Euro remains second most widely used currency
The euro remains the second most widely used currency globally after the US dollar, according to the annual review of the international role of the euro published…
Global markets in ‘bruising’ start to week: reaction
Global shares edged mainly higher on Tuesday and Wall Street seemed set for a stronger open after Monday’s sell-off confirmed a bear market for the US…
ECB confirms plans to end QE, hike rates: reaction
The European Central Bank on Thursday signaled an end to its bond-buying stimulus program and said it would deliver its first interest rate hike since…
Ireland GDP rises 11% to €115bn in first quarter
The multinational-dominated sectors of Ireland’s economy helped drive gross domestic product (GDP) up 10.8% to €115.5 billion in the first quarter of 2022, according to…
Ireland tax receipts up 27% at €30bn to end-May
Tax receipts in Ireland rose 27% to €30.1 billion in the five months to the end of May, according to the latest exchequer returns from…
AIB acquires €5.7bn of Ulster Bank mortgages
AIB Group plc confirmed that Allied Irish Banks plc entered into a binding agreement with NatWest Group and Ulster Bank Ireland DAC for the acquisition…
Eurozone inflation hits record high of 8.1%
The Eurozone’s annual inflation rose to a record high of 8.1% in May, up from 7.4% in April, according to a flash estimate from Eurostat, the statistical…
Central Bank of Ireland makes €1.32bn profit
The Central Bank of Ireland has published its 2021 annual report and annual performance statement, showing it made a financial profit of €1.32 billion, with…
EBRD adds Czech Republic to SME equity research
The Czech Republic has joined the list of countries that are covered by the European Bank for Reconstruction and Development (EBRD)’s equity research programme for…
ECB warns crypto may pose a risk to financial stability
The European Central Bank has warned that crypto-assets “will pose a risk to financial stability” if the present trajectory of growth continues “and if financial institutions…
Merck €440m Ireland expansion creates 370 jobs
German life sciences and technology giant Merck announced it is expanding its membrane and filtration manufacturing capabilities in Ireland. The company will invest €440 million…
€1bn Ireland-France interconnecter gets approval
EirGrid has welcomed the decision by An Bord Pleanála to grant approval for the €1bn Celtic Interconnector Project, subject to a number of conditions. The…
ECB to force London banks to relocate activity to EU
The European Central Bank (ECB) has warned that too many international investment banks continue to serve euro zone clients out of London and that the…
Global debt soars to record high over $305 trillion
Global debt increased by $3.3 trillion to a new record high of over $305 trillion in the first quarter (Q1) of 2022, according to the…
EU in €210bn plan to replace Russian fossil fuels
The European Commission on Wednesday launched a €210 billion draft plan for how Europe can end its reliance on Russian fossil fuels by 2027. Russia…
Allianz to plead guilty, pay $6bln in fraud case
German insurance and asset management giant Allianz has agreed to pay around $6 billion over the collapse of its Structured Alpha funds early in the Covid-19 pandemic,…
German funds take €45bn; assets slip to €4.1 trillion
Fund companies in Germany recorded net new business of €45.1 billion in the first quarter of 2022, according to BVI, Germany’s investment funds association. Around 700…
Europe’s largest EV battery recycling plant launches
Hydrovolt, a giant battery recycling joint venture between Swedish lithium-ion battery firm Northvolt and Norwegian aluminium maker Norsk Hydro, has started commercial recycling operations at its…
Commission backs €27bn EIB investments worldwide
The European Commission and the European Investment Bank (EIB) have signed a “Guarantee Agreement” through which the Commission will support up to €26.7 billion of EIB…
Hines raises €800m for European property fund
Global real estate firm Hines announced that Hines European Property Partners (HEPP), its new diversified, open-ended “core-plus” property fund focused on key European markets, has…
Sanofi spinoff EuroAPI rises on Euronext Paris debut
Shares of EuroAPI, Sanofi’s pharmaceutical ingredients spinoff, rose on their first trading day on Euronext Paris. The issue price of EuroAPI shares was set at…
Securities lending revenue up 20% to $828m in April
The global securities lending industry generated $828 million in revenue for lenders in April 2022, according to DataLend, the market data service of fintech EquiLend….
Apple hit with EU charge over mobile payments
European Commission antitrust regulators have charged iPhone maker Apple with allegedly restricting rivals’ access to its technology used for mobile wallets. Apple now faces the…
AIB in NatWest talks for €6bn Ulster Bank mortgages
Allied Irish Banks (AIB) announced it is has entered into exclusive discussions with NatWest Group plc for the acquisition of €6 billion of Ulster Bank…
LaSalle, NUMA in €500m urban hotel investment
LaSalle Investment Management said it is launching a €500 million pan-European “urban hotel aggregation strategy” via a strategic partnership with digital hotel operator NUMA Group….
Credit Suisse board changes; McDonagh CEO of EMEA
Credit Suisse Group announced on Wednesday a number of major changes to its executive board and management team — including the appointment of Bank of…
Bank of Ireland CEO quits, with salary cap blamed
Bank of Ireland announced late on Tuesday that Francesca McDonagh has informed the board of Bank of Ireland Group plc of her intention to step…
ECB exec warns of ‘lawless frenzy’ in ‘Ponzi’ crypto
A senior European Central Bank (ECB) official on Monday launched an attack against the $1.3 trillion cryptocurrency market, comparing it to a “Ponzi scheme” and calling…
IMF warns divided blocs a ‘disaster’ for global economy
International Monetary Fund (IMF) chief economist Pierre-Olivier Gourinchas has warned that a potential new multipolar world — where Europe and the US are in one system…
ECB confirms end of bond buying amid rate rise talk
The European Central Bank (ECB) on Thursday confirmed its plans to end its massive bond-buying stimulus scheme in the third quarter of 2022 — as…