Urgent talks as NAMA loses one in 10 staff this year
Since the start of this year 37 staff members have left the agency, which has a total workforce of 370, chief executive Brendan McDonagh said yesterday.
He declined to comment on whether he has been approached by private sector employers looking to lure him away from Nama.
The inability to retain staff is a “concern” at the moment.
Hypotheticallyy, if it continues to lose people at the current rate it …
Sweeping inquiry will probe more than 20 years of banking
The long-awaited €5m Oireachtas Banking Inquiry is to investigate the controversial bank guarantee, the troika bailout and the decision to liquidate the IBRC, the former Anglo Irish Bank, the Irish Independent can reveal.
The committee is set to adopt the recommendations it received from its ad-hoc advisory group, which included economists Colm McCarthy and Megan Greene and a number of top civil servants.
The 11-person committee will meet today in …
Thousands of tech jobs at risk over tax loophole threat
A major report was ordered by world leaders amid growing concern about international schemes to avoid tax.
It throws the spotlight firmly on Ireland, where about 150,000 people are employed by multinationals, many of them leading technology or finance firms.
The Paris-based Organisation for Economic Co-operation and Development (OECD) unveiled proposals to eliminate gaps in global rules that allowed firms to legally shave billions from their tax bills.
Ultimately, its …
AIB, BoI in better shape but lending down – Standard & Poors
The rating agency revised upwards its assessment of the liquidity positions of both banks.
AIB, led by David Duffy, and Richie Boucher’s Bank of Ireland are regarded as having “adequate” liquidity and “average” ability to finance themselves on the markets, S&P said.
Banks’ improving funding position is mainly down to the reduction in lending to customers since the height of the credit bubble, and the ditching of illiquid investments, the …
Lone Star picks up Irish banking licence with latest loan deal
South Africa’s Investec sold £540m (€677m) of Irish mortgages to the private equity firm, it said yesterday.
The Irish business being acquired suffered a loss of £21m last year.
The sale is certain to have been at a significant discount to the face value – or amount owed – on the loans, given the well-publicised problems within the “book” of mainly sub prime home loans.