Europe

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Ulster Bank Facing More Cuts As RBS Seeks Capital Boost, Say Analysts

Ulster Bank is likely to face more cuts as its parent RBS tries to boost capital after failing Bank of England stress tests, according to analysts. They also expect the Edinburgh-based lender’s investment banking activities to be curbed, the Irish Time ...

Daily Headline - global.abi.org - 12/01/2016 - 22:24 - 0 comments

Malta Last In Insolvency Rankings

Malta has the most inefficient insolvency proceedings of all the EU member states, a damning report by the European Commission has revealed. The report coincides with new EU rules on business insolvency, aimed at increasing the opportunities for companie ...

Daily Headline - global.abi.org - 12/01/2016 - 22:25 - 0 comments

U.S. Watchdog Says Abengoa Unit's Reorganization Violates Law

A Chapter 11 bankruptcy exit plan by Abengoa SA's main U.S. subsidiary, Abeinsa Holding Inc, violates the law by shielding the Spanish renewable energy parent from lawsuits, according to the U.S. government's bankruptcy watchdog, Reuters report ...

Daily Headline - global.abi.org - 12/01/2016 - 22:26 - 0 comments

Cristiano Ronaldo Accused Of Using Dublin To Avoid Spanish Taxes

A German MEP has accused Ireland of “tax dumping” after it was revealed that Real Madrid football star Cristiano Ronaldo has used an Irish company for many of his commercial contracts, instead of a company in higher-tax Spain, the Irish Times reporte ...

Daily Headline - global.abi.org - 12/01/2016 - 22:26 - 0 comments

R.B.S. to Bolster Capital Position After Failing Stress Test

The Royal Bank of Scotland said on Wednesday that it would further bolster its capital position after failing regulatory stress tests that measure the ability of large banks to weather a financial crisis, the International New York Times DealBook blo ...

Daily Headline - global.abi.org - 11/30/2016 - 21:26 - 0 comments

Falling Commercial Property Prices Threaten UK Banks

Falling commercial real estate prices after the UK’s vote to leave the EU pose a threat to bank stability because of the market’s reliance on foreign capital, Bank of England said. Values have declined 2.6 per cent since the referendum and may drop furth ...

Daily Headline - global.abi.org - 11/30/2016 - 21:31 - 0 comments

BoE Puts AT1 Through Its Paces With Most Severe Tests Yet

UK banks' Additional Tier 1 bonds would be fair game and converted into equity if they hit severe problems, the Bank of England's most stringent stress tests yet showed on Wednesday. This year's test was the third annual healthcheck by the ...

Daily Headline - global.abi.org - 11/30/2016 - 21:33 - 0 comments

Liquidator Appointed To Mayo Renewable Power As Rescue Plan Fails

The High Court has moved to put a biomass-fuelled power plant under construction in Co Mayo into liquidation after efforts to come up with a rescue plan for the insolvent company, with €125 million of debts, failed, the Irish Times reported. The cour ...

Daily Headline - global.abi.org - 11/30/2016 - 21:35 - 0 comments

MEP Says Ireland Needs To Act ‘Urgently’ On Pensions

Ireland needs to act “urgently”to put in place by 2020 an auto-enrolment system, which would boost private pension coverage, the Irish Times reported. “A road map needs to be put in place for the introduction of an auto-enrolment system for all Irish ...

Daily Headline - global.abi.org - 11/29/2016 - 21:46 - 0 comments

European Investment Bank Funds To Help Offset Brexit Impact

The European Investment Bank (EIB) is seeking to help alleviate the impact of Brexit on the Irish economy by opening up new funding channels for businesses in Ireland, its vice-president has said, the Irish Times reported. Speaking in Brussels ahead ...

Daily Headline - global.abi.org - 11/29/2016 - 21:47 - 0 comments

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