Category: Finance
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Liam Carroll's complex web
There has been much talk in recent months of Liam Carroll’s ‘complex web’ of companies, which all seem to owe each other money. Take one down, it has been said, and they all fall. But no one has yet tried to construct exactly what this web looks like. I think I’ll have a go. It…
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Stewart responds to Cramer
The Daily Show With Jon StewartM – Th 11p / 10c In Cramer We Trust Daily Show Full EpisodesImportant Things With Demetri Martin Political HumorEconomic Crisis
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S&P cuts Ireland outlook
Reuters: Standard & Poor’s Ratings Services said today it revised its outlook on the Republic of Ireland to negative from stable, on what we view as mounting fiscal pressures and deterioration of key economic sectors. At the same time, the ‘AAA’ long-term and ‘A-1+’ short-term sovereign credit ratings were affirmed. Standard & Poor’s also affirmed…
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Irish bank bailout, part 3
The Government will pump €5.5 billion into three of its largest banks after the collapse of the country’s property market and the impact of the global financial crisis eroded their capital. The government will inject €2bn into Allied Irish Banks, the biggest lender by market value, and €2bn in Bank of Ireland, the Department of…
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Fitzpatrick resigns
I really am absolutely puzzled by the Irish Times headline: FitzPatrick is first high-profile Irish casualty of global crisis How, exactly, is he a casualty of a global crisis? What have toxic US CDOs got to do with the transfering €87 million in loans with Anglo to another bank before the group’s September 30th year…
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Anglo Irish Bank – a lesson in an Irish solution…
Chairman of Anglo Irish Bank Sean Fitzpatrick has resigned. The €87m figure could lead to serious problems for the bank, with the bank now only worth €250m in total. The Financial Regulator has known for months, so the Government has known for months, and still they went ahead and guaranteed Anglo Irish Bank. We could…
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Mattress racing
How would $100 stuffed under a mattress have performed since 1998, compared to investments in shares or bonds? The Economist takes a look:
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Lenihan: We didn't notice the downturn
So said that Sunday Independent yesterday. It went on: Mr Lenihan effectively admitted that the Government only became aware of the “decline” two months after he had been appointed Finance Minister. He said: “When we first saw the sign of decline in July …” While I think the headline does not entirely warrant the content,…
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€10 billion Irish bank recapitalisation
Why does it feel like Ireland will be seeking IMF assistance within 12 months? This strikes me as a very cack-handed response… The Government have just put a statement up on the Department of Finance website. Serious stuff. The Government has today decided on an approach to the recapitalisation of credit institutions. The Government’s objective…
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Beamish & Crawford brewery to close
Heineken Ireland said: “The high costs of operating two breweries in the city, difficulties associated with expansion at the Beamish & Crawford facility and excess brewing capacity at Heineken Ireland, makes the future of the Beamish & Crawford plant unsustainable.” It’s a sad day really. Cork had two breweries in the city centre, not it…