Bank of Ireland chief executive Francesca McDonagh is stepping down from her role later this year, the bank announced after markets closed last night. She is understood to be moving to a European bank in a move that will inevitably reopen the debate about caps of salaries and bonuses for Irish bank executives. Mark Paul has the details.
Restaurateur Jay Bourke, a well-known figure on Dublin's nightlife scene, has been declared bankrupt by the High Court on the back of an application by the Revenue Commissioners over a tax debt of €558,000 after efforts to organise a personal insolvency arrangement covering up to €13.7 million in Celtic Tiger debt failed. Simon Carswell reports.
Mortgage rules imposed on lenders by the Central Bank were never designed to limit house prices but were focused instead on increasing the resilience of banks and borrowers, the bank's deputy governor Sharon Donnery has said.
The ink is not yet dry on the deal that will give Elon Musk control of Twitter, subject to shareholder approval, in a €41 billion deal but already Brussels has warned the world's richest man that the social media platform must comply with the EU's new digital rules under his ownership, or risk hefty fines or even a ban, setting the stage for a global regulatory battle over the future of the social media platform.
Davy Stockbrokers has bucked the trend and upgraded its growth forecast for the Irish economy, despite the negative impact of Russia's invasion of Ukraine and higher energy prices. In house economist Conall Mac Coille has raised his projection for GDP growth this year to 8.2 per cent from 7.6 per cent previously, writes Eoin Burke-Kennedy.
Eoin also reports that the Republic is being touted as a possible location for a new EU-wide regulator for money laundering and terrorist financing controls in a move that could bring with it up to 600 high-paying jobs.
Aircraft leasing companies have launched a multinational effort to persuade safety authorities to allow grounded planes that were returned from Russia without full maintenance records back into commercial service.
In his column, Martin Wolf argues that the war in Ukraine is already causing sharp reductions in the real incomes of consumers much further afield, including in Britain and Ireland.
And in commercial property, chartered surveyor Cathal Kelly argues that the environmental impact of our existing commercial building stock is no longer sustainable in the context of climate targets.
And Germany's Union Investment has formally announced its purchase of a new, state-of-the-art warehousing and distribution facility being developed by Penneys in Newbridge, Co Kildare in what is understood to be a €129 million deal. Ronald Quinlan reports.
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