One in three SMEs 'defaulted on debt after loan rejection was overturned'
ONE in three businesses who had a decision to reject their loan application overturned by the Credit Review Office went on to default on the debt, Bank of Ireland has claimed.
Executives from AIB, Bank of Ireland and Ulster Bank were in front of the Jobs Committee at Leinster House yesterday to answer questions in relation to lending to small and medium enterprises (SMEs).
AIB says it has approved debt …
New EU plan to avoid financial crisis approved
THE European Parliament has signed off on new common EU banking rules designed to try to avoid a repeat of the banking and financial crisis. It is hoped the reforms will mean failing banks can be shut down before they become a major threat to the financial system, and without the need for public money.
MEPs had to give their verdict on the new rules this week before the European …
Government beat budget deficit target last year
THE Government beat its budget deficit target last year, official figures show this morning.
The gap between how much the state spends and brings in through taxes and other revenue narrowed to 7.2pc of the value of the economy – fractionally better than the 7.3pc target.
Boost as 270 new jobs announced for Limerick
Medical company Ethicon Biosurgery Ireland has announced it will create 270 jobs in Co Limerick.
The jobs will be created over the next five years.
Irish Stock Exchange becomes PLC
The Irish Stock Exchange has become a public listed company this morning
The move comes after a change in its corporate structure.
The PLC will assume the same services as the old company, while the staff of the ISE Ltd will be employed by the new company.