Sterling rose against the euro for the second successive day and global shares rallied from week-long lows, as markets tried to assess the potential long-term damage to the economies of the UK and the rest of Europe from the decision last week of British voters to quit the EU.

The Irish and Spanish economies have pulled away from the group of countries in the eurozone periphery, but employment growth, bad loans and credit remain issues, according to a credit ratings firm Fitch Ratings.

Credit ratings agency Fitch Ratings yesterday sketched contrasting outlooks, predicting strong economic growth for Ireland, in the short term at least, but contrasting with an uninspiring picture for the rest of the eurozone.

One of the leading global credit rating agencies has given a broad endorsement to plans that could see courts given the power to limit the rates banks charge standard variable rate mortgage customers.

Instances of non-performing Irish homeloans are set to reduce further over the remainder of 2015, according to leading international credit rating agency, Fitch.

The costs and complexities of carving Royal Bank of Scotland into a good and bad bank would likely leave British taxpayers worse off and exceed any benefits, according to an influential ratings agency.

Instances of house repossessions are likely to rise here as lenders increasingly look to solve the mortgage crisis, credit ratings agency Fitch has forecast.

Property prices could fall another 20% but may yet stabilise, ratings agency Fitch said in its outlook for 2013.

The Personal Insolvency Bill will not lead to a large number of bankruptcies, according to international ratings agency Fitch.

Spain is expected to ask the eurozone for help with recapitalising its banks this weekend, sources in Brussels and Berlin said yesterday, becoming the fourth country to seek assistance since Europe’s debt crisis began.

The passing of the fiscal stability treaty is good for Ireland’s debt ratings, Fitch Ratings says.

Fitch ratings agency downgraded debt-crippled Greece deeper into junk territory, warning of a “probable” Greek exit from the euro currency union if new national elections next month produce an anti-bailout government.

Greece’s wrangling politicians were locked in last-ditch efforts today to form a coalition government, with chances of a deal appearing slim.

UK Chancellor George Osborne has been issued a pre-Budget warning by an influential credit rating agency as it issued a “negative” outlook on the prospects of the UK economy retaining its AAA rating.

US ratings agency Fitch says it is downgrading the credit ratings of five countries that use the euro, including economic heavyweights Italy and Spain.

US AIRLINES have failed to block an EU law charging carriers flying to Europe for their carbon pollution.

Nick Clegg today urged critics not to exploit the eurozone crisis to foster “xenophobia, chauvinism and polarisation” as doubts were cast on political efforts to save the single currency.

Fitch Ratings has downgraded the debt ratings for five major European commercial banks and co-operative banking groups, citing the eurozone crisis and stronger headwinds facing the banking sector.

FITCH Ratings affirmed the United States’ top-notch credit rating at AAA, giving the world’s largest economy a reprieve after it was downgraded by Standard & Poor’s little more than a week ago.

US President Barack Obama says the emergency bill Congress has passed to prevent a government default is the first step in ensuring the country lives within its means.

GERMANY will probably back down in its battle with the European Central Bank over a new aid package for Greece rather than risk a breakup of the euro, said Andrew Bosomworth, a fund manager at Pacific Investment Management.

A MEXICAN teenager with an extreme case of royal wedding fever has ended a hunger strike after a knight in shining armour offered to pay her airfare to London.

CREDIT rating agency Fitch has slashed Ireland’s debt profile by three notches.

FITCH has cut Ireland’s credit rating again, citing the huge cost of cleaning up its banks as the regulator warned levels of soured property loans could be worse than disclosed and consumer sentiment plummeted.

HOUSE prices in Ireland are set to fall by 45% from their 2006 peak as the banking crisis and rising interest rates continue to undermine the market.

FITCH Ratings has placed the short-term issuer default ratings (IDRs) of Allied Irish Banks, Bank of Ireland, EBS Building Society and Irish Nationwide Building Society on rating watch negative (RWN).

An Oregon man known for his sense of humour gave his friends and family a start when they received Christmas cards from him – two months after he died.

A SURVEY of business banking charges claims Irish business charges are cheaper than those in Britain.