FIVE non-executive directors announced their resignation from the board of Anglo Irish Bank yesterday, ahead of the Government’s expected formal takeover of the lender later this week.

The Government was tonight urged to launch a root and branch review of banking regulations as five more directors of scandal-hit Anglo Irish Bank quit, and banking shares plunged on the stock exchange.

Shares in Irish banks fell sharply on the ISEQ index today, with the three remaining publicly-listed banks seeing more than half of their value collectively wiped out.

Food group DCC has further defended its decision to unanimously reaffirm Jim Flavin in his role as executive chairman following an investigation into the use of trading reports in the sale of its stake in Fyffes fruit and vegetable distributor for €106m in early 2000.

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.

WINS NOW, so impressive when scoring at Navan previously, confirmed the good impression created then when stepping up in class to beat Franklins Trail in the McCarthy Insurance Group Hurdle at Cork on Saturday.

TOM TAAFFE, who has his horses in terrific shape, landed another decent prize when Tumbling Dice ran away with the Grade 2 O'Connell Logistics Hilly Way Chase at Cork yesterday.

SETTING up one of the world’s largest cheese plants in the uplands of New Mexico, where the Comanches once hunted the buffalo, was a daunting challenge.

Ian Guider

The Financial sector ensured that the ISEQ ended the day in positive territory today, countering Elan's continued slide.

The ISEQ was down 26.45 points mid-morning at 6345.17, as Elan continued to slide.

Bank of Ireland has announced the retirement of former chief executive Maurice Keane from the court of directors.

BANK OF IRELAND will move to appoint a successor to Michael Soden as early as this week, but the vacancy left by former Aer Lingus chairman Tom Mulcahy will remain unfilled until later in the summer.

As two banks reel in the wake of scandal, DAVID CLERKIN compares their reactions to the crises.

Scandals involving two of Ireland’s major banks have jeopardised the financial industry’s international credibility, Taoiseach Bertie Ahern warned today.

EARLIER this year, Bank of Ireland’s top management had every reason to feel a little smug.

Bank of Ireland today reported an 18% rise in pre-tax, pre-exceptional profits for the full year to end March.