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Fall in credit card debt due to SSIAs
Credit card debt fell by a record amount last month, as consumers used their matured Special Savings Incentive Accounts (SSIAs) to pay off their outstanding bills. p
EBS chief executive to leave at end of summer
The chief executive of the EBS building society Ted McGovern is
to leave the position at the end of the summer. Mr McGovern (53)
informed the board of his decision to resign approximately two
weeks ago but has been considering the move since at least August
of last year, according to a source close to him. p
€50m expansion to create 170 ICT jobs
One hundred and seventy new research jobs will be created in a €50 million expansion programme at the Tyndall National Institute, Ireland's largest information and communications technology (ICT) research centre. p
AIB to buy €40m Baltic firm
AIB has agreed to buy AmCredit, a mortgage business that operates in Latvia, Lithuania and Estonia, for about €40 million. p
Other Stories
Kwik Save may sell off non-viable sites in rescue plan
The sale of sites to bigger rivals could play a role in any rescue plan for Kwik Save, the troubled British grocery chain recently bailed out by Irish businessman Brendan Murtagh. pFirm ordered not to reduce assets below €91,000
The High Court has ordered a Galway painting and decorating firm not to reduce its assets below €91,000. pKingspan predicts profits will grow by almost €40m
Insulation and building materials group Kingspan predicts profits this year will grow by close to €40 million following a strong performance in the first six months. pEuro zone recovery continues as business confidence remains high
The euro zone's near-perfect recovery remains on track, with economic confidence dipping only slightly this month and inflation remaining within the target range of the European Central Bank (ECB). pO'Brien increases stake in IN&M with securities
Businessman Denis O'Brien is increasing his stake in Independent News & Media (IN&M) by accumulating New Zealand securities which will be convertible into IN&M shares later this year. pIMF chief in surprise decision to quit
The world of international finance yesterday remained baffled by Rodrigo Rato's surprise decision to quit as managing director of the International Monetary Fund, as speculation began as to who might succeed him as head of the fund. pIN&M withdraws as 'incorrect' stock market notification
Independent News & Media (INM) withdrew as "incorrect" a stock market notification which suggested Bank of Nova Scotia had a security interest in three million of Sir Anthony O'Reilly's shares in the group. pOakhill raises €15m for acquisitions
Oakhill plc has raised €15 million gross in a placing it intends to use for investment in its businesses and the making of acquisitions. pChina tries to put brakes on demand for shares
Chinese regulators are considering suspending or abolishing a 20 per cent tax on bank savings, in a move which they hope will stop people moving their cash out of bank deposits into the increasingly heady world of stock investment. pGordon for Boundary Management role
A former Tedcastles Energy executive is to head up listed investment fund Boundary Capital's management arm following a series of appointments at the group. pGerman unions fear growing casualisation of workforce
German relief that unemployment has hit a six-year low cannot hide growing concerns about the rise of new, insecure jobs and a growing shortage of skilled labour. pMandelson set to defend free market
Europe's trade commissioner will attack France's government on its own doorstep today with a ringing defence of the free market. pRyanair unchanged despite brisk trading
Market Report: Trading was mixed in the market yesterday as the Iseq index of Irish shares ended the day little changed despite positive economic data out of the US that boosted several other European markets. pIn Short
A round up of today's other financial stories in brief p
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