If you’ve ever travelled the South Ring road that skirts Cork City, particularly on a weekend, you may have heard the engines scrambling and the occasional guttural roar from up behind the Kinsale road roundabout.

The son of a former Bank of England governor has been appointed chief executive of the body that manages government stakes in the Royal Bank of Scotland and Lloyds Banking Group.

A positive start to trading on Wall Street safeguarded gains on the London market today as investors cheered signs of a revival in deal activity.

Signs of a revival in major deal activity encouraged investors today after a difficult few sessions for world markets.