NAMA has so far placed 296 individual developers or groups of developers into receivership, the Irish Independent can reveal. Based on figures provided, since its inception in 2009 the National Asset Management Agency has moved against 37pc of the developers it has dealt with, including high-profile ones such as Sean Dunne, Paddy Shovlin, Bernard McNamara, Richard Barrett and Johnny Ronan of Treasury Holdings. But last night, Fianna Fail finance spokesman Michael McGrath said he was "highly concerned" at the high number of developers who have been moved against.

Barclays chief executive Antony Jenkins says he was forced to increase bonus payments to senior executives after hundreds of key staff left the investment bank in America and he feared a “death spiral” could grip the organisation, The Guardian reported. Revealing the reasons behind the controversial decision to increase bonuses by £200m in 2013 despite profits falling at Barclays, Mr Jenkins said that he had to act or the investment division would suffer.

European Union authorities on Wednesday said Italy's economic woes require strict monitoring and "strong policy action," putting more pressure on Rome to cut its government budget deficit amid record unemployment, The Wall Street Journal reported. But officials at the European Commission, the EU's executive arm, declined to take a similar step for Germany because of its large current-account surplus, the broadest measure of a country's trade and financial flows with the rest of the world. The U.S.

One thing we can tell you about the Mt. Gox bankruptcy case: It won’t be like any other bankruptcy case you’ve seen, The Wall Street Journal MoneyBeat blog reported. MoneyBeat had a very enlightening and interesting talk with Christopher Mirick, a partner at the international law firm Pillsbury Winthrop Shaw Pittman, operating in the firm’s Insolvency & Restructuring practice.

It’s just over two months since Jose Manuel Barroso stoked controversy when he said that the euro was a victim of the Irish banking crisis at a leaders’ summit in Brussels, just as Ireland had exited its bailout. This evening he will have the first opportunity to return to the topic of Ireland when he addresses an audience at University College Cork, the Irish Times reported.

Pescanova SA, the Spanish fishing company whose former board hid more than 2 billion euros ($2.7 billion) of debt, is asking lenders to take nominal losses of as much as 97.5 percent as part of restructuring proposals, Bloomberg News reported. Shareholders will get 4.99 percent of a new company and Damm SA, the Spanish brewer, and Luxempart SA will become Pescanova’s industrial partner, according to a regulatory filing. The company will get as much as 150 million euros in capital and long-term financing under the plans presented to a Spanish court yesterday.

Shareholders in Italy's Seat Pagine Gialle gave the go ahead on Tuesday for a plan aimed at relaunching the heavily indebted Italian yellow pages publisher, allowing creditors to take control of the struggling company, Reuters reported. Measures voted by shareholders include a near 20 million euro cash call reserved for creditors that will see current investors diluted to just 0.25 percent of capital. Royal Bank of Scotland and bondholders will forego debt of around 650 million euros ($893 million) and 837 million euros respectively to become the new owners of the company.

Air France-KLM Group, Europe’s largest airline, is getting a makeover ranging from high-end seats to bigger entertainment screens as Chief Executive Officer Alexandre de Juniac attempts a turnaround from near bankruptcy, Bloomberg News reported. De Juniac, who became CEO in July, is coupling luxury perks such as gourmet meals with a push to trim spending that will erase almost 10,000 jobs from 2011 into 2015. With fliers ready to spend more, investing in the customer experience goes hand in hand with savings, he said.

Some of Britain's banks are still offering their staff pay incentives that could trigger more mis-selling of financial products, the country's markets watchdog said on Tuesday, Reuters reported. The Financial Conduct Authority (FCA) said significant progress had been made in stamping out poor selling practices, but found around one in 10 of the companies it examined still had risky sales practices. The issue of mis-selling remains sensitive in the wake of a series of scandals.

Bank of Ireland made an after- tax loss of €235 million last year on its Irish residential mortgages, according to a filing for the entity that handles this business, the Irish Times reported. Latest accounts for Bank of Ireland Mortgage Bank indicate this was €2.8 million lower than the loss recorded in the previous year. They also show that its impairment provisions rose by 31 per cent to €1.35 billion last year. The accounts state that this hole was plugged by its parent company, the Bank of Ireland group, which bought shares at €8 each in the subsidiary.