Posts By: admin

Central Bank to crack down on small firms breaking rules

The Central Bank plans to use disciplinary actions against smaller firms that get caught breaching finance rules to demonstrate its seriousness as a regulator. The warning is contained in a statement setting out the bank’s enforcement priorities for the year. It says resources have been specifically allocated for enforcement actions in relation to smaller firms,… Read more »

BoI customers hit as skimmers hack into their current accounts

A GARDA investigation is under way after hundreds of Bank of Ireland (BoI) customers had their accounts skimmed in two branches over the weekend. Customers in two BoI branches in Graiguenamanagh, Co Kilkenny, and in Borris, Co Carlow, had their current accounts accessed from the United States over a three-day period in a scamming operation… Read more »

Banks with the worst customer complaints named and shamed

BANKS have been named and shamed for the first time for their poor handling of customer complaints. The banks publicly identified by the Financial Services Ombudsman include AIB, Permanent TSB, Ulster Bank, Bank of Ireland, Bank of Scotland and Danske Bank. The six all feature in the top 10 financial institutions that were the subject… Read more »

Boost for banks as NAMA to make payments on junior debt

The National Asset Management Agency (NAMA) plans to make an interest payment on the so-called subordinated or junior bonds for the first time since the debt was issued in 2010, according to sources close to the situation. It is understood that banks were told to expect the payment in recent days.

State flouts EU rules by not revealing winners of public contracts

An estimated 7,500 tenders worth €12bn were offered by government departments, agencies and utility companies in 2013 on the eTenders procurement website. Despite government cuts to health spending, the Health Service Executive (HSE) awarded more than any other body, according to the annual report from TenderScout. But only 10pc of SMEs actually participate in the… Read more »

European shares fall back from three weeks of sharp gains

European shares pulled back from three weeks of sharp gains today, causing many regional indexes to fall from multi-year highs, as weak corporate outlooks darkened the earnings picture. Fresenius Medical Care (FMC) fell 7.1 percent after it unexpectedly forecast another decline in profit for 2014 amid cuts to healthcare budgets in the United States. Shares… Read more »

Public contracts worth €12bn

Only one in 10 SMEs apply for public sector contracts in what is a very lucrative €12bn market. The figures for 2013 show that the biggest single contract was for €30m, awarded to Airfield Pavement Construction by the Dublin Airport Authority. The HSE awards most public sector contracts,closely followed by the Office of Public Works… Read more »

China shares crash for the biggest loss in seven weeks as property plunges

China shares posted their biggest loss in seven weeks today, led by property-related sectors after mainland news reports stoked fears that banks have begun tightening loans to developers ahead of next week’s annual parliamentary meetings. The Shanghai Composite Index finished down 1.8 percent at 2,076.7 points, while the CSI300 of the largest Shanghai and Shenzhen… Read more »