Ireland

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Irish Property Prices to ‘Cool Off’, Central Bank Governor Says

Central Bank governor Philip Lane said on Tuesday that he expected property prices in Ireland to “cool off” over time as supply increased, although he pointed to the continuing “strong fundamentals” of the market here, the Irish Times reported. Irish ...

Daily Headline - global.abi.org - 06/19/2018 - 21:54 - 0 comments

What Crisis? Ireland Moves On to Fintech

As minister for financial services and insurance, Michael D’Arcy has been responsible for leading Ireland’s fintech charge for the past twelve months and two weeks, the Financial Times reported. “Not once” has he been asked about the financial crisis ...

Daily Headline - global.abi.org - 06/12/2018 - 23:41 - 0 comments

Receivers Over Two Wicklow Properties Take Proceedings Against Owners

Receivers appointed over two Co Wicklow properties have taken legal proceedings claiming the owners of the properties are advertising them for short term rental including on Airbnb and booking.com. Insolvency practitioner Tom Kavanagh was last year appoi ...

Daily Headline - global.abi.org - 06/12/2018 - 00:01 - 0 comments

Construction Insolvency “Epidemic” Hits Ireland

At least 42 Irish construction companies have gone into liquidation or examinership since the start of this year, prompting a trade body to warn parliamentarians of an insolvency crisis that could hit public projects, Global Construction Review repor ...

Daily Headline - global.abi.org - 06/12/2018 - 00:01 - 0 comments

OECD Warns of Overheating in Irish Economy

Signs of overheating have begun to emerge in the Irish economy, the Organisation for Economic Cooperation and Development (OECD) has warned. In its latest economic outlook report, the Paris-based agency said new mortgage loans and loans to small firms – ...

Daily Headline - global.abi.org - 05/30/2018 - 23:07 - 0 comments

‘Erroneous Report’ Triggered €1 Billion Run on INBS, Walsh Tells Inquiry

The former chairman of Irish Nationwide Building Society (INBS), Michael Walsh, told an inquiry into the lender that an erroneous report in early September 2008 on the company’s financial position triggered a €1 billion run on its deposits, the Irish T ...

Daily Headline - global.abi.org - 05/22/2018 - 23:07 - 0 comments

Barclays to Sell on Lloyds’ Irish Mortgages After €4.6 Billion Deal

Barclays has snapped up Lloyds Banking Group’s remaining Irish mortgage portfolio for £4 billion (€4.6 billion) and plans to refinance the loans in the bond market, the Irish Times reported. Sources said that the bank has lined up UK asset manager M& ...

Daily Headline - global.abi.org - 05/21/2018 - 00:10 - 0 comments

Vulture Funds Are a ‘Cancer’ That Will Trigger Thousands of Repossessions

Vulture funds are a “cancer” in Irish society that will trigger thousands of home repossessions, debt campaigner David Hall has warned. “They have one thing on their agenda and that is feasting on the carcasses of those who suffered because of the gambli ...

Daily Headline - global.abi.org - 05/17/2018 - 23:15 - 0 comments

Regulators ‘Not Willing’ to Sort INBS Out Over Sale Hopes, Neary Says

Patrick Neary, the former chief executive of the now-defunct Irish Financial Services Regulatory Authority (Ifsra), told an inquiry into Irish Nationwide Building Society that the authority’s board was not willing to tackle a series of problems at the co ...

Daily Headline - global.abi.org - 05/15/2018 - 21:48 - 0 comments

Thomson Reuters to Move Forex Trading to Dublin Pre-Brexit

Thomson Reuters is planning to transfer its widely used foreign exchange derivatives trading from London to Dublin to be ready for the UK’s departure from the EU next year, the Irish Times reported. In a media advisory note sent on Tuesday morning Th ...

Daily Headline - global.abi.org - 05/15/2018 - 21:53 - 0 comments

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