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Trouble Irish bank Allied Irish , has appointed ex-HSBC director David Hodgkinson as its new interim executive chairman. Hodgkinson will head the group until the appointment of a Group Chief Executive. Previously, he had been Group Chief Operating Officer for and Member of the Group Management Boar
Read moreAllied Irish Banks (AIB) has started the process to sell its 22.4% interest in America's M&T Bank by way of a public offering, putting paid to Santander's plan to buy the stake. Institutional investors will be given the chance to snap up 26.7m contingent mandatory exchangeable notes, which can be c
Read moreBailing out the ailing bank Anglo Irish could cost as much as €34bn (£29bn) Ireland's central bank has said. While the figure is how much the central bank envisages the government having to pay to keep the nationalised lender afloat in a worst case, or 'stress' scenario, it would still cost €29.3bn
Read moreBanks are under pressure as worries over the European debt situation continue to plague the markets. Ireland is in the spotlight again amid speculation that that the cost of bailing out the nationalised bank Anglo Irish could rise to as much as €30bn (£25m). Unsurprisingly, Irish banks listed here
Read moreLondon staged a last hour rally but didn't rise by enough to eliminate losses sparked by a weak start on Wall Street. News that Brazilian oil company Petrobas will launch a world record $78bn rights issue helped other oil companies. BP, Shell and Cairn all picked up near the close. Expectation t
Read moreIrish banks are sharply lower today as economic worries continue to plague the former Celtic tiger. New figures today show the debt-stricken country's economy shrank by between 1% and 2% between April and June. Allied Irish Banks is down 8% and Bank of Ireland is 6% lower. British banks are also u
Read moreTrading conditions have remained challenging this year, particularly in Ireland, the bank Allied Irish said in an update, but conditions have improved in Britain. In the Republic of Ireland division, bad debt charges in the first quarter were at a similar level to those of the same period the previ
Read moreBank of Ireland says the additional €2.7bn of capital the government has told it to raise will see it through the current recessionary crisis in Ireland as it revealed huge losses for the last nine months of 2009. "The bank believes raising this level of capital would result in its Equity Tier 1 an
Read moreShares in Allied Irish Banks dropped more than 17% after the Irish banking group confirmed it is in discussions with the financial regulator in order to agree its capital requirements. The group said it will update the market with a further announcement once these discussions have been completed.
Read moreA firm start on Wall Street gave fresh heart to UK equities, with financial stocks to the fore, with the notable exception of insurers. Ahead of results tomorrow Standard Chartered was wanted in a buoyant banking sector while elsewhere in the financial sector property groups such as SEGRO and Hamme
Read moreLeading shares consolidated gains over the lunchtime session though it remains a bad day to be invested in the insurance sector. Insurer Prudential is under the cosh again as investors bale out ahead of an expected monster cash call to finance the group's acquisition of AIG's Asian assets. RSA In
Read moreAlthough base metal miners have reversed course and are now heading south the FTSE 100 index has added to early gains, helped by a surge in interest in banking shares. Ahead of results tomorrow Standard Chartered is leading the banking sector higher. Part-nationalised lenders Royal Bank of Scotland
Read moreAllied Irish Banks slumped to a loss €2.66bn last year as bad debt and loan impairment provisions hit €5.4bn in very tough conditions that it says show no signs of abating. "The outlook and environment remain extremely challenging. There are very significant matters and initiatives including NAMA,
Read moreLondon's blue chips recovered most of their losses in late afternoon trading and looked like they could be set for a positive finish before turning down again just before the close. Banks such as Lloyds Banking, Royal Bank of Scotland and Standard Chartered remained nervous about the debt situation
Read moreLeading share prices are still holding steady at lower levels as investors await further developments from Dubai. Banks such as Lloyds Banking, Royal Bank of Scotland and Standard Chartered remain nervous about the debt situation in emirate, though the morning's losses have been pared. HSBC defie
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