Business News

Fees fall to €120m on Irish financial deals so far in 2017

2nd May 2017

Investment banking fees paid so far this year in relation to deals that involved Irish entities have hit $131.2m (€120.4m), according to figures compiled for the Irish Independent by Thomson Reuters. But that’s the lowest amount for the first three-and-a-half months of the year since 2013, when the figure for the period was $74.6m (€68.4m). […]

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Firms need to embrace technology to ensure robust anti-money laundering procedures

2nd May 2017

Late last year we predicted in these pages that the fine imposed of €98,000 on Bray Credit Union by the Central Bank for failures in its anti-money laundering (AML) procedures would be “the thin end of a very large wedge as the Central Bank signals a no-nonsense attitude to anti-money laundering (AML) practices by financial […]

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EU urged to halt corporate tax plan until impact studied

2nd May 2017

The EU’s plan for the Common Consolidated Corporate Tax Base (CCCTB) should be suspended until a country-by-country analysis of its likely impact is undertaken by the European Commission – according to Fine Gael MEP Brian Hayes. Mr Hayes said he has written to the EU commissioner for economic and financial affairs, Pierre Moscovici, to urge […]

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ESB and Bord na Móna in €500m solar venture to power 150,000 homes

27th April 2017

Bord na Mona and the ESB are joining forces to develop four huge solar farms that are likely to cost in the region of €500m and generate sufficient electricity to power 150,000 homes. The four solar farms – which will generate a total of 570 megawatts of electricity – will be based in counties Roscommon, […]

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Impaired loans at State-owned AIB down 70pc from peak

27th April 2017

The quantity of impaired loans at State-owned AIB is down 70pc from the peak levels seen in 2013, according to a first quarter trading update issued by the bank. The total value of impaired loans now on the banks books is €8.6bn, a fall of €500m since the final quarter of last year. In addition, […]

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Dan O’Brien: How Ireland’s economy has dodged two potential bullets – for now

27th April 2017

One-in-four people employed in the private sector in this State works for a foreign company that sells stuff to foreigners. The taxes those workers and companies pay fund a great deal of the public sector and the cost of providing public services. All this is a very unusual state of affairs when compared to our […]

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Embarrassment for AIB as bank fined €2.3m for breach of money laundering rules

26th April 2017

State-owned AIB has been hit with a massive Central Bank fine for failing to check if it was being used for money laundering and tax evasion. The bank has to cough up €2.275m to the Central Bank for breaches of anti-money laundering legislation. The fine is a huge embarrassment for the bank, just months away […]

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Irish firms are finally facing up to Brexit – EI chief Sinnamon

26th April 2017

Exporting companies are waking up to the fact that Brexit is now a reality and that they need to put in place a strategy to mitigate the fallout, the head of Enterprise Ireland (EI) has told the Irish Independent. Since Prime Minister Theresa May triggered Article 50 in March, companies are accepting the need to […]

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Irish firms are finally facing up to Brexit – EI chief Sinnamon

26th April 2017

Exporting companies are waking up to the fact that Brexit is now a reality and that they need to put in place a strategy to mitigate the fallout, the head of Enterprise Ireland (EI) has told the Irish Independent. Since Prime Minister Theresa May triggered Article 50 in March, companies are accepting the need to […]

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Scheme to encourage more IPOs is launched

26th April 2017

The Irish Stock Exchange (ISE) has launched its ‘IPOready’ programme for 2017, which is geared towards helping Irish companies prepare for stock market flotations over the next five years. The programme will offer assistance to companies that are preparing to go public. IPOready will provide skills to executive teams who are attempting to raise strategic […]

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