Noonan should look before he leaps on AIB sale
Just because the bank is heading towards a point where a chunk of it could be sold, doesn’t mean it should automatically happen in a vacuum.
The decision by the Finance Minister Michael Noonan to appoint a panel of advisers on the sale of a stake in the bank is not surprising. Before now, nobody would have wanted to invest in a bank that still had massive bad debts and …
Expected internet shopping surge is an opportunity for retailers
Clothing and footwear are set to make up the bulk of the deliveries, according to a report compiled by Barclays.
The banking giant said there are likely to be similar trends in Ireland.
Head of Retail & Wholesale for Barclays, Richard Lowe, who was in Dublin this week, said that not only is the online market growing, it is also having to evolve more radically than before.
“Driven by the …
Eurozone to grow modestly in second half of the year
But the European Central Bank (ECB) president warned that unacceptably high unemployment and continued weak credit growth are likely to curb the strength of the recovery.
The recovery in the Eurozone continues to falter, with a gauge of manufacturers dropping back to its lowest level this year on Tuesday, growth stagnating in the second quarter and Italy falling back into recession.
Business confidence in Germany, the bloc’s biggest economy, has …
Our business leaders have the chance to inspire a new generation
But Dr Simon Boucher has got lots of work to, because the most recent study reveals that Irish managers perform poorly in comparison to other industrial countries.
Of the 21 countries surveyed, Ireland ranked 15th, well-behind the first-placed USA and ahead only of Chile, Argentina, Greece, China, Brazil and India.
Dr Boucher says there’s a “fair capacity” for improvement in the level of Irish management, particularly when it comes to …
Business Brain: Selling a business means facing up to 'hard realities'
Therefore, it is imperative that the preparation phase begins well in advance of the planned disposal (For example, 18 months).
It is essential that the seller views the business through the eyes of a potential buyer. Owners may lack the dispassionate ability to perform an objective review of the overall health and value of the business and any emotional attachment needs to be tempered by hard realities.
As a starting …
Euro wilts after Mario Draghi says ready for more policy support
The euro was already under pressure after surrendering to stop-loss selling on Wednesday, as a major chart bulwark at $1.2800 gave way.
The common currency fell as low as $1.2762, nearing the 2013 trough of $1.2740. A break there would take it back to levels not seen since late 2012. It last traded on Thursday at $1.2767, down 0.1 percent on the day.
“We stand ready to use additional unconventional …
Taxpayers set to reap €3.5bn from part-sale of State's stake in AIB
A deal would be among the biggest ever on the Irish Stock Exchange, which is seen as the most likely venue for a primary float.
While tax payers would reap the vast bulk of the cash, an IPO will prove a bonanza for brokers, underwriters and corporate law firms, who will expect to pick up around 1pc of the value of any deal in fees for nursing the bank back …
Companies take €10bn hit after US announces tax rule change
Junior Finance Minister Simon Harris signalled to the Irish Independent that Ireland had nothing to fear from the move by the US Treasury, which will, in theory, make inversions more difficult to do and less rewarding.
In an inversion, a US corporation, often a pharmaceutical company, avoids US taxes by buying or setting up a foreign company in a country and then moving its tax domicile to that country.
The …
Budget 2015: Nevin Institute calls for €800m in cuts and taxes
And the Government should use the record-low borrowing costs to fund a large-scale public investment programme focused on areas like social housing, education and high-speed broadband infrastructure, the Nevin Economic Research Institute (NERI) has said.
In its latest economic commentary, the trade-union funded think-tank called for a budget adjustment of around €800m and said the Government shouldn’t cut taxes.
Budget measures, it said, should include an increase in employers PRSI, …
Further signs the economic recovery in the Eurozone is stuttering
New orders rose just fractionally, with the rate of increase waning for the third successive month.
And employment was largely unchanged once again as companies held back from hiring staff because of weak sales growth, according to the flash Purchasing Managers Index for September.
While PMIs in Ireland are recording multi-year highs and economic growth here is forecast to rise as high as 5pc this year, the recovery across the …