund managers who pledged €2 billion to help fund the beleaguered banks.

The Minister for Finance has been presented with a proposal that could see the investment subsidiaries of a number of Irish and international banks recapitalise our domestic banking system.

The Director of Corporate Enforcement is to ask the High Court to appoint inspectors to look into the affairs of DCC and two of its subsidiaries, it has emerged.

DCC remained silent yesterday on the mounting pressure for its executive chairman, Jim Flavin, to resign.

The Irish Association of Investment Managers has signalled that it sees the continuation of Jim Flavin in his role as executive chairman of DCC as inappropriate.

DCC has again expressed its confidence that executive chairman Jim Flavin should remain in his post following last week’s Supreme Court ruling that he and the company had engaged in unlawful trading in Fyffes’ shares.

The Irish Association of Investment Managers (IAIM) has urged Irish investors to further diversify their portfolios by investing in different assets rather than focusing solely on property.

DCC chief executive and founder Jim Flavin is to step up to the chairman’s office of the sales and distribution group.

THE Irish Association of Investment Managers (IAIM) has appointed Frank O’Dwyer as its new chief executive.

ANN FITZGERALD has been appointed full-time executive chairwoman of the interim board of the National Consumer Agency (NCA).

THE Irish Association of Investment Managers (IAIM) yesterday expressed concern about the advertising of overseas properties.

ENTERPRISE, Trade and Employment minister Micheál Martin has named the interim chairman of the National Consumer Agency.

KINGSPAN’S share price surged ahead by almost 6% yesterday after the company disclosed first half pre-tax profits increased by 32.5% to €37.5 million, well ahead of expectations.

INDEPENDENT News & Media has bowed to investor pressure and separated the roles of chairman and chief executive.

IRISH investors pumped almost €2 billion into retail investment products last year as confidence improved and stock markets rebounded, according to the Irish Association of Investment Managers (IAIM).

The Tánaiste, Mary Harney, has announced details of a new consumer awareness board established in response to perceived profiteering by Irish retailers.

THE nation’s two biggest financial institutions — AIB and Bank of Ireland — won’t be in Irish ownership in five years unless the two boards change their tune.

APPOINTING family members of major shareholders to key positions in plc’s reinforces the need for independent directors to maintain shareholder confidence, according to Irish investment managers.

Savers who invested money in a Government scheme were advised not to panic today after it emerged they may have lost up to 80% of State contributions.