Previous Day
AIB takes stake in Bulgarian bank for €216m
AIB has agreed to buy a 49.99 per cent stake in Bulgaria-American Credit Bank (BACB), a commercial lender, for €216 million in cash as part of its continued expansion into eastern Europe. Simon Carswell , Finance Correspondent, reports. p
Finance Ireland suspends its lending as costs surge
A lending company that allowed older people to borrow money using their homes as security against the loans has suspended business due to the higher cost of funding in the debt markets caused by the credit crunch. Simon Carswell , Finance Correspondent, reports. p
Lender's investors unlikely to recover funds
Shareholders in specialist lender International Securities Trading Corporation (ISTC) are unlikely to recover their money after London investment bank Collins Stewart signed a deal to take control of the troubled company, write Arthur Beesley and Simon Carswell. p
VW worker in bribery case jailed
The Volkswagen sex and bribery scandal returned to the headlines
yesterday after the company's former works council head was
sentenced to nearly three years in prison for breach of trust. p
Other Stories
Developer to pay €20,000 over 'shameful' e-mail
Property developer Simon Kelly has undertaken to pay €20,000 to charity to avoid further High Court action against him for contempt of court over a "shameful" e-mail in which he accused a Dublin businessman of bringing a "bullshit" legal case and threatened he would cause "loss and pain" to the other man's business career. pGrowth in euro zone bounces back
Euro-zone economic growth is refusing to crumble and activity even bounced back this month, according to a closely watched survey. p£20m offer for Alltracel
Dublin-based medical products group Alltracel said yesterday that it has received a cash offer of £20.8 million (€27.61 million) from HemCon Technologies, a privately owned group based in Oregon that provides bandages to US soldiers in Iraq and Afghanistan. pMore departures from Carr group
The turmoil at Carr Communications continued yesterday when another two senior executives left the organisation, bringing the number of departures in the last fortnight to five. pIAWS down 20% as 'Lion' prowls
Shares in food group IAWS fell 20 cent to €12.14 on the Irish Stock Exchange yesterday. This followed confirmation that Lion Capital, a British-based private equity group, had bought a 32 per cent stake in Swiss bakery Hiestand, a company in which IAWS also holds a 32 per cent stake. pBubbly Taittinger back at helm of champagne firm
After a successful struggle to retrieve the family business, Pierre Emmanuel Taittinger has a sparkle in his eye once more, writes Laura Slattery pNatWest 3 face three years in UK jail over Enron fraud
A US judge sentenced three former British bankers, known as the "NatWest 3", to three years and one month each in prison yesterday for their role in an Enron-related fraud case. pBrennan leaves Dunne hotels
Developer Seán Dunne is searching for a new manager of his Ballsbridge hotels after parting company with John Brennan, owner of the Park Hotel Kenmare, who reopened the Berkeley Court and Jurys hotels under the d4hotels brand late last year. pElectrical firm's Irish interests to be sold
The Irish interests of Dutch electrical equipment company Hagemeyer are to be sold as a condition of EU approval for its €3.1 billion takeover by French group Rexel, the world's biggest distributor of electrical parts. Arthur Beesley , Senior Business Correspondent, reports. pNationwide downgraded on commercial loan worries
Irish Nationwide Building Society has been downgraded by ratings agency Fitch, which blamed an "uncertain outlook" for commercial and residential property lending in Ireland and Britain. pIseq drifts during uneventful session
Market Report: News that Collins Stewart had swooped to acquire Tiarnan O'Mahoney's troubled financial services group ISTC came too late for the Dublin market yesterday. pIn Short
A round-up of today's other stories in brief. p
