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Nationwide owed most by Michael Lynn
Irish Nationwide Building Society is owed the most money by the
solicitor and property developer Michael Lynn, whose legal practice
was shut down on Monday, according to the report on the Law
Society's investigation into his practice. p
€5.25m paid into Lynn's property business this year
Some €5.25 million was paid from the client account of Michael Lynn's law practice, Capel Law in Dublin, to the bank account of his property business during a five-month period this year. p
Prem Group to spend €168m on European hotels
Prem Group, the hotel management business of property developer
Paddy Kelly, and Goodbody Stockbrokers are spending €168
million on the purchase of 11 three- and four-star hotels in
Belgium and France, and the expansion of the chain into northern
Europe. p
Pensions issue fudged, says FG
The Government was accused of continuing to fudge the looming
pensions crisis by Fine Gael yesterday, after it published a
long-awaited Green Paper on pensions but did not give any
indication of how it plans to proceed with pensions reform. p
Other Stories
Call to model pensions on SSIAs
The pensions industry has called on the Government to introduce a bonus on pension contributions in the style of Special Savings Incentive Accounts to encourage greater pension take-up. pOnce more with feeling on reforming the system
Analysis: Two years after the Government-commissioned National Pensions Review was completed, the Government has effectively decided to go through the whole exercise again, writes Dominic Coyle pGreen Paper on pensions
Main issues: pSuir sold for €30m
Waterford-based Suir Engineering has been sold to the Dutch publicly quoted technical services provider Imtech in a cash deal believed to be worth about €30 million. pAer Lingus sale nets €11.3m
Aer Lingus has sold its 20 per cent stake in the Spanish charter airline Futura for €11.3 million. pHostile offer for Scottish & Newcastle
Carlsberg and Heineken have teamed up to make a hostile offer for Scottish & Newcastle, the owner of Irish brewer Beamish & Crawford and the maker of Kronenbourg and Foster's lager. pDataCash acquires e-payment company
EuroCommerce, a Dublin payment services software company, has been acquired by DataCash Group in a deal which values the Irish company at up to €8.7 million. pIMF lowers projections for Irish and global growth
The International Monetary Fund cut its forecast for global growth next year and warned that even its new prediction may be too optimistic given threats posed by the sell-off in credit markets. pOil hits new high on Turkish threat
Oil prices hit a fresh record of $89 (€62.69) a barrel yesterday in volatile trading as dealers wrestled with US inventories data and the increasing threat of military action by Turkey in northern Iraq. pRoad network 'must be utilised'
Business and community interests in cities and towns on the motorway network should prepare now for new economic opportunities when the roads system is completed in 2010, according to the National Roads Authority (NRA). pEntrepreneurs on RTÉ
The eight finalists in the International category of the Ernst & Young Entrepreneur of the Year Award will be profiled tonight on RTÉ at 10.45. pHalifax banks on award-winning campaign to win new customers
Media & Marketing/Siobhán O'Connell: Before the launch of Halifax Bank in Ireland in November 2006, it had been 20 years since anyone had tried to launch a new consumer bank with a branch network in Ireland. pC&C benefits from bid for British rival
Dublin report: The Iseq index of Irish shares recovered from its negative performance on Monday and Tuesday to close up more than 1 per cent yesterday. pIn Short
A round-up of today's other news stories in brief p
